J Benhabib… - Journal of Monetary economics, 1994 - Elsevier
Abstract Using cross-country estimates of physical and human capital stocks, we run the
growth accounting regressions implied by a Cobb-Douglas aggregate production function.
Our results indicate that human capital enters insignificantly in explaining per capita ...
J Benhabib… - Journal of Economic Theory, 1994 - econ.nyu.edu
ABSTRACT We investigate the properties of the one sector growth model with increasing
returns. Two possible organizational structures are provided, each of which is capable of
reconciling the existence of increasing returns in the aggregate technology with ...
J Benhabib, R Rogerson… - Journal of Political economy, 1991 - JSTOR
This paper explores some macroeconomic implications of including household production in
an otherwise standard real business cycle model. We calibrate the model on the basis of
macroeconomic evidence and long-run considerations, simulate it, and examine its ...
WJ Baumol… - The journal of economic perspectives, 1989 - JSTOR
I magine a bargaining model (say, involving diplomats negotiating tariff levels or a
disarmament treaty) in which each party has been instructed by higher headquarters to
respond to each new offer by her opposite number with a counteroffer that is to be ...
J Benhabib… - Handbook of economic growth, 2005 - Elsevier
Abstract This paper generalizes the Nelson–Phelps catch-up model of technology diffusion.
We allow for the possibility that the pattern of technology diffusion can be exponential, which
would predict that nations would exhibit positive catch-up with the leader nation, or logistic ...
J Benhabib… - Handbook of macroeconomics, 1999 - Elsevier
Abstract This chapter gives an overview of the recent literature on indeterminacy and
sunspots in macroeconomics. It discusses of some of the conceptual and the technical
aspects of this literature, and provides a simple framework for illustrating the mechanisms ...
This paper characterizes conditions under which interest-rate feedback rules that set the
nominal interest rate as an increasing function of the inflation rate induce aggregate
instability by generating multiple equilibria. It shows that these conditions depend not only ...
B Jess… - Journal of Economic Theory, 1994 - Elsevier
Abstract In this paper we study the dynamics of endogenous growth, both in the model of
Lucas and in a generalization that incorporates a labor–leisure choice. We characterize the
regions of the parameter space that give rise to unique equilibria as well as the regions ...
J Benhabib… - Journal of Economic Growth, 1996 - Springer
Despite the predictions of the neoclassical theory of economic growth, we observe that poor
countries have invested at lower rates and have not grown faster than rich countries. To
explain these empirical regularities we provide a game-theoretic model of conflict ...
Since John Taylor's (1993, Carnegie–Rochester Conf. Ser. Publ Policy39, 195–214),
seminal paper, a large literature has argued that active interest rate feedback rules, that is,
rules that respond to increases in inflation with a more than one-for-one increase in the ...
J Benhabib… - Journal of Monetary Economics, 1996 - Elsevier
We introduce mild increasing returns-to-scale into a version of the Real Business Cycle
model. These increasing returns-to-scale occur as a consequence of sector-specific
externalities, that is externalities where the output of the consumption and investment ...
J Benhabib… - Journal of Economic Theory, 1985 - Elsevier
Abstract Sufficient conditions on the structure of technology that give rise to robust periodic
cycles in stocks, outputs, and relative prices in a stationary, fully competitive economy with
an infinitely lived representative agent are given. The results are first derived in the context ...
J Benhabib… - Journal of Economic Dynamics and Control, 1982 - Elsevier
Abstract In this paper we characterize and give examples o ('wide classes of utility functions
which generate erratic dynamics in the standard, deterministic, overlapping generations
model. Erratic dynamics refers to feasible trajectories which are bounded but which do not ...
J Benhabib… - Journal of Economic Theory, 1979 - Elsevier
Abstract It is shown that under very general circumstances, the standard optimal growth
model with two or more capital goods can give rise to optimal trajectories that are limit
cycles. An example with a nonjoint production Cobb-Douglass technology giving rise to ...
J Benhabib… - Journal of Economic Growth, 2000 - Springer
Thisarticle decomposes the well-documented relationship between financialdevelopment
and growth. We examine whether financial developmentaffects growth solely through its
contribution to growth in``primitives''or factor accumulation rates or whether it alsohas a ...
J Benhabib - European Economic Review, 1996 - Elsevier
EUROPEAN ECONOMIC REVIEW ELSEVIER European Economic Review 40 (1996)
1737-1743 On the political economy of immigration Jess Benhabib New York University, Department
of Economics, 269 Mercer Street, 7th Floor, New York, NY 10003, USA Received 15 ...
