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作者：Gomis-Porqueras, P
作者单位：University of Texas System; University of Texas Austin
摘要：Many economics restrict-and in some cases, severely restrict-the access of poor agents to savings opportunities. This paper suggests conditions under which there are good reasons to do so, from the perspective of all agents-including the poor. (C) 2001 Academic Press.
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作者：Boldrin, M; Nishimura, K; Shigoka, T; Yano, M
作者单位：University of Minnesota System; University of Minnesota Twin Cities; Kyoto University; Kyoto University; Keio University
摘要：We study a class of two-sector endogenous growth models in the presence of a positive external effect. The class of models exhibits global indeterminacy of equilibria. The qualitative properties of a set of examples are analyzed by means of analytical and numerical methods. We also construct robust examples of both topological and ergodic chaos. Journal of Economic Literature Classification Numbers: E30, O41. (C) 2001 Academic Press.
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作者：Temzelides, T; Williamson, SD
作者单位：University of Iowa
摘要：The First setup we study is a deterministic model with spatial separation where we consider alternative payments systems institutions and their implications for allocation and welfare. A payments system with period-by-period settlement in outside money improves on decentralized exchange. An efficient allocation is supported by a payments system where settlement is not imposed. In the second model, there is random matching and unobserved productivity shocks and preference shocks, We explore how...
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作者：Mitra, T; Nishimura, K
作者单位：Cornell University; Kyoto University
摘要：This paper provides an overview of the basic concepts of intertemporal equilibrium theory, and discusses the frameworks and techniques used in this subject. It then goes on to introduce the main themes discussed in the papers included in this symposium issue. Journal of Economic Literature Classification Numbers: C61, D90, O41. (C) 2001 Academic Press.
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作者：Antinolfi, G; Keister, T; Shell, K
作者单位：Washington University (WUSTL); Universidad Nacional Autonoma de Mexico; Instituto Tecnologico Autonomo de Mexico; Cornell University
摘要：We investigate the dependence of the dynamic behavior of an endogenous growth model on the degree of returns to scare. We focus on a simple (but representative) growth model with publicly funded inventive activity. We show that constant returns to reproducible Factors (the leading case in the endogenous growth literature) is a bifurcation point, and that it has the characteristics of a transcritical bifurcation. The bifurcation involves the boundary of the state space, making it difficult to f...
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作者：Bala, V; Sorger, G
作者单位：McGill University; University of London; Queen Mary University London
摘要：We develop an overlapping generations model of human capital accumulation and analyze its spatial and temporal properties. The interplay between local spillovers of human capital and global market participation partitions the society into socio-economic classes. We focus upon stationary equilibria and show that a large class of them are locally stable. Stationary equilibria can be homogeneous (where the human capital distribution is degenerate) or stratified (with a distinct spatial pattern of...
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作者：Mitra, T
作者单位：Cornell University
摘要：This paper provides an easily verifiable sufficient condition for topological chaos for unimodal maps which can be satisfied when the well-known Li-Yorke condition is not satisfied. It then shows how this result can be applied to a model of endogenous growth with externalities to establish the existence of chaotic equilibrium growth paths in that framework. Journal of Economic Literature Classification Numbers: C61, D90, O41. (C) 2001 Academic Press.
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作者：Antinolfi, G; Huybens, E; Keister, T
作者单位：Washington University (WUSTL); The World Bank; Instituto Tecnologico Autonomo de Mexico
摘要：We evaluate the desirability of having an elastic currency generated by a lender of last resort that prints money and lends it to banks in distress. When banks cannot borrow, the economy has a unique equilibrium that is not Pareto optimal. The introduction of unlimited borrowing at a zero nominal interest rate generates a steady state equilibrium that is Pareto optimal. However, this policy is destabilizing in the sense that it also introduces a continuum of nonoptimal inflationary equilibria....
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作者：Burdett, K; Trejos, A; Wright, R
作者单位：University of Pennsylvania; University of Essex
摘要：We study how commodities emerge as money, the way cigarettes did in POW camps. We characterize how specialization, trading frictions, intrinsic properties of goods, and the amount of flat money determine whether a commodity serves as money and its value. In some equilibria, the exchange value of commodity money is pinned down by its consumption value: in others, it is not. The value of flat money may or may not be pinned down by commodity money. In some equilibria, the total (Fiat plus commodi...
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作者：Nourry, C; Venditti, A
作者单位：Aix-Marseille Universite
摘要：We study the determinacy of perfect foresight equilibrium near a steady state in an overlapping generations model with production and both altruistic and non-altruistic agents having distinct utility functions. The proportion of each type of consumer is exogenously given. Our main results show that when there are positive stationary bequests, some standard assumptions on preferences and technology rule out local indeterminacy for any positive value of the proportions. In the particular case of...
