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Kong-Weng Ho and Nicholas Sim
''Indeterminacy and market instability''
( 2007, Vol. 5 No.1 )
This note shows that indeterminacy arising from an economy exhibiting production with social constant returns to scale may be related to the instability of the consumption goods market equilibrium. Furthermore, trade does not contribute to indeterminacy indeterminacy arises becasue each country's equilibrium path is already indeterminate before trade.
JEL: E3 - Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
F4 - Macroeconomic Aspects of International Trade and Finance: General
Manuscript Received : Jan 16 2007 Manuscript Accepted : Feb 18 2007

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