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indeterminacy of equilibria
This paper studies the equilibrium dynamics and indeterminacy of equilibria in an endogenous growth model with endogenous fertility choice.
      
Evolutionary selection is thus shown as a way to resolve the issue of indeterminacy of equilibria associated with models of currency crises.
      
This indeterminacy of equilibria is closely related to that in overlapping generations economies.
      
Real indeterminacy of equilibria in a sunspot economy with inside money
      
With this assumption, it can be shown that multiple steady states, indeterminacy of equilibria, and persistent cycles may result in our model.
      
For this general model, we provide sufficient conditions on the elasticities of capital/labor substitution for local indeterminacy of equilibria.
      
We lastly give a mild assumption for indeterminacy of equilibria and compute the dimension of indeterminacy.
      
Finally, we exhibit an example which shows that a differential information situation can remove the real indeterminacy of equilibria.
      
Their goal however was to use these characterizations to analyze the indeterminacy of equilibria.
      
The real indeterminacy of equilibria as it appears with incomplete nominal assets is shown to be a robust behavior.
      
 

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