Please use this identifier to cite or link to this item:
https://hdl.handle.net/2440/75527
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DC Field | Value | Language |
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dc.contributor.author | Photphisutthiphong, N. | - |
dc.contributor.author | Weder, M. | - |
dc.date.issued | 2012 | - |
dc.identifier.citation | Macroeconomic Dynamics, 2012; 16(SUPPL. 3):411-421 | - |
dc.identifier.issn | 1365-1005 | - |
dc.identifier.issn | 1469-8056 | - |
dc.identifier.uri | http://hdl.handle.net/2440/75527 | - |
dc.description.abstract | This paper examines the effect of the elasticity of technological substitution on the existence of equilibrium indeterminacy in two-sector economies. Following recent empirical evidence, the elasticity of substitution between capital and labor is below unity and we find that this requires a higher degree of productive externalities in order to still be able to produce indeterminate equilibria. However, empirically realistic rates of substitution do not rule out indeterminacy. | - |
dc.description.statementofresponsibility | Nopphawan Photphisutthiphong and Mark Weder | - |
dc.language.iso | en | - |
dc.publisher | Cambridge Univ Press | - |
dc.rights | © Cambridge University Press 2012 | - |
dc.source.uri | http://dx.doi.org/10.1017/s1365100510000994 | - |
dc.subject | Two-Sector Models | - |
dc.subject | Indeterminacy | - |
dc.subject | CES Production Functions | - |
dc.subject | Externalities | - |
dc.title | Capital-labor substitution, sector-specific externalities, and indeterminacy | - |
dc.type | Journal article | - |
dc.identifier.doi | 10.1017/S1365100510000994 | - |
pubs.publication-status | Published | - |
Appears in Collections: | Aurora harvest 4 Economics publications |
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RA_hdl_75527.pdf Restricted Access | Restricted Access | 215.4 kB | Adobe PDF | View/Open |
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