Indeterminacy under constant returns to scale in multisector economies

Jess Benhabib; Qinglai Meng; Kazuo Nishimura

doi:10.1007/978-3-642-22397-6_16

Indeterminacy under constant returns to scale in multisector economies

Jess Benhabib, Qinglai Meng, Kazuo Nishimura

Research output: Chapter in Book/Report/Conference proceeding › Chapter

Abstract

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 language	English (US)
Title of host publication	Nonlinear Dynamics in Equilibrium Models
Subtitle of host publication	Chaos, Cycles and Indeterminacy
Publisher	Springer Berlin Heidelberg
Pages	403-412
Number of pages	10
ISBN (Electronic)	9783642223976
ISBN (Print)	9783642223969
DOIs	https://doi.org/10.1007/978-3-642-22397-6_16
State	Published - Jan 1 2012

ASJC Scopus subject areas

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

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10.1007/978-3-642-22397-6_16

Cite this

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Indeterminacy under constant returns to scale in multisector economies

Abstract

ASJC Scopus subject areas

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