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A Macroeconomic Policy Game for a Monetary Union with Adaptive Expectations

✍ Scribed by Reinhard Neck; Doris A. Behrens

Publisher
Springer US
Year
2009
Tongue
English
Weight
284 KB
Volume
37
Category
Article
ISSN
0197-4254

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This paper presents a simple repeated-game model of interaction between an optimizing government and the private sector. Two polar cases are considered: (a) the private sector is represented by a single agent; and (b) there is a continuum of heterogenous atomistic private agents. In both cases, the