MONOPOLISTIC COMPETITION, INCREASING RETURNS, AND SELF-FULFILLING PROPHECIES
成果类型：
Article
署名作者：
RIVARD, BA
刊物名称：
JOURNAL OF ECONOMIC THEORY
ISSN/ISSBN：
0022-0531
DOI：
10.1006/jeth.1994.1019
发表日期：
1994
页码：
346-362
关键词：
摘要：
This paper constructs a simple overlapping generations model with money and production in an environment of monopolistically competitive firms and an increasing returns to scale production technology. Within this framework symmetric stationary sunspot equilibria are generated without requiring the assumption of gross complementarity between future consumption and current leisure. Output fluctuations may also be highly persistent in this model.