Indeterminacy with non-separable utility
type: Item
instance of: scholarly article
title: Indeterminacy with non-separable utility
zbMATH Open document ID: 0972.91067
author: Rosalind L. Bennett
author: Roger E. A. Farmer
published in: Journal of Economic Theory
publication date: 2000-01-01T00:00:00Z
review text: There are conditions under which the one sector growth model with increasing returns-to-scale displays an indeterminate equilibrium studied in the paper. This is a generalization of the Benhabib and Framer model [\textit{J. Benhabib} and \textit{R. E. A. Farmer}, J. Econ. Theory 63, No. 1, 19--41 (1994; Zbl 0803.90022)] in which the preferences of the representative agent are non-separable in consumption and leisure. The proof that the model has a unique steady state in section 6 (Expression for the steady state) is not clear.
reviewed by: Emil Panek
Mathematics Subject Classification ID: 91B62
Mathematics Subject Classification ID: 91B50
zbMATH DE Number: 1525181
zbMATH Keywords: single sector growth
zbMATH Keywords: non-separable utility
zbMATH Keywords: model steady state
zbMATH Keywords: dynamic equilibrium
MaRDI profile type: Publication
OpenAlex ID: W2073387481
cites work: Indeterminacy and increasing returns
cites work: Indeterminacy and sunspots with constant returns
cites work: Real business cycles and the animal spirits hypothesis
cites work: Growth and equilibrium indeterminacy: The role of capital mobility.
DOI: 10.1006/JETH.1999.2633
description: scientific article; zbMATH DE number 1525181