Indeterminacy with Non-separable Utility
AbstractBenhabib and Farmer  showed that a single sector growth model in the presence of increasing returns-to-scale may display an indeterminate equilibrium if the demand and supply curves cross with the "wrong slopes". We generalize their result to a model with preferences that are non-separable in consumption and leisure.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Theory.
Volume (Year): 93 (2000)
Issue (Month): 1 (July)
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Web page: http://www.elsevier.com/locate/inca/622869
Other versions of this item:
- C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
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