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,
โฆ LIBER โฆ
Multiple Steady States and Endogenous Fluctuations with Increasing Returns to Scale in Production
โ Scribed by Guido Cazzavillan; Teresa Lloyd-Braga; Patrick A Pintus
- Book ID
- 112257771
- Publisher
- Elsevier Science
- Year
- 1998
- Tongue
- English
- Weight
- 741 KB
- Volume
- 80
- Category
- Article
- ISSN
- 0022-0531
No coin nor oath required. For personal study only.
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