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Does dynamic efficiency rule out sunspot fluctuations ?

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Author Info
Jean-Pierre Drugeon () (CES - Centre d'économie de la Sorbonne - CNRS : UMR8174 - Université Panthéon-Sorbonne - Paris I)
Carine Nourry () (GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - Université de la Méditerranée - Aix-Marseille II - Université Paul Cézanne - Aix-Marseille III - Ecole des Hautes Etudes en Sciences Sociales (EHESS) - CNRS : UMR6579)
Alain Venditti () (GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - Université de la Méditerranée - Aix-Marseille II - Université Paul Cézanne - Aix-Marseille III - Ecole des Hautes Etudes en Sciences Sociales (EHESS) - CNRS : UMR6579)

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Abstract

The aim of this paper is to discuss the role of the elasticity of capital-labor substitution on the local determinacy properties of the steady state in a two-sector economywith CES technologies and sector-specific externalities

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Paper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number halshs-00410787_v1.

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Date of creation: 2006
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Handle: RePEc:hal:cesptp:halshs-00410787_v1

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Related research
Keywords: Two-sector OLG model; dynamic efficiency; local determinacy;

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This page was last updated on 2009-12-16.

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