タイトル（掲載誌）Institute of Social and Economic Research Discussion Papers
一般注記This research is the Örst to examine dynamic general equilibrium in a growing two-country economy under decreasing marginal impatience (DMI). The stability condition is shown to be more restrictive than in the case of an endowment economy and/or under increasing marginal impatience (IMI). By analyzing global-economy adjustment to time preference shocks, international transfers, and productivity shocks, equilibrium dynamics in the presence of DMI di§er drastically from what is obtained when the standard IMI model is used. For example, in a country characterized by DMI, a positive productivity shock improves the countryís welfare level and lowers its steady-state time preference and, hence, the steady-state interest rate. This leads to an increase in the neighboring countryís capital stock.
連携機関・データベース国立情報学研究所 : 学術機関リポジトリデータベース（IRDB）（機関リポジトリ）