Search Results - subject:"Leeper and Sims model"

Existence of Singularity Bifurcation in an Euler-Equations Model of the United States Economy: Grandmont was Right

Barnett, William A.; He, Susan - Volkswirtschaftliche Fakultät, … - 2009

Abstract: Grandmont (1985) found that the parameter space of the most classical dynamic general-equilibrium macroeconomic models are stratified into an infinite number of subsets supporting an infinite number of different kinds of dynamics, from monotonic stability at one extreme to chaos at the...

Persistent link: https://www.econbiz.de/10005619286

Existence of Bifurcation in Macroeconomic Dynamics: Grandmont was Right

Barnett, William; He, Yijun - Department of Economics, University of Kansas - 2006

: Bifurcation, inference, dynamic general equilibrium, Pareto optimality, Hopf bifurcation, Euler equations, Leeper and Sims model … models, from the oldest to the newest. 1.2 The Leeper and Sims Model 3 There is growing interest in rigorous … (1976)). Similar models are developed in Kim (2000). The dimension of the state space in the Leeper and Sims model is …

Persistent link: https://www.econbiz.de/10005057401

Existence of bifurcation in macroeconomic dynamics: Grandmont was right

He, Yijun; Barnett, William A. - Volkswirtschaftliche Fakultät, … - 2006

Grandmont (1985) found that the parameter space of the most classical dynamic general-equilibrium macroeconomic models are stratified into an infinite number of subsets supporting an infinite number of different kinds of dynamics, from monotonic stability at one extreme to chaos at the other...

Persistent link: https://www.econbiz.de/10005619777