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 |
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Pages (from-to) | 133-142 |
Number of pages | 10 |
Journal | Mathematical social sciences |
Volume | 25 |
Issue number | 2 |
Publication status | Published - Feb 1992 |
Keywords / Materials (for Non-textual outputs)
- recursive function
- recursive economy