Indeterminacy Under Constant Returns to Scale in Multisector Economies

Jess Benhabib, Qinglai Meng () and Kazuo Nishimura
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Qinglai Meng: Oregon State University

Chapter Chapter 16 in Nonlinear Dynamics in Equilibrium Models, 2012, pp 403-412 from Springer

Abstract: Abstract Recently there has been a renewed interest in indeterminacy, or alternatively put, in the existence of a continuum of equilibria in dynamic economies that exhibit some market imperfections. One of the primary concerns of this literature has been the empirical plausibility of indeterminacy, which arises in markets with external effects or with monopolistic competition, often coupled with some degree 10 of increasing returns.

Keywords: Constant Return; Negative Real Part; Negative Root; Endogenous Growth Model; Balance Growth Path (search for similar items in EconPapers)
Date: 2012
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Journal Article: Indeterminacy under Constant Returns to Scale in Multisector Economies (2000)
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DOI: 10.1007/978-3-642-22397-6_16

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