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Recursos bibliográficos en papel y digitales -
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» Resultado: 3 registros
| Registro 1 de 3 | |
| Autor: | Benhabib, Jess - Schmitt-Grohe, Stephanie - Uribe, Martin |
| Título: | Monetary Policy and Multiple Equilibria |
| Fuente: | American Economic Review. v.91, n.1. American Economic Association |
| Páginas: | pp. 167-86 |
| Año: | Mar. 2001 |
| Resumen: | This paper characterizes conditions under which interest-rate feedback rules that set the nominal interest rate as an increasing function of the inflation rate induce aggregate instability by generating multiple equilibria. It shows that these conditions depend not only on the monetary-fiscal regime (as emphasized in the fiscal theory of the price level) but also on the way in which money is assumed to enter preferences and technology. It provides a number of examples in which, contrary to what is commonly believed, active monetary policy gives rise to multiple equilibria and passive monetary policy renders the equilibrium unique. |
| Solicitar por: | HEMEROTECA A + datos de Fuente |
| Registro 2 de 3 | |
| Autor: | Benhabib, Jess - Jovanovic, Boyan - |
| Título: | Externalities and Growth Accounting |
| Fuente: | American Economic Review. v.81, n.1. American Economic Association |
| Páginas: | pp. 82-113 |
| Año: | Mar. 1991 |
| Resumen: | This paper tackles two puzzles: the high empirical elasticity of aggregte output with respect to the measured capital input and the seemingly high variability of growth rates over countries in the medium run. We find that one need not invoke increasing returns or externalities to capital to explain these two puzzles. Rather, they are consistent with a constant-returns-to-scale aggregate production function, so long as the exogenous Solow residual process has enough persistence in it. In our model, causality runs exclusively from knowledge to capital, and therefore the apparent absence of an external effect to the capital input says nothing about the importance of spillovers in the creation of knowledge. |
| Solicitar por: | HEMEROTECA A + datos de Fuente |
| Registro 3 de 3 | |
| Autor: | Baumol, William-J - Benhabib, Jess - |
| Título: | Chaos: Significance, Mechanism, and Economic Applications |
| Fuente: | Journal of Economic Perspectives. v.3, n.1. American Economic Association |
| Páginas: | pp. 77-105 |
| Año: | winter 1989 |
| Solicitar por: | HEMEROTECA J + datos de Fuente |
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