Article ID Journal Published Year Pages File Type
9732039 Review of Economic Dynamics 2005 16 Pages PDF
Abstract
This paper constructs a two-sector model of two-period lived overlapping generations with endogenous occupational choice in which ability-heterogeneous agents choose whether to become educated when young and skilled when old. We show that endogenous occupational choice in this two-sector framework can result in dynamic indeterminacy without complicated preferences/technologies and without requiring the consumption-good production to be more capital-intensive.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Authors
, , ,