E-stability in the Stochastic Ramsey Model

George W Evans; Kaushik Mitra

doi:10.1016/j.econlet.2012.11.033

E-stability in the Stochastic Ramsey Model

Research output: Contribution to journal › Article › peer-review

Abstract

Analytical expectational stability results are obtained for both Euler-equation and infinite-horizon adaptive learning in a simple stochastic growth model. The rational expectations equilibrium is stable under both types of learning, though there are important differences in the learning dynamics.

Original language	English
Pages (from-to)	407-410
Number of pages	4
Journal	Economics Letters
Volume	118
Issue number	2
Early online date	7 Dec 2012
DOIs	https://doi.org/10.1016/j.econlet.2012.11.033
Publication status	Published - Feb 2013

Keywords

Euler-equation learning, Infinite-horizon learning, Expectational Stability

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10.1016/j.econlet.2012.11.033

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title = "E-stability in the Stochastic Ramsey Model",

abstract = "Analytical expectational stability results are obtained for both Euler-equation and infinite-horizon adaptive learning in a simple stochastic growth model. The rational expectations equilibrium is stable under both types of learning, though there are important differences in the learning dynamics.",

keywords = "Euler-equation learning, Infinite-horizon learning, Expectational Stability",

author = "Evans, {George W} and Kaushik Mitra",

year = "2013",

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journal = "Economics Letters",

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AU - Mitra, Kaushik

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AB - Analytical expectational stability results are obtained for both Euler-equation and infinite-horizon adaptive learning in a simple stochastic growth model. The rational expectations equilibrium is stable under both types of learning, though there are important differences in the learning dynamics.

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UR - http://www.sciencedirect.com/science/article/pii/S0165176512006234

U2 - 10.1016/j.econlet.2012.11.033

DO - 10.1016/j.econlet.2012.11.033

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JO - Economics Letters

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IS - 2

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E-stability in the Stochastic Ramsey Model

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Macroeconomic Policy Changes: Macroeconomic policy changes and adaptive learning

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E-stability in the Stochastic Ramsey Model

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Macroeconomic Policy Changes: Macroeconomic policy changes and adaptive learning

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