related models in the literature, we find that under constant returns to scale in production: (i) indeterminacy always …

fiscal policy rule, steady state indeterminacy may arise as a result of endogenous labor income tax rates. In this paper, it … ranges of indeterminacy shrink, thus reducing the possibility of aggregate instability. From a policy perspective, the …

. We find that indeterminacy emerges for empirically plausible values of the parameters, compatible with a downward …-sloping marginal productivity of labour curve. Moreover, we show that indeterminacy and Hopf bifurcations are possible with an …

generation EBC1 models to second generation EBC2 models. I argue that EBC1 models, which display dynamic indeterminacy, are part … steady-state indeterminacy, are a more radical departure from the classical Real Business Cycle model; they represent a …

) income and consumption taxation, on the emergence of indeterminacy. We find that what is relevant for indeterminacy is the … and its variability under which indeterminacy occurs. Moreover, in contrast to previous results, we find that consumption … taxes can lead to local indeterminacy when asset markets are segmented. …

persistence than standard RBC models and can exhibit indeterminacy of rational expectation paths without increasing returns in …

of equilibrium indeterminacy, liberalization of capital movements is likely to be accompanied by persistent fluctuations …

The Paper approaches business cycles in terms of extrinsic uncertainty related, not to dynamic indeterminacy of … static indeterminacy of free entry oligopolistic equilibria within each period. We consider an OLG economy in which firms … dynamic indeterminacy, we can weaken the condition on the degree of increasing returns, which may be arbitrarily small (with a …