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
收藏
页码：131 / 136
页数：6
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