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Export Reference (APA) 
Gomes, O. (2010). Endogenous Growth, Price Stability and Market Disequilibria. Metroeconomica. 61 (1), 3-34
Export Reference (IEEE) 
O. M. Gomes,  "Endogenous Growth, Price Stability and Market Disequilibria", in Metroeconomica, vol. 61, no. 1, pp. 3-34, 2010
Export BibTeX 
@article{gomes2010_1715931276627,
	author = "Gomes, O.",
	title = "Endogenous Growth, Price Stability and Market Disequilibria",
	journal = "Metroeconomica",
	year = "2010",
	volume = "61",
	number = "1",
	doi = "10.1111/j.1467-999X.2009.04063.x",
	pages = "3-34",
	url = "http://onlinelibrary.wiley.com/doi/10.1111/j.1467-999X.2009.04063.x"
}
Export RIS 
TY  - JOUR
TI  - Endogenous Growth, Price Stability and Market Disequilibria
T2  - Metroeconomica
VL  - 61
IS  - 1
AU  - Gomes, O.
PY  - 2010
SP  - 3-34
SN  - 0026-1386
DO  - 10.1111/j.1467-999X.2009.04063.x
UR  - http://onlinelibrary.wiley.com/doi/10.1111/j.1467-999X.2009.04063.x
AB  - Resorting to an endogenous growth framework, the paper studies the implications of taking market clearing as a long term possibility rather than an every period implicit assumption, as is conventional in growth analysis. Under the proposed setup, the system may converge to a market equilibrium outcome in the same way it can converge to a state of constant growth; however, local instability may deviate the economy from the long run stable result. The underlying main assumption respects to an adjustment mechanism in which: (i) transitional dynamics are characterized by the persistence of an accumulated market imbalance; (ii) monetary authorities are able to guarantee price stability. The implications of this modelling structure are the following: (a) a market clearing equilibrium may co-exist with other equilibrium points; (b) several types of stability outcomes are obtainable; (c) monetary policy becomes relevant for growth.
ER  -