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Discussion Papers, SFB 373, HU Berlin >
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http://hdl.handle.net/10419/61718
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| Title: | | Indeterminacy in the small open economy Ramsey growth model  |
| Authors: | | Weder, Mark |
| Issue Date: | | 1999 |
| Series/Report no.: | | Discussion Papers, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes 1999,30 |
| Abstract: | | This paper constructs a small open economy version of the two sector Benhabib-Farmer (1996) indeterminacy model. It can be shown that sunspot equilibria arise at significantly lower magnitude of increasing returns to scale than in the original dosed economy model. Furthermore, if a mix of externalities across sectors is admitted, indeterminacy can be obtained even with decreasing aggregate returns to scale. |
| JEL: | | F4 E32 |
| Persistent Identifier of the first edition: | | urn:nbn:de:kobv:11-10056293 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Discussion Papers, SFB 373, HU Berlin
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