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Xiao, Wei - In: Contributions in Macroeconomics 4 (2004) 1

Abstract In this paper we use a modified neoclassical business cycle model to test two competing explanations of the expansion of the 1990s. The model can have indeterminate, multiple equilibria that give rise to expectation-driven business cycles. We fit into the model series of estimated...

Persistent link: https://www.econbiz.de/10014588447

Indeterminacy, Stabilization Policy and Returns to Scale: A Re-Investigation

Sim, Nicholas C. S. - In: Topics in Macroeconomics 5 (2005) 1

separate model economies by which indeterminacy occurs for empirically plausible specification of the model parameters. In the …

Persistent link: https://www.econbiz.de/10014588455

On Impossibility of Limit Cycles in Certain Two-Dimensional Continuous-Time Growth Mode

Slobodyan, Sergey - In: Studies in Nonlinear Dynamics & Econometrics 5 (2001) 1

This article proves that periodic trajectories are generically impossible in a class of continuous-time growth models that allow a locally indeterminate steady state. Those models reducible to the two-dimensional Lotka-Volterra system of equations constitute the class considered here. Knowledge...

Persistent link: https://www.econbiz.de/10014620840

The indeterminacy of a flexible exchange rate system when financial markets are dormant

McPherson, Sandra; Suliman, Osman; Sweidan, Osama - In: Competitiveness Review: An International Business Journal 22 (2012) 1, pp. 8-17

Purpose – The purpose of this paper is to examine the extent to which a flexible exchange rate system is able to function given a least developed economy where financial markets are inactive and economic growth is low. Design/methodology/approach – A theoretical general equilibrium model is...

Persistent link: https://www.econbiz.de/10014702269

Indeterminacy and the Stability Puzzle in Non-Convex Economies

Evans, George W; McGough, Bruce - In: Topics in Macroeconomics 5 (2005) 1

sunspots exist, and under another information assumption, that they exist only for a very small part of the indeterminacy … bivariate reduced form contains parameter regions in which sunspots are stable under learning. However, for parameters … restricted to those generated by standard models of indeterminacy, we find, under one information assumption, that no stable …

Persistent link: https://www.econbiz.de/10014588457

A Herding Perspective on Global Games and Multiplicity

Costain, James S - In: The B.E. Journal of Theoretical Economics 7 (2007) 1

Recently, it has been claimed that full-information multiple equilibria in games with strategic complementarities are not robust, because generalizing to allow slightly heterogeneous information implies uniqueness. This paper argues that this "global games" uniqueness result is itself not...

Persistent link: https://www.econbiz.de/10014589094

Sunspot Rational Beliefs Structures, Equilibria and Excess Volatility

Nielsen, Carsten K - In: The B.E. Journal of Theoretical Economics 7 (2007) 1

RB in general equilibrium models. Individual rational beliefs are assumed correlated by means of sunspots which at the …

Persistent link: https://www.econbiz.de/10014589121

Capacity-Constrained Monopoly

Baylis, Kathy; Perloff, Jeffrey M - In: Journal of Industrial Organization Education 3 (2008) 1, pp. 1-11

Capacity constraints on production have major effects on a standard monopoly, a monopoly that price discriminates between two submarkets, and a monopoly that sells in two submarkets and faces a price control in only one.

Persistent link: https://www.econbiz.de/10014613578

Rural people's perception of income adequacy in China

Gustafsson, Bjorn; Yue, Ximing - In: China Agricultural Economic Review 4 (2012) 3, pp. 264-280

Purpose – The purpose of this paper is to investigate rural people's perception of income adequacy in order to understand how it is affected by income in the county where the respondent lives, age of household members, as well as number of household members. The paper also aims to find out how...

Persistent link: https://www.econbiz.de/10014689658

Marriage as a Mechanism of Internalizing Externalities: A Case of Smoking

You, Jane J. - In: Asian Journal of Law and Economics 12 (2021) 2, pp. 189-211

Abstract With the view of marriage as a legal institution to internalize externalities, I examine the effect of … two years. These results on the whole imply that marriage internalizes the negative externalities of smoking and thus …

Persistent link: https://www.econbiz.de/10014585240