Similar Search Results

A simple endogenous growth model of financial intermediation with multiplicity and indeterminacy

Eggoh, Jude C.; Villieu, Patrick - In: Economic Modelling 38 (2014) C, pp. 357-366

global indeterminacy. These theoretical results support the large empirical literature on the relationship between financial …

Persistent link: https://www.econbiz.de/10010753350

Consumption externality and indeterminacy under increasing returns to scale and endogenous capital depreciation

Wang, Gaowang; Zou, Heng-fu - In: Economic Modelling 38 (2014) C, pp. 282-287

externality helps to generate equilibrium indeterminacy together with production externality. Specifically, the existence of … consumption externality reduces the upper and lower bounds of production externality for local indeterminacy, and when the degree … of consumption externality increases, the upper and lower bounds of production externalities for local indeterminacy are …

Persistent link: https://www.econbiz.de/10011048932

Indeterminacy and multiple steady states with sector-specific externalities

Magris, Francesco - In: Economic Modelling 29 (2012) 6, pp. 2664-2672

. We show that in order to get indeterminacy, the presence of both aggregate and sector-specific external effects is needed … consumption. We perform a sensitivity analysis and show that indeterminacy emerges for parameter values in line with those used in …

Persistent link: https://www.econbiz.de/10010588233

Some thought experiments on the changes in labor supply in Turkey

Üngör, Murat - In: Economic Modelling 39 (2014) C, pp. 265-272

Turkey has the lowest hours worked (the product of total employment and annual hours per worker, divided by the size of the working-age population) among the OECD countries. We study the changes in hours of work following Ohanian, Raffo, and Rogerson (Journal of Monetary Economics, 2008) and...

Persistent link: https://www.econbiz.de/10011048785

Public investment, taxation, and long-run output in economies with multi-level governments

Bodman, Philip; Campbell, Harry; Le, Thanh - In: Economic Modelling 29 (2012) 5, pp. 1603-1611

This paper examines the dynamic effects of taxation and investment on the steady state output level of an economy. A simple neoclassical growth model with different tiers of government is developed. The initial focus is on governments that aim to maximise their citizens' welfare and economic...

Persistent link: https://www.econbiz.de/10010597494

On the existence and uniqueness of solution to the Lucas–Uzawa model

Chilarescu, Constantin - In: Economic Modelling 28 (2011) 1, pp. 109-117

In this paper we define the concept of admissible solution and then provide closed-form solutions for all variables of the model along the transitional dynamics path. We present numerical simulations and compare our results with those obtained through the methods developed by Boucekkine and...

Persistent link: https://www.econbiz.de/10010577097

R&D games in a Cournot duopoly with isoelastic demand functions: A comment

Luckraz, Shravan - In: Economic Modelling 28 (2011) 6, pp. 2873-2876

In a recent paper, Tramontana (Economic Modelling, 27; 350–357, 2010) investigates the stability properties of a Cournot Duopoly game when the demand function is isoelastic. In this note, we show that for some well known applications of two-stage Cournot games (D. Aspremont and Jacquemin,...

Persistent link: https://www.econbiz.de/10010577136

Hopf bifurcation in the Clarida, Gali, and Gertler model

Barnett, William A.; Eryilmaz, Unal - In: Economic Modelling 31 (2013) C, pp. 401-404

We explore bifurcation phenomena in the open-economy New Keynesian CGG Model based on Clarida et al. (2001, 2002). We find that the open economy framework can bring about more complex dynamics, along with a wider variety of qualitative behaviors and policy responses. Introducing parameters...

Persistent link: https://www.econbiz.de/10010636282

Estimating a small open economy DSGE model with indeterminacy: Evidence from China

Zheng, Tingguo; Guo, Huiming - In: Economic Modelling 31 (2013) C, pp. 642-652

Considering that monetary policy instability may cause indeterminacy of the macroeconomic equilibrium, this paper … derives the boundary condition between determinacy and indeterminacy in a small open economy DSGE model, and then uses this … model to investigate China's monetary policy and macroeconomic fluctuations under indeterminacy during the period from 1992 …

Persistent link: https://www.econbiz.de/10010636327

Economic growth and multiple equilibria: A critical note

Gaspar, J.; Vasconcelos, P.B.; Afonso, O. - In: Economic Modelling 36 (2014) C, pp. 157-160

Recent literature on economic growth points towards the possibility of the existence of multiple equilibria, under certain conditions. In this paper we use a growth model with a public health infrastructure to analyze, in detail, its local dynamics. The discussion of the existence of equilibria...

Persistent link: https://www.econbiz.de/10011048850