public spending subject to congestion. As was shown earlier by Wen 1998, variable capacity utilization leads to indeterminacy … parameters. More progressive tax schedule increases the area of indeterminacy at the expense of the absolute instablity region …

issue is of importance for assessing the possibility of equilibrium indeterminacy and sunspot-driven business cycles. The … equilibrium perspective. I argue that the question of indeterminacy is a property of a system and cannot be conclusively answered … indeterminacy. When abstracting from variable capital utilization, estimates of the scale parameter increase, but again …

indeterminacy of equilibria and instability under adaptive learning. However, some other forms of CIR policy perform better. We also …

parameters of a simple forward-looking monetary rule. We solve the model under indeterminacy via the procedure introduced by … under indeterminacy is a mirror image of what it is under determinacy: both inflation persistence and the volatility of its … reduced-form innovations, for example, are increasing in the coefficient on inflation under indeterminacy, decreasing under …

to choose the optimal rule within a Taylor-type class they may be led to rules that generate indeterminacy and …