| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3883 |
| 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 |
| URL | https://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. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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