不定均衡在具生產外部性之兩部門模型應用 - 以 Benhabib and Farmer (1994) 為基礎

Indeterminacy in a Two-sector Model with Factors of Production Externalities - Based on Benhabib and Farmer (1994)

張筱隴(Hsiao-Lung Chang)

指導教授 ： 陳明郎

國立臺灣大學/社會科學院/經濟學研究所/碩士(2012年)

https://doi.org/10.6342/NTU.2012.01123

摘要

本篇論文主要係探討在不定均衡於具有規模報酬遞增生產特性之兩部門實質景氣循環模型中之動態性質。全文以Benhabib and Farmer (1994)之模型架構為基礎，並將傳統休閒財定義為需經勞力及資本投入生產過程而取得，試圖構建合理模型參數範圍以出現不定均衡之現象。本文主要發現為於傳統參數範圍設定下，本模型設定並不會出現不定均衡之結果。更由甚者，由上揭結果暗示傳統文獻中不定均衡易於兩部門模型架構下呈現之結論，容有討論及證實之空間。

關鍵字

不定均衡 ； 生產外部性 ； 預期自我實現 ； 太陽黑子均衡 ； 模型校正

並列摘要

In this paper we present a two-sector real business cycle (RBC) model with one sector whose production function is with increasing return-to-scale occurring as a consequence of production externalities. We also redefine the leisure as production output from both labor and capital input as well. The findings show that indeterminacy would not exist in such specific models' setting. Moreover, this result may suggest that the common notion where a two-sector model would be easier to generate indeterminacy than a one-sector model would not stand for some special settings.

並列關鍵字

Indeterminacy ； Production externalities ； Self-fulfilling expectations ； Sunspot equilibrium ； Calibration

參考文獻

Akos Valentinyi and Herrendorf, Berthold (2008), “Measuring factor income shares at the sectoral level”, Review of Economic Dynamics, 11, 820–835.

Basu, Susanto and Fernald, John G. (1995), “Are apparent productive spillovers a figment of specification error?”, Journal of Monetary Economics, 36, 165–188.

Basu, Susanto and Fernald, John G. (1997), “Returns to scale in u.s. production: Estimates and implications”,

Journal of Political Economy, 105, 249–283.

Benhabib, Jess and Farmer, Roger E. A. (1994), “Indeterminacy and increasing returns”, Journal of Economic Theory, 63, 19–41.