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Indeterminacy in a Two-sector Endogenous Growth


  • 研討會日期 : 2003-11-04
  • 時間 : 15:00
  • 主講人 : Prof. Koji Shimomura (下村和雄)
  • 地點 : B棟110室
  • 演講者簡介 : Prof.Shimomura為1983年澳洲University of New Wales經濟學博士。 現為神戶大學「經營暨經濟研究所」教授。 其主要研究專長為國際經濟及經濟動態,發表六十餘篇論文於知名國際期刊,如JPE、IER、ET、J Pub E、JEDC、JIE、Game EB等。
  • 演講摘要 : We extend the Barro (1990) model of endogenous growth to a two-sector one which consists of pure consumption and investment goods. It is possible that the extended version has a unique balanced growth rate such that for given initial values of state variables, (i) the extended model economy grows at the unique rate right from the beginning or (ii) it has a continuum of equilibrium paths whose growth rates commonly converge to the balanced growth rate. That is, unlike the original one-sector model, it has transitional dynamics in case (ii). We also show that the effects of small changes in some parameters on the balanced growth rate and the price of the consumption good in terms of the investment good are opposite between (i) and (ii).