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- W1986544974 abstract "In this paper, we consider a simple model of neo-classical capital accumulation with production externalities, in which a continuum of identical infinitely lived agents produce output from a standard stationary neo-classical production technology, and choose their actions to maximize a discounted sum of single period utilities. Because of the presence of the externality in production, the model exhibits sunspot equilibria." @default.
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- W1986544974 date "1991-06-01" @default.
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- W1986544974 title "Growth, externalities, and sunspots" @default.
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- W1986544974 doi "https://doi.org/10.1016/0022-0531(91)90115-k" @default.
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