淡江大學機構典藏:Item 987654321/57622
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    Please use this identifier to cite or link to this item: https://tkuir.lib.tku.edu.tw/dspace/handle/987654321/57622


    Title: Congestible public goods and local indeterminacy: A two-sector endogenous growth model
    Authors: Chen, Been-lon;Lee, Shun-fa
    Contributors: 淡江大學產業經濟學系
    Keywords: Two-sector model;Congestible public good;Indeterminac
    Date: 2007-07
    Issue Date: 2011-09-22 09:31:54 (UTC+8)
    Publisher: Amsterdam: Elsevier BV
    Abstract: 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.
    Relation: Journal of Economic Dynamics and Control 31(7), pp.2486-2518
    DOI: 10.1016/j.jedc.2006.08.004
    Appears in Collections:[Graduate Institute & Department of Industrial Economics] Journal Article

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