models in the literature, we find that, under constant returns to scale in production: (i) indeterminacy always prevails in …

It has been shown that an otherwise standard one-sector real business cycle model may exhibit indeterminacy and …-generating government purchases in either of these specifications. It turns out that the previous indeterminacy results remain unchanged by …

The Paper approaches business cycles in terms of extrinsic uncertainty related, not to dynamic indeterminacy of … static indeterminacy of free entry oligopolistic equilibria within each period. We consider an OLG economy in which firms … dynamic indeterminacy, we can weaken the condition on the degree of increasing returns, which may be arbitrarily small (with a …

persistence than standard RBC models and can exhibit indeterminacy of rational expectation paths without increasing returns in …