. We show that in order to get indeterminacy, the presence of both aggregate and sector-specific external effects is needed … consumption. We perform a sensitivity analysis and show that indeterminacy emerges for parameter values in line with those used in …

, homothetic preferences and productive external effects [Lloyd-Braga et al., 2007. Indeterminacy in dynamic models: When Diamond … period consumption over the wage income, local indeterminacy can easily occur for mild externalities if constant government … mild externalities, small government expenditures are helpful to local indeterminacy, while large government expenditures …

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 …

homothetic preferences (e.g., Lloyd-Braga, Nourry and Venditti, 2007). We show that under numerical calibrations of the … parameters, local indeterminacy can occur for distortionary tax rates that are empirically plausible for the U.S. economy … the elasticity of intertemporal substitution in consumption is slightly greater than unity. These indeterminacy conditions …

does not tell the full story. With externalities smaller than required for local indeterminacy, local analysis shows the …We investigate the global dynamics of RBC models with production externalities. We confirm that purely local analysis … stable deterministic cycles. Our analysis suggests that indeterminacy is more robust than previously realized, and the …

environmental externalities such as pollution. We argue that consumer contracts generate externalities by overwhelming consumers …

generates positive externalities on other firms, because employed workers have more income to spend and have less time to shop … for low prices than unemployed workers. We quantify these shopping externalities and show that they are sufficiently …

endogenous impatience and consumption externalities in a neoclassical growth model. In the case of socially increasing marginal … specialization may exhibit indeterminacy. The occurrence of the indeterminacy result requires a large degree of increasing time … economy's comparative advantage and its relation to indeterminacy are examined …

. Furthermore, since local interactions imply particular forms of externalities, their presence typically suggests government action …