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Local Home Environment Externality is a Source of Indeterminacy

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  • Shiro Kuwahara
  • Katsunori Yamada

Abstract

We address the local home environment externality conceptualized by Galor and Tsiddon (1997a; 1997b) in the two sector growth model of Lucas (1988). We show that this version of externality related to human capital accumulation process can be a source of indeterminacy.

Suggested Citation

  • Shiro Kuwahara & Katsunori Yamada, 2008. "Local Home Environment Externality is a Source of Indeterminacy," ISER Discussion Paper 0722r, Institute of Social and Economic Research, The University of Osaka, revised Jul 2009.
    • Handle: RePEc:dpr:wpaper:0722r
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    File URL: https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2009/DP0722R.pdf
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    References listed on IDEAS

    as
    1. Chen, Been-Lon & Hsu, Mei, 2007. "Admiration is a source of indeterminacy," Economics Letters, Elsevier, vol. 95(1), pages 96-103, April.
    2. Benhabib Jess & Perli Roberto, 1994. "Uniqueness and Indeterminacy: On the Dynamics of Endogenous Growth," Journal of Economic Theory, Elsevier, vol. 63(1), pages 113-142, June.
    3. Galor, Oded & Tsiddon, Daniel, 1997. "The Distribution of Human Capital and Economic Growth," Journal of Economic Growth, Springer, vol. 2(1), pages 93-124, March.
    4. Casey B. Mulligan & Xavier Sala-i-Martin, 1993. "Transitional Dynamics in Two-Sector Models of Endogenous Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(3), pages 739-773.
    5. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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