Indeterminacy of intertemporal equilibria under imperfect competition

Thumbnail Image
Files
18.pdf(214.04 KB)
Date
2001
Authors
Editors
Contact
Journal ISSN
Electronic ISSN
ISBN
Bibliographical data
Publisher
Series
URI (citable link)
urn:nbn:de:bsz:352-opus-88543
DOI (citable link)
ArXiv-ID
International patent number
Link to the license
In Copyright
EU project number
Project
Open Access publication
Collections
Wirtschaftswissenschaften
Restricted until
Title in another language
Research Projects
Organizational Units
Journal Issue
Publication type
Journal article
Publication status
Published in
Economic Theory ; 17 (2001), 2. - pp. 307-323
Abstract
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.
Summary in another language
Subject (DDC)
330 Economics
Keywords
Overlapping generations model,Imperfect competition,Indeterminacy,Expectations
Conference
Review
undefined / . - undefined, undefined. - (undefined; undefined)
Cite This
ISO 690KAAS, Leo, 2001. Indeterminacy of intertemporal equilibria under imperfect competition. In: Economic Theory. 17(2), pp. 307-323
BibTex
@article{Kaas2001Indet-12207,
  year={2001},
  title={Indeterminacy of intertemporal equilibria under imperfect competition},
  number={2},
  volume={17},
  journal={Economic Theory},
  pages={307--323},
  author={Kaas, Leo}
}
RDF
<rdf:RDF
    xmlns:dcterms="http://purl.org/dc/terms/"
    xmlns:dc="http://purl.org/dc/elements/1.1/"
    xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#"
    xmlns:bibo="http://purl.org/ontology/bibo/"
    xmlns:dspace="http://digital-repositories.org/ontologies/dspace/0.1.0#"
    xmlns:foaf="http://xmlns.com/foaf/0.1/"
    xmlns:void="http://rdfs.org/ns/void#"
    xmlns:xsd="http://www.w3.org/2001/XMLSchema#" > 
  <rdf:Description rdf:about="https://kops.uni-konstanz.de/server/rdf/resource/123456789/12207">
    <dc:contributor>Kaas, Leo</dc:contributor>
    <dcterms:available rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2011-03-25T09:43:28Z</dcterms:available>
    <void:sparqlEndpoint rdf:resource="http://localhost/fuseki/dspace/sparql"/>
    <dc:rights>terms-of-use</dc:rights>
    <bibo:uri rdf:resource="http://kops.uni-konstanz.de/handle/123456789/12207"/>
    <dc:date rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2011-03-25T09:43:28Z</dc:date>
    <dc:creator>Kaas, Leo</dc:creator>
    <dcterms:rights rdf:resource="https://rightsstatements.org/page/InC/1.0/"/>
    <dcterms:title>Indeterminacy of intertemporal equilibria under imperfect competition</dcterms:title>
    <dspace:isPartOfCollection rdf:resource="https://kops.uni-konstanz.de/server/rdf/resource/123456789/46"/>
    <dc:language>eng</dc:language>
    <dcterms:bibliographicCitation>First publ. in: Economic Theory 17 (2001), 2, pp. 307-323</dcterms:bibliographicCitation>
    <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>
    <dcterms:isPartOf rdf:resource="https://kops.uni-konstanz.de/server/rdf/resource/123456789/46"/>
    <foaf:homepage rdf:resource="http://localhost:8080/"/>
    <dcterms:issued>2001</dcterms:issued>
    <dspace:hasBitstream rdf:resource="https://kops.uni-konstanz.de/bitstream/123456789/12207/1/18.pdf"/>
    <dcterms:hasPart rdf:resource="https://kops.uni-konstanz.de/bitstream/123456789/12207/1/18.pdf"/>
    <dc:format>application/pdf</dc:format>
  </rdf:Description>
</rdf:RDF>
Internal note
xmlui.Submission.submit.DescribeStep.inputForms.label.kops_note_fromSubmitter
Contact
URL of original publication
Test date of URL
Examination date of dissertation
Method of financing
Comment on publication
Alliance license
Corresponding Authors der Uni Konstanz vorhanden
International Co-Authors
Bibliography of Konstanz
No
Refereed