indeterminacy in the model. When public sector production adds to private sector output, the setup exhibits "sink" dynamics, and …

function of various structural parameters. We show that local indeterminacy occurs through flip and Hopf bifurcations for a …

We analyze local indeterminacy and sunspot-driven fluctuations in the standard two-sector model with additively … corresponding parameter space. We also show that local indeterminacy can be obtained under any labor supply elasticity or under an … arbitrarily low elasticity of intertemporal substitution in consumption. On the empirical side, we find that indeterminacy and …

indeterminacy occurs through flip and Hopf bifurcations for a large set of values of the elasticity of intertemporal substitution in … indeterminacy occurs through flip and Hopf bifurcations for any value of the elasticity of the labor supply, and can even be …

indeterminacy occurs through flip and Hopf bifurcations for a large set of values of the elasticity of intertemporal substitution in … indeterminacy occurs through flip and Hopf bifurcations for any value of the elasticity of the labor supply, and can even be …

We investigate externalities in higher education enrollment over the course of development in a two-sector model. Each … acquiring human capital. Both sectors exhibit productivity externalities in the size of the skill-specific labor and in the …