共查询到20条相似文献,搜索用时 15 毫秒
1.
An overlapping generations model of an exchange economy with two sources of uncertainty is considered. Individuals have a
finite expected life span and uncertain annual income. Conditions concerning birth, death, inheritance and bequests are fully
specified. Under such conditions, the existence of a stationary Markovian equilibrium is established in some generality, and
several explicitly solvable examples are examined in detail.
Received August 6, 2001; revised version received March 12, 2002 Published online: November 11, 2002 相似文献
2.
Simone Valente 《Journal of Economics》2005,86(3):229-258
This paper studies the effects of distortionary taxes and public investment in an endogenous growth OLG model with knowledge
transmission. Fiscal policy affects growth in two respects: first, work time reacts to variations of prospective tax rates
and modifies knowledge formation; second, public spending enhances labour efficiency but also stimulates physical capital
through increased savings. It is shown that Ramsey-optimal policies reduce savings due to high tax rates on young generations,
and are not necessarily growth-improving with respect to a pure private system. Non-Ramsey policies that shift the burden
on adults are always growth-improving due to crowding-in effects: the welfare of all generations is unambiguously higher with
respect to a private system, and there generally exists a continuum of non-optimal tax rates under which long-run growth and
welfare are higher than with the Ramsey-optimal policy. 相似文献
3.
Nils Hauenschild 《Journal of Economic Theory》2002,106(1):201-216
This paper analyzes the impact of pay-as-you-go financed social security on the stochastic process for the capital stock in a stochastic overlapping generations model. It is shown that the probability distribution of the capital stock in absence of social security dominates that in a pay-as-you-go system in the sense of stochastic dominance. Furthermore, the study demonstrates that the sufficient conditions ensuring the existence and uniqueness of stationary equilibria in a pay-as-you-go system are more restrictive than in the model without social security. Journal of Economic Literature Classification Numbers: C62, H55. 相似文献
4.
Patent Policy in an Endogenous Growth Model 总被引:1,自引:0,他引:1
We investigate how the patent policy affects economic growth and social welfare based on an endogenous growth model with R&D
activities. We show that the patent length that maximizes the social welfare is finite. Moreover, by introducing compulsory
licensing, we also show that the patent length that maximizes the social welfare is not infinite even if the royalty rate
can be controlled.
Received June 29, 2001; revised version received February 5, 2002 Published online: February 17, 2003
We wish to thank two anonymous referees for their constructive comments. We also thank Akira Yakita for his helpful comments. 相似文献
5.
Akihiko Kaneko 《Journal of Economics》2003,79(1):1-17
We analyze the determinants of the trade pattern in a two-country growing economy. The long-run trade pattern depends on the
structure of the absolute advantage as well as the comparative advantage, because the absolute advantage determines the terms
of trade and the value of the marginal product of capital which affect the growth rate in our model. Moreover, we find that
opening trade reduces or removes the difference in the growth rates of the two countries when the country lagging in the growth
rate has a comparative advantage in a consumption commodity.
Received June 18, 2001; revised version received July 16, 2002
Published online: April 30, 2003 相似文献
6.
q ratio is derived. We also show that, along the quasi-turnpike path, Tobin's marginal q is equal to the maximum value of average q. But along the turnpike path, marginal q becomes equal to the limiting value of average q.
Received September 15, 1999; revised version received January 25, 2001 相似文献
7.
This paper examines welfare effects of asset bubbles in an endogenous growth model with overlapping generations. In our model, a steady-state equilibrium with bubbles exists only if the presence of bubbles raises the welfare level of the initial generation. Bubbles can be beneficial to generations born at relatively early dates, whereas they reduce the welfare level of sufficiently distant future generations. Increasing the rate of supply of the useless asset improves the lifetime utilities of future generations. 相似文献
8.
Alfred Greiner 《Journal of Economics》1998,68(2):193-198
This note extends the basic endogenous-growth model by Barro [Journal of Political Economy (1990) 98: S103–S125]. It is supposed that the government pays lump-sum transfers to the representative household or levies a lump-sum tax, besides financing public investment. Growth and welfare effects of fiscal policy are studied for the competitive economy and the growth rate of the social optimum is compared with the one of the competitive economy. 相似文献
9.
This paper studies the properties of demand for capital maintenance services and its interaction with investment under variable
capital utilization rate and adjustment costs. The depreciation rate varies with the maintenance effort and the utilization
rate of capital. We show that the properties of the demand functions for maintenance services and capital goods depend closely
on the sign of the cross derivative of the depreciation function, i.e., on whether the marginal efficiency of maintenance
decreases or increases when the rate of capital utilization rises. In our model, it is impossible to reconcile some unquestionable
empirical facts and some minimal regularity conditions on the demand function for maintenance services if this cross derivative
is positive. In all cases, investment and maintenance are gross complements.
