Does utility curvature matter for indeterminacy? Kim, Jinill

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Kim, Jinill
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Journal of Economic Behavior & Organization
Diophantine analysis -- Management; Electric utilities -- Analysis; Neoclassical economics -- Analysis
To link to full-text access for this article, visit this link: Byline: Jinill Kim Keywords: Indeterminacy; Utility curvature; Intertemporal elasticity of substitution in consumption Abstract: Several recent papers have argued that it is more likely for indeterminacy to occur under a high intertemporal elasticity of substitution in consumption. This paper claims that this property does not generally hold in neoclassical growth models. We illustrate this claim by combining the features of those recent papers. Author Affiliation: Mail Stop 70, Division of Monetary Affairs, Federal Reserve Board, Washington, DC 20551, USA
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