Growth and business cycles with equilibrium indeterminacy / Kazuo Mino.

Preface; Contents; About the Author; 1 Introduction; 1.1 A Brief Overview; 1.2 A Univariable Rational Expectations Model; 1.2.1 Base Model; 1.2.1.1 The Case with a Unique Steady State; 1.2.1.2 The Case with Multiple Steady States; 1.2.1.3 The Case with a Continuum of Steady States; 1.2.2 Fundamental Disturbances; 1.3 General Equilibrium Models of the Monetary Economy; 1.3.1 Base Model; 1.3.2 The Case with a Unique Steady State; 1.3.3 The Case with Multiple Steady States; 1.3.3.1 Hyper Inflation; 1.3.3.2 Taylor Rule; 1.3.4 A Model with a Continuum of Steady States

1.4 References and Related Studies2 Indeterminacy in Real Business Cycle Models; 2.1 One-Sector Growth Models with Fixed Labor Supply; 2.1.1 A Model with Production Externalities; 2.1.2 A Model with Productive Consumption; 2.2 The Benhabib-Farmer-Guo Approach; 2.2.1 Base Model; 2.2.2 Dynamic System; 2.2.3 Indeterminacy Conditions; 2.2.4 Calibration; 2.3 The Source of Indeterminacy; 2.3.1 Strategic Complementarity; 2.3.2 Intuitive Implication of Indeterminacy Conditions; 2.4 Related Issues; 2.4.1 Indeterminacy Under Mild Increasing Returns; 2.4.1.1 Endogenous Capital Utilization

2.4.1.2 Two-Sector Economy2.4.2 Preference Structure; 2.4.2.1 Non-separable Utility; 2.4.2.2 The Role of the Income Effect; 2.4.3 Consumption Externalities; 2.4.3.1 Basic Idea; 2.4.3.2 A Two-Sector Model; 2.4.4 News Versus Sunspots; 2.4.5 Local Versus Global Indeterminacy; 2.5 References and Related Studies; 3 Indeterminacy in Endogenous Growth Models; 3.1 A One-Sector Model with Social Increasing Returns; 3.1.1 Separable Utility; 3.1.2 Non-separable Utility; 3.2 A Two-Sector Model with Intersectoral Externalities; 3.2.1 Model; 3.2.2 Dynamic System; 3.2.3 Indeterminacy Conditions

3.3 A Two-Sector Model with Flexible Labor Supply3.3.1 Model; 3.3.2 Dynamic System; 3.3.3 Conditions for Indeterminacy; 3.3.4 An Alternative Formulation; 3.4 Indeterminacy Under Social Constant Returns; 3.4.1 Setup; 3.4.2 The Dynamic System; 3.4.3 Local Dynamics; 3.4.4 Conditions for Local Indeterminacy; 3.4.5 Intuitive Implication; 3.4.6 General Technology and Factor Income Taxation; 3.4.6.1 A Generalization; 3.4.6.2 Factor Income Taxation; 3.5 References and Related Studies; 4 Growth Models with Multiple Steady States; 4.1 History Versus Expectations

4.2 A Neoclassical Growth Model with Threshold Externalities4.2.1 Optimal Growth Under a Concave-Convex Production Function; 4.2.2 A Model with Threshold Externalities; 4.2.3 Model; 4.2.4 Steady State Equilibria and Local Dynamics; 4.2.5 Patterns of Global Dynamics; 4.3 Global Indeterminacy in an Endogenous Growth; 4.3.1 Model; 4.3.2 Market Equilibrium Conditions; 4.3.3 Growth Dynamics; 4.3.4 A Simplified System; 4.3.5 Local Dynamics; 4.3.6 Global Dynamics; 4.3.7 Implications; 4.4 References and Related Studies; 5 Stabilization Effects of Policy Rules