Indeterminacy in a small open economy with endogenous labor supply

Qinglai Meng and Andrés Velasco

Economic Theory, 2003, vol. 22, issue 3, 669 pages

Abstract: We establish conditions under which indeterminacy can occur in a small open economy business cycle model with endogenous labor supply. Indeterminacy requires small externalities in technologies with social constant returns to scale, independently of the intertemporal elasticities in both consumption and labor. Copyright Springer-Verlag Berlin Heidelberg 2003

Keywords: Keywords and Phrases: Indeterminacy; Small open economy; Business cycles.; JEL Classification Numbers: E32; F12; F4. (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (33)

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DOI: 10.1007/s00199-002-0308-5

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