TY - JOUR
T1 - Introduction to the symposium on growth, fluctuations, and sunspots
T2 - Confronting the data
AU - Benhabib, Jess
AU - Rustichini, Aldo
PY - 1994/6
Y1 - 1994/6
N2 - The papers in this symposium demonstrate the theoretical as well as the empirical plausibility of indeterminacy and of sunspots in equilibrium models with infinitely lived agents. They depart from the standard competitive framework because of the presence of externalities or of monopolistic competition. Some focus on business fluctuations while others address long-run growth. The second part of the Introduction presents a general unifying framework to identify the structure that is common to the papers of the symposium. Journal of Economic Literature Classification Numbers: E00, E3, O40.
AB - The papers in this symposium demonstrate the theoretical as well as the empirical plausibility of indeterminacy and of sunspots in equilibrium models with infinitely lived agents. They depart from the standard competitive framework because of the presence of externalities or of monopolistic competition. Some focus on business fluctuations while others address long-run growth. The second part of the Introduction presents a general unifying framework to identify the structure that is common to the papers of the symposium. Journal of Economic Literature Classification Numbers: E00, E3, O40.
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U2 - 10.1006/jeth.1994.1030
DO - 10.1006/jeth.1994.1030
M3 - Article
AN - SCOPUS:0002650097
SN - 0022-0531
VL - 63
SP - 1
EP - 18
JO - Journal of Economic Theory
JF - Journal of Economic Theory
IS - 1
ER -