J Benhabib… - The Review of Economic Studies, 1981 - JSTOR
In this paper we show that rational choice in a stationary environment can lead to erratic
behaviour when preferences depend on experience. We mean by erratic behaviour choice
sequences that do not converge to a long-run stationary value or to any periodic pattern. ...
Once the zero bound on nominal interest rates is taken into account, Taylor-type interest rate
feedback rules give rise to unintended self-fulfilling decelerating inflation paths and
aggregate fluctuations driven by arbitrary revisions in expectations. These undesirable ...
J Benhabib… - Nonlinear Dynamics in Equilibrium Models, 2012 - Springer
Recently there has been a renewed interest in the possibility of indeterminacy and sunspots,
or alternatively put, in the existence of a continuum of equilibria that arises in dynamic
economies with some market imperfections. Much of the research in this area has been ...
J Benhabib… - 1989 - nber.org
ABSTRACT We reexamine several bodies of data on the growth of output, labor, and capital,
within the context of a model that admits the possibility of an externality to the capital input.
The model is an augmented version of Paul Romer's (1987) reformulation of the Solow ...
J Benhabib… - Journal of Economic Theory, 1991 - Elsevier
Abstract We study the dynamics of growth and investment in a continuous time model with
vintage capital. Vintage capital models may be characterized by non-exponential rates of
depreciation and technical change and can incorporate “gestation lags” as well as “ ...
J Benhabib… - Games and Economic Behavior, 2005 - Elsevier
We provide a new model of consumption–saving decisions which explicitly allows for
internal commitment mechanisms and self-control. Agents have the ability to invoke either
automatic processes that are susceptible to the temptation of 'over-consuming,'or ...
J Benhabib… - Economic Theory, 1992 - Springer
Summary In the present paper we explore the set of equilibria in a game-theoretic model in
which players can jointly exploit a productive asset. As in repeated games, we find that
under certain circumstances there may be efficient as well as inefficient equilibria. In the ...
J Benhabib - 1992 - books.google.com
In recent years economists have begun to use the techniques of non-linear dynamics to
show that some apparently erratic and turbulent economic phenomena reflect subtle
underlying patterns. How do cyclic and chaotic dynamics arise in economic models of ...
J Benhabib, R Perli… - Ricerche Economiche, 1994 - Elsevier
Summary In this paper we analyse the dynamics of both Romer's original model of
endogenous growth and of a modified version where the level of labour and human capital
are determined endogenously. We find that the original model can have an indeterminate ...
J Benhabib, Q Meng… - Econometrica, 2000 - Wiley Online Library
RECENTLY THERE HAS BEEN a renewed interest in indeterminacy, or alternatively put, in
the existence of a continuum of equilibria in dynamic economies that exhibit some market
imperfections. 2 One of the primary concerns of this literature has been the empirical ...
J Benhabib… - Journal of Monetary Economics, 2004 - Elsevier
We show that under indeterminacy aggregate demand shocks are able to explain not only
aspects of actual fluctuations that standard RBC models predict fairly well, but also aspects
of actual fluctuations that standard RBC models cannot explain, such as the hump-shaped ...
J Benhabib… - Journal of Economic Theory, 1994 - Elsevier
Abstract The papers in this symposium demonstrate the theoretical as well as the empirical
plausibility of indeterminacy and of sunspots in equilibrium models with infinitely lived
agents. They depart from the standard competitive framework because of the presence of ...
J Benhabib… - The Journal of Political Economy, 1983 - JSTOR
We integrate the optimal sequential and the optimal sample-size search strategies. In
contrast to the existing search literature in which individuals specialize in either search or
work, the model in this paper allows for an optimal choice of search intensity that results in ...
J Benhabib… - Journal of Economic Theory, 1997 - Elsevier
In the problem of optimal taxation in an economy with labor and capital, the optimal solution
when the government can commit to a sequence of tax rates entails that the tax on capital
tends to zero in the limit, with all the tax burden on labor. It is well known, however, that ...
J Benhabib… - Carnegie-Rochester Conference Series on Public …, 1995 - Elsevier
We overview some recent models of growth with multiple equilibria. Those models offer a
potential explanation for differences in income levels across economies which stands as an
alternative to theories that rely exclusively on differences in fundamentals and/or initial ...
J Benhabib… - Review of Economic Dynamics, 2000 - Elsevier
Recent literature on structural vector autoregressions has attempted to identify the effects on
the economy of an increase in the stock of money. This work has led to a broad consensus.
