In this paper, we study the problem of expectations coordination on the stationary state in a one-dimensional economy with heterogeneous agents. We consider a constant gain adaptive learning rule. We allow for heterogeneity of the fundamentals and of the constant gain parameters. We show that these two sources of heterogeneity may create difficulties to the process of coordination. © 2002 Elsevier Science B.V. All rights reserved.
Negroni, G. (2003). Adaptive expectations coordination in an economy with heterogeneous agents. JOURNAL OF ECONOMIC DYNAMICS & CONTROL, 28(1), 117-140 [10.1016/S0165-1889(02)00109-4].
Adaptive expectations coordination in an economy with heterogeneous agents
Negroni G.
Writing – Original Draft Preparation
2003
Abstract
In this paper, we study the problem of expectations coordination on the stationary state in a one-dimensional economy with heterogeneous agents. We consider a constant gain adaptive learning rule. We allow for heterogeneity of the fundamentals and of the constant gain parameters. We show that these two sources of heterogeneity may create difficulties to the process of coordination. © 2002 Elsevier Science B.V. All rights reserved.File in questo prodotto:
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