A Note on Instability and Indeterminacy in Search and Matching Models
We demonstrate the possibility of indeterminacy and non-existence of equilibrium dynamics in a standard business cycle model with search and matching frictions in the labor market. Our results arise for empirically plausible parametrizations and do not rely upon a mechanism such as increasing returns.
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Paper provided by The Johns Hopkins University,Department of Economics in its series Economics Working Paper Archive with number
518.
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| Date of creation: | Nov 2004 |
| Handle: | RePEc:jhu:papers:518 |
| Contact details of provider: | Postal: 3400 North Charles Street Baltimore, MD 21218 Phone: 410-516-7601 Fax: 410-516-7600 Web page: http://www.econ.jhu.edu More information through EDIRC
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- repec:wop:calsdi:97-23 is not listed on IDEAS
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