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Journey into the Unknown? Economic Consequences of Factor Market Integration under Increasing Returns to Scale

Schäfer, Andreas; Steger, Thomas - CESifo - 2011

) indeterminacy. Hence, expectations matter for resulting equilibrium dynamics. Despite its simplicity, the model creates a rich set … fundamentals in models with indeterminacy. The model is applied to replicate two striking empirical characteristics of …

Persistent link: https://www.econbiz.de/10009645233

Private and Public Health Expenditures in an Endogenous Growth Model with Inflation Targeting

Gupta, Rangan; Vermeulen, Cobus - In: Annals of Economics and Finance 11 (2010) 1, pp. 139-153

This paper develops a monetary endogenous growth overlapping generations model characterized by endogenous longevity and an inflation targeting monetary authority, and analyzes the growth dynamics that emerges from this framework. Besides the endogenous longevity which depends on the...

Persistent link: https://www.econbiz.de/10010554858

A simple endogenous growth model of financial intermediation with multiplicity and indeterminacy

Eggoh, Jude C.; Villieu, Patrick - In: Economic Modelling 38 (2014) C, pp. 357-366

global indeterminacy. These theoretical results support the large empirical literature on the relationship between financial …

Persistent link: https://www.econbiz.de/10010753350

History, Expectations, and Public Policy: Economic Development in Eastern Germany

Schäfer, Andreas; Steger, Thomas - CESifo - 2010

aggregate level. The model features multiple equilibria as well as (local and global) indeterminacy. Expectations matter for …

Persistent link: https://www.econbiz.de/10008671695

Indeterminacy Under Constant Returns to Scale in Multisector Economies

Benhabib, J.; Meng, Q.; Nishimura, K. - C.V. Starr Center for Applied Economics, Department of … - 1999

The purpose of this paper is to characterize the possibility of indeterminacy in multisector growth models that exhibit … demonstrate that indeterminacy does not require increasing returns to scale, large external effects, or close to linear utility …

Persistent link: https://www.econbiz.de/10005264489

Indeterminacy with Externalities and Capital Utilization

Ismael, Mohanad; Magris, Francesco - Centre d'Études des Politiques Économiques (EPEE), … - 2008

In this paper, we present a dynamic general equilibrium model with two sectors: one aggregate firm produces consumption good and a second one investment good. We assume sector specific as well as aggregate ex- ternalities. Moreover, we account for variable capital utilization i.e. the...

Persistent link: https://www.econbiz.de/10010640921

Indeterminacy and Sector-Specific Externalities

Benhabib, Jess; Farmer, Roger E.A. - C.V. Starr Center for Applied Economics, Department of … - 1995

Persistent link: https://www.econbiz.de/10005611772

Monopolistic competition, indeterminacy and growth

Benhabib, Jess; Perli, Roberto; Xie, Danyang - Volkswirtschaftliche Fakultät, … - 1994

for human capital, the issue of global as opposed to local indeterminacy arises: this refers to situations when there …

Persistent link: https://www.econbiz.de/10011109934

(In)determinacy and Time-to-Build

BAMBI, Mauro; LICANDRO, Omar - Department of Economics, European University Institute - 2004

a small time-to-build delay rules out local indeterminacy. …

Persistent link: https://www.econbiz.de/10005557700

Congestible Public Goods and Indeterminacy in a Two-sector Endogenous Growth Model

Chen, Been-Lon; Lee, Shun-Fa - Institute of Economics, Academia Sinica - 2005

This paper develops a new mechanism for local indeterminacy in a constant-return, two-sector, human capital enhanced … effect. The possibility of local indeterminacy emerges because under constant returns, the congestion effect reduces the …

Persistent link: https://www.econbiz.de/10008632886