We study equilibrium determination in an environment where two types of agents have different information sets: Fully informed observe histories all exogenous and endogenous variables. Less only a strict subset the full set need to solve dynamic signal extraction problem gather about variables they do not directly observe. Both know structure model form expectations rationally. In this environm...

We study the interaction of multiple large economies in dynamic stochastic general equilibrium. Each economy has a monetary policymaker that attempts to control the economy through the use of a linear nominal interest rate feedback rule. We show how the determinacy of worldwide equilibrium depends on the joint behavior of policymakers worldwide. We also show how indeterminacy exposes all econom...

Since the world is full of indeterminacy, the neutrosophics found their place into contemporary research. We now introduce for the first time the notions of neutrosophic measure and neutrosophic integral. Neutrosophic Science means development and applications of neutrosophic logic/set/measure/integral/ probability etc. and their applications in any field. It is possible to define the neutrosop...

In endogenous growth theory models exist which are characterized by local and global indeterminacy. These concepts imply that economies differ with respect to their growth rates on the transition path (local indeterminacy) as well as their long−run growth rates (global indeterminacy). While the empirical density function of the levels of aggregate GDP has been the subject of a great many studie...

In the Appearance/Reality (AR) task some 3- and 4-year-old children make perseverative errors: they choose the same word for the appearance and the function of a deceptive object. Are these errors specific to the AR task, or signs of a general question-answering problem? Preschoolers completed five tasks: AR; simple successive forced-choice question pairs (QP); flexible naming of objects (FN); ...

A challenge to models of equilibrium indeterminacy based on increasing returns is that required increasing returns for generating indeterminacy can be implausibly large and rise quickly with the relative risk aversion in labor. We show that unsynchronized wage adjustment via a relative wage effect can both lower the required degree of increasing returns for indeterminacy to a plausible level an...

Most existing evidences for indeterminacy are obtained from analyzing models that do not consider trade. This paper considers an extension of Nishimura and Shimomura (Journal of Economic Theory, 2002) Heckscher-Ohlin framework by removing sector-specific externalities in one country while maintaining all other assumptions previously made by the authors. We show that even though indeterminacy ar...

Using a finance-constrained model, as in Barinci and Cheron (2001), this paper examines the role of procyclical and countercyclical tax rates on labor and capital income in aggregate fluctuations driven by the beliefs of agents. The analysis shows that the cyclicality of labor income tax rate has the monotonically negative impact on the possibility of indeterminacy, while the non-monotonic rela...

Reproducing empirical results and repeating experimental processes is fundamental to science, but is of grave concern to scientists. Revisiting the same location is necessary for tracking biological processes, yet I argue that ‘location’ and ‘replication’ contain a basic ambiguity. The analysis of the practical meanings of ‘replication’ and ‘location’ will strip of incommensurability from its c...

This paper investigates a two-country model of capital accumulation with country-specific production externalities. The main concern of our discussion is to explore the presence of equilibrium indeterminacy in an open-economy setting. In contrast to the existing studies on equilibrium indeterminacy in small-open economies, the present paper demonstrates that opening up international trade and f...