Indeterminacy in a small open economy with endogenous labor supply

We establish conditions under which indeterminacy can occur in a small open economy business cycle model with endogenous labor supply. Indeterminacy requires small externalities in technologies with social constant returns to scale, independently of the intertemporal elasticities in both consumption and labor. Copyright Springer-Verlag Berlin Heidelberg 2003

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Year of publication:	2003
Authors:	Meng, Qinglai ; Velasco, Andrés
Published in:	Economic Theory. - Springer. - Vol. 22.2003, 3, p. 661-669
Publisher:	Springer
Subject:	Indeterminacy \| Small open economy \| Business cycles

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Extent:	text/html
Type of publication:	Article
Classification:	E32 - Business Fluctuations; Cycles ; F12 - Models of Trade with Imperfect Competition and Scale Economies ; F4 - Macroeconomic Aspects of International Trade and Finance
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005370678