conditions on technologies leading to the existence of local indeterminacy for any value of the interest rate elasticity of money …

indeterminacy. First we show that the consumption good sector needs to be capital intensive at the private level and labor intensive …

show that when labor is inelastic, for any configuration of the returns to scale, local indeterminacy is obtained if there … indeterminacy arises if the investment good sector has increasing social returns, provided the consumption good is labor intensive …, we show that local indeterminacy requires a low elasticity of labor when the investment good has constant social returns …

indeterminacy of steady state equilibra. …

A challenge facing the literature of equilibrium indeterminacy and sunspot-driven business cycle fluctuations based on … increasing returns to scale in production is that the required degree of increasing returns for generating indeterminacy can be … relative wage effect can both lower the required degree of increasing returns for indeterminacy to an empirically plausible …

production externalities. It is shown that indeterminacy is considerably easier to obtain under a regime of perfect world capital … shown that the qualitative results on indeterminacy remain basically unaffected by this extension. …