Abstract
"This note shows that permanent fluctuations in the Cobweb model — though inconsistent with a rational expectations equilibrium — can be justified as being rational when reinterpreting the model in the theory of rational beliefs."
Schenk-Hoppé, Klaus Reiner (2002). Resuscitating the Cobweb Cycle. Working paper series / Institute for Empirical Research in Economics No. 123, University of Zurich.
Abstract
"This note shows that permanent fluctuations in the Cobweb model — though inconsistent with a rational expectations equilibrium — can be justified as being rational when reinterpreting the model in the theory of rational beliefs."
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| Item Type: | Working Paper |
|---|---|
| Communities & Collections: | 03 Faculty of Economics > Department of Economics
Working Paper Series > Institute for Empirical Research in Economics (former) |
| Dewey Decimal Classification: | 330 Economics |
| Language: | English |
| Date: | July 2002 |
| Deposited On: | 29 Nov 2011 21:26 |
| Last Modified: | 27 Nov 2020 07:14 |
| Series Name: | Working paper series / Institute for Empirical Research in Economics |
| ISSN: | 1424-0459 |
| OA Status: | Green |
| Official URL: | http://www.econ.uzh.ch/wp.html |
Schenk-Hoppé, Klaus Reiner