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Multiple Equilibria in a Dynamic Two Country Model

Kazumichi Iwasa and Kazuo Nishimura

in Dimensions of Economic Theory and Policy: Essays for Anjan Mukherji

Published in print:
2011
Published Online:
September 2012
ISBN:
9780198073970
eISBN:
9780199081615
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198073970.003.0005
Subject:
Economics and Finance, Microeconomics

Some market distortional factors such as factor-generated externalities and imperfect competition can give rise to multiple equilibrium paths, or indeterminacy, in dynamic general equilibrium models. ... More


Contracts and Global Sourcing

Pol Antràs

in Global Production: Firms, Contracts, and Trade Structure

Published in print:
2015
Published Online:
October 2017
ISBN:
9780691168272
eISBN:
9781400873746
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691168272.003.0004
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter analyzes the implications of weak contract enforcement for the international organization of production. With that goal in mind, the chapter starts by going back to the benchmark ... More


The Transmission of Domestic Shocks in Open Economies

Christopher Erceg, Christopher Gust, and David López-Salido (eds)

in International Dimensions of Monetary Policy

Published in print:
2010
Published Online:
February 2013
ISBN:
9780226278865
eISBN:
9780226278872
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226278872.003.0003
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter analyzes the extent to which openness to trade may influence the economy's response to domestic shocks. The analysis is conducted in terms of two models, that is, a medium-scale ... More


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