Herrendorf, Berthold; Valentinyi, Akos - C.E.P.R. Discussion Papers - 2002
with sector–specific externalities. We show analytically that capital adjustment costs of any size preclude local … show that when capital adjustment costs of any size are considered, a necessary condition for local indeterminacy is an …. We show numerically that capital adjustment costs of plausible size imply determinacy nearby the steady state for …