INTRODUCTION TO THE SPECIAL ISSUE: COORDINATION IN DYNAMIC EXPECTATIONS MODELS: LEARNING AND SUNSPOTS

The title speaks for itself: This special issue focuses attention on dynamical models in which expectations matter and in which expectational coordination is not taken for granted. This is a subject that has generated a lot of research in the past 20 years; the sample of papers presented here is wit...

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Bibliographic Details
Published in:Macroeconomic dynamics 2003-02, Vol.7 (1), p.3-6
Main Authors: Evans, George W., Guesnerie, Roger
Format: Article
Language:English
Subjects:
Economic theory
Equilibrium
Labor supply
Learning
Macroeconomics
Random variables
Sunspots
Online Access:Get full text
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Summary:The title speaks for itself: This special issue focuses attention on dynamical models in which expectations matter and in which expectational coordination is not taken for granted. This is a subject that has generated a lot of research in the past 20 years; the sample of papers presented here is witness to the present activity and the ongoing progress of our understanding. Here, as in previous research, the rational expectations construct remains the anchor of the analysis of expectational coordination, but it is subject to the additional critical scrutiny for which the present state of our knowledge calls more and more.
ISSN:1365-1005
1469-8056
DOI:10.1017/S1365100501010276