We provide a methodology to study the role of market distortions on the emergence of indeterminacy and bifurcations … classes of distortions responsible for indeterminacy. Our methodology consists in introducing general specifications for the … distortions influence the range of values for the elasticity of inputs substitution under which local indeterminacy and …

We provide a methodology to study the role of market distortions on the emergence of indeterminacy and bifurcations … classes of distortions responsible for indeterminacy. Our methodology consists in introducing general specifications for the … distortions influence the range of values for the elasticity of inputs substitution under which local indeterminacy and …

fluctuations (associated with local indeterminacy and bifurcations) are possible with smaller externalities, whatever the relative … properties of two countries with identical technologies and preferences. We consider a two-factor overlapping generations model … increasing returns to scale in production (fixed costs and externalities). In one country there is full employment and saddle …

taxes under a balanced-budget rule in the presence of consumption externalities of the "keeping up with the Joneses" type … eliminating belief-driven cyclical fluctuations. Moreover, for higher values of consumption externalities, saddle path stability … models with "keeping up with the Joneses" preferences call for traditional Keynesian demand-management policies in order to …

taxes under a balanced-budget rule in the presence of consumption externalities of the keeping up with the Joneses type. We … belief-driven cyclical fluctuations. Moreover, for higher values of consumption externalities, saddle path stability can only … with keeping up with the Joneses preferences call for traditional Keynesian demand-management policies in order to …

' preferences and the size of government. We devise a series of representative survey experiments in Germany that randomly provide … specific education reforms. Preferences on spending across education levels are also malleable to information. …

do not match their occupational preferences prior to enrolling in university are more likely to drop out than those who … do choose majors that match their occupational preferences. Our findings suggest that this gap cannot be explained by …

The ability to uncover preferences from choices is fundamental for both positive economics and welfare analysis … applied microeconomics. However, as is well known, it is not possible to infer the structure of preferences in the absence of … structure of preferences. Here, we show that the difficulty can be bypassed if data sets are enlarged to include response times …