Browsing Max Weber Programme (MWP) by Author "HOELLE, Matthew"

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Browsing Max Weber Programme (MWP) by Author "HOELLE, Matthew"

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    Title: Sunspots and Multiplicity  Author(s): HOELLE, Matthew Date: 2011-01-01 Type of Publication: Working Paper Series/Report no.: EUI MWP Abstract: This paper proves that a multiplicity of certainty equilibria is not necessary for the existence of sunspot effects in two-period general equilibrium models with incomplete markets. Sunspot effects are present, by definition, ...