Re: Colander and New Keynesian Economics

[FAC_BROSSER@xxxxxxxxxxxxxxxx]

Dear Paul,
    I beg to differ; the "ifs" are not ad hoc hedges.  Grandmont in
particular sets out to show that nonlinearity _causes_ the
fundamental problem of "expectations coordination" leading to failure
to adjust which is essentially the basis for "fundamental uncertainty"
on which you base your model (everybody agrees there is money, if not
just what it is).
     Have a convergent day!
Barkley Rosser
JMU