Initially, an increase in money leads to an increase in economic activity. Output and ...
J Benhabib… - International Economic Review, 1981 - JSTOR
The seminal article of Tobin [1965] on money and growth raised many questions and led to
a large and growing literature. In dealing with the unstable character of the steady state and
the explosive nature of almost all trajectories that are generated by the Tobin model, ...
J Benhabib,
A Bisin… - Games and Economic Behavior, 2010 - Elsevier
In this paper we elicit preferences for money–time pairs via experimental techniques. We
estimate a general specification of discounting that nests exponential and hyperbolic
discounting, as well as various forms of present bias, including quasi-hyperbolic ...
J Benhabib… - Journal of Economic Theory, 1988 - Elsevier
Abstract In a model of overlapping generations with production, money, and an endogenous
labor supply, general conditions are given for the existence of two different types of cyclical
equilibria. The conditions are given in terms of the elasticities of demand for savings and ...
J Benhabib… - 1992 - econ.as.nyu.edu
ABSTRACT We use cross-country estimates of physical and human capital accumulation to
run the growth accounting regressions implied by an aggregate production function based
upon a Cobb-Douglas technology in which human capital enters as a factor of production. ...
J Benhabib… - Economics Letters, 1980 - Elsevier
Abstract We study a simple, deterministic overlapping-generations model with capital
accumulation where the discount rate of each generation is positively related to its lifetime
wealth. We show that the trajectories for the capital stock can be periodic of arbitrary high ...
J Benhabib… - Journal of Economic Theory, 2005 - Elsevier
We study the emergence of multiple equilibria in models with capital and bonds under
various monetary and fiscal policies. We show that the presence of capital is indeed another
independent source of local and global multiplicities, even under active policies that yield ...
J Benhabib… - Economic Theory, 2006 - Springer
Abstract We ask what redistributions of income and assets are feasible in a democracy,
given the initial assets and their distribution. The question is motivated by the possibility that
if redistribution is insufficient for the poor or excessive for the rich, they may turn against ...
Abstract: A growing empirical and theoretical literature argues in favor of specifying
monetary policy in the form of Taylor-type interest rate feedback rules. That is, rules whereby
the nominal interest rate is set as an increasing function of inflation with a slope greater ...
J Benhabib… - Journal of Economic Theory, 1990 - Elsevier
Abstract A misinterpretation of turnpike theorems suggests that persistent cyclic behavior in
optimal growth models is only possible with large discount rates. This paper shows that for
any positive discount rate there exists a large family of standard Cobb-Douglas ...
J Benhabib, A Rustichini… - 1991 - kellogg.northwestern.edu
Abstract In this paper we study the relationship between wealth, income distribution and
growth in a game-theoretic context in which property rights are not completely enforcable.
We consider equilibrium paths of accumulation which yield players utilities that are at least ...
J Benhabib, K Nishimura… - Economic Theory, 2002 - Springer
Summary. We consider a discrete-time two-sector Cobb-Douglas economy with positive
sector specific external effects. We show that indeterminacy of steady states and cycles can
easily arise with constant or decreasing social returns to scale, and very small market ...
J Benhabib… - International Economic Review, 1981 - JSTOR
In this paper we study the stability of equilibrium in models of capital theory. We first give
alternative proofs of several local stability results obtained by Magill [1977] without making
use of the reduced form for the equations of motion. This allows us to dispense with ...
J Benhabib… - International Economic Review, 1979 - JSTOR
It is well known that in multisector models of optimal growth, optimal paths converge to a
unique steady state when future utilities are not discounted. Sutherland [1970], Kurz [1968],
and Liviatan and Samuelson [1969] gave examples of multiple steady states when future ...
J Benhabib… - Journal of Economic Dynamics and Control, 1994 - Elsevier
Abstract We provide exact solutions for a class of stochastic dynamic programming problems
in growth theory involving pairs of constant relative risk aversion utility functions and CES
technologies. This generalizes the solutions for the well-known case of logarithmic utility ...
J Benhabib… - General Equilibrium, Growth and Trade. II …, 1993 - econ.nyu.edu
ABSTRACT An equilibrium vintage model is proposed to study the volatility of investment
expenditures. In a stochastic framework it is shown that the existence of vintage effects
results in the smoothing of output and, in contrast to adjustment-cost models, in ...
