G2TT
来源类型Discussion paper
规范类型论文
来源IDDP3883
DP3883 Freidman's Money Supply Rule versus Optimal Interest Rate Policy
Seppo Honkapohja; George W. Evans
发表日期2003-05-23
出版年2003
语种英语
摘要We study a two?sector version of the neoclassical growth model with coalitions of factor suppliers in the capital producing sectors. We show that if the coalitions have monopoly rights, then they block the adoption of the efficient technology. We also show that blocking leads to a decrease in the productivity of each capital producing sector and to an increase in the relative price of capital; as a result capital stock and production fall in each sector. We finally show that the implied fall in the level of per capita income can be large quantitatively.
主题International Macroeconomics
关键词Capital accumulation Monopoly rights Technology adoption Total factor productivity Vasted interests
URLhttps://cepr.org/publications/dp3883
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/532870
推荐引用方式
GB/T 7714
Seppo Honkapohja,George W. Evans. DP3883 Freidman's Money Supply Rule versus Optimal Interest Rate Policy. 2003.
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