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Determinacy with Capital Adjustment Costs and Sector-Specific Externalities

Herrendorf, Berthold; Valentinyi, Akos - C.E.P.R. Discussion Papers - 2001

This Paper explores the stability properties of the steady state in the standard two-sector real business cycle model with a sector-specific externality in the capital-producing sector. When the steady state is stable then equilibrium is indeterminate and stable sunspots are possible. We find...

Persistent link: https://www.econbiz.de/10005661912

Indeterminacy under input-specific externalities and implications for fiscal policy.

Seegmuller, Thomas - Maison des Sciences Économiques, Université Paris 1 … - 2006

low degrees of capital-labor substitution, we show that indeterminacy requires not only a lower bound for the elasticity … condition for indeterminacy and larger increasing returns promote sadlle-path stability when inputs are high substitutes. Using …

Persistent link: https://www.econbiz.de/10005220174

Indeterminacy with almost constant returns to scale: capital-labor substitution matters

Pintus, Patrick - In: Economic Theory 28 (2006) 3, pp. 633-649

This paper shows, in the benchmark one-sector Ramsey model, that indeterminacy and sunspots may occur when … the results are the general formulations of both preferences and technology that we consider. In particular, indeterminacy … positively sloped, indeterminacy does not necessarily require the equilibrium wage-hours locus to be upward sloping. Copyright …

Persistent link: https://www.econbiz.de/10005596695

Local Determinacy with Non-separable Utility

Pintus, Patrick-Antoine - HAL - 2009

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

Persistent link: https://www.econbiz.de/10008794072

Elasticity of intertemporal substitution in consumption in the presence of inertia : empirical evidence from a natural experiment

Kapoor, Mudit; Ravi, Shamika - In: Management science : journal of the Institute for … 63 (2017) 12, pp. 4188-4200

Persistent link: https://www.econbiz.de/10011785143

Propensity to consume in household sector in Slovakia

Vladová, Anna - In: Politická ekonomie 2005 (2005) 6, pp. 781-792

Slovakia is one of the countries with the highest and fastest propensity to consume in sector of households. In the development of propensity to consume we can distinguish the period of forced increase in consumer preferencies and the period of voluntary increase. The forced increase was a...

Persistent link: https://www.econbiz.de/10005036568

Optimal balanced growth in a general multi-sector endogenous growth model with constant returns

Takahashi, Harutaka - In: Economic Theory 37 (2008) 1, pp. 31-49

Persistent link: https://www.econbiz.de/10005596753

On the Geometry of Constant Returns

Jehle, Geoffrey A. - In: Journal of Economic Education 33 (2002) 1, pp. 53-68

Constant returns to scale, always a simplifying assumption, is often also much more: many important results depend critically on the very special properties of this class of production function. The author provides a unified set of simple proofs for most of the crucial analytical properties of...

Persistent link: https://www.econbiz.de/10005600646

Testing the fit of Cobb-Douglass production function within unrestricted least squares

Amuka, Joseph I.; Asogwa, Fredrick O.; Ugwu, Collins C.; … - In: International journal of economics and financial issues … 8 (2018) 3, pp. 142-147

Persistent link: https://www.econbiz.de/10011979038

Tax competition, elastic labor supply, and growth

Hange, Ulrich - 2008

In this paper we investigate the effects of tax competition in a simple endogenous growth model with elastic labor supply. Our analysis focuses on two issues. First, we show that all taxes, i.e. on capital, labor, and consumption, are harmful for growth. Second, we derive the optimal tax policy....

Persistent link: https://www.econbiz.de/10010264390