English, Article edition: Occupational Choice and Dynamic Indeterminacy Kazuo Mino; Koji Shimomura; Ping Wang

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Occupational Choice and Dynamic Indeterminacy
Author
  • Kazuo Mino
  • Koji Shimomura
  • Ping Wang
Physical Description
  • article
Notes
  • This paper construct a two-sector model of two-period lived overlapping generations with endogenous occupational choice where ability-heterogeneous agents choose whether to become educated when young. We show that the steady-state equilibrium can be locally indeterminate even under linear preferences and constant-returns Cobb-Douglas production technologies, regardless of the factor-intensity rankings. Thus, endogenous occupational choice can result in dynamic indeterminacy without complicate preferences/​technologies and without requiring the consumption-good production $more capital-intensive. (Copyright: Elsevier)
  • occupational choice, overlapping generations, indeterminacy of equilibrium
  • RePEc:red:issued:v:8:y:2005:i:1:p:138-153
Language
  • English
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