Indeterminacy in the small open economy Ramsey growth model

Mark Weder

This paper constructs a small open economy version of the two sector Benhabib-Farmer (1996) indeterminacy model. It can be shown that sunspot equilibria arise at significantly lower magnitude of increasing returns to scale than in the original dosed economy model. Furthermore, if a mix of externalities across sectors is admitted, indeterminacy can be obtained even with decreasing aggregate returns to scale.

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Year of publication:	1999
Authors:	Weder, Mark
Institutions:	Sonderforschungsbereich Quantifikation und Simulation Ökonomischer Prozesse (contributor)
Publisher:	Berlin : Humboldt-Universität
Subject:	Kleine offene Volkswirtschaft \| Small open economy \| Optimales Wachstum \| Optimal growth \| Mehrsektoren-Modell \| Multisectoral model \| Ländliche Armut \| Rural poverty \| Konjunkturtheorie \| Business cycle theory

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Extent:	Online-Ressource (PDF-Datei: 16 S., 231,16 KB) graph. Darst.
Series:	Discussion papers of interdisciplinary research project 373. - Berlin : Humboldt-Universität, ISSN 1436-1086, ZDB-ID 2135319-0. - Vol. 1999,30
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Systemvoraussetzungen: Acrobat reader
Other identifiers:	hdl:10419/61718 [Handle]
Classification:	F4 - Macroeconomic Aspects of International Trade and Finance ; E32 - Business Fluctuations; Cycles
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10009580484