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A sunspot paradox [An article from: Economics Letters] | ![A sunspot paradox [An article from: Economics Letters]](http://ecx.images-amazon.com/images/I/51QYS7E08SL._SL160_.jpg)
 enlarge | Author: T. Hintermaier
Publisher: Elsevier
Buy New: $4.95
Format: Html
Media: Digital
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Product Description
This digital document is a journal article from Economics Letters, published by Elsevier in 2005. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.
Description:
This paper shows that the local stability properties of dynamic general equilibrium macroeconomic models may depend on the length of a period in the model economy. This leads to the following paradoxical situation: The economy may be driven by sunspots for some decision frequencies, while sunspots can have no impact at other decision frequencies.
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