Capital-labor substitution and equilibrium indeterminacy

DOI10.1016/j.jedc.2009.06.004zbMath1183.91095OpenAlexW3124971010MaRDI QIDQ1042726

Kevin J. Lansing, Jang-Ting Guo

Publication date: 7 December 2009

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jedc.2009.06.004

zbMATH Keywords

equilibrium indeterminacysunspotscapital utilizationreal business cyclescapital-labor substitution

Mathematics Subject Classification ID

Special types of economic equilibria (91B52) Economic dynamics (91B55)

Related Items (6)

Getting normalization right: dealing with `dimensional constants' in macroeconomics ⋮ Optimal size of the government: the role of the elasticity of substitution ⋮ Aggregate instability under balanced-budget consumption taxes: a re-examination ⋮ Business cycle fluctuations and learning-by-doing externalities in a one-sector model ⋮ Indeterminacy and expectation-driven fluctuations with non-separable preferences ⋮ FACTOR SUBSTITUTION AND ECONOMIC GROWTH: A UNIFIED APPROACH

Cites Work

• Capacity utilization under increasing returns to scale
• Capital-labor substitution and competitive nonlinear endogenous business cycles
• Indeterminacy and increasing returns
• Real business cycles and the animal spirits hypothesis
• On the cyclical allocation of risk
• On the minimum degree of returns to scale in sunspot models of the business cycle.
• Intertemporal and intratemporal substitution, and the speed of convergence in the neoclassical growth model.
• Calibration of normalised CES production functions in dynamic models
• Indeterminacy with almost constant returns to scale: capital-labor substitution matters
• INDETERMINACY AND THE ROLE OF FACTOR SUBSTITUTABILITY

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