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In this paper we investigate the nature of rational expectations equilibria for economic epidemiological models. Unlike mathematical epidemiological models, economic epidemiological models can produce regions of indeterminacy or instability around the endemic steady states. We consider SI, SIS,...
Persistent link: https://www.econbiz.de/10010875560
In sticky price models with endogenous investment, virtually all monetary policy rules that set a nominal interest rate in response solely to future inflation induce real indeterminacy of equilibrium. Applying the Samuelson-Farebrother conditions, we obtain a necessary and sufficient condition...
Persistent link: https://www.econbiz.de/10005178568
In this paper, we investigate the nature of rational expectations equilibria for economic epidemiological models. Unlike mathematical epidemiological models, economic epidemiological models can produce regions of indeterminacy or instability around the endemic steady state. We consider SI, SIS,...
Persistent link: https://www.econbiz.de/10008866134