Testable Implications of Indeterminacies in Models with Rational Expectations
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The possibility that movements in market prices of assets or goods may be caused by self-fulfilling prophecies, called bubbles or sunspots, has long intrigued market observers. If bubbles or sunspots exist, market prices differ from their fundamental values, and markets do not necessarily allocate
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美国国家经济研究局创建时间:
1989-03-01



