Endogenous time preference, investment externalities, and equilibrium indeterminacy

► We model endogenous time preference with investment externalities. ► We mainly examine whether equilibrium indeterminacy arises. ► Under this paper's specification, the steady state uniquely exists. ► Equilibrium indeterminacy does not arise if investment externalities do not exist. ► Equilibrium indeterminacy can be observed if investment externalities exist.