Munich Personal RePEc Archive

Occupational Choice and Dynamic Indeterminacy

Mino, Kazuo and Shimomura, Koji and Wang, Pin (2004): Occupational Choice and Dynamic Indeterminacy. Published in: Review of Economic Dynamics (2004)

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Abstract

This paper constructs a two-sector model of two-period lived overlapping generations with endogenous occupational choice where ability-heterogeneous agents choose whether to become educated when young and henceforth to become skilled when old. We show that endogenous occupational choice in this two-sector framework can result in dynamic indeterminacy without complicate preferences/technologies and without requiring the consumption-good production to be more capital-intensive.

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