Entrepreneurs, Growth and Cycles
Entrepreneurs, Growth and Cycles
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企业家、增长和周期
作者：
L. Corriveau
我阐述了一个模型的一个好的经济，长期增长和产出波动的内生后果的企业家在生产和创新之间的一个马尔可夫序列的一个时期的游戏分配他们的资源的决定。首先，我证明了产出的对数遵循一个具有随机游走特征的过程;其次，与真实的商业周期模型中的机制相反，生产率增长率的变化本身并不意味着任何衰退的发生;第三，衰退不是Kydland-Prescott（1982）对技术的负面冲击的结果，而是在企业家未能事后利用的“增加的机会”面前重新分配要素;第四，也是最后一点，尽管任何一代人都可以通过降低研究水平来单方面改善自己的状况，单一商品经济具有跨期效率，因为这一举措将意味着子孙后代福利水平的降低。
I expound a model of a one-good economy where long-run growth and output fluctuations are endogenous consequences of the decisions taken by entrepreneurs on the allocation of their resources between production and innovation in a Markovian sequence of one-period games. I show, first, that the log of output follows a process with random walk characteristics; second, that, contrarywise to the mechanism at work in Real Business Cycle models, the variability in the rate of productivity growth does not imply, by itself, the occurrence of any recession; third, that a recession is the consequence not of a Kydland-Prescott (1982) negative shock on technology, but of the reallocation of factors in the face of an 'increased opportunity' ex ante which the entrepreneurs fail to exploit ex post; fourth, and finally, that, although any generation could make itself unilaterally better off by reducing its level of research, the onegood economy is intertemporally efficient in that such a move would imply a reduction in the level of welfare of future generations.
影响因子：
6.1
作者：
PERRON, P
通讯作者：
PERRON, P