• Title of article

    A sunspot paradox

  • Author/Authors

    Thomas Hintermaier، نويسنده ,

  • Issue Information
    روزنامه با شماره پیاپی سال 2005
  • Pages
    6
  • From page
    285
  • To page
    290
  • Abstract
    This paper shows that the local stability properties of dynamic general equilibrium macroeconomic models may depend on the length of a period in the model economy. This leads to the following paradoxical situation: The economy may be driven by sunspots for some decision frequencies, while sunspots can have no impact at other decision frequencies.
  • Keywords
    Sunspots , High frequency , Temporal aggregation
  • Journal title
    Economics Letters
  • Serial Year
    2005
  • Journal title
    Economics Letters
  • Record number

    435670

    • Link To Document
    https://search.isc.ac/dl/search/defaultta.aspx?DTC=10&DC=435670