We introduce equilibrium indeterminacy into a two-country incomplete asset model with imperfect competition and analyze … indeterminacy model can also resolve the Backus-Smith puzzle without requiring a low value of the trade elasticity. …

function of various structural parameters. We show that local indeterminacy occurs through flip and Hopf bifurcations for a …

, we also examine a model with indeterminacy and self-fulfilling expectations (SFE), and one with credit shocks. Historical …

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 … by single equation methods. Moreover, estimates of returns to scale will be biased when the possibility of indeterminacy …

technologies for both sectors identical, for expositional simplicity, we show that indeterminacy can easily occur for parameter …

indeterminacy, hence making fluctuations driven by self-fulfilling expectations easier to occur. This is demonstrated in a standard …