Learning and the Saddle Point Property

This note shows that there are close connections between the determinacy of a stationary state equilibrium and its stability under learning whenever agents try to estimate both the law of motion of the state variable and the stationary state value.

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Year of publication:	2001-12
Authors:	Gauthier, Stéphane
Institutions:	HAL
Subject:	Rational expectations \| Saddle path \| Determinacy \| Learning

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Extent:	application/pdf
Series:	Post-Print.
Type of publication:	Book / Working Paper
Notes:	View the original document on HAL open archive server: http://hal.archives-ouvertes.fr/hal-00731163 Published, Economics Letters, 2001, 73, 3, 339-343
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010898552