productive external effects arising from average capital and labour. We show that indeterminacy cannot arise when there are only …

factor-specificproductive external effects arising from average capital and labor. First, we show that indeterminacy cannot … indeterminacy under small externalities and plausible restrictions on the main parameters. Third, we show that the existence of …

We reexamine indeterminacy and utility-generating public spending under balanced- budget rules in a simple one …-sector growth model. The introduction of consumption tax (subsidy) as well as subsidies for savings and labor modify indeterminacy … con- ditions in the existing studies. We show that if consumption subsidies and income taxes exist, indeterminacy occurs …