Multiple Equilibrium in the Diamond Capital Model.
When the EIS varies with consumption, multiple, even uncountably many, steady-state solutions may be obtained to the Diamond Capital Model. The many equilibria are solutions to a differential equation for the EIS value. This technique has general application.
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| Formato: | Journal article |
| Idioma: | English |
| Publicado em: |
Elsevier
2008
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