| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3949 |
| DP3949 Recursive Preferences and Balanced Growth | |
| Roger Farmer; Amartya Lahiri | |
| 发表日期 | 2003-06-23 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | This Paper derives new results on the effects of employing Taylor rules in economies that are subject to real-market imperfections such as production externalities. It suggests that rules that should be avoided (chosen) in perfect-markets environments do in fact ensure (yield) unique (multiple) rational expectations solutions in alternative settings. Therefore, exact knowledge on the degree of market imperfection is pivotal for robust policy advice. |
| 主题 | International Macroeconomics |
| 关键词 | Indeterminacy Increasing returns-to-scale Taylor rules Cash-in-advance economies |
| URL | https://cepr.org/publications/dp3949 |
| 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/532931 |
| 推荐引用方式 GB/T 7714 | Roger Farmer,Amartya Lahiri. DP3949 Recursive Preferences and Balanced Growth. 2003. |
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