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  • 學位論文

小型開放經濟體下之特定投資技術

Investment-specific Technology in a Small Open Economy

指導教授 : 張永隆

摘要


無資料

並列摘要


We set up a small open economy model base on Letendre and Luo (2007). The model includes neutral technology shocks and investment-specific technology shocks and is calibrated to annual Singapore data. We find that the investment-specific change may be an important factor of the output growth in the long run, but is not helpful to explain the fluctuation of the output. The impulse responses of the selected variables to the nuetral technology shock is larger than the investment-specific technology .In addition, the model can match the sign of the data moment but cannot match the data moment very well.

並列關鍵字

Singapore small open economy

參考文獻


1 :Fisher, J.D.M. (2006) The dynamic effects of neutral and investment-specific technology shocks. Journal of Political Economy, 114 (3), 413-451.
2 : Greenwood, J., Hercowitz, Z. and Krusell, P. (1997) Long-run implications of investment specific-technology change. American Economic Review 78, 402-417.
3 : Greenwood, J., Hercowitz, Z. and Krusell, P. (2000) The role of investment-specific technological change in the business cycle. European Economic Review 44, 91-115.
5 : King, R.G., Plosser, C.I., and Rebelo, S.T. (1988) Production, Growth and Business cycles: 1. The Basic Neoclassical Model. Journal of Monetary Economics Vol. 21. 195-232
6 : King, R.G., and Rebelo, S.T. (1999) Resuscitating Real Business Cycles. Handbook of macroeconomics. Vol. 1B. 927-1007

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