This paper quantitatively investigates equilibrium indeterminacy due to economies of scale (ES) in financial … calibrated to match US data: (i) indeterminacy arises for small degrees of ES; (ii) sunspot shocks qualitatively resemble …

Bayesian techniques that allow for both determinacy and indeterminacy of the equilibrium. Our empirical analysis shows that the … enough. We demonstrate that the impulse responses under indeterminacy exhibit different dynamics than those under determinacy …

phenomena may cause global indeterminacy even if the stationary equilibria are locally determinate. …

In his paper "Does utility curvature matter for indeterminacy", Kim (2005) analyzed the relationship among the utility … function form, curvature and indeterminacy, concluding that the relationship between curvature and indeterminacy is not robust … in neoclassical growth model and the indeterminacy may disappear under the utility specification as in Greenwood et …

indeterminacy and sunspots as tariff rates are endogenously determined by a balanced-budget rule with a constant level of government … rates is immune to indeterminacy. …

with the previous result that the existence of endogenous labor income taxes raises the possibility of local indeterminacy … consumption--to--wage ratio associated with local indeterminacy, because of two conflicting effects on savings that operate …

reasonable share of first period consumption over the wage income, local indeterminacy can easily occur with small distortionary …