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

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

) 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 …

) 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 …

. -- increasing returns to scale ; capital mobility ; migration ; multiple equilibria ; indeterminacy ; history vs. expectations … aggregate level. The model features multiple equilibria as well as (local and global) indeterminacy. Expectations matter for …

) 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 …

) 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 …

) 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 … macroeconomic development in East Germany since 1991. -- increasing returns to scale ; capital mobility ; migration ; multiple …

) 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 … macroeconomic development in East Germany since 1991. -- increasing returns to scale ; capital mobility ; migration ; multiple …

) 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 …