Sunspot equilibria in a monetary real business cycle model

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Sunspot equilibria in a monetary real business cycle model. / Heinemann, Maik; Marchlewitz, Gilbert.
In: Economics Letters, Vol. 53, No. 3, 01.12.1996, p. 305-310.

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Heinemann M, Marchlewitz G. Sunspot equilibria in a monetary real business cycle model. Economics Letters. 1996 Dec 1;53(3):305-310. doi: 10.1016/s0165-1765(96)00934-2

Bibtex

@article{3b958f45efe744d6ade44ba4be8573bc,
title = "Sunspot equilibria in a monetary real business cycle model",
abstract = "In this paper a modification of the cash-in-advance real business cycle model is introduced in which the possibility of any credit contract is excluded. We show that for some parameter settings the model displays familiar saddle-point stability whereas for other constellations the steady state is a sink. In those cases, sunspot solutions are obtained.",
keywords = "Real business cycles, Sunspots, Economics",
author = "Maik Heinemann and Gilbert Marchlewitz",
year = "1996",
month = dec,
day = "1",
doi = "10.1016/s0165-1765(96)00934-2",
language = "English",
volume = "53",
pages = "305--310",
journal = "Economics Letters",
issn = "0165-1765",
publisher = "Elsevier B.V.",
number = "3",

}

RIS

TY - JOUR

T1 - Sunspot equilibria in a monetary real business cycle model

AU - Heinemann, Maik

AU - Marchlewitz, Gilbert

PY - 1996/12/1

Y1 - 1996/12/1

N2 - In this paper a modification of the cash-in-advance real business cycle model is introduced in which the possibility of any credit contract is excluded. We show that for some parameter settings the model displays familiar saddle-point stability whereas for other constellations the steady state is a sink. In those cases, sunspot solutions are obtained.

AB - In this paper a modification of the cash-in-advance real business cycle model is introduced in which the possibility of any credit contract is excluded. We show that for some parameter settings the model displays familiar saddle-point stability whereas for other constellations the steady state is a sink. In those cases, sunspot solutions are obtained.

KW - Real business cycles

KW - Sunspots

KW - Economics

UR - http://www.scopus.com/inward/record.url?scp=0030299460&partnerID=8YFLogxK

U2 - 10.1016/s0165-1765(96)00934-2

DO - 10.1016/s0165-1765(96)00934-2

M3 - Journal articles

VL - 53

SP - 305

EP - 310

JO - Economics Letters

JF - Economics Letters

SN - 0165-1765

IS - 3

ER -