Basic Stochastic Dynamic Systems of Growth and Trade
Basic Stochastic Dynamic Systems of Growth and Trade
复制标题
增长和贸易的基本随机动态系统
DOI：
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发表时间：
1999
期刊：
影响因子：
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通讯作者：
Chunyan Wang
中科院分区：
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作者：
Bjarne S. Jensen;Chunyan Wang
不确定性是动态经济系统的内在特征，本文考虑了要素禀赋（劳动力、资本）不确定性对小规模增长贸易经济的动态影响。本文提出的随机增长模型将开放的新古典两部门增长模型（Deardorff）扩展到连续时间的随机环境，并将单部门增长模型（Merton; Bourguignon）的扩散动力学扩展到贸易两部门经济。证明了在一定的规范和参数约束下，确定性稳态增长和内生增长理论的基本命题在随机框架内是成立的。版权所有1999年由布莱克韦尔出版有限公司。
Uncertainties are intrinsic features of dynamic economic systems, and this paper considers the dynamic implications of factor endowment (labor, capital) uncertainties for a small growing trading economy. The stochastic growth models presented extend the open neoclassical two-sector growth model (Deardorff) to a stochastic environment in continuous time, and extend the diffusion dynamics of one-sector growth models (Merton; Bourguignon) to a trading two-sector economy. It is demonstrated that the basic propositions of deterministic steady-state growth and endogenous growth theory, under some specifications and certain parametric restrictions, are preserved within a stochastic framework. Copyright 1999 by Blackwell Publishing Ltd.