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https://hdl.handle.net/2440/59359
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DC Field | Value | Language |
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dc.contributor.author | Sim, N. | - |
dc.date.issued | 2009 | - |
dc.identifier.citation | Singapore Economic Review, 2009; 54(2):183-196 | - |
dc.identifier.issn | 0217-5908 | - |
dc.identifier.issn | 1793-6837 | - |
dc.identifier.uri | http://hdl.handle.net/2440/59359 | - |
dc.description.abstract | This paper explains how indeterminacy in a one-sector model may arise due to externalities in the disutility of labor supply, which is termed as demand-side indeterminacy. This contrasts supply-side indeterminacy that is driven by externalities in the production function as exemplified by Benhabib and Farmer (Journal of Economic Theory, 1994). For the one-sector models considered, I find that indeterminacy arises more easily from the demand than from the supply side. In addition, demand and supply-side indeterminacy generate different cyclical patterns of wages, a feature that is useful for identifying episodes of self-fulfilling prophecies within the two types of indeterminacy. | - |
dc.description.statementofresponsibility | Nicholas C. S. Sim | - |
dc.language.iso | en | - |
dc.publisher | World Scientific Publishing Co. Pte.Ltd. | - |
dc.rights | © World Scientific Publishing Company | - |
dc.source.uri | http://proxy.library.adelaide.edu.au/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=43455272&site=ehost-live&scope=site | - |
dc.subject | Indeterminacy | - |
dc.subject | one-sector | - |
dc.subject | self-fulfilling prophecies | - |
dc.subject | business cycle. | - |
dc.title | Indeterminacy in a one-sector model revisited: demand versus supply-side indeterminacy | - |
dc.type | Journal article | - |
dc.identifier.doi | 10.1142/s0217590809003306 | - |
pubs.publication-status | Published | - |
Appears in Collections: | Aurora harvest 5 Economics publications |
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