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The Long and Winding Road: Social Capital and Commuting
Poulsen, Odile; Svendsen, Gert Tinggaard - Nationalökonomisk Institut, Institut for Økonomi - 2005
We develop a two-sector model to analyze which kind of social <p> organization generates trust. Social capital is de…ned as trust. We examine two <p> communities: the bedroom community in which people commute long distance <p> to work and the virility community in which people do not commute to work. <p>...</p></p></p></p>
Persistent link: https://www.econbiz.de/10005652477
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Indeterminacy and sunspots in two-sector RBC models with generalized no-income-effect preferences
Dufourt, Frédéric; Nishimura, Kazuo; Venditti, Alain - In: Journal of Economic Theory 157 (2015) C, pp. 1056-1080
function of various structural parameters. We show that local indeterminacy occurs through flip and Hopf bifurcations for a …
Persistent link: https://www.econbiz.de/10011263592
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Optimal taxation in the Uzawa-Lucas Model with externality in human capital
Gorostiaga, Arantza; Hromcová, Jana; García, Miguel … - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2011
We show that in the Uzawa-Lucas model with externality in human capital with agents that value both consumption and leisure, the government pursuing the first best can achieve its goal by subsidizing the foregone earnings while studying. The subsidy should be financed by a schooling fee. We...
Persistent link: https://www.econbiz.de/10009321869
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Welfare Implications and Equilibrium Indeterminacy in a Two-sector Growth Model with Consumption Externalities
Chen, Been-Lon; Hsu, Yu-Shan; Mino, Kazuo - Institute of Economic Research, Kyoto University - 2012
One-sector neoclassical growth models reveal that consumption externalities lead to inefficient allocation in a steady state and indeterminate equilibrium toward the steady state only if there is a labor-leisure tradeoff. This paper shows that in a two-sector neoclassical growth model, even...
Persistent link: https://www.econbiz.de/10010553129
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Welfare Implications and Equilibrium Indeterminacy in a Two-sector Growth Model with Consumption Externalities
Chen, Been-Lon; Hsu, Yu-Shan; Mino, Kazuo - Institute of Economics, Academia Sinica - 2013
In one-sector neoclassical growth models, consumption externalities lead to an inefficient allocation in a steady state and indeterminate equilibrium toward a steady state only if there is a labor-leisure tradeoff. This paper shows that in a two-sector neoclassical growth model, even without a...
Persistent link: https://www.econbiz.de/10010723448
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Indeterminancy and Government Spending in a Two-Sector Model of Endogenous Growth
Raurich, Xavier - In: Review of Economic Dynamics 4 (2001) 1, pp. 210-229
spending. In this model, we prove that the subspace of the parameter space where the equilibrium exhibits indeterminacy is … devoted to government expenditures is large, plausible fiscal policies may cause the equilibrium to exhibit indeterminacy …
Persistent link: https://www.econbiz.de/10005090966
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Indeterminacy and Sunspots in Two-Sector RBC Models with Generalized No-Income-Effect Preferences
Dufourt, Frédéric; Nishimura, Kazuo; Venditti, Alain - 2015
function of various structural parameters. We show that local indeterminacy occurs through flip and Hopf bifurcations for a …
Persistent link: https://www.econbiz.de/10011201567
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Sunspot Fluctuations in Two-Sector Models: New Results with Additively-Separable Preferences
Dufourt, Frédéric; Nishimura, Kazuo; Venditti, Alain - 2015
We analyze local indeterminacy and sunspot-driven fluctuations in the standard two-sector model with additively … corresponding parameter space. We also show that local indeterminacy can be obtained under any labor supply elasticity or under an … arbitrarily low elasticity of intertemporal substitution in consumption. On the empirical side, we find that indeterminacy and …
Persistent link: https://www.econbiz.de/10011201568
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Indeterminacy and Sunspot Fluctuations in Two-Sector RBC models: Theory and Calibration
Dufourt, Frédéric; Nishimura, Kazuo; Venditti, Alain - 2013
indeterminacy occurs through flip and Hopf bifurcations for a large set of values of the elasticity of intertemporal substitution in … indeterminacy occurs through flip and Hopf bifurcations for any value of the elasticity of the labor supply, and can even be …
Persistent link: https://www.econbiz.de/10010900227
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ENDOGENOUS EQUILIBRIUM GROWTH WITH RECURSIVE PREFERENCES AND INCREASING RETURNS
Park, Hyun - In: Journal of Economic Development 33 (2008) 2, pp. 167-188
indeterminacy of steady state equilibra. …
Persistent link: https://www.econbiz.de/10009351252