In this paper we study the e!ects of opening an economy, with increasing returns in the production of nontraded goods, on the existence of multiple Pareto-ranked stationary equilibria, local indeterminacy and bifurcations. We consider a standard overlapping generation model of a small open economy,
β¦ LIBER β¦
Endogenous fluctuations in unionized economies with productive externalities
β Scribed by Rui Coimbra; Teresa Lloyd-Braga; Leonor Modesto
- Publisher
- Springer
- Year
- 2005
- Tongue
- English
- Weight
- 198 KB
- Volume
- 26
- Category
- Article
- ISSN
- 0938-2259
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