Sunspots and Non-Linear Dynamics: Essays in Honor of Jean-Michel Grandmont

by Kazuo Nishimura (Editor), Alain Venditti (Editor), Nicholas C. Yannelis (Editor)

Overview

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.

Product Details

ISBN-13:	9783319829760
Publisher:	Springer International Publishing
Publication date:	05/02/2018
Series:	Studies in Economic Theory , #31
Edition description:	Softcover reprint of the original 1st ed. 2017
Pages:	409
Product dimensions:	6.10(w) x 9.25(h) x (d)

Table of Contents

I. Self-fulfilling Expectations and Sunspots.- Assessing the Local Stability Properties of Discrete Three-Dimensional Dynamical Systems: a Geometrical Approach with Triangles and Planes & an Application with some Cones.- From Sunspots to Black Holes: Singular Dynamics in Macroeconomic Models.- Sunspot Fluctuations in Two-Sector Models with Variable Income Effects.- A Survey on Self-Fulfilling Mistakes.- Regime-Switching Sunspot Equilibria in a One-Sector Growth Model with Aggregate Decreasing Returns and Small Externalities.- Equilibrium Dynamics in a Two-Sector OLG Model with Liquidity Constraint.- Sunspots and Homoclinic Bifurcations in Continuous-Time Endogenous Growth Models.- II. Bubbles and Stabilizing Policy.- Rational Land and Housing Bubbles in Infinite-Horizon Economies.- The Stabilizing Virtues of Monetary Policy on Endogenous Bubble Fluctuations.- Can Consumption Taxes Stabilize the Economy in the Presence of Consumption Externalities?.- III. Growth.- Uncertainty and Sentiment-Driven Equilibria.- Technological Progress, Employment and the Lifetime of Capital.- Nonbalanced Growth in a Neoclassical Two-sector Optimal Growth Model.- IV. General Equilibrium.- An Argument for Positive Nominal Interest.- Winners and Losers from Price-Level Volatility: Money Taxation and Information Frictions.- A Note on Information, Trade and Common Knowledge.