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Dynamic Analysis of Policy Effects in Monopolistically Competitive Economies

垄断竞争经济体政策效应的动态分析

基本信息

批准号：
10630010
负责人：
MINO Kazuo
金额：
$ 0.9万
依托单位：
Kobe University
依托单位国家：
日本
项目类别：
Grant-in-Aid for Scientific Research (C)
财政年份：
1998
资助国家：
日本
起止时间：
1998 至 1999
项目状态：
已结题

项目摘要

The results obtained in this research project may be summarized as follows :1.Indeterminacy and complex behavior of the dynamic economies with imperfect markets :In order to clarify the policy effects in dynamic, monopolistically competitive economies, I have first tried to investigate the dynamic behavior of economies with imperfect markets. In Articles #2 and #4 (see REFERENCES), I derive the conditions under which indeterminacy of equilibrium holds in two sector models of endogenous growth with or without social increasing returns. These papers demonstrate that the presence of social increasing, which has been considered a necessary condition for generating indeterminacy, may not be required to hold indeterminacy in two-sector models.In Article #3, I explored some economic implications of indeterminacy of equilibrium in growth models.2.Optimal policies in dynamic economies with imperfect competition.Based on research results mentioned above, I have inspected various policy effects i … More n dynamic economies with imperfect competition. Article #1 investigated the optimal patent policy in an endogenously growing economy with R&D investment. I (with co-authors, Koichi Futagami and Ysushi Ohkusa) demonstrated that there exists a finite, welfare maximizing patent length so that unlimited patent protection may be harmful from the social welfare viewpoint. In Article #6, I studied the dynamic optimal taxation under increasing returns. The main results of this study show that capital income taxation should be negative in the steady state. However, it is also shown that this conclusion is sensitive to the policy rule (i.e. open-loop vs. feedback) adopted by the fiscal authority.Finally, Article #5 studies growth and welfare effects of money supply policy in an overlapping generation's economy. I (and co-author, Akihisa Shibata) analyzed the presence of Parato improving monetary policy under alternative policy rules. This paper also demonstrated that indeterminacy of equilibria might exist if money growth is endogenously determined according to the government budget constraint. Less

本研究项目取得的成果可概括如下： 1.市场不完善的动态经济体的不确定性和复杂行为：为了阐明动态的垄断竞争经济体的政策效应，我首先尝试研究市场不完善的经济体的动态行为。在文章#2 和#4 中（参见参考文献），我推导了在有或没有社会递增回报的两个内生增长部门模型中均衡不确定性成立的条件。这些论文表明，社会增长的存在被认为是产生不确定性的必要条件，但在两部门模型中可能不需要保持不确定性。在第3条中，我探讨了增长模型中均衡不确定性的一些经济影响。2.不完全竞争动态经济中的最优政策。基于上述研究结果，我考察了动态经济中的各种政策效应……更多不完全竞争。第 1 条研究了具有研发投资的内生增长经济中的最优专利政策。我（与合著者 Koichi Futagami 和 Ysushi Ohkusa）证明，存在有限的、福利最大化的专利长度，因此从社会福利的角度来看，无限制的专利保护可能是有害的。在第六条中，我研究了收益递增情况下的动态最优税收。本研究的主要结果表明，稳定状态下资本所得税应为负。然而，研究也表明，这一结论对财政当局采用的政策规则（即开环与反馈）很敏感。最后，第5条研究了货币供应政策在重叠代经济中的增长和福利效应。我（和合著者柴田明久）分析了帕拉托在替代政策规则下改善货币政策的情况。本文还证明，如果货币增长是根据政府预算约束内生决定的，则可能存在均衡的不确定性。较少的