CONVERGENCE OF LEAST-SQUARES LEARNING TO A NONSTATIONARY EQUILIBRIUM

被引：8

作者：

EVANS, GW

HONKAPOHJA, S

机构：

[1] UNIV HELINSKI,DEPT ECON,BOX 54,SF-00014 HELSINKI,FINLAND

[2] UNIV EDINBURGH,DEPT ECON,EDINBURGH EH8 9JY,SCOTLAND

[3] ACAD FINLAND,HELSINKI,FINLAND

来源：

ECONOMICS LETTERS | 1994年 / 46卷 / 02期

关键词：

D O I：

10.1016/0165-1765(94)90007-8

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Linear rational expectations models can have explosive equilibria. For a linear model with multiple AR(1) solutions we show that least squares learning can converge to an explosive AR(1) equilibrium if a stability condition is met.

引用

页码：131 / 136

页数：6

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