indeterminacy occurs through flip and Hopf bifurcations for a large set of values of the elasticity of intertemporal substitution in … indeterminacy occurs through flip and Hopf bifurcations for any value of the elasticity of the labor supply, and can even be …

function of various structural parameters. We show that local indeterminacy occurs through flip and Hopf bifurcations for a …

function of various structural parameters. We show that local indeterminacy occurs through flip and Hopf bifurcations for a …

We analyze local indeterminacy and sunspot-driven fluctuations in the standard two-sector model with additively … corresponding parameter space. We also show that local indeterminacy can be obtained under any labor supply elasticity or under an … arbitrarily low elasticity of intertemporal substitution in consumption. On the empirical side, we find that indeterminacy and …

indeterminacy occurs through flip and Hopf bifurcations for a large set of values of the elasticity of intertemporal substitution in … indeterminacy occurs through flip and Hopf bifurcations for any value of the elasticity of the labor supply, and can even be …

indeterminacy occurs through flip and Hopf bifurcations for a large set of values of the elasticity of intertemporal substitution in … indeterminacy occurs through flip and Hopf bifurcations for any value of the elasticity of the labor supply, and can even be …

This paper shows, in the benchmark one-sector Ramsey model, that indeterminacy and sunspots may occur when … externalities are small, provided that capital and labor are more substitutable than in the usual Cobb-Douglas specification. Key to … the results are the general formulations of both preferences and technology that we consider. In particular, indeterminacy …

indeterminate and stable sunspots are possible. We find that capital adjustment costs of any size preclude stable sunspots for every … size are considered, a necessary condition for the existence of stable sunspots is an upward-sloping labour demand curve in … the standard result that when we abstract from capital adjustment costs, stable sunspots occur in the two-sector model for …