排序方式： 共有25条查询结果，搜索用时 15 毫秒
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This paper investigates the long-run implications of minimum wage regulation on the growth process with monetary repercussions. The paper shows, among other results, that if the minimum wage floor (MWF) is sufficiently low, then the qualitative behavior of the dynamic path is similar to the case of full employment in which the steady state is a saddle point, and that if the MWF is sufficiently high, the economy decays all the way toward the origin. 相似文献
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This paper develops a hierarchical agency model of deposit insurance. The main purpose of the analysis is to propose a micro-founded model of deposit insurance schemes and study their effects on the behavior of depositors and the monitoring problem for a bank. This paper also characterizes a risk-based premium in equilibrium, and conducts a comparative statics analysis of depositors’ optimal actions. The results supply the basic theoretical foundation for designing deposit insurance schemes. Our findings are consistent with the empirical research on depositor behavior. 相似文献
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Using a two-asset model of a growing competitive economy, it is shown that the optimal growth path can be achieved via a policy operating exclusively on the rate of growth of the money stock. 相似文献
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This paper shows that the usual Ramsey-Cass-Koopmans optimal-growth theory is applicable to decentralized monetary economies and illustrates, with a simple model, how optimal growth can be achieved via a simple monetary policy. Securities and the endogeneity aspect of the money supply are explicitly introduced. This paper shows that the steady state under optimal growth is a saddle point, that the dynamic behavior of the capital-labor ratio and real per capita consumption is identical to that found in the usual literature in which money is not introduced, and that the optimal monetary policy is “counter-cyclical.” 相似文献
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A two country two commodity model of international trade in a monetary context is utilized for the re-evaluation of the classical propositions in international trade theory which are usually derived under barter. A comparison of results under alternative exchange rate regimes is given. The effects of tariffs on the balance of payments and on domestic price levels is also studied. 相似文献
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Akira Takayama 《Journal of Macroeconomics》1985,7(3):347-362
This paper investigates the extent by which the permanent income hypothesis (the normal income and the proportionality hypotheses) can be obtained by the optimal control approach with an explicit recognition of individual's rational behavior over time. 相似文献
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This paper identifies and illuminates a common impossibility principle underlying a number of impossibility theorems in social choice. We consider social choice correspondences assigning a choice set to each non-empty subset of social alternatives. Three simple axioms are imposed as follows: unanimity, independence of preferences over infeasible alternatives, and choice consistency with respect to choices out of all possible alternatives. With more than three social alternatives and the universal preference domain, any social choice correspondence that satisfies our axioms is serially dictatorial. A number of known impossibility theorems—including Arrow’s Impossibility Theorem, the Muller–Satterthwaite Theorem, and the impossibility theorem under strategic candidacy—follow as corollaries. 相似文献