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首页> 外文期刊>Macroeconomic dynamics >ENDOGENOUS BUSINESS CYCLES IN OVERLAPPING-GENERATIONS ECONOMIES WITH MULTIPLE CONSUMPTION GOODS
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ENDOGENOUS BUSINESS CYCLES IN OVERLAPPING-GENERATIONS ECONOMIES WITH MULTIPLE CONSUMPTION GOODS

机译：多种消费品重叠产生的经济中的内生业务周期

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摘要

We consider an overlapping-generations economy with two consumption goods. There are two sectors that produce a pure consumption good and a mixed good that can be either consumed or used as capital. We prove that the existence of Pareto-optimal expectations-driven fluctuations is compatible with standard sectoral technologies if the share of the pure consumption good is low enough. Following Reichlin's [Journal of Economic Theory 40 (1986), 89-102] influential conclusion, this result suggests that some fiscal policy rules can prevent business-cycle fluctuations in the economy by driving it to the optimal steady state as soon as they are announced.
机译：我们考虑具有两种消费品的世代重叠经济。有两个部门可以生产纯消费品和可以消费或用作资本的混合品。我们证明，如果纯消费品的份额足够低，则帕累托最优期望驱动的波动的存在与标准部门技术兼容。根据Reichlin的[Journal of Economic Theory 40（1986），第89-102页]的有影响力的结论，该结果表明，某些财政政策规则可以在宣布经济周期后尽快将其驱动至最佳稳态，从而防止经济周期波动。 。

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