On Macroeconomic Equilibrium with Stochastic Rationing
On Macroeconomic Equilibrium with Stochastic Rationing
复制标题
论随机配给的宏观经济均衡
DOI：
10.2307/3439793
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发表时间：
1985
期刊：
影响因子：
--
通讯作者：
Takatoshi Ito
中科院分区：
文献类型：
--
作者：
S. Honkapohja;Takatoshi Ito
本文的目的是将随机配给机制的思想应用于简单的非均衡宏观经济模型。事实证明，随机配给的有效需求，与来自确定性约束的有效需求（克洛尔-贝纳西或德雷兹有效需求）相反，与预期效用的最大化是一致的，并且也能够在数量受限的均衡中产生未满足的需求和供给。众所周知的数量受限均衡的制度分类，即凯恩斯主义失业、古典失业、抑制通货膨胀和消费不足，被证明与随机配给的宏观经济框架相关。计算出不同制度下数量约束平衡的比较静态。
The purpose of this paper is to apply the ideas of stochastic rationing mechanisms to a simple disequilibrium macroeconomic model. It has been shown that effective demands with stochastic rationing, as opposed to those derived from deterministic constraints (the Clower-Benassy or Dreze effective demand), are consistent with the maximization of expected utility, and are also capable of producing unsatisfied demand and supply in a quantity-constrained equilibrium. The well-known regime classification of quantity-constrained equilibria, i.e., Keynesian unemployment, classical unemployment, repressed inflation and underconsumption, is shown to be relevant in a macroeconomic framework with stochastic rationing. Comparative statics of quantity-constrained equilibria are worked out for different regimes.