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Sunspots and Non-Linear Dynamics

Essays in Honor of Jean-Michel Grandmont

  • Book
  • © 2017

Overview

Editors:
  1. Kazuo Nishimura

    1. Research Institute for Economics and Business Administration, Kobe University, Kobe, Japan

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  2. Alain Venditti

    1. GREQAM, Marseille, France

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  3. Nicholas C. Yannelis

    1. Department of Economics, University of Iowa , Iowa-City, USA

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  • Presents the state-of-the-art in non-linear dynamics and sunspots
  • Dedicated to Jean-Michel Grandmont who has significantly influenced research in this field
  • Assembles contributions from an international conference at Marseille School of Economics and GREQAM
  • Includes supplementary material: sn.pub/extras

Part of the book series: Studies in Economic Theory (ECON.THEORY, volume 31)

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Table of contents (17 chapters)

  1. Front Matter

    Pages i-vi
    Download chapter PDF

  2. Introduction

    • Kazuo Nishimura, Alain Venditti, Nicholas C. Yannelis
    Pages 1-11

  3. Self-Fulfilling Expectations and Sunspots

    1. Front Matter

      Pages 13-13
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    2. Assessing the Local Stability Properties of Discrete Three-Dimensional Dynamical Systems: A Geometrical Approach with Triangles and Planes and an Application with Some Cones

      • Jean-Paul Barinci, Jean-Pierre Drugeon
      Pages 15-39

    3. From Sunspots to Black Holes: Singular Dynamics in Macroeconomic Models

      • Paulo B. Brito, Luís F. Costa, Huw D. Dixon
      Pages 41-70

    4. Sunspot Fluctuations in Two-Sector Models with Variable Income Effects

      • Frédéric Dufourt, Kazuo Nishimura, Carine Nourry, Alain Venditti
      Pages 71-96

    5. From Self-Fulfilling Mistakes to Behavioral Learning Equilibria

      • Cars Hommes
      Pages 97-123

    6. Regime-Switching Sunspot Equilibria in a One-Sector Growth Model with Aggregate Decreasing Returns and Small Externalities

      • Takashi Kamihigashi
      Pages 125-146

    7. Equilibrium Dynamics in a Two-Sector OLG Model with Liquidity Constraint

      • Antoine Le Riche, Francesco Magris
      Pages 147-174

    8. Homoclinic Orbit and Stationary Sunspot Equilibrium in a Three-Dimensional Continuous-Time Model with a Predetermined Variable

      • Hiromi Murakami, Kazuo Nishimura, Tadashi Shigoka
      Pages 175-200

  4. Bubbles and Stabilizing Policy

    1. Front Matter

      Pages 201-201
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    2. Rational Land and Housing Bubbles in Infinite-Horizon Economies

      • Stefano Bosi, Cuong Le Van, Ngoc-Sang Pham
      Pages 203-230

    3. The Stabilizing Virtues of Monetary Policy on Endogenous Bubble Fluctuations

      • Lise Clain-Chamosset-Yvrard, Thomas Seegmuller
      Pages 231-257

    4. Can Consumption Taxes Stabilize the Economy in the Presence of Consumption Externalities?

      • Teresa Lloyd-Braga, Leonor Modesto
      Pages 259-278

  5. Growth

    1. Front Matter

      Pages 279-279
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    2. Uncertainty and Sentiment-Driven Equilibria

      • Jess Benhabib, Pengfei Wang, Yi Wen
      Pages 281-304

    3. Technological Progress, Employment and the Lifetime of Capital

      • Raouf Boucekkine, Natali Hritonenko, Yuri Yatsenko
      Pages 305-337

    4. Nonbalanced Growth in a Neoclassical Two-Sector Optimal Growth Model

      • Harutaka Takahashi
      Pages 339-359

  6. General Equilibrium

    1. Front Matter

      Pages 361-361
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    2. An Argument for Positive Nominal Interest

      • Gaetano Bloise, Herakles Polemarchakis
      Pages 363-385
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Keywords

About this book

This book presents the state-of-the-art in non-linear dynamics and sunspots. These two topics have been the core of an international conference on instability and public policies in a globalized world, organized at Aix-Marseille School of Economics and GREQAM in honor of Jean-Michel Grandmont. He has made significant contributions on general equilibrium theory, monetary theory, learning, aggregation, non-linear dynamics and sunspots. This book assembles contributions by Jean-Michel Grandmont's colleagues, students and friends that have been influenced by his works and that are at the frontier of research in this domain today.

Editors and Affiliations

  • Research Institute for Economics and Business Administration, Kobe University, Kobe, Japan

    Kazuo Nishimura

  • GREQAM, Marseille, France

    Alain Venditti

  • Department of Economics, University of Iowa , Iowa-City, USA

    Nicholas C. Yannelis

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