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Persistent link: https://www.econbiz.de/10005160016
This paper shows imperfect competition can lead to indeterminacy in aggregate output in a standard DSGE model with imperfect competition. Indeterminacy arises in the model from the composition of aggregate output. In sharp contrast to the indeterminacy literature pioneered by Benhabib and Farmer...
Persistent link: https://www.econbiz.de/10005117535