A Two-sector Overlapping Generations Model with Endogenous Discounting

被引：2

作者：

Nourry, Carine ^{[2
]}

Sergeeva, Alena ^{[2
,3
]}

Venditti, Alain ^{[1
,4
]}

机构：

[1] CNRS, GREQAM, F-13002 Marseille, France

[2] Univ Mediterranee, Marseille, France

[3] DEFI, Clichy, France

[4] EDHEC, Lille, France

来源：

ASIA-PACIFIC JOURNAL OF ACCOUNTING & ECONOMICS | 2011年 / 18卷 / 03期

关键词：

two-sector OLG model; social production function; endogenous discounting; local indeterminacy; endogenous fluctuations; EQUILIBRIUM; CYCLES;

D O I：

10.1080/16081625.2011.9720888

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

In this paper, we consider a two-sector two-periods overlapping generations model with inelastic labor, consumption in both periods of life, endogenous discounting and homothetic preferences. We prove that under the assumption of under-accumulation of capital, an economy with endogenous discounting depending on income is much more likely to experience macroeconomic fluctuations compared to an economy with constant discounting.

引用

页码：359 / 385

页数：27

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