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Indeterminacy with environmental and labor dynamics

Record type: Article

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.

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Citation

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).

More information

Published date: 24 February 2006
Keywords: indeterminacy, factor reallocation, environment, costs of adjustment

Identifiers

Local EPrints ID: 39704
URI: http://eprints.soton.ac.uk/id/eprint/39704
ISSN: 0954-349X
PURE UUID: 30466abd-9ceb-4148-b5d8-a6b170206211

Catalogue record

Date deposited: 29 Jun 2006
Last modified: 17 Jul 2017 15:35

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Contributors

Author: L.S. Karp
Author: P. Thierry

University divisions


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