Sunspots do matter: A simple disproof of Mas-Colell

Marco Huesch

Research output: Contribution to journalArticlepeer-review

Abstract

Mas-Colell conjectured that, for economies admitting a unique deterministic equilibrium, sunspot equilibria that 'matter' would not exist. I prove an abundance of such equilibria using simple linear algebra.

Original languageEnglish (US)
JournalEconomics Bulletin
Volume5
Issue number19
StatePublished - Jul 3 2008

All Science Journal Classification (ASJC) codes

  • Economics, Econometrics and Finance(all)

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