تقرير
Business cycle fluctuations and learning-by-doing externalities in a one-sector model
| العنوان: | Business cycle fluctuations and learning-by-doing externalities in a one-sector model |
|---|---|
| المؤلفون: | d'Albis, Hippolyte, Augeraud-Véron, Emmanuelle, Venditti, Alain |
| المساهمون: | Economie des Ressources Naturelles (LERNA), Université Toulouse Capitole (UT Capitole), Université de Toulouse (UT)-Université de Toulouse (UT)-Institut National de la Recherche Agronomique (INRA)-Commissariat à l'énergie atomique et aux énergies alternatives (CEA), Mathématiques, Image et Applications - EA 3165 (MIA), La Rochelle Université (ULR), Groupement de Recherche en Économie Quantitative d'Aix-Marseille (GREQAM), École des hautes études en sciences sociales (EHESS)-Aix Marseille Université (AMU)-École Centrale de Marseille (ECM)-Centre National de la Recherche Scientifique (CNRS) |
| المصدر: | https://shs.hal.science/halshs-00432267Test ; 2009. |
| بيانات النشر: | HAL CCSD |
| سنة النشر: | 2009 |
| المجموعة: | HAL-CEA (Commissariat à l'énergie atomique et aux énergies alternatives) |
| مصطلحات موضوعية: | One-sector infinite-horizon model, learning-by-doing externalities, inelastic labor, business cycle fluctuations, Hopf bifurcation, [SHS.ECO]Humanities and Social Sciences/Economics and Finance |
| الوصف: | We consider a one-sector Ramsey-type growth model with inelastic labor and learning-by-doing externalities based on cumulative gross investment (cumulative production of capital goods), which is assumed, in accordance with Arrow [5], to be a good index of experience. We prove that a slight memory effect characterizing the learning-by-doing process is enough to generate business cycle fluctuations through a Hopf bifurcation. This is obtained for reasonable parameter values, notably for both the elasticity of output with respect to the externality and the elasticity of intertemporal substitution. Hence, contrary to all the results available in the literature on aggregate models, we show that endogenous fluctuations are compatible with a low (in actual fact, zero) wage elasticity of the labor supply. |
| نوع الوثيقة: | report |
| اللغة: | English |
| العلاقة: | halshs-00432267; https://shs.hal.science/halshs-00432267Test; https://shs.hal.science/halshs-00432267/documentTest; https://shs.hal.science/halshs-00432267/file/DT2009-25.pdfTest |
| الإتاحة: | https://shs.hal.science/halshs-00432267Test https://shs.hal.science/halshs-00432267/documentTest https://shs.hal.science/halshs-00432267/file/DT2009-25.pdfTest |
| حقوق: | info:eu-repo/semantics/OpenAccess |
| رقم الانضمام: | edsbas.82639A21 |
| قاعدة البيانات: | BASE |
| الوصف غير متاح. |