Non-separable Utilities and Aggregate Instability
學年 108
學期 2
出版（發表）日期 2020-06-30
作品名稱 Non-separable Utilities and Aggregate Instability
作品名稱（其他語言）
著者 Been-Lon Chen; Shun-Fa Lee; Xavier Raurich
單位
出版者
著錄名稱、卷期、頁數 International Journal of Economic Theory
摘要 This paper studies an infinite-horizon two-sector growth model with sector-specific externalities and preferences that are non-separable between consumption and leisure. We find two main results. First, a larger income effect on the labor supply increases the possibility of macroeconomic instability. Second, a larger elasticity of the labor supply may increase or decrease the possibility of aggregate instability, depending on the intensity of the income effect.
關鍵字 Indeterminacy;non-separable preferences;income effect;labor supply elasticity
語言 en_US
ISSN
期刊性質 國外
收錄於 SSCI
產學合作
通訊作者
審稿制度 是
國別 JPN
公開徵稿
出版型式 ,電子版,紙本
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