Search Results - subject:"multiple equilibria."

More on the dynamics in the endogenous growth model with human capital

Alonso-Carrera, Jaime - In: Investigaciones Economicas 25 (2001) 3, pp. 561-583

This paper shows that multiple and globally indeterminate long-run growth rates can easily arise in the two-sector growth model introduced by Lucas (1988). This result is generated by the existence of diminishing returns to time at the private level in human capital accumulation and the...

Persistent link: https://www.econbiz.de/10005688060

A numerically computed DNS-curve in a two state capital accumulation model.

Haunschmied, J.L., Kort, P.M., Hartl, R.F., Feichtinger, G. - Society for Computational Economics - SCE - 2001

In this paper we study a capital accumulation model in an optimal control theoretic framework, where the capital stock and the investment rate are modeled as state variables and the change in the investment rate as control. Adjustment costs are introduced for both investment rate and the change...

Persistent link: https://www.econbiz.de/10005706740

History Dependence and Global Dynamics in Models with Multiple Equilibria

Deissenberg, Christophe; Feichtinger, Gustav; Semmler, Willi - Society for Computational Economics - SCE - 2001

existence of multiple equilibria is associated with market imperfections, expectational phenomena, and the like. Less known is …A wealth of literature, reviewed in the first section of this paper, is concerned with the occurence of multiple … equilibria in economic optimization models and with the resulting history dependence of optimal solutions. Typically, the …

Persistent link: https://www.econbiz.de/10005706751

For Whom is MAI? A Theoretical Perspective on Multilateral Agreements on Investment

Turrini, Alessandro Antonio; Urban, Dieter M - C.E.P.R. Discussion Papers - 2001

multiple equilibria: the three types of equilibria may coexist. So, the implementation of MAI may depend not only on structural …

Persistent link: https://www.econbiz.de/10005124450

The International Lender of Last Resort: How Large is Large Enough?

Jeanne, Olivier; Wyplosz, Charles - C.E.P.R. Discussion Papers - 2001

This Paper considers how an international lender of last resort can prevent self-fulfilling banking and currency crises in emerging economies. We compare two different arrangements: one in which the international lender of last resort injects international liquidity into financial markets, and...

Persistent link: https://www.econbiz.de/10005136622

Hamilton-Jacobi-Bellman equation with multiple equilibria

Sieveking, Malte - Society for Computational Economics - SCE - 2001

The paper presents a correctnes proof as well as an implementation in maple of an algorithm to compute the value function of infinite horizon optimal control problems with a single state variable. It proceeds as follows: step1:compute candidates for equilibria(from the HJB); step2:for each...

Persistent link: https://www.econbiz.de/10005345560

Chaotic Interest Rate Rules

Benhabib, Jess; Schmitt-Grohe, Stephanie; Uribe, Martin - Society for Computational Economics - SCE - 2001

, that is it uses a Taylor Rule, the zero lower bound on interest rates may result in multiple equilibria and a liquidity … to the US economy. While local uniqueness of all steady states may be achieved, bounded chaotic multiple equilibria in …

Persistent link: https://www.econbiz.de/10005345604

Alternative Approaches to Evaluate Exchange Rate Credibility: A Selective Survey of the Literature and Some Policy Implications for the European Monetary

Tronzano, Tronzano , Marco - In: Economia Internazionale / International Economics 54 (2001) 1, pp. 57-88

This paper provides a selective survey of some recent literature assessing exchange rate credibility through bayesian or nonhinear econometrjc frameworks. The empirical evidence from this literature suggests two main conclusions: one in retrospect, concerning the past experience of France in the...

Persistent link: https://www.econbiz.de/10008459613

Rich nations, poor nations : how much can multiple equilibria explain?

Graham, Bryan S.; Temple, Jonathan - 2001

Persistent link: https://www.econbiz.de/10001653348

Rich nations, poor nations : how much can multiple equilibria explain?

Graham, Bryan S. - 2001

Persistent link: https://www.econbiz.de/10013423643