| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1082 |
| DP1082 Unemployment Persistence: Does the Size of the Shock Matter? | |
| Gylfi Zoega | |
| 发表日期 | 1994-12-31 |
| 出版年 | 1994 |
| 语种 | 英语 |
| 摘要 | We analyse the implications for the dynamics of capital accumulation of market power and endogenous demand elasticities, in an environment in which the latter are affected by the number of competitors in each industry. In equilibrium the interest rate increases as capital accumulates, even though the marginal product of capital is constant. Under standard assumptions both a steady-state and a balanced growth path exist, and the possibility of multiple equilibrium paths (for given initial conditions) arises. It is argued that the latter feature matches several empirical observations. |
| 主题 | International Macroeconomics |
| 关键词 | Endogenous growth Endogenous mark-ups Multiple equilibria |
| URL | https://cepr.org/publications/dp1082 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530227 |
| 推荐引用方式 GB/T 7714 | Gylfi Zoega. DP1082 Unemployment Persistence: Does the Size of the Shock Matter?. 1994. |
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