On the Existence of Balanced Growth Equilibrium
On the Existence of Balanced Growth Equilibrium
复制标题
论平衡增长均衡的存在性
DOI：
10.2307/2527415
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发表时间：
1997
影响因子：
1.5
通讯作者：
Jianbo Zhang
中科院分区：
文献类型：
--
作者：
T. Palivos;Ping Wang;Jianbo Zhang
作者描述了一类动态模型，这些模型允许最常用的持续经济增长类型（平衡和渐近平衡）。结果表明，在规模技术收益不变的条件下，（渐近）不变的贴现率和（渐近）不变的边际幸福弹性不仅是(n)（渐近）平衡增长均衡路径存在的充分必要条件，而且是充分条件。作者提供了接受(n)（渐近）平衡增长均衡的递归实用新型的例子，并讨论了它们对增长率的跨国差异以及对储蓄行为和财富分配的影响。版权归宾夕法尼亚大学经济系和大阪大学社会经济研究所协会所有。
The authors characterize the class of dynamic models that allow for the most commonly used types of sustained economic growth (balanced and asymptotically balanced). They show that, under a constant returns to scale technology, (asymptotically) constant discount rate and (asymptotically) constant elasticity of marginal felicity are not only necessary but also sufficient conditions for the existence of a(n) (asymptotically) balanced growth equilibrium path. The authors provide examples of recursive utility models that accept a(n) (asymptotically) balanced growth equilibrium and discuss their implications on cross-country differences in growth rates as well as on savings behavior and wealth distribution. Copyright 1997 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.