共查询到4条相似文献，搜索用时 0 毫秒
1.
Roberto M. Samaniego 《Journal of Monetary Economics》2006,53(7):1555-1569
There is evidence linking the productivity slowdown of the 1970s and 1980s to changing patterns of technological adoption related to the spread of information technology (IT). Notably, IT appears to require plant-level reorganization for its full implementation.I develop a general equilibrium model in which organizational capital plays a central role in establishment dynamics, and study its transition path after a shock in the form of an incompatibility between new technologies and previously accumulated plant-level expertise. The behavior of the model is consistent with the structure of the slowdown, as well as the subsequent resurgence. Further applications are discussed. 相似文献
2.
HUGO A. HOPENHAYN 《Journal of Money, Credit and Banking》2011,43(Z1):111-145
Models of firm microstructure are becoming now a standard building block in macroeconomics, trade, and development. This literature builds on the recognition that firm heterogeneity and the allocation of resources across firms plays a key role in determining aggregate productivity and the gains from trade. Barriers to the efficient allocation of resources across firms have been recently recognized to play a key role in economic development. This paper focuses on this methodological contribution, the link between firm microstructure and economic aggregates. 相似文献
3.
Christopher A. Hartwell 《新兴市场金融与贸易》2017,53(2):250-275
Did increasing the level and pace of financial liberalization during transition expose countries to crises? And if a crisis did strike, did liberalization do more harm or good? Using a database of 28 transition economies over 22 years, this article examines these questions across a host of economic outcomes, including savings and the size of the private sector. The results provide evidence that, while liberalization may initially increase the probability of a crisis, the prospect of a crisis drops dramatically at higher levels of financial openness. Moreover, the benefits of liberalization across several metrics outweigh the risks of these intermediate stages. 相似文献
4.
We establish the equivalence of competitive industry equilibrium with a central planner's decision problem under uncertainty,
when investment is irreversible. The existence of industry equilibrium is derived, and it is shown that myopic behavior on
the part of small agents is harmless, in the sense that it leads to the same decisions as full rational expectations do. Our
model is set in continuous time and allows for very general forms of randomness. The methods are based on the probabilistic
approach to singular stochastic control theory and its connections with optimal stopping problems. 相似文献