Animal Spirits In A Monetary Model: Initial Comments — Brian Romanchuk

Summary:
Roger E.A. Farmer and Konstantin Platonov published "Animal Spirits in a Monetary Model" in 2019 (link). This is a continuation of Roger Farmer's research programme of working with DSGE-style models but with a notion of multiple equilibria. Within the framework, the final solution is pinned down by "animal spirits": beliefs about the future evolution of the economy.My comments here are tentative, as I am in the process of working through the mathematics of the paper. My objective is to spend some time with models like the one in this paper in the second volume of Recessions. Bond Economics Animal Spirits In A Monetary Model: Initial CommentsBrian Romanchuk

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