Indeterminacy and Cycles in Two-Sector Discrete-Time Models
AbstractWe consider a discrete-time two-sector Cobb-Douglas economy with positive sector specific external effects. We show that indetermincay of steady states and cycles can easily arise with constant or decreasing social returns to scale, and very small market imperfections. This is in sharp contrast with most of the contribution in the literature in which increasing social returns are required to generate indeterminacy.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by Universite Aix-Marseille III in its series G.R.E.Q.A.M. with number 99a58.
Length: 29 pages
Date of creation: 1999
Date of revision:
Contact details of provider:
Postal: G.R.E.Q.A.M., (GROUPE DE RECHERCHE EN ECONOMIE QUANTITATIVE D'AIX MARSEILLE), CENTRE DE VIEILLE CHARITE, 2 RUE DE LA CHARITE, 13002 MARSEILLE.
Web page: http://www.greqam.fr/
More information through EDIRC
MATHEMATICAL ANALYSIS ; BUSINESS CYCLES ; ECONOMIC GROWTH;
Other versions of this item:
- Kazuo Nishimura & Jess Benhabib & Alain Venditti, 2002. "Indeterminacy and cycles in two-sector discrete-time model," Economic Theory, Springer, vol. 20(2), pages 217-235.
- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Chen, Been-Lon & Lee, Shun-Fa, 2008.
"General fund financing, earmarking, economic stabilization and welfare,"
27666, University Library of Munich, Germany.
- Been-Lon Chen & Shun-Fa Lee, 2009. "General Fund Financing, Earmarking, Economic Stabilization, and Welfare," Public Finance Review, , vol. 37(5), pages 507-538, September.
- Herrendorf, Berthold & Valentinyi, Akos, 2006.
"On the stability of the two-sector neoclassical growth model with externalities,"
Journal of Economic Dynamics and Control,
Elsevier, vol. 30(8), pages 1339-1361, August.
- Herrendorf, Berthold & Valentinyi, Akos, 2002. "On the Stability of the Two-Sector Neoclassical Growth Model with Externalities," CEPR Discussion Papers 3435, C.E.P.R. Discussion Papers.
- Berthold Herrendorf & Akos Valentinyi, . "On the Stability of the Two-Sector Neoclassical Growth Model with Externalities," Working Papers 2167721, Department of Economics, W. P. Carey School of Business, Arizona State University.
- Jean-Pierre Drugeon, 2013. "On the emergence of competitive equilibrium growth cycles," Economic Theory, Springer, vol. 52(1), pages 397-427, January.
- Goenka, A. & Poulsen, O., 2002.
"Indeterminacy and Labor Augmenting Externalities,"
02-9, University of Aarhus, Aarhus School of Business, Department of Economics.
- Thomas SEEGMULLER, 2004.
"Endogenous Cycles in aTwo-sector Overlapping Generations Model under Intertemporal Substitutability,"
Annales d'Economie et de Statistique,
ENSAE, issue 74, pages 131-146.
- Thomas Seegmuller, 2004. "Endogenous Cycles in a Two-sector Overlapping Generations Model under Intertemporal Substitutability," UniversitÃ© Paris1 PanthÃ©on-Sorbonne (Post-Print and Working Papers) halshs-00194160, HAL.
- Stefano Bosi & Francesco Magris & Alain Venditti, 2007. "Sunspot Fluctuations in Two-sector Economies with Heterogeneous Agents," Economic Theory, Springer, vol. 33(2), pages 311-331, November.
- Drugeon, Jean-Pierre, 2008.
"On intersectoral asymmetries in factors substitutability, "Equilibrium Production Possibility Frontiers" and the emergence of indeterminacies,"
Journal of Mathematical Economics,
Elsevier, vol. 44(3-4), pages 277-315, February.
- Nishimura, Kazuo & Venditti, Alain, 2007. "Indeterminacy in discrete-time infinite-horizon models with non-linear utility and endogenous labor," Journal of Mathematical Economics, Elsevier, vol. 43(3-4), pages 446-476, April.
- Nishimura, Kazuo & Venditti, Alain, 2004. "Indeterminacy And The Role Of Factor Substitutability," Macroeconomic Dynamics, Cambridge University Press, vol. 8(04), pages 436-465, September.
- Nishimura, Kazuo & Venditti, Alain, 2002. "Intersectoral Externalities and Indeterminacy," Journal of Economic Theory, Elsevier, vol. 105(1), pages 140-157, July.
- Mohanad Ismael & Francesco Magris, 2008. "Indeterminacy with Externalities and Capital Utilization," Documents de recherche 08-14, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
- Kazuo Mino & Kazuo Nishimura & Koji Shimomura & Ping Wang, 2005.
"Equilibrium Dynamics in Discrete-Time Endogenous Growth Models with Social Constant Returns,"
Discussion Papers in Economics and Business
05-34, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).
- Kazuo Mino & Kazuo Nishimura & Koji Shimomura & Ping Wang, 2008. "Equilibrium dynamics in discrete-time endogenous growth models with social constant returns," Economic Theory, Springer, vol. 34(1), pages 1-23, January.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Thomas Krichel).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.