Indeterminacy and the properties of the utility function

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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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