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タイトル
和文: 
英文:Indeterminacy in a two-sector endogenous growth model with productive government spending 
著者
和文: 胡 雲芳, 大土井涼二, 下村 耕嗣.  
英文: Yunfang Hu, Ryoji Ohdoi, Koji Shimomura.  
言語 English 
掲載誌/書名
和文: 
英文:Journal of Macroeconomics 
巻, 号, ページ vol. 30    no. 3    pp. 1104-1123
出版年月 2008年9月25日 
出版者
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会議名称
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開催地
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DOI https://doi.org/10.1016/j.jmacro.2007.07.009
アブストラクト We construct a two-sector endogenous growth model in which productive government spending is essential for sustaining an economy's long-run growth. It is shown that, like the original one-sector [Barro, R.J., 1990. Government spending in a simple model of endogenous growth. Journal of Political Economy 98, 103-125] model, the balanced growth path (BGP) equilibrium is unique under some conditions. Unlike Barro (1990), however, our two-sector framework exhibits transitional dynamics. In fact, when the intertemporal elasticity of substitution for consumption is large, around the BGP equilibrium, there is a continuum of equilibrium paths whose growth rates commonly converge to a balanced growth rate. That is, the BGP equilibrium is indeterminate.

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