Self-Fulfilling Expectations and Fluctuations in Aggregate Demand
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The paper presents an intertemporal general equilibrium model with rationing in the product market, in which stationary sunspot equilibria are shown to exist, indicating the possibility of fluctuations in economic activity simply due to self-fulfilling variations in economic agents' expectations.
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美国国家经济研究局创建时间：
1990-05-01
