Construct · 1 fields · 1 citations

sunspot equilibrium: a standalone construct

One name. One construct. A landmark on the map.

● anchor · a standalone construct Nearest construct by meaning·not indexed
sunspotequilibrium1 CONSTRUCTSunspot equilibriumCASS · MACROECONOMICS

A single standalone construct; nearby constructs are located against it in the Collider. Tap a field for its definition, unit, and measures.

Macroeconomics

an equilibrium in which outcomes vary with a random signal unrelated to fundamentals only because agents believe the signal matters.

In macroeconomics, sunspot equilibrium refers to an equilibrium in which outcomes vary with a random signal unrelated to fundamentals only because agents believe the signal matters. This meaning comes from Cass (1983) in Journal of Political Economy.[1]

Unit
Recovery means
Measured by

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Nearby constructs

equilibrium4 fields · 4 citationsjingle · one word, four constructssignal5 fields · 5 citationsjingle · one word, five constructs

References

  1. Cass, D., & Shell, K. (1983). Do Sunspots Matter? Journal of Political Economy, 91(2), 193-227. https://doi.org/10.1086/261139

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