Endogenous Volatility, Endogenous Growth, and Large Welfare Gains from Stabilization Policies
نویسندگان
چکیده
منابع مشابه
Volatility, Growth, and Large Welfare Gains from Stabilization Policies
This paper proposes a simple endogenous-uctuations growth model to show: 1) long-run growth and short-run uctuations can be intimately linked; in particular, the rate of long-run growth can be negatively a¤ected by volatilities; 2) imperfect competition can cause endogenous uctuations, and it reduces not only the level of output but also its mean growth rate by amplifying the volatility of t...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2007
ISSN: 1556-5068
DOI: 10.2139/ssrn.1012124