文章基本信息

标题：Endogenous fluctuations and public services in a simple OLG economy
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作者：Thomas Seegmuller
期刊名称：Economics Bulletin
电子版ISSN：1545-2921
出版年度：2003
卷号：5
出版社：Economics Bulletin
摘要：In a simple OLG model, we introduce public services which work as a source of utility. Assuming constant returns to scale in the production, we show that public services promote the occurrence of local indeterminacy. In contrast to a lot of existing contributions which have exploited productive externalities, this paper establishes that the existence of externalities in the utility function can explain the emergence of endogenous fluctuations.
关键词：Endogenous fluctuations