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https://ah.lib.nccu.edu.tw/handle/140.119/113122
題名: | Fiscal Stimulus and Endogenous Firm Entry in a Monopolistic Competition Macroeconomic Model | 作者: | 賴景昌 Chang, Cheng-Wei Lai, Ching-Chong Chang, Juin-Jen |
貢獻者: | 經濟學系 | 日期: | Jun-2018 | 上傳時間: | 22-Sep-2017 | 摘要: | This paper sets up a monopolistic competition model featuring the returns to production specialization. Some novel results are derived from the analysis. First, the effect of a fiscal stimulus on consumption may be positive or negative, depending crucially upon whether the production function is characterized by increasing or decreasing returns to production specialization. Second, following a fiscal expansion, increasing returns to specialization lead to a positive linkage between real wages and aggregate output, while decreasing returns to specialization result in a negative relationship between real wages and aggregate output. Third, a fiscal expansion may raise social welfare, provided that the degree of increasing returns to production specialization is sufficiently large. | 關聯: | JAPANESE ECONOMIC REVIEW, 69(2), 207-225 | 資料類型: | article | DOI: | http://dx.doi.org/10.1111/jere.12155 |
Appears in Collections: | 期刊論文 |
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