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Local and global indeterminacy in two-sector models of endogenous growth
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Orientador(es)
Resumo(s)
In this paper we consider a two-sector endogenous growth model where the productions of the final good and human capital require economy-wide external effects. Assuming constant returns to scale at the private and social levels, we show that local and global indeterminacy of equilibrium paths are compatible with any values for the elasticity of intertemporal substitution in consumption and any sign for the capital intensity difference across the two sectors.
Descrição
Palavras-chave
Two-Sector Model Endogenous Growth Economy-Wide Externalities Local and Global Indeterminacy
Contexto Educativo
Citação
Brito, Paulo and Alain Venditti .(2009). “Local and global indeterminacy in two-sector models of endogenous growth”, GREQAM - Document de Travail n° 2009-15. (Search PDF in 2024).
Editora
GREQAM