Indeterminacy Under Constant Returns to Scale in Multisector Economies
Indeterminacy Under Constant Returns to Scale in Multisector Economies
复制标题
多部门经济中规模报酬不变的不确定性
DOI：
10.1111/1468-0262.00173
复制
发表时间：
2000
期刊：
影响因子：
6.1
通讯作者：
K. Nishimura
中科院分区：
文献类型：
--
作者：
J. Benhabib;Qinglai Meng;K. Nishimura
本文的目的是表征多部门增长模型中不确定性的可能性，这些模型在社会层面上表现出恒定的边际规模收益，具有经验现实的小外部影响。我们的结果表明，不确定性不需要增加规模回报，大的外部效应，或接近线性效用函数。社会回报和私人回报之间的微小差异足以实现多重均衡。
The purpose of this paper is to characterize the possibility of indeterminacy in multisector growth models that exhibit constant marginal returns to scale at the social level, with empirically realistic small external effects. Our results demonstrate that indeterminacy does not require increasing returns to scale, large external effects, or close to linear utility functions. A small divergence between the social and private returns is sufficient for multiple equilibria.