Indeterminacy in a dynamic two-country model (Q2509146)
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| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Indeterminacy in a dynamic two-country model |
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Indeterminacy in a dynamic two-country model (English)
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18 October 2006
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This paper establishes the indeterminacy of a trade equilibrium in a dynamic two-country model of international trade with Leontieff technologies and in the absence of complete specialization. The indeterminacy results from the inefficiency of the economy in the absence of an international financial market.
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Indeterminacy
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heterogeneous agents
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Leontieff technology
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