Chang, Juin-Jen; Guo, Jang-Ting; Shieh, Jhy-Yuan; Wang, … - Institute of Economics, Academia Sinica - 2013
This paper examines the quantitative interrelations between sectoral composition of public spending and equilibrium (in)determinacy in a two-sector real business cycle model with positive productive externalities in investment. When government purchases of con- sumption and investment goods are...