International Productivity, Risk Sharing, Savings and Investment

国际生产力、风险分担、储蓄和投资

• 批准号: 8909898
• 负责人: Patrick Kehoe
• 金额: $ 11.3万
• 依托单位: University of Minnesota Saint Paul
• 依托单位国家: 美国
• 项目类别: Continuing Grant
• 财政年份: 1989
• 资助国家: 美国
• 起止时间: 1989-08-01 至 1992-07-31
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=8909898&HistoricalAwards=false
• 关键词: International; Productivity; Risk; Sharing; Savings

The purpose of this project is to analyze three related issues in international macroeconomics that bear on the fluctuations and long term interdependence of developed economies. The first issue concerns the international transmission of the business cycle. The analysis builds on previous research in which international fluctuations were driven by changes in international productivity. This aspect of the project will involve measuring productivity changes more accurately, which will help to shed light on the nature of productivity changes and their impact on the business cycle. The second issue concerns a striking anomaly within the existing theoretical framework: the economy produces substantially larger correlations between consumption movements than is evidenced by the data from the major industrialized countries. Several extensions of the theory will be explored including the role of tariffs and insurance markets to account for this discrepancy between theory and data. The third issue concerns the close connection between rates of saving and investment observed in industrial countries: that those that save the most typically invest the most as well. At present, most theory predicts that there should be little relation between the two and their close connection is considered one of the outstanding puzzles in international economics. This project is important because it will provide a better understanding of the way the business cycle among the major industrialized countries are linked and may suggest ways to dampen these cycles.

本课题的目的是分析三个相关问题， 国际宏观经济的波动， 发达经济体的长期相互依赖。 第一 问题涉及业务的国际传播 周期 该分析建立在以前的研究基础上， 国际波动是由 国际生产力。 该项目的这一方面将 包括更准确地衡量生产率的变化， 将有助于揭示生产力变化的性质， 对商业周期的影响。 第二个问题涉及一个 在现有的理论框架内， 经济产生了更大的相关性， 消费变动比数据所证明的要多 主要工业化国家。 理论的几个扩展 包括关税和保险的作用 市场来解释理论和数据之间的这种差异。 第三个问题是， 工业国家的储蓄和投资： 那些储蓄最多的人通常也投资最多。 在 目前，大多数理论预测， 认为两者之间的关系及其密切联系 国际经济学的一个突出难题。 这 项目很重要，因为它将提供一个更好的 了解商业周期的方式， 工业化国家之间的联系，并可能建议如何 抑制这些循环。