Lloyd-Braga, Teresa; Nourry, Carine; Venditti, Alain - C.E.P.R. Discussion Papers - 2006
In this paper we consider a Ramsey one-sector model with non-separable homothetic preferences, endogenous labour and productive external effects arising from average capital and labour. We show that indeterminacy cannot arise when there are only capital externalities but that it does when there...