Culture as a bubble

被引：19

作者：

Cozzi, G

机构：

[1] NYU, New York, NY 10003 USA

[2] Univ Rome La Sapienza, Rome, Italy

来源：

JOURNAL OF POLITICAL ECONOMY | 1998年 / 106卷 / 02期

关键词：

D O I：

10.1086/250013

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper considers an overlapping generations growth model in which "culture" is viewed as a public input in the production process of the labor efficiency units of future generations. Given the low appropriability of its beneficial effects, the market value of culture will be due to bubbles. I shall characterize the balanced growth paths associated with stationary rational bubbles on culture. Indeterminacy arises in the transition dynamics.

引用

页码：376 / 394

页数：19

共 27 条

[1]

[Anonymous], 1993, MACROECONOMICS SELF

[2] THRESHOLD EXTERNALITIES IN ECONOMIC-DEVELOPMENT [J].