global indeterminacy. These theoretical results support the large empirical literature on the relationship between financial …

. 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 …

This paper empirically examines whether there exists stochastic convergence of income inequality among 48 contiguous … evidence in support of the hypothesis of inter-state inequality convergence. Moreover, the results are robust to alternative … inequality measures applied, different notions of stochastic convergence defined, and alternative panel stationary test employed. …

This paper analyzes the time stability of the GDP beta convergence in two subsamples: EU27 countries during 1993 … compared with the widely cited 2% rate of convergence. (2) The pure mechanism of conditional convergence of the countries under … study was rather constant over time: there were periods of more rapid or slower convergence but the differences were not as …

Considering that monetary policy instability may cause indeterminacy of the macroeconomic equilibrium, this paper … derives the boundary condition between determinacy and indeterminacy in a small open economy DSGE model, and then uses this … model to investigate China's monetary policy and macroeconomic fluctuations under indeterminacy during the period from 1992 …

externality helps to generate equilibrium indeterminacy together with production externality. Specifically, the existence of … consumption externality reduces the upper and lower bounds of production externality for local indeterminacy, and when the degree … of consumption externality increases, the upper and lower bounds of production externalities for local indeterminacy are …