Uniqueness and Indeterminacy: On the Dynamics of Endogenous Growth
研究卢卡斯模型及其包含劳动-闲暇选择的一般化版本中的内生增长动力学，刻画产生唯一均衡和连续正增长均衡的参数区域，发现引入内生劳动后多重均衡在经验合理参数下存在。
In this paper we study the dynamics of endogenous growth, both in the model of Lucas and in a generalization that incorporates a labor–leisure choice. We characterize the regions of the parameter space that give rise to unique equilibria as well as the regions that yield a continuum of equilibria with positive growth rates. We find that such multiple equilibria exist for empirically very plausible parameters, in particular when the Lucas model is modified to incorporate endogenous labor. Journal of Economic Literature Numbers: E00, E3, O40.