Indeterminacy and Sunspots in Macroeconomics

Organized by Jess Benhabib and Takashi Kamihigashi

A Conference Jointly Sponsored
by the Center for Game Theory in Economics at SUNY-Stony Brook and the C.V. Starr Center at NYU

November 21 to November 23, 1997

New York University, New York



8:30-9:15 A.A. John and A.L. Wolman: Does State Dependent Pricing Imply Coordination Failure?

9:30-10:15 R. Clarida, J. Gali, and M. Gertler: Monetary Policy Rules and Macroeconomics Stability and Some Theory

11:00-11:45 S. Schmitt-Grohe and M. Uribe: Price Level Determinacy and Monetary Policy under a Balanced-Budget Requirement

12:00-12:45 J.-T. Guo and K.J. Lansing: Fiscal Policy, Increasing Returns, and Endogenous Fluctuations

2:30-3:15 Y. Wen: Capacity Utilization under Increasing Returns to Scale

3:30-4:15 M. Weder: Fickle Consumers, Durable Goods, and Business Cycles

5:00-5:45 R.E.A. Farmer: How to Price a Tree


8:30-9:15 G. Cazzavillan, T. Lloyd-Braga, and P.A. Pintus: Multiple Steady States and Endogenous Fluctuations with Increasing Returns to Scale in Production

9:30-10:15 G. Evans, S. Honkapohja, and P. Romer: Growth Cycles

11:00-11:45 E. Loyo: Going International with the Fiscal Theory of the Price Level

12:00-12:45 M. Uribe: Real Exchange Rate Targeting and Macroeconomic Instability

2:30-3:15 C. Chamley: Social Learning, Delays, and Multiple Equilibria

3:30-4:15 R.W. Cooper and D. Corbae: Financial Fragility and the Great Depression

5:00-5:45 C. Azariadis and S. Chakraborty: Agency Cost in Models of Economic Growth


8:30-9:15 J. Benhabib and K. Nishimura: Indeterminacy under Constant Returns to Scale in Multisector Economies

9:30-10:15 P. Gottardi and A. Kajii: The Structure of Sunspot Equilibria: The Role of Multiplicity

11:00-11:45 T. Kamihigashi: Externalities and Nonlinear Discounting: Indeterminacy

12:00-12:45 K. Mino: Indeterminacy in Convex Models of Endogenous Growth