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作者：Byrne, MM
作者单位：Baylor College of Medicine
摘要：Potential conflicts between economic growth and environmental degradation are central to the sustainable development debate. An endogenous growth model is used to investigate tradeoffs between economic growth and environmental quality, where growth is dependent on technology improvements, emissions are generated during final goods production, and physical resources can be used to abate pollution. Pollution growth is higher in a decentralized economy, but technology growth rates can not be rank...
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作者：Flood, R; Marion, N
作者单位：International Monetary Fund; Dartmouth College
摘要：In this paper, we consider a policymaker in a stochastic environment who pegs the nominal exchange rate and adjusts the peg periodically so as to minimize the flow cost of real exchange-rate misalignment and the fixed cost of peg readjustment. Characterizing the real exchange rate as regulated Brownian motion permits the policymaker's problem to be solved for the optimal size and timing of devaluations. Using cross-sectional data on 80 peg episodes from seventeen Latin American countries over ...
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作者：Mendoza, EG
作者单位：Duke University
摘要：This paper examines a stochastic endogenous growth model in which terms-of-trade uncertainty affects savings and growth. The model explains the well-known positive link between growth and the mean rate of change of terms of trade,and predicts also that terms-of-trade variability affects growth. Increased terms-of-trade variability results in faster or slower growth depending on the degree of risk aversion, but in either case it reduces social welfare. These growth effects imply that welfare co...
