Indeterminacy with environmental and labor dynamics


Karp, L.S. and Thierry, P. (2006) Indeterminacy with environmental and labor dynamics. Structural Change and Economic Dynamics (doi:10.1016/j.strueco.2005.11.004).

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Description/Abstract

We study the joint dynamics of labor reallocation and environmental change when workers have rational expectations and incur migration costs. We emphasize the relation between parameter values and the area of state space in which indeterminacy of equilibria can occur. Unlike the one-dimensional model in which the wage differential adjusts instantaneously, here the measure of the region of indeterminacy is not monotonic in the cost of adjustment.

Item Type: Article
Related URLs:
Keywords: indeterminacy, factor reallocation, environment, costs of adjustment
Subjects: S Agriculture > S Agriculture (General)
H Social Sciences > HE Transportation and Communications
H Social Sciences > HD Industries. Land use. Labor
Divisions: University Structure - Pre August 2011 > School of Social Sciences > Economics
ePrint ID: 39704
Date Deposited: 29 Jun 2006
Last Modified: 27 Mar 2014 18:25
URI: http://eprints.soton.ac.uk/id/eprint/39704

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