Growth and Business Cycles with Equilibrium Indeterminacy
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Beschreibung
Over the past two decades, the issue of equilibrium indeterminacy has been one of the major research concerns in macroeconomic dynamics. Growth and Business Cycles with Equilibrium Indeterminacy discusses the main topics in this literature. Based on comprehensive surveys and the author’s original research, this book explores sunspot-driven fluctuations in real business cycle models, multiple equilibria in endogenous growth models, and the stabilization effects of fiscal and monetary policy rules. The book also considers equilibrium indeterminacy in open economy models.
Over the past two decades, the issue of equilibrium indeterminacy has been one of the major research concerns in macroeconomic dynamics. Growth and Business Cycles with Equilibrium Indeterminacy discusses the main topics in this literature. Based on comprehensive surveys and the author’s original research, this book explores sunspot-driven fluctuations in real business cycle models, multiple equilibria in endogenous growth models, and the stabilization effects of fiscal and monetary policy rules. The book also considers equilibrium indeterminacy in open economy models.
Presents an extensive, comprehensive survey of indeterminacy and sunspots in real business cycle models Discusses indeterminacy in endogenous growth models in detail Examines the latest research on indeterminacy in open-economy models and in models with financial frictions
Autor*in
Kazuo Mino
Themen in »Growth and Business Cycles with Equilibrium Indeterminacy«
Belief-Driven Fluctuations Business Cycles Endogenous Growth Equilibrium Indeterminacy Sunspots