Indeterminacy under constant returns to scale in multisector economies

Jess Benhabib, Qinglai Meng, Kazuo Nishimura

    Research output: Chapter in Book/Report/Conference proceedingChapter


    Recently there has been a renewed interest in indeterminacy, or alternatively put, in the existence of a continuum of equilibria in dynamic economies that exhibit some market imperfections. One of the primary concerns of this literature has been the empirical plausibility of indeterminacy, which arises in markets with external effects or with monopolistic competition, often coupled with some degree 10 of increasing returns.

    Original languageEnglish (US)
    Title of host publicationNonlinear Dynamics in Equilibrium Models
    Subtitle of host publicationChaos, Cycles and Indeterminacy
    PublisherSpringer Berlin Heidelberg
    Number of pages10
    ISBN (Electronic)9783642223976
    ISBN (Print)9783642223969
    StatePublished - Jan 1 2012

    ASJC Scopus subject areas

    • General Economics, Econometrics and Finance
    • General Business, Management and Accounting


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