Price stability and the inter-industry propagation of stochastic impulse : formulating dynamic price equation and an application of the langevin equation

Material type: 文書・図像類

Author: 早見, 均

Publisher: Keio Economic Observatory

Publication date: 2001-07

Material Format: Digital

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Note (General)：: type:textDynamic price equation has a feedback effect from the capital gain/loss ofits user's cost of capital. Hayami[1993] developed the model which ...

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Material Type: 文書・図像類
Title: Price stability and the inter-industry propagation of stochastic impulse : formulating dynamic price equation and an application of the langevin equation
Author/Editor: 早見, 均
Author Heading: 早見, 均
Publication, Distribution, etc.: Keio Economic Observatory
Publication Date: 2001-07
Publication Date (W3CDTF): 2001-07
Periodical title: KEO discussion paper
No. or year of volume/issue: 62
Volume: 62
Text Language Code: eng
Subject Heading: Propagation,Im pulse,Capital goods,Price equation,Nonlinearity,Multi-sectoral,Total factor productivity
Target Audience: 一般
Note (General): type:text
Dynamic price equation has a feedback effect from the capital gain/loss ofits user's cost of capital. Hayami[1993] developed the model which endogenouslydetermines the capital goods prices, and this paper investigates moregeneral characteristics of the system,and extends it into incorporating stochasticfluctuation due to the total factor productivity(TFP).The latter extension tostochastic system has been developed by Hayami [1999]. In a deterministicmodel, the system's stability depends on the degree of out-sourcing of capitalgoods, relatively higher out-sourcing causes the system into saddle point equilibrium.This paper presents all the possible steady states in the dynamic priceequation, and draws their phase portraits.
DOI: 10.14991/004.00000062-0001
Access Restrictions: 限定公開
Data Provider (Database): 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）
https://irdb.nii.ac.jp
Original Data Provider (Database): 慶應義塾大学 : 慶應義塾大学学術情報リポジトリ