超中立性與不確定性：勞動內生化之預持現金模型

Superneutrality and Indeterminacy in a Cash-in-Advance Economy with Endogenous Labor Supply

朱紘漢(Hung-Han Chu)

指導教授 ： 陳虹如

國立臺灣大學/社會科學院/經濟學研究所/碩士(2008年)

https://doi.org/10.6342/NTU.2008.01601

摘要

本文討論在具有預持現金限制的單部門內生成長模型中, 引入內生化的勞動供給決策與休閒外部性, 貨幣供給成長的變動對於總體經濟的影響。我們發現, 提高名目貨幣供給成長率除了加速通貨膨脹, 也使家計單位增加在均衡時的休閒消費量。同時, 較高的名目貨幣供給成長率使均衡的就業量、經濟成長率和資本租賃利率下降。換句話說, 貨幣對經濟成長不具有超中立性。另一方面, 休閒外部性的存在使經濟體的均衡可能呈現不確定性。均衡是否具有不確定性, 取決於經濟體平均休閒消費量對家計單位效用的影響方向與程度。

關鍵字

貨幣超中立性 ； 均衡不確定性 ； 預持現金限制 ； 內生化勞動供給 ； 休閒外部性

並列摘要

This paper examines the impact of introducing endogenous labor supply and leisure externality into a cash-in-advance economy with one sector endogenous growth. We find that money is not superneutral in the growth-rate sense. An increase
in the nominal money growth rate raises inflation and leisure
consuming. Moreover, the equilibrium employment, the growth rate of national income, and the equilibrium capital rental rate will decrease at the same time. In addition, equilibrium indeterminacy arises if the intensity of leisure externality is large enough. The existence of indeterminacy is crucially depends on the degree of leisure externality.

並列關鍵字

Superneutrality in the growth-rate sense ； Indeterminacy ； Cash-in-advance constraint ； Endogenous labor supply ； Leisure externality

參考文獻

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