| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 965886 | Journal of Macroeconomics | 2013 | 13 Pages |
Abstract
⺠Stationarity inducing devices under incomplete markets can affect model stability. ⺠If slope of excess demand in steady state is negative, models are always stable. ⺠If slope is positive, dynamics are unbounded for portfolio cost approach. ⺠With Uzawa-type preferences, dynamics are always bounded and locally unique.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Martin Bodenstein,