Sunspots and Non-Linear Dynamics, 1st ed. 2017 Essays in Honor of Jean-Michel Grandmont Studies in Economic Theory Series, Vol. 31

I. Self-fulfilling Expectations and Sunspots.- Assessing the Local Stability Properties of Discrete Three-Dimensional Dynamical Systems: a Geometrical Approach with Triangles and Planes & an Application with some Cones.- From Sunspots to Black Holes: Singular Dynamics in Macroeconomic Models.- Sunspot Fluctuations in Two-Sector Models with Variable Income Effects.- A Survey on Self-Fulfilling Mistakes.- Regime-Switching Sunspot Equilibria in a One-Sector Growth Model with Aggregate Decreasing Returns and Small Externalities.- Equilibrium Dynamics in a Two-Sector OLG Model with Liquidity Constraint.- Sunspots and Homoclinic Bifurcations in Continuous-Time Endogenous Growth Models.- II. Bubbles and Stabilizing Policy.- Rational Land and Housing Bubbles in Infinite-Horizon Economies.- The Stabilizing Virtues of Monetary Policy on Endogenous Bubble Fluctuations.- Can Consumption Taxes Stabilize the Economy in the Presence of Consumption Externalities?.- III. Growth.- Uncertainty and Sentiment-Driven Equilibria.- Technological Progress, Employment and the Lifetime of Capital.- Nonbalanced Growth in a Neoclassical Two-sector Optimal Growth Model.- IV. General Equilibrium.- An Argument for Positive Nominal Interest.- Winners and Losers from Price-Level Volatility: Money Taxation and Information Frictions.- A Note on Information, Trade and Common Knowledge.

Presents the state-of-the-art in non-linear dynamics and sunspots

Dedicated to Jean-Michel Grandmont who has significantly influenced research in this field

Assembles contributions from an international conference at Marseille School of Economics and GREQAM

Includes supplementary material: sn.pub/extras