2024 Indeterminacy and increasing returns

Indeterminacy and increasing returns

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Web1 jan. 2012 · 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... Web1 feb. 2000 · This paper examines the stability of a small open economy under alternative income taxation rules. Using a one-sector real business cycle model with external increasing returns, we show that if the income tax schedule is linear, the small open economy will not generate equilibrium indeterminacy, but it exhibits a diverging …

Fiscal Stimulus and Endogenous Firm Entry in a Monopolistic …

Web1 jan. 2002 · It is now widely recognized that to generate indeterminacy, standard one-sector models require relatively large increasing returns to scale and externalities (e.g., Benhabib and Farmer, 1994; Farmer and Guo, 1994), while multisector models are capable of generating indeterminacy under mild increasing returns or even under constant … Web1 feb. 2014 · It is shown that the existence of consumption externality reduces the upper and lower bounds of production externality for local indeterminacy; and when the degree of … padre di nausicaa

Equilibrium Indeterminacy, Endogenous Entry and Exit, and …

Web22 aug. 2012 · Finally, our main conclusion shows that local indeterminacy requires a low elasticity of labor when the investment good has constant social returns, but requires … WebIndeterminacy and Increasing Returns Author & abstract Download & other version 19 References 578 Citations Most related Related works & more Corrections Author Listed: … WebFor example, Basu and Fernald (1994, 1997) conclude that the returns to scale is between 1.03 and 1.09. Laitner and Stolyarov (2004) use stock market data to estimate the returns to scale and obtain values between 1.09 and 1.11. In our model, the minimum level of increasing returns to generate indeterminacy is as low as 1.06. インターン期間平均

Chapter 13 Indeterminacy and Sunspots with Constant Returns

Indeterminacy and Increasing Returns - Research Papers in …

Web1 feb. 1991 · The most important assumption is increasing returns to scale, and monopolistic competition makes increasing returns consistent with each … Web1 mei 1991 · This paper asks whether adjustment processes over real time help to “select” the long-run outcome in a model of industrialization, where multiple stationary states … padre di narutoWeb1 feb. 2014 · Specifically, the existence of consumption externality reduces the upper and lower bounds of production externality for local indeterminacy, and when the degree of … インターン決め方

"WebIndeterminacy and Increasing Returns. Indeterminacy and Increasing Returns. Jess Benhabib. 1994, Journal of Economic Theory. See Full PDF Download PDF. " - Indeterminacy and increasing returns

Indeterminacy and increasing returns

(PDF) Indeterminacy under constant returns to scale in …

Web1 aug. 2005 · Increasing returns to scale arises due to production externalities. 4 Even though the individual-level private technology features constant returns to scale, Y i = ... Indeterminacy and increasing returns. Journal of Economic Theory, 63 (1994), pp. 19-41. View PDF View article Google Scholar. Benhabib and Farmer, 1996. WebWe investigate properties of the one-sector growth model with increasing returns under two organizational structures capable of reconciling the existence of aggregate increasing …

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Web13 feb. 2006 · This paper examines the long-run effects of capital income taxes, labor income taxes, and expenditure taxes in an R&D-based model of endogenous growth with endogenous labor supply. The main contribution of this paper is to investigate how tax effects on long-run growth are influenced by the emergence of indeterminate equilibria. … Web1 jun. 1994 · Indeterminacy and Increasing Returns. We investigate properties of the one-sector growth model with increasing returns under two organizational structures …

WebDive into the research topics of 'Increasing Returns, Industrialization, and Indeterminacy of Equilibrium'. Together they form a unique fingerprint. Industrialization Social Sciences. … Webbetween private and social returns is necessary for indeterminacy, this in no way requires decreasing marginal costs or increasing marginal returns in production. For reasons also given at the end of Sect.13.2, indeterminacy can arise in a constant returns two-sector economy only if the utility of consumption is close to linear.

WebINCREASING RETURNS, INDUSTRIALIZATION, AND INDETERMINACY OF EQUILIBRIUM* This paper asks whether adjustment processes over real time help to … Web26 sep. 2002 · FISCAL POLICY, INCREASING RETURNS, AND ENDOGENOUS FLUCTUATIONS - Volume 6 Issue 5. Due to planned system work, ... A NOTE ON INDETERMINACY AND INVESTMENT ADJUSTMENT COSTS IN AN ENDOGENOUSLY GROWING SMALL OPEN ECONOMY. Macroeconomic Dynamics, Vol. 16, Issue. S3, p. …

WebEconomics had long known about increasing returns but didn't know how to deal with them. Alfred Marshall speculated in 1890 that if N firms competed and each had increasing returns, the market would go to “whatever firm first gets a good start.” But there was an indeterminacy: in principle any of the N firms could win.

Web"Indeterminacy and Increasing Returns," UCLA Economics Working Papers 646, UCLA Department of Economics. Benhabib, Jess & Farmer, Roger E.A., 1991. " … インターン申し込み 24卒Web"Indeterminacy and Increasing Returns," Papers 165, Cambridge - Risk, Information & Quantity Signals. Jess Benhabib & Roger E.A. Farmer, 1992. " Indeterminacy and … インターン申し込みギリギリWebreturns-to-scale in the matching function. However, it is well-known that indeterminacy has been often framed in the context of increasing returns (cf. Benhabib and Farmer 1994). In conﬁrmation of this, there is a work by Giammarioli (2003) that sets forth a dynamic search model developed in continuous time in which a representative agent padre di nelson mandelaWeb1 jul. 1998 · The current paper demonstrates that decreasing returns in the variety-level production technology, which leads to increasing marginal costs, similarly amplify business cycles. Product scope expansions reduce marginal costs and firms have an incentive to produce multiple products even if the variety effects are entirely absent. padre di neroneWeb17 sep. 2008 · We study the effects of government tariff policy in a one-sector small open economy RBC model with a productive externality that generates social increasing returns to scale. Various forms of ... インターン申し込みサイトWebIndeterminacy and Increasing Returns My bibliography Save this paper Indeterminacy and Increasing Returns Author & abstract Download & other version 19 References 580 Citations Most related Related works & more Corrections Author Listed: Jess Benhabib (NYU) Roger E.A. Farmer (UCLA) Registered: Jess Benhabib Roger E. A. Farmer Abstract padre di picassoWebreturns-to-scale in the matching function. However, it is well-known that indeterminacy has been often framed in the context of increasing returns (cf. Benhabib and Farmer 1994). … padre di orfeo