Herrendorf, Berthold; Valentinyi, Akos - Közgazdaság-tudományi Intézet, Közgazdaság- és … - 2000
This paper explores the stability properties of the steady state in the standard two-sector real business cycle model with a sector-specific externality in the capital-producing sector. When the steady state is stable then equilibrium is indeterminate and stable sunspots are possible. We find...