[This paper begins by introducing three alternative properties of expectations: weak consistency, strong consistency, perfect foresight. These concepts are then used to consider the relationship between beginning-of-period (stock) equilibrium and end-of-period (flow) equilibrium for both discrete and continuous time. We show that in the former case the consistency between them requires not only that there be perfect foresight in predicting certain relevant variables but also that there be no accumulation of assets. In the latter case the relationship between the two equilibria rests on much weaker conditions. They are equivalent provided expectations satisfy our assumption of weak consistency.]

Journal Article Expectations and the Dynamics of Devaluation Get access Stephen J. Turnovsky Stephen J. Turnovsky Australian National University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 47, Issue 4, July 1980, Pages 679–704, https://doi.org/10.2307/2296936 Published: 01 July 1980 Article history Received: 01 May 1978 Accepted: 01 October 1979 Published: 01 July 1980

Journal Article Optimal Stabilization Policies for Stochastic Linear Systems: The Case of Correlated Multiplicative and Additive Disturbances Get access Stephen J. Turnovsky Stephen J. Turnovsky Australian National University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 43, Issue 1, February 1976, Pages 191–194, https://doi.org/10.2307/2296614 Published: 01 February 1976 Article history Received: 01 January 1975 Accepted: 01 February 1975 Published: 01 February 1976

Journal Article Technological and Price Uncertainty in a Ricardian Model of International Trade Get access Stephen J. Turnovsky Stephen J. Turnovsky Australian National University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 41, Issue 2, April 1974, Pages 201–217, https://doi.org/10.2307/2296713 Published: 01 April 1974

Journal Article Optimal Stabilization Policies for Deterministic and Stochastic Linear Economic Systems Get access Stephen J. Turnovsky Stephen J. Turnovsky Australian National University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 40, Issue 1, January 1973, Pages 79–95, https://doi.org/10.2307/2296741 Published: 01 January 1973

I. Introduction, 666. — II. Expectations and deterministic stability, 668. — III. Stochastic stability, 672. — IV. Stochastic stability of simple first order system, 675. — V. Stochastic stability of short-run fluctuations, 676. — VI. Stochastic stability with autocorrelated disturbances, 680. — VII. Concluding remarks, 681.