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On Non-Uniqueness in Rational Expectations Models: An Attempt at Perspective

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NBER1981-06-01 更新2025-01-04 收录
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https://www.nber.org/papers/w0684
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Many macroeconomic models involving rational expect at ions give rise to an infinity of solution paths, even when the models are linear in all variables. Some writers have suggested that this non-uniqueness constitutes a serious weakness for the rational expectations hypothesis. One purpose of the
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1981-06-01
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