کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5098980 | 1376974 | 2012 | 15 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Decreasing and increasing marginal impatience and the terms of trade in an interdependent world economy
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موضوعات مرتبط
مهندسی و علوم پایه
ریاضیات
کنترل و بهینه سازی
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چکیده انگلیسی
Using a two-good, two-country model, we examine macroeconomic adjustment by allowing for decreasing and increasing marginal impatience (DMI and IMI). In the reference case where both countries have IMI, a negative output shock in one country lowers the interest rate and both countries' welfare levels in steady state, whereas, when either one country has DMI, the negative income shock raises the interest rate, thereby benefiting the IMI country and harming the DMI one in steady state. In a country either with IMI or DMI, the Harberger-Laursen-Metzler effect takes place if negative 'welfare-supporting' effects dominate positive 'income-compensating' effects.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Dynamics and Control - Volume 36, Issue 10, October 2012, Pages 1551-1565
Journal: Journal of Economic Dynamics and Control - Volume 36, Issue 10, October 2012, Pages 1551-1565
نویسندگان
Ken-Ichi Hirose, Shinsuke Ikeda,