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題名 Inflation and Economic Growth in Financial Markets with Adverse Selection and Costly State Verification
通貨膨脹與經濟成長之關係探討:當金融市場面臨逆向選擇與監督成本
作者 洪福聲
Hung, Fu-Sheng
貢獻者 經濟系
關鍵詞 Inflation ; Growth ; Adverse selection ; Costly state verification ; Externality
通貨膨脹 ; 經濟成長 ; 逆向選擇 ; 監督成本 ; 外部性 ;
日期 2001-03
上傳時間 21-Nov-2018 16:15:10 (UTC+8)
摘要 The relationship between inflation and economic growth is examined in a model with adverse selection and costly state verification problems. The model shows that the interaction between both problems plays a crucial role in determining this relationship. Results are consistent with recent empirical findings whereby an increase in inflation lowers economic growth if initial inflation rates are high, but such an increase raises economic growth if initial inflation rates are low.
本文建立一個訊息不對稱模型,允許金融市場存在逆向選擇問題及投資計劃之成敗需要成本加以確認(監督成本)。在此架構之下,我們發現逆向選擇問題與監督成本的存在,對於決定一國之通貨膨脹與經濟成長的長期關係,扮演著重要的角色。模型的結果顯示,一國之通貨膨脹率與經濟成長率的關係視該國原始通貨膨脹率的大小而定。假若該國之原始通貨膨脹率低,則通貨膨脹率的增加可以促進長期的經濟成長;然而,如果原始通貨膨脹率較高,則通貨膨脹率的繼續增加會降低該國的長期經濟成長。此一結論與晚近的一些實証文獻相一致。
關聯 Academia Economic Papers,Volume 29,No.1, P67-89
資料類型 article
dc.contributor 經濟系
dc.creator (作者) 洪福聲
dc.creator (作者) Hung, Fu-Sheng
dc.date (日期) 2001-03
dc.date.accessioned 21-Nov-2018 16:15:10 (UTC+8)-
dc.date.available 21-Nov-2018 16:15:10 (UTC+8)-
dc.date.issued (上傳時間) 21-Nov-2018 16:15:10 (UTC+8)-
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/120964-
dc.description.abstract (摘要) The relationship between inflation and economic growth is examined in a model with adverse selection and costly state verification problems. The model shows that the interaction between both problems plays a crucial role in determining this relationship. Results are consistent with recent empirical findings whereby an increase in inflation lowers economic growth if initial inflation rates are high, but such an increase raises economic growth if initial inflation rates are low.en_US
dc.description.abstract (摘要) 本文建立一個訊息不對稱模型,允許金融市場存在逆向選擇問題及投資計劃之成敗需要成本加以確認(監督成本)。在此架構之下,我們發現逆向選擇問題與監督成本的存在,對於決定一國之通貨膨脹與經濟成長的長期關係,扮演著重要的角色。模型的結果顯示,一國之通貨膨脹率與經濟成長率的關係視該國原始通貨膨脹率的大小而定。假若該國之原始通貨膨脹率低,則通貨膨脹率的增加可以促進長期的經濟成長;然而,如果原始通貨膨脹率較高,則通貨膨脹率的繼續增加會降低該國的長期經濟成長。此一結論與晚近的一些實証文獻相一致。zh_TW
dc.format.extent 522414 bytes-
dc.format.mimetype application/pdf-
dc.relation (關聯) Academia Economic Papers,Volume 29,No.1, P67-89
dc.subject (關鍵詞) Inflation ; Growth ; Adverse selection ; Costly state verification ; Externalityen_US
dc.subject (關鍵詞) 通貨膨脹 ; 經濟成長 ; 逆向選擇 ; 監督成本 ; 外部性 ;zh_TW
dc.title (題名) Inflation and Economic Growth in Financial Markets with Adverse Selection and Costly State Verificationen_US
dc.title (題名) 通貨膨脹與經濟成長之關係探討:當金融市場面臨逆向選擇與監督成本zh_TW
dc.type (資料類型) article