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Increasing returns and heterogeneity in a spatial economy

โœ Scribed by Pascal Mossay


Book ID
114139224
Publisher
Elsevier Science
Year
2003
Tongue
English
Weight
184 KB
Volume
33
Category
Article
ISSN
0166-0462

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โœ Marta Aloi; Huw D. Dixon; Teresa Lloyd-Braga ๐Ÿ“‚ Article ๐Ÿ“… 2000 ๐Ÿ› Elsevier Science ๐ŸŒ English โš– 272 KB

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,