Costly Adjustment under Rational Expectations: A Generalization
推广了Sargent（1978）的标准调整成本-理性预期模型，引入改变决策变化速度的成本，证明了唯一稳定解的存在，给出了显式解和识别条件，并应用于英国煤炭行业就业（1956-83）。
This note provides a generalization of the standard adjustment cost-rational expectations model due to Sargent (1978), which, in addition to the cost of changing the level of the decision variable, also allows for the cost of altering the speed with which decisions are changed. It establishes the existence of a unique stable solution for this more general model, derives an explicit solution for the underlying decision problem, and provides a necessary order condition for identification of the structural parameters. The note also contains an application of the model to the determination of employment in the U.K. coal industry over the 1956-83 period. Copyright 1991 by MIT Press.