...
首页> 外文期刊>Metroeconomica >An evolutionary growth model with banking activity
【24h】

An evolutionary growth model with banking activity

机译:银行活动进化生长模型

获取原文
获取原文并翻译 | 示例
           

摘要

Abstract In this paper, we propose an evolutionary growth model in which an innovative production sector interacts with a simplified banking sector. We explore the relationships between long‐term sources of growth (technological change) and short‐term/mid‐term factors (such as price dynamics and interest rates). The model suggests new explanations for the endogenous emergence of sharp crises with profound effects in the long run. An interesting aspect of the model is that these crises appear in a strictly private economy, in which everything produced is sold, and there are neither government distortions nor exogenous shocks. The crises emerge from the interactions between uneven innovation rates and market reactivity. In fact, high reactivity in financial markets can amplify the (initially small) effects of innovative competition, leading to a destabilization of economic growth. Drawing on the results of the model we suggest some policy implications.
机译:摘要在本文中,我们提出了一种进化的生长模型,其中创新的生产部门与简化的银行业互动。我们探讨长期增长(技术变革)和短期/中期因素之间的关系(如价格动态和利率)。该模型表明,在长期奔跑中对夏普危机的内生出现的新解释。该模型的一个有趣方面是这些危机出现在严格的私营经济中,其中销售的一切都销售,既没有政府扭曲也没有外源冲击。危机从不均匀创新率和市场反应性之间的相互作用中出现。事实上,金融市场的高反应性可以放大创新竞争的(最初小的)影响,导致经济增长的稳定化。绘制模型的结果我们建议一些政策影响。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱:kefu@zhangqiaokeyan.com

京公网安备:11010802029741号 ICP备案号:京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有
  • 客服微信

  • 服务号