IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-3-642-22397-6_17.html
   My bibliography  Save this book chapter

Global Externalities, Endogenous Growth and Sunspot Fluctuations

In: Nonlinear Dynamics in Equilibrium Models

Author

Listed:
  • Kazuo Nishimura

    (Kyoto University)

  • Harutaka Takahashi

    (Meiji Gakuin University)

  • Alain Venditti

    (CNRS-GREQAM and EDHEC)

Abstract

Over the last decade, a large literature has focussed on the existence of local indeterminacy, i.e. a continuum of equilibrium paths converging toward a steady state, and sunspot fluctuations in endogenous growth models. These studies provide a possible explanation of the facts that economic growth rates are volatile over time and dispersed across countries. Within infinite-horizon two-sector models, the occurrence of multiple equilibrium paths is related to the existence of market imperfections such that productive externalities.

Suggested Citation

  • Kazuo Nishimura & Harutaka Takahashi & Alain Venditti, 2012. "Global Externalities, Endogenous Growth and Sunspot Fluctuations," Springer Books, in: John Stachurski & Alain Venditti & Makoto Yano (ed.), Nonlinear Dynamics in Equilibrium Models, edition 127, chapter 0, pages 413-425, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-22397-6_17
    DOI: 10.1007/978-3-642-22397-6_17
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below 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.

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Brito, Paulo & Venditti, Alain, 2010. "Local and global indeterminacy in two-sector models of endogenous growth," Journal of Mathematical Economics, Elsevier, vol. 46(5), pages 893-911, September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-3-642-22397-6_17. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.