Indeterminacy and Sunspots with Constant Returns
Indeterminacy and Sunspots with Constant Returns
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不确定性和具有恒定回报的太阳黑子
DOI：
10.1007/978-3-642-22397-6_13
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发表时间：
1998
影响因子：
1.6
通讯作者：
K. Nishimura
中科院分区：
文献类型：
--
作者：
J. Benhabib;K. Nishimura
最近，人们对不确定性和太阳黑子的可能性重新产生了兴趣，或者说，在具有一些市场缺陷的动态经济体中，存在一个均衡的连续体。这一领域的大部分研究都关注具有外部效应的市场或具有垄断竞争的市场中不确定性的经验合理性，这些市场表现出一定程度的收益递增。虽然关于不确定性的早期结果依赖于相对较大的递增收益和较高的加价，但最近Benhabib和Farmer(1996a)表明，不确定性也可能发生在具有较小的特定于部门的外部效应和非常温和的递增收益的两部门模型中。
Recently there has been a renewed interest in the possibility of indeterminacy and sunspots, or alternatively put, in the existence of a continuum of equilibria that arises in dynamic economies with some market imperfections. Much of the research in this area has been concerned with the empirical plausibility of indeterminacy in markets with external effects or with monopolistic competition and which exhibit some degree of increasing returns. While the early results on indeterminacy relied on relatively large increasing returns and high markups, more recently Benhabib and Farmer (1996a) showed that indeterminacy can also occur in two-sector models with small sector-specific external effects and very mild increasing returns.