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.
| Hovedforfatter: | |
|---|---|
| Format: | Journal article |
| Sprog: | English |
| Udgivet: |
Elsevier
2008
|