Introduction to the Symposium on Growth, Fluctuations, and Sunspots: Confronting the Data

Jess Benhabib, Aldo Rustichini

    Research output: Contribution to journalArticle

    Abstract

    The papers in this symposium demonstrate the theoretical as well as the empirical plausibility of indeterminacy and of sunspots in equilibrium models with infinitely lived agents. They depart from the standard competitive framework because of the presence of externalities or of monopolistic competition. Some focus on business fluctuations while others address long-run growth. The second part of the Introduction presents a general unifying framework to identify the structure that is common to the papers of the symposium. Journal of Economic Literature Classification Numbers: E00, E3, O40.

    Original languageEnglish (US)
    Pages (from-to)1-18
    Number of pages18
    JournalJournal of Economic Theory
    Volume63
    Issue number1
    DOIs
    StatePublished - Jun 1994

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    Symposium
    Sunspots
    Fluctuations
    Long-run growth
    Business fluctuations
    Indeterminacy
    Monopolistic competition
    Economics
    Externalities

    ASJC Scopus subject areas

    • Economics and Econometrics

    Cite this

    Introduction to the Symposium on Growth, Fluctuations, and Sunspots : Confronting the Data. / Benhabib, Jess; Rustichini, Aldo.

    In: Journal of Economic Theory, Vol. 63, No. 1, 06.1994, p. 1-18.

    Research output: Contribution to journalArticle

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