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We consider a one-step matrix cocycle generated by a pair of non-negative parabolic matrices and study the equilibrium measures for as runs over the reals. We show that there is a freezing first order phase transition at some parameter value so that for the equilibrium measure is non-unique and supported on the two fixed points, while for , the equilibrium measure is unique, non-atomic and fully supported. The phase transition closely resembles the classical Hofbauer example. In particular, our example shows that there may be non-unique equilibrium measures for negative even if the cocycle is strongly irreducible and proximal.

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