Journal of Political Economy Vol. 85 No. 2 1977
On Two Specifications of Asset Equilibrium in Macroeconomic Models: A Note
Abstract
[The continuous version of the end-of-period equilibrium specification is shown to exist when there is a sequence of temporary equilibria. This is also a sufficient condition for the continuous versions of the beginning-of-period and end-of-period specifications to be equivalent. This refutes Foley's contention that perfect foresight is a necessary condition for these results.]
- Volume
- 85
- Issue
- 2
- Pages
- 395-400
- Sources
- bibtex:phds-export.bib