Indeterminancy in a Dynamic Heckscher-Ohlin Model

Kazuo Nishimura and Koji Shimomura

No 102, Discussion Paper Series from Research Institute for Economics & Business Administration, Kobe University

Abstract: We show that even under socially constant returns to scale indeterminacy, i.e., a continuum of dynamic general equilibrium paths converging to a common steady state, can arise in a dynamic Heckscher-Ohlin model with production externality and endogenous time preference in which production is incompletely specialized.

Keywords: Mathematical analysis; International trade; International economy (search for similar items in EconPapers)
JEL-codes: C61 F43 (search for similar items in EconPapers)
Pages: 14 pages
Date: 1999-05
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Persistent link: https://EconPapers.repec.org/RePEc:kob:dpaper:102

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