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
Digital Object Identifier (DOI): doi:10.1016/j.strueco.2005.11.004
ISSNs: 0954-349X (print)
Keywords: indeterminacy, factor reallocation, environment, costs of adjustment
Subjects:

ePrint ID: 39704
Date :
Date Event
24 February 2006Published
Date Deposited: 29 Jun 2006
Last Modified: 16 Apr 2017 21:54
Further Information:Google Scholar
URI: http://eprints.soton.ac.uk/id/eprint/39704

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