演講者簡介 : Prof. Chen, Been-Lon為Ph.D. in Economics，University of California at Los Angeles (1991)。
現為本所研究員兼副所長。
其主要領域為Macroeconomics、Economic Growth及Industrial Economics。
演講摘要 : This paper develops a simple method for studying economic growth dynamics in an endogenous growth model with intertemporally dependent preferences. Using a class of parametric forms for the felicity and the rate of time preference, we illustrate how to simplify the otherwise complicated 3x3 stationary equilibrium system into a two-planer subsystem, and use two diagrams to intuitively analyze the features in the model. We show that there exists a unique balanced growth path and the balanced growth path is locally determinate. We characterize the model by investigating small perturbations in relation to habits. We find that while a higher degree of habit effects in preferences results in a higher economic growth rate over time, a larger degree of habit persistence leads to a smaller economic growth rate over time.
