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    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/107612


    Title: Indeterminacy and the properties of the utility function
    Authors: Lee, Shun-Fa;Chen, Been-Lon;Raurich, Xavier
    Keywords: Indeterminacy;non-separable preferences;income effect;labor supply elasticity
    Date: 2016-07-27
    Issue Date: 2016-10-04 02:11:35 (UTC+8)
    Publisher: springer
    Abstract: This paper studies an infinite-horizon two-sector growth model with sector-specific externalities and preferences that are non-separable between consumption and leisure. We find that a larger income effect of the leisure demand increases the possibility of indeterminacy. We also find that a larger labor supply elasticity may increase or decrease the possibility of indeterminacy, depending on the intensity of the income effect. We show that these findings also hold in a one-sector growth model.
    Relation: 光碟
    Appears in Collections:[Graduate Institute & Department of Industrial Economics] Proceeding

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