登入選單
返回Google圖書搜尋
其他書名
Inequalities and Fluctuations in a Dynamic General Equilibrium Model
出版SSRN, 2001
URLhttp://books.google.com.hk/books?id=yTzbzwEACAAJ&hl=&source=gbs_api
註釋In the present paper a tractable two-sector neo-classical growth model with heterogeneous agents is considered. The local dynamic properties of the equilibrium path are analyzed in relation with the underlying characteristics of the economy. In particular, the existence of fluctuations is related to the degree of heterogeneity in labor and in capital endowments. When applied to international trade theory, the analysis shows that free trade may distabilize a world economy that is originally stable under the regime of autarky. Keywords and Phrases: Two-sector growth, General equilibrium, Heterogeneity, Stability of steady states, Fluctuations, Inequalities, International trade, Turnpike.