Work

Competitive Equilibrium Cycles

Year: 2011

Type: book-chapter

Abstract: Recently there has been a surge of interest in endogenous business cycles that arise in competitive laissez-faire economies. In the context of standard overlapping generations economies, conditions for the existence of equilibrium cycles have been given by Grandmont (1983) and by Benhabib and Day (1982). Models of the economy with extrinsic uncertainty or “sunspots” that have been developed by Shell (1977) and by Cass and Shell (1983) (see also Balasko (1983)) can also lead to equilibrium cycles. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Source: Springer eBooks

DOI: 10.1007/978-3-642-22397-6_4

Authors: Jess Benhabib, Kazuo Nishimura

Institutions: New York University, Kyoto University, Kyoto Institute of Economic Research, Kyoto University

Language: English

Topic: Economic theories and models

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: hybrid

OpenAlex ID: W2045082005

FWCI: 40.36

Cites: 31

Cited by: 225

Related to: 10