| 題名: | Congestible public goods and local indeterminacy: A two-sector endogenous growth model |
| 作者: | Chen, Been-lon;Lee, Shun-fa |
| 貢獻者: | 淡江大學產業經濟學系 |
| 關鍵詞: | Two-sector model;Congestible public good;Indeterminac |
| 日期: | 2007-07 |
| 上傳時間: | 2011-09-22 09:31:54 (UTC+8) |
| 出版者: | Amsterdam: Elsevier BV |
| 摘要: | This paper shows that the congestible public goods can generate local indeterminacy in a two-sector, constant-return human capital enhanced growth model. While the productive public good exerts positive sector-specific externalities, the congestion effect generates negative aggregate externalities. The sector-specific externalities alone arising from productive public goods cannot establish local indeterminacy without the combination of negative externality in a model with social constant return technology. Congestible public good generates local indeterminacy if the degree of productive public good externality and the degree of congestion effect are large enough. The condition for indeterminacy is independent of the factor intensity rankings. The conditions are quantitatively assessed and the required parameter values for the degrees of public good externality and congestion are consistent with the estimated values in existing literature. |
| 關聯: | Journal of Economic Dynamics and Control 31(7), pp.2486-2518 |
| DOI: | 10.1016/j.jedc.2006.08.004 |
| 顯示於類別: | [產業經濟學系暨研究所] 期刊論文
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