Indeterminacy and expectation-driven fluctuations with non-separable preferences
نویسندگان
چکیده
منابع مشابه
Indeterminacy with Non-separable Utility
J. Benhabib and R. E. A. Farmer (1994, J. Econ. Theory 63, 19 41) showed that a single sector growth model in the presence of increasing returns-to-scale may display an indeterminate equilibrium if the demand and supply curves cross with the ``wrong slopes.'' We generalize their result to a model with preferences that are nonseparable in consumption and leisure. We provide a simple analog of th...
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ژورنال
عنوان ژورنال: Mathematical Social Sciences
سال: 2010
ISSN: 0165-4896
DOI: 10.1016/j.mathsocsci.2010.04.001