fiscal policy rule, steady state indeterminacy may arise as a result of endogenously determined labor income tax rates. This … a combination of capital and labor income taxes. This paper revisits the issue of indeterminacy and aggregate …

fiscal policy rule, steady state indeterminacy may arise as a result of endogenously determined labor income tax rates. This … a combination of capital and labor income taxes. This paper revisits the issue of indeterminacy and aggregate …

issue is of importance for assessing the possibility of equilibrium indeterminacy and sunspot-driven business cycles. The … equilibrium perspective. I argue that the question of indeterminacy is a property of a system and cannot be conclusively answered … by single equation methods. Moreover, estimates of returns to scale will be biased when the possibility of indeterminacy …