MONOPOLISTIC COMPETITION, INCREASING RETURNS TO SCALE, AND THE IMPORTANCE OF PRODUCTIVITY SHOCKS

被引：62

作者：

HORNSTEIN, A

机构：

[1] University of Western Ontario, London

来源：

JOURNAL OF MONETARY ECONOMICS | 1993年 / 31卷 / 03期

关键词：

REAL BUSINESS CYCLES; PRODUCTIVITY MEASUREMENT; MONOPOLISTIC COMPETITION;

D O I：

10.1016/0304-3932(93)90050-P

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

The neoclassical growth model is extended to incorporate monopolistic competition and increasing returns to scale. Implications for the measurement of productivity change through the Solow residual are studied. It is found that for this extension productivity fluctuations continue to account for a substantial fraction of output volatility. The model cannot account for volatility of employment.

引用

页码：299 / 316

页数：18

共 23 条

[1]

BAXTER M, 1990, 245 U ROCH CTR EC RE

[2]

CHO JO, 1990, 789 QUEENS U I EC RE

[3]

CHRISTIANO L, 1990, 24 FED RES BANK MINN

[4]

COOLEY TF, 1989, AM ECON REV, V79, P733