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Multiple Equilibrium in the Diamond Capital Model.

Abstract:
When the EIS varies with consumption, multiple, even uncountably many, steady-state solutions may be obtained to the Diamond Capital Model. The many equilibria are solutions to a differential equation for the EIS value. This technique has general application.

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Publisher:
Elsevier
Journal:
Economics Letters More from this journal
Volume:
100
Issue:
1
Pages:
143 - 145
Publication date:
2008-01-01
DOI:
ISSN:
0165-1765
Language:
English
UUID:
uuid:1ba8acf8-2284-443d-9d39-cc65c329158e
Local pid:
oai:economics.ouls.ox.ac.uk:12593
Deposit date:
2011-08-15

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