Optimal intervention policies for a small monetary economy
Publication in refereed journal


香港中文大学研究人员 ( 现职)

叶创基教授 (经济学系)

全文

数位物件识别号 (DOI) http://dx.doi.org/10.1007/s00712-006-0187-5

引用次数
Web of Sciencehttp://aims.cuhk.edu.hk/converis/portal/Publication/1WOS source URL

其它资讯

摘要We analyze the gains from trade for a small cash-in-advance economy with endogenous labor supply and learning-by-doing in the accumulation of human capital. Contrary to previous findings, we show that free trade is not optimal independently of the relative amount of cash required for the purchase of each good. Furthermore, a monetary rule a la Friedman can eliminate distortions deriving from the cash-in-advance constraint only under segmented financial markets; in any case, it cannot restore the economic optimum. Finally, we identify government intervention policies, such as wage and export subsidies, that can be welfare improving.

着者Palivos T, Yip CK
期刊名称JOURNAL OF ECONOMICS
出版年份2006
月份6
日期http://aims.cuhk.edu.hk/converis/portal/Publication/1
卷号88
期次http://aims.cuhk.edu.hk/converis/portal/Publication/1
出版社SPRINGER WIEN
页次69 - 85
国际标準期刊号093http://aims.cuhk.edu.hk/converis/portal/Publication/1-8658
电子国际标準期刊号http://aims.cuhk.edu.hk/converis/portal/Publication/16http://aims.cuhk.edu.hk/converis/portal/Publication/17-7http://aims.cuhk.edu.hk/converis/portal/Publication/134
语言英式英语

关键词endogenous labor-leisure choice; learning-by-doing; optimal trade policies
Web of Science 学科类别Business & Economics; Economics; ECONOMICS