Indeterminacy of intertemporal equilibria under imperfect competition

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KAAS, Leo, 2001. Indeterminacy of intertemporal equilibria under imperfect competition. In: Economic Theory. 17(2), pp. 307-323

@article{Kaas2001Indet-12207, title={Indeterminacy of intertemporal equilibria under imperfect competition}, year={2001}, number={2}, volume={17}, journal={Economic Theory}, pages={307--323}, author={Kaas, Leo} }

<rdf:RDF xmlns:dcterms="" xmlns:dc="" xmlns:rdf="" xmlns:bibo="" xmlns:dspace="" xmlns:foaf="" xmlns:void="" xmlns:xsd="" > <rdf:Description rdf:about=""> <dc:date rdf:datatype="">2011-03-25T09:43:28Z</dc:date> <dc:format>application/pdf</dc:format> <dc:rights>terms-of-use</dc:rights> <bibo:uri rdf:resource=""/> <dcterms:bibliographicCitation>First publ. in: Economic Theory 17 (2001), 2, pp. 307-323</dcterms:bibliographicCitation> <dc:contributor>Kaas, Leo</dc:contributor> <dcterms:hasPart rdf:resource=""/> <dcterms:rights rdf:resource=""/> <dc:language>eng</dc:language> <dcterms:isPartOf rdf:resource=""/> <foaf:homepage rdf:resource="http://localhost:8080/jspui"/> <dspace:hasBitstream rdf:resource=""/> <dc:creator>Kaas, Leo</dc:creator> <dcterms:available rdf:datatype="">2011-03-25T09:43:28Z</dcterms:available> <dcterms:abstract xml:lang="eng">It is known that overlapping generations models with imperfectly competitive firms may exhibit a continuum of stationary equilibria. The reason of this indeterminacy is that different price expectation functions of consumers lead to different objective demand functions against which firms maximize. All these expectation functions fulfill perfect foresight in the equilibrium, but they can be arbitrary off the equilibrium. In this paper it is shown that it is not this arbitrariness which is responsible for the indeterminacy, but that the continuum of stationary equilibria emerges even if expectation functions are rational.</dcterms:abstract> <dspace:isPartOfCollection rdf:resource=""/> <dcterms:issued>2001</dcterms:issued> <void:sparqlEndpoint rdf:resource="http://localhost/fuseki/dspace/sparql"/> <dcterms:title>Indeterminacy of intertemporal equilibria under imperfect competition</dcterms:title> </rdf:Description> </rdf:RDF>

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