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ralph lauren polo

 
Thomas Seegmuller
 
''Endogenous fluctuations and public services in a simple OLG economy''
( 2003, Vol. 5 No.10 )
 
 
In a simple OLG model, we introduce public services which work as a source of utility. Assuming constant returns to scale in the production, we show that public services promote the occurrence of local indeterminacy. In contrast to a lot of existing contributions which have exploited productive externalities, this paper establishes that the existence of externalities in the utility function can explain the emergence of endogenous fluctuations.
 
 
Keywords: Endogenous fluctuations
JEL: E3 - Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
H4 - Publicly Provided Goods: General
 
Manuscript Received : Feb 20 2003 Manuscript Accepted : May 22 2003

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