演講者簡介 : 何泰寬教授為Ph.D. in Economics，University of Bonn (2003)。現為中正大學經濟系副教授。其主要研究領域為國際金融、總體經濟、貨幣銀行及金融危機。
演講摘要 : I apply the method of business cycle accounting to Taiwan’s first post-war recession in 2001. I find that labor (intra-temporal) wedge was the most important factor causing the declines in output and in labor input. Government consumption wedge, which represents foreign demand shock, was the most important factor causing the declines in investment. While the foreign demand shock has received attention in the literature, the importance of labor (intra-temporal) wedge to the 2001 recession is new to the literature. These findings are robust to the specification of the technology of the prototype model, investment adjustment costs, and the adjustment in converting an open economy national income into the prototype model.
