Indeterminacy in a model with aggregate and sector-specific externalities

We present a two sector dynamic general equilibrium model with both sector-specific and aggregate externalities. We find that including the aggregate effects allows for a trade-off between the sizes of the two types of externalities needed for indeterminacy.

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Published in:Economics letters 2000-11, Vol.69 (2), p.173-179
Main Authors: Harrison, Sharon, Weder, Mark
Format: Article
Language:English
Subjects:
Applied general equilibrium models
Economic activity
Externalities
Indeterminacy
Production
Production Externalities
Returns to scale
Sunspots
Trade-off
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cites cdi_FETCH-LOGICAL-c495t-472b0130dd341006baf13050a9faa294f828834f7562fcc77b6af5edb594727c3
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creator Harrison, Sharon
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description We present a two sector dynamic general equilibrium model with both sector-specific and aggregate externalities. We find that including the aggregate effects allows for a trade-off between the sizes of the two types of externalities needed for indeterminacy.
doi_str_mv 10.1016/S0165-1765(00)00294-9
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1873-7374
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source International Bibliography of the Social Sciences (IBSS); ScienceDirect Journals
subjects Applied general equilibrium models
Economic activity
Externalities
Indeterminacy
Production
Production Externalities
Returns to scale
Sunspots
Trade-off
title Indeterminacy in a model with aggregate and sector-specific externalities
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