Indeterminacy under constant returns to scale in multisector economies

Jess Benhabib, Qinglai Meng, Kazuo Nishimura

    Research output: Chapter in Book/Report/Conference proceedingChapter

    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 languageEnglish (US)
    Title of host publicationNonlinear Dynamics in Equilibrium Models: Chaos, Cycles and Indeterminacy
    PublisherSpringer Berlin Heidelberg
    Pages403-412
    Number of pages10
    ISBN (Electronic)9783642223976
    ISBN (Print)9783642223969
    DOIs
    StatePublished - Jan 1 2012

    Fingerprint

    Returns to scale
    Indeterminacy
    External effects
    Market imperfections
    Monopolistic competition
    Increasing returns

    ASJC Scopus subject areas

    • Economics, Econometrics and Finance(all)
    • Business, Management and Accounting(all)

    Cite this

    Benhabib, J., Meng, Q., & Nishimura, K. (2012). Indeterminacy under constant returns to scale in multisector economies. In Nonlinear Dynamics in Equilibrium Models: Chaos, Cycles and Indeterminacy (pp. 403-412). Springer Berlin Heidelberg. https://doi.org/10.1007/978-3-642-22397-6_16

    Indeterminacy under constant returns to scale in multisector economies. / Benhabib, Jess; Meng, Qinglai; Nishimura, Kazuo.

    Nonlinear Dynamics in Equilibrium Models: Chaos, Cycles and Indeterminacy. Springer Berlin Heidelberg, 2012. p. 403-412.

    Research output: Chapter in Book/Report/Conference proceedingChapter

    Benhabib, J, Meng, Q & Nishimura, K 2012, Indeterminacy under constant returns to scale in multisector economies. in Nonlinear Dynamics in Equilibrium Models: Chaos, Cycles and Indeterminacy. Springer Berlin Heidelberg, pp. 403-412. https://doi.org/10.1007/978-3-642-22397-6_16
    Benhabib J, Meng Q, Nishimura K. Indeterminacy under constant returns to scale in multisector economies. In Nonlinear Dynamics in Equilibrium Models: Chaos, Cycles and Indeterminacy. Springer Berlin Heidelberg. 2012. p. 403-412 https://doi.org/10.1007/978-3-642-22397-6_16
    Benhabib, Jess ; Meng, Qinglai ; Nishimura, Kazuo. / Indeterminacy under constant returns to scale in multisector economies. Nonlinear Dynamics in Equilibrium Models: Chaos, Cycles and Indeterminacy. Springer Berlin Heidelberg, 2012. pp. 403-412
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