DYNAMIC (S,S) ECONOMIES

被引：91

作者：

CABALLERO, RJ ^{[1
]}

ENGEL, EMRA ^{[1
]}

机构：

[1] MIT,DEPT ECON,CAMBRIDGE,MA 02139

来源：

ECONOMETRICA | 1991年 / 59卷 / 06期

关键词：

(S; S); POLICY; IDIOSYNCRATIC SHOCKS; HETEROGENEITY; AGGREGATION; SYNCHRONIZATION; CONVERGENCE; SPEED OF CONVERGENCE;

D O I：

10.2307/2938284

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In this paper we provide a framework to study the aggregate dynamic behavior of an economy where individual units follow (S,s) policies. We characterize structural and stochastic heterogeneities that ensure convergence of the economy's aggregate to that of its frictionless counterpart, determine the speed at which convergence takes place, and describe the transitional dynamics of this economy.

引用

页码：1659 / 1686

页数：28

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