Local Home Environment Externality is a Source of Indeterminacy

Shiro Kuwahara and Katsunori Yamada

ISER Discussion Paper from Institute of Social and Economic Research, The University of Osaka

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.

Date: 2008-11, Revised 2009-07
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Persistent link: https://EconPapers.repec.org/RePEc:dpr:wpaper:0722r

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