A NOTE ON WOODFORDS CONJECTURE - CONSTRUCTING STATIONARY SUNSPOT EQUILIBRIA IN A CONTINUOUS-TIME MODELS
成果类型：
Note
署名作者：
SHIGOKA, T
刊物名称：
JOURNAL OF ECONOMIC THEORY
ISSN/ISSBN：
0022-0531
DOI：
10.1006/jeth.1994.1081
发表日期：
1994
页码：
531-540
关键词：
摘要：
We show how to construct stationary sunspot equilibria in a continuous time model, where equilibrium is indeterminate near either a steady state or a closed orbit. Woodford's conjecture that the indeterminacy of equilibrium implies the existence of stationary sunspot equilibria remains valid in a continuous time model. (C) 1994 Academic Press, Inc.