Imperfect competition and the modelling of expectations in macroeconomics
We show that when a model of the macroeconomy is based on imperfect, rather than perfect, competition, this may increase the problem of how to model agents’ expectations. We provide a simple example using an overlapping-generations economy with the potential for unemployment. Under certain assumptio...
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| Format: | article |
| Language: | eng |
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2018
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| Online Access: | http://hdl.handle.net/10400.5/15553 |
| Country: | Portugal |
| Oai: | oai:www.repository.utl.pt:10400.5/15553 |