Detail On The Nonstationary Sunspot Equilibria Generated by An Unbounded Growth Model   Oleh:  Shigoka, Tadashi Jenis: Article from Bulletin/Magazine Dalam koleksi: JAPAN AND THE WORLD ECONOMY vol. 9 no. 2 (1997), page 261-278. Topik: GROWTH; sun spot equilibria; growth model Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ47.7 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel We construct non stationary sunspot equilibria in an unbounded growth model associated with Boldrin and Rustichini (1994) which is a variant of the Rebelo (1991) model. The constructed equilibria constitute a continuum of the balanced growth equilibria whose average growth rates are different from each other in spite of the fact that fundamental characteristics of an underlying deterministic model are identical. The equilibrium stochastic process exhibits strong statistical regularities such as a cointegrated relation, and generates both a stochastic trend and transitory cyclical fluctuations in a purely endogenous fashion. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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