We investigate externalities in higher education enrollment over the course of development in a two-sector model. Each … acquiring human capital. Both sectors exhibit productivity externalities in the size of the skill-specific labor and in the …

-separable and concave, which affects unfavorably the occurrence of local indeterminacy. …

This paper presents a general model of a competitive market with consumption externalities, and establishes the …

This paper studies infinite-horizon bargaining between a seller and multiple buyers when externalities are present. We … externalities. Since each buyer receives a positive payoff when the seller makes an agreement with some other buyer, positive … externalities induce a war of attrition between buyers. …

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

indeterminacy in two-sector economies. Recent empirical evidence, the elasticity of substitution between capital and labor is below … unity. We ?nd that this requires a higher degree of productive externalities in order to still be able to produce … indeterminate equilibria. However, indeterminacy is maintained for empirically realistic rates of substitution. …

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 investigate externalities in higher education enrollment over the course of development in a two-sector model. Each … acquiring human capital. Both sectors exhibit productivity externalities in the size of the skill-specific labor and in the …