Teresa Lloyd-Braga

TL;DR: In this paper, the influence of the elasticity of capital substitution and of the labor supply elasticity on the existence of multiple Pareto-ranked stationary equilibria, local indeterminacy, bifurcations, and expectations-driven fluctuations in economies with external and internal increasing returns to scale in production is studied.

TL;DR: In this article, the effects of stylized stabilization policies on endogenously created fluctuations were investigated in a simple monetary model with intertemporally optimizing agents and it was shown that stabilization policies that are sufficiently countercyclical in the sense that government spending (on transfers or demand) depends sufficiently strongly negatively on GNP-increases can stabilize the economy at a monetary steady state for an arbitrarily low degree of distortion of that steady state.

TL;DR: In this article, the authors explore the effects of markup variability associated with free entry of Cournotian firms on the occurrence of local indeterminacy, local Hopf bifurcations and multiplicity of steady states.

TL;DR: In this paper, the authors consider an aggregate two-periods overlapping generations model with endogenous labor, consumption in both periods of life, homothetic preferences and productive external effects coming from the average capital and labor.

TL;DR: In this article, the role of public spending, financed by (labour or capital) income and consumption taxation, on the emergence of indeterminacy is investigated. And the results in terms of the level of the tax rate, its variability with respect to the tax base and the degree of externalities in preferences due to the existence of a public good are discussed.