Oxford Review of Economic Policy, Vol. 23, No. 1, THE SOLOW GROWTH MODEL (SPRING 2007), pp. 94-114 (21 pages) In this paper, we seek to re-establish the link between the constant elasticity of ...
In micro-economic theory much room is given to the discussion of inhomogeneous production functions, or more precisely, production functions with a monotonically decreasing elasticity of scale. On the ...
It has been shown that under perfect competition and a Cobb-Douglas production function, a basic real business cycle model may exhibit indeterminacy and sunspot fluctuations when income tax rates are ...
Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation We analyse the effects of a government spending expansion in a DSGE model with Mortensen-Pissarides labour market frictions ...
This paper offers a new interpretation of the elasticity of substitution in the constant elasticity of substitution (CES) utility function under discrete choice and separability. We model an economy ...
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