. We show that in order to get indeterminacy, the presence of both aggregate and sector-specific external effects is needed … consumption. We perform a sensitivity analysis and show that indeterminacy emerges for parameter values in line with those used in …

and generalized no-income-effect preferences à la Greenwood, Hercovitz and Huffman [13]. We provide a detailed theoretical … function of various structural parameters. We show that local indeterminacy occurs through flip and Hopf bifurcations for a …

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 are only labour external effects. We prove that sunspot fluctuations are …

the wage income, local indeterminacy of equilibria cannot occur with capital externalities alone but that it can occur … periods of life, homothetic preferences and productive external effects coming from the average capital and labour. We show … when there are only, however small, labour externalities. More precisely, under gross substitutability, the existence of …

-sector model with infinitely-lived households, we consider a specification of preferences derived from Jaimovich (2008) [14] and …

-constrained monetary economy with heterogenous agents and increasing returns to scale due to labour and capital productive externalities …. We find that indeterminacy emerges for empirically plausible values of the parameters, compatible with a downward …-sloping marginal productivity of labour curve. Moreover, we show that indeterminacy and Hopf bifurcations are possible with an …