共查询到14条相似文献,搜索用时 15 毫秒
1.
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
2.
Jumpei Tanaka 《Journal of Economics》2003,79(1):19-39
Constructing an endogenously growing overlapping generations model with public investment, we examine the welfare effects
of a fiscal reconstruction policy. In this paper we define a fiscal reconstruction policy as a policy where the government
reduces its spending level without changing the tax revenue and allocates the surplus of the revenue to redeem public debt.
We show that if government spending is not productive it is possible that a fiscal reconstruction policy improves the utilities
of both the current and future generations, while if government spending is productive it can harm the utilities of both generations.
Received February 26, 2002; revised version received July 8, 2002
Published online: February 17, 2003 相似文献
3.
G. Bethuyne 《Journal of Economics》2002,76(2):123-154
Received December 7, 1999; revised version received July 26, 2001 相似文献
4.
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
5.
Jürgen Meckl 《Journal of Economics》2002,77(3):241-266
This paper addresses the criticism that balanced growth models are inconsistent with the dynamics of structural change characterizing
the process of economic development. Using a sectoral disaggregated version of a research-driven growth model, we develop
the concept of a generalized balanced growth path (GBGP). Along a GBGP, macroeconomic variables grow at constant rates while
disaggregated variables grow at non-constant rates. As a result, balanced growth in macroeconomic aggregates and structural
change can occur simultaneously.
Received April 3, 2001; revised version received February 20, 2002 Published online: November 11, 2002 相似文献
6.
Takashi Unayama 《Journal of Economics》2003,79(1):41-60
This paper introduces product variety into the Balassa-Samuelson model in order to extend the model of real exchange rate
determination. With product differentiation, real exchange rates depend not only on the relative price of nontradables to
tradables but also on relative prices among tradables. This paper identifies a new factor that determines the extent of variety,
termed Infrastructural Technology, and that affects real exchange rates not through the relative price of nontradables but
through relative prices among tradables. This paper also conducts empirical tests, and the results of these tests support
the model.
Received May 31, 2001; revised version received March 20, 2002
Published online: April 30, 2003 相似文献
7.
Received August 5, 1999; revised version received July 20, 2001 相似文献
8.
Giovanni Piersanti 《Journal of Economics》2002,77(1):1-22
This paper uses an optimizing open economy general-equilibrium model to investigate the macroeconomic effects of current and
expected future budget deficits. It is shown that current and expected future budget deficits are positively correlated with
the current account deficit, the capital stock and the real exchange rate, but negatively correlated with the domestic real
interest rate and consumption, along the stable path approaching the steady state. The paper also demonstrates that the world
real interest rate is positively correlated with consumption, foreign assets and the domestic real interest rate, but negatively
correlated with the capital stock and the real exchange rate.
Received April 11, 2001; revised version received October 25, 2001 相似文献
9.
Human Capital,Technology, and Specialization: A Comparison of Developed and Developing Countries 总被引:1,自引:0,他引:1
GDP
GDP function framework, and apply it to panel data. We find that factor supplies and openness to trade are important factors
influencing the structure of production, but we also uncover interesting differences in results across output sectors and
groups of countries. In addition, we find evidence that Hicks-neutral technological differences do not affect specialization.
Finally, our results on the effect of openness highlight the sources of conflicts between developed and developing countries
in multilateral trade negotiations.
Received April 18, 2000; revised version received January 8, 2001 相似文献
10.
We consider a model of optimal law enforcement where sanctions are reduced for self-reporting individuals. Violators get private
signals about their individual probabilities of apprehension after they committed a crime. Since violators will self-report if and only if the signal is above a specific threshold, the possibility
of self-reporting has an option value that leads to a higher crime rate if the authority's effort remains unchanged. We demonstrate
that self-reporting nevertheless increases social welfare even under the restriction that the crime rate must not be higher
than without self-reporting.
Received June 15, 2001; revised version received December 19, 2001 相似文献
11.
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
12.
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
13.
We examine the profitability of two different cartel organizational forms: full collusion, under which firms collude on both price and quality, and semicollusion, under which firms collude on price only. We show that, in the presence of demand uncertainty that cannot be contracted upon
in the cartel agreement, firms may be better off limiting their collusive agreement to price only. However, a positive relationship
between demand uncertainty and the relative profitability of semicollusion exists only for low levels of demand substitutability. The converse is true for high levels of demand substitutability. Therefore, if
demand substitutability is sufficiently high, no level of demand uncertainty will make semicollusion the optimal organizational form. In contrast, semicollusion is guaranteed
to be optimal for a sufficiently low level of demand substitutability. The market structure described is motivated by and
closely parallels that of shipping cartels.
Received September 29, 2000; revised version received December 10, 2001 Published online: November 11, 2002 相似文献
14.
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