Received September 9, 2001; revised version received April 22, 2002 Published online: December 5, 2002 ? Springer-Verlag 2002 相似文献
10.
above the certainty level while for additive uncertainty the price should be lower than the certainty level. This note gives an intuitive explanation for the result after first presenting a parsimonious review
of the two models. We also discuss which, if either, of the two models is more realistic.
Received December 14, 2001; revised version received July 16, 2002
Published online: April 30, 2003
We thank referees for helpful comments. Ciaran Driver would like to acknowledge the research facilities from ANU, Canberra
for their help in writing this paper. 相似文献
11.
Sajid Anwar 《Journal of Economics》2003,78(3):259-272
This paper examines the impact of exogenous changes in the supply of primary factors of production on the relative size of
government and welfare in the context of a model where increasing returns are present in the production of an intermediate
good. It is shown that an increase in the supply of labor (capital) increases the relative size of government if the share
of labor is large (small) in the public sector as compared to the private sector. An increase in the supply of capital increases
welfare but the impact of an increase in the supply of labor cannot be unambiguously determined. In the context of a North-South
model, the paper also considers the pattern of trade. It is shown that North will export capital-intensive intermediate goods
to the South.
Received September 13, 2001; revised version received June 1, 2002 Published online: February 17, 2003
I am indebted to Professor Bob Catley and two anonymous referees for invaluable comments and suggestions. However, responsibility
of any remaining errors or omissions is mine alone. 相似文献
12.
G. Bethuyne 《Journal of Economics》2002,76(2):123-154
Received December 7, 1999; revised version received July 26, 2001 相似文献
13.
Dave Furth 《Journal of Economics》2003,78(1):57-82
In this paper, a solution concept from cooperative game theory is applied to a special kind of oligopolistic markets. Traditionally,
oligopoly theory uses non-cooperative game theory. The cooperative solution concept, the Price Core, has been specially developed
for this paper. In contrast to the Core, in the Price Core, different consumers may pay different prices for the same commodity.
An example shows that the set of competitive allocations may be a proper subset of the Core and that the Core may be a proper
subset of the Price Core.
Received July 24, 2001; revised version received February 25, 2002 Published online: December 5, 2002 相似文献
14.
Received August 5, 1999; revised version received July 20, 2001 相似文献
15.
Bernd Woeckener 《Journal of Economics》2002,77(2):185-196
In this paper, we analyze spatial competition within the framework of a Hotelling model with quadratic transportation costs
and an outside option. The new feature of our approach is that consumers are uniformly distributed not only along the Hotelling
line but also with regard to reservation prices. It turns out that in this particular model, duopolists always locate their shops exactly at the first and third quartile of the consumer distribution – i.e., at the socially optimal locations. Moreover, with uniformly distributed reservation prices, less than seventy percent of the consumers buy the good,
and profits are less than fifteen percent of those in the standard model without an outside option.
Received February 7, 2001; revised version received March 27, 2002 Published online: November 11, 2002 相似文献
16.
Toshihiro Matsumura 《Journal of Economics》2002,75(3):199-210
m -period duopoly model with inventory costs, where each firm chooses when to produce. We find that, in contrast to most existing
works concerning endogenous roles of the firms, no pure strategy equilibrium exists when m is strictly larger than two. This result indicates that no stable pattern of allocation of roles exists except for a two-period
model; thus the leader-follower relationship inevitably becomes instable.
Received August 1, 2000; revised version received July 20, 2001 相似文献
17.
Prabal Ray Chaudhuri 《Economic Theory》1997,10(2):335-360
Summary. We consider a generalized assignment model where the payoffs depend on the number of matchings that take place. We formulate
a simple non-cooperative game and look for subgame perfect equilibrium of this model. Existence is established for a wide
class of games. We also look at a refinement criterion which, for the standard assignment model, selects the -optimal outcome as the unique equilibrium. We then apply these concepts to a model of technology transfer between domestic
and foreign firms.
Received: June 24, 1994; revised version October 12, 1995 相似文献
18.
Received December 14, 2000; revised version received July 16, 2001 相似文献
19.
Timing of Entry under Externalities 总被引:1,自引:0,他引:1
Received August 23, 2000; revised version received May 14, 2001 相似文献
20.
中国农村公共投资的减贫效果分析 总被引:2,自引:0,他引:2
利用1978~2006年的省级面板数据,采用联立方程模型估计方法,分析了我国农村公共投资的减贫效果。研究表明,政府在农村教育、研发和道路、电力等基础设施方面的投入都可以显著地减少贫困,但其边际减贫效果是不同的。研究结论有助于政府合理地安排对于农村公共投资的优先顺序。 相似文献