E-stability in the stochastic Ramsey model

George W. Evans; Kaushik Mitra

doi:10.1016/j.econlet.2012.11.033

E-stability in the stochastic Ramsey model

George W. Evans, Kaushik Mitra

Economics

Research output: Contribution to journal › Article › peer-review

2 Citations (Scopus)

Abstract

Analytical expectational stability results are obtained for both Euler-equation and infinite-horizon adaptive learning in a simple stochastic growth model. The rational expectations equilibrium is stable under both types of learning, though there are important differences in the learning dynamics.

Original language	English
Pages (from-to)	407-410
Journal	Economics Letters
Volume	118
Issue number	2
Early online date	7 Dec 2012
DOIs	https://doi.org/10.1016/j.econlet.2012.11.033
Publication status	Published - Feb 2013

Keywords

Euler-equation learning
Infinite-horizon learning
Expectational stability

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title = "E-stability in the stochastic Ramsey model",

abstract = "Analytical expectational stability results are obtained for both Euler-equation and infinite-horizon adaptive learning in a simple stochastic growth model. The rational expectations equilibrium is stable under both types of learning, though there are important differences in the learning dynamics.",

keywords = "Euler-equation learning, Infinite-horizon learning, Expectational stability",

author = "Evans, {George W.} and Kaushik Mitra",

year = "2013",

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journal = "Economics Letters",

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AU - Evans, George W.

AU - Mitra, Kaushik

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AB - Analytical expectational stability results are obtained for both Euler-equation and infinite-horizon adaptive learning in a simple stochastic growth model. The rational expectations equilibrium is stable under both types of learning, though there are important differences in the learning dynamics.

KW - Euler-equation learning

KW - Infinite-horizon learning

KW - Expectational stability

U2 - 10.1016/j.econlet.2012.11.033

DO - 10.1016/j.econlet.2012.11.033

M3 - Article

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VL - 118

SP - 407

EP - 410

JO - Economics Letters

JF - Economics Letters

IS - 2

ER -

E-stability in the stochastic Ramsey model

Abstract

Keywords

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