We establish conditions under which indeterminacy can occur in a small open economy business cycle model with … endogenous labor supply. Indeterminacy requires small externalities in technologies with social constant returns to scale …

of equilibria beyond the class of strongly stationary equilibria comes from the presence of indeterminacy: we propose a … restrict the domain of possible prices; then if some indeterminacy is left, expectation functions are introduced to make the …

that indeterminacy of steady states and cycles can easily arise with constant or decreasing social returns to scale, and … increasing social returns are required to generate indeterminacy. …

the number of terminal date-events. Stickiness of prices implies that this indeterminacy is real. Copyright Springer …

stationary equilibria. The reason of this indeterminacy is that different price expectation functions of consumers lead to … arbitrariness which is responsible for the indeterminacy, but that the continuum of stationary equilibria emerges even if …

This paper shows, in the benchmark one-sector Ramsey model, that indeterminacy and sunspots may occur when … the results are the general formulations of both preferences and technology that we consider. In particular, indeterminacy … positively sloped, indeterminacy does not necessarily require the equilibrium wage-hours locus to be upward sloping. Copyright …