Abstract
The aim of this paper is to discuss the role of the elasticity of capital-labor substitution on the local determinacy properties of the steady state in a two-sector economy with CES technologies and sector-specific externalities.
We are grateful to T. Seegmuller, K. Shimomura and an anonymous referee for useful comments and suggestions.
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Garnier, JP., Nishimura, K., Venditti, A. (2007). Capital-labor substitution and indeterminacy in continuous-time two-sector models. In: Kusuoka, S., Yamazaki, A. (eds) Advances in Mathematical Economics. Advances in Mathematical Economics, vol 10. Springer, Tokyo. https://doi.org/10.1007/978-4-431-72761-3_2
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DOI: https://doi.org/10.1007/978-4-431-72761-3_2
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Publisher Name: Springer, Tokyo
Print ISBN: 978-4-431-72733-0
Online ISBN: 978-4-431-72761-3
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