Indeterminacy with capital utilization and sector-specific externalities

被引：12
|
作者：
Guo, JT
Harrison, SG
机构：
[1] Univ Calif Riverside, Dept Econ, Riverside, CA 92521 USA
[2] Columbia Univ Barnard Coll, Dept Econ, New York, NY 10027 USA
来源：
ECONOMICS LETTERS | 2001年 / 72卷 / 03期
关键词：
indeterminacy; capital utilization; sector-specific externalities;
D O I：
10.1016/S0165-1765(01)00437-2
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We show that the minimum level of increasing returns-to-scale needed for indeterminacy in a two-sector real business cycle model with variable capital utilization and sector-specific externalities is extremely small. Moreover, this value is lower than that required in several of our model's predecessors, and is quite easily within the range of empirical plausibility. (C) 2001 Elsevier Science B.V. All rights reserved.
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页码：355 / 360
页数：6
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