Animal spirits, technology shocks and th
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Mark Weder
📂
Article
📅
2000
🏛
Elsevier Science
🌐
English
⚖ 192 KB
This paper presents a two-sector growth model which allows indeterminacy to occur at relatively mild degrees of increasing returns. It is shown that economies of scale need only be present in one sector of the economy, e.g. the investment good producing sector. This new feature of the model builds o