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Indeterminacy and increasing returns

Webbetween private and social returns is necessary for indeterminacy, this in no way requires decreasing marginal costs or increasing marginal returns in production. For reasons also given at the end of Sect.13.2, indeterminacy can arise in a constant returns two-sector economy only if the utility of consumption is close to linear. Web1 feb. 2014 · Specifically, the existence of consumption externality reduces the upper and lower bounds of production externality for local indeterminacy, and when the degree of …

Indeterminacy and Sunspots with Constant Returns SpringerLink

Web22 aug. 2012 · Finally, our main conclusion shows that local indeterminacy requires a low elasticity of labor when the investment good has constant social returns, but requires … Web22 aug. 2012 · Second, we prove that when labor is infinitely elastic, saddlepoint stability is obtained if the investment good sector has constant social returns, whereas local indeterminacy arises if the investment good sector has increasing social returns and the elasticity of intertemporal substitution in consumption admits intermediate values. sneakerhead background https://artisandayspa.com

Indeterminacy and increasing returns — NYU Scholars

Web26 feb. 2024 · This paper systematically examines the interrelations between equilibrium indeterminacy, endogenous entry and exit of intermediate input firms, and increasing … WebTools. In economics, the term sunspots (or sometimes "a sunspot") refers to an extrinsic random variable, that is, a random variable that does not affect economic fundamentals (such as endowments, preferences, or technology ). Sunspots can also refer to the related concept of extrinsic uncertainty, that is, economic uncertainty that does not ... Web26 sep. 2002 · FISCAL POLICY, INCREASING RETURNS, AND ENDOGENOUS FLUCTUATIONS - Volume 6 Issue 5. Due to planned system work, ... A NOTE ON INDETERMINACY AND INVESTMENT ADJUSTMENT COSTS IN AN ENDOGENOUSLY GROWING SMALL OPEN ECONOMY. Macroeconomic Dynamics, Vol. 16, Issue. S3, p. … road to buying a home

INCREASING RETURNS AND THE DESIGN OF INTEREST RATE …

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Indeterminacy and increasing returns

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Web17 sep. 2008 · We study the effects of government tariff policy in a one-sector small open economy RBC model with a productive externality that generates social increasing returns to scale. Various forms of ... Web"Indeterminacy and Increasing Returns," Papers 165, Cambridge - Risk, Information & Quantity Signals. Jess Benhabib & Roger E.A. Farmer, 1992. " Indeterminacy and …

Indeterminacy and increasing returns

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WebWith very mild increasing returns supported by empirical research, the conventional wisdom regarding the design of interest rate rules can be overturned. In particular, the “Taylor … WebIndeterminacy and Increasing Returns. Indeterminacy and Increasing Returns. Jess Benhabib. 1994, Journal of Economic Theory. See Full PDF Download PDF.

Web1 mei 1991 · This paper asks whether adjustment processes over real time help to “select” the long-run outcome in a model of industrialization, where multiple stationary states …

Web1 jul. 1998 · The current paper demonstrates that decreasing returns in the variety-level production technology, which leads to increasing marginal costs, similarly amplify business cycles. Product scope expansions reduce marginal costs and firms have an incentive to produce multiple products even if the variety effects are entirely absent. Webreturns-to-scale in the matching function. However, it is well-known that indeterminacy has been often framed in the context of increasing returns (cf. Benhabib and Farmer 1994). In confirmation of this, there is a work by Giammarioli (2003) that sets forth a dynamic search model developed in continuous time in which a representative agent

Web1 feb. 2014 · It is shown that the existence of consumption externality reduces the upper and lower bounds of production externality for local indeterminacy; and when the degree of …

WebINCREASING RETURNS AND THE DESIGN OF INTEREST RATE RULES WEI XIAO State University of New York at Binghamton We introduce increasing returns to scale … sneaker head shopWebIndeterminacy and Increasing Returns My bibliography Save this paper Indeterminacy and Increasing Returns Author & abstract Download & other version 19 References 580 Citations Most related Related works & more Corrections Author Listed: Jess Benhabib (NYU) Roger E.A. Farmer (UCLA) Registered: Jess Benhabib Roger E. A. Farmer Abstract sneakerhead outfitsWeb1 jan. 2002 · It is now widely recognized that to generate indeterminacy, standard one-sector models require relatively large increasing returns to scale and externalities (e.g., Benhabib and Farmer, 1994; Farmer and Guo, 1994), while multisector models are capable of generating indeterminacy under mild increasing returns or even under constant … sneakerhead pile of shoesWebWe investigate properties of the one-sector growth model with increasing returns under two organizational structures capable of reconciling the existence of aggregate increasing … sneakerheads castWeb1 feb. 1991 · Note however that in their paper the necessary and sufficient condition for indeterminacy is related to the slopes of the labor supply and labor demand schedules, as in Benhabib and Farmer (1994 ... road to boxingWebIndeterminacy and Increasing Returns Author & abstract Download & other version 19 References 578 Citations Most related Related works & more Corrections Author Listed: … sneaker head signWebEquilibrium Indeterminacy, Endogenous Entry and Exit, and Increasing Returns to Specialization Shu-Hua Cheny National Taipei University Jang-Ting Guoz University of … sneakerheads be like ah he got the velcro