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    题名: Indeterminacy and the properties of the utility function
    作者: Lee, Shun-Fa;Chen, Been-Lon;Raurich, Xavier
    关键词: Indeterminacy;non-separable preferences;income effect;labor supply elasticity
    日期: 2016-07-27
    上传时间: 2016-10-04 02:11:35 (UTC+8)
    出版者: springer
    摘要: This paper studies an infinite-horizon two-sector growth model with sector-specific externalities and preferences that are non-separable between consumption and leisure. We find that a larger income effect of the leisure demand increases the possibility of indeterminacy. We also find that a larger labor supply elasticity may increase or decrease the possibility of indeterminacy, depending on the intensity of the income effect. We show that these findings also hold in a one-sector growth model.
    關聯: 光碟
    显示于类别:[產業經濟學系暨研究所] 會議論文

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