Abstract
Using techniques drawn from recursive function theory, the computability of rational expectations equilibria in infinite horizon economies is investigated. The concept of a recursive economy is defined. An example of an overlapping generations model is given which is recursive but possesses only monetary equilibria which are non-computable
| Original language | English |
|---|---|
| Pages (from-to) | 133-142 |
| Number of pages | 10 |
| Journal | Mathematical social sciences |
| Volume | 25 |
| Issue number | 2 |
| Publication status | Published - Feb 1992 |
Keywords
- recursive function
- recursive economy