J Benhabib, S Jafarey… - Journal of Economic Theory, 1988 - Elsevier
Abstract The local dynamics of efficient allocations are studied for heterogeneous-agent
economies with production where preferences are recursive but not time-separable. In the
case of a one-sector neoclassical technology, it is shown that optimal trajectories locally ...
J Benhabib, M Spiegel… - 1997 - econ.nyu.edu
A large literature has identified a variety of" ancillary variables," such as political instability,
income distribution, and financial development as important determinants of income growth
in cross-sectional studies. This leaves open the question of whether these variables ...
J Benhabib… - Working Papers, 1988 - econpapers.repec.org
By Jess Benhabib and Kazuo Nishimura; ENDOGENOUS FLUCTUATIONS
IN THE BARRO-BECKER THEORY OF FERTILITY.
J Benhabib… - New York University, Working Paper, 2006 - nber.org
Abstract We study the dynamics of the distribution of wealth in an Overlapping Generation
economy with bequest and various forms of redistributive taxation. We characterize the
transitional dynamics of the wealth distribution as well as the stationary distribution. We ...
J Benhabib, MM Spiegel… - 1997 - Citeseer
ABSTRACT This paper examines the channels through which country characteristics affect
growth. We investigate whether “primitives,” or rates of factor accumulation, are sufficient
statistics for economic growth, and whether “ancillary variables,” such as political ...
J Benhabib… - 2007 - nber.org
We ask what level of migration would maximize world welfare. We find that skill-neutral
policies are never optimal. An egalitarian welfare function induces a policy that entails
moving mainly unskilled immigrants into the rich countries, whereas a welfare function ...
J Benhabib… - European Economic Review, 1996 - Elsevier
We study a representative agent, open economy in which government-provided services
that enter the domestic production function must be financed with distortionary taxes, and
focus on the optimal size of government and the associated optimal tax rate. If the ...
[CITATION] The role of human capital in economic development: Evidence from aggregate cross-country and regional US data
J Benhabib, M Spiegel… - 1992 - … , New York University, Faculty of Arts …
J Benhabib… - International Economic Review, 1983 - JSTOR
This paper formalizes Milton Friedman's optimum quantity of money theory [1969] in a
dynamic, general equilibrium framework. Roughly speaking, the optimlllm qLiantity of money
theory states that by increasing the real rate of return oni real money balances, through ...
J Benhabib, R Wright… - 1990 - nber.org
ABSTRACT This paper argues that the home, or nonmarket, sector is empirically large,
whether measured in terms of the time devoted to household production activities or in terms
of the value of home produced output. We also argue that there may be a good deal of ...
J Benhabib, R Perli, P Sakellaris… - 1997 - time.dufe.edu.cn
Abstract In this paper we explore whether the changing composition of output in response to
technology shocks can play a significant role in the propagation of shocks over time. For this
purpose we study two multisector RBC models, with two and three sectors. We find that, ...
J Benhabib… - International Economic Review, 1989 - JSTOR
We consider a stochastic equilibrium model with an infinitely-lived representative agent and
a neoclassical two-sector economy. We show that for a large class of technologies
characterized by factor-intensity conditions, the distributions of the capital stock, ...
J Benhabib - Journal of Economic Theory, 1980 - econpapers.repec.org
... EconPapers has moved to http://EconPapers.repec.org! Please update your bookmarks.
Adaptive monetary policy and rational expectations. Jess Benhabib (). Journal of
Economic Theory, 1980, vol. 23, issue 2, pages 261-266. ...
M Bassetto… - Review of Economic Dynamics, 2006 - Elsevier
We study a simple model of production, accumulation, and redistribution, where agents are
heterogeneous in their initial wealth, and a sequence of redistributive tax rates is voted
upon. Though the policy is infinite-dimensional, we prove that a median voter theorem ...
J Benhabib, M Majumdar… - Journal of Economic Behavior & …, 1987 - Elsevier
Abstract We study the global dynamics of capital accumulation for a general two-sector
model which is not necessarily convex and where preferences of an infinitely-lived agent are
stationary but not additively separable. We obtain monotonicity and convergence results ...
J Benhabib… - manuscript, Department of …, 2002 - polarizationandconflict.org
Western societies have developed into a historically new stage in the evolution of capitalism,
one which is characterized by corporations exercising monopolistic power and sustaining
demand by advertising through the media. While this theme has been emphasized eg, by ...
J Benhabib,
A Bisin… - Econometrica, 2011 - Wiley Online Library
We study the dynamics of the distribution of wealth in an overlapping generation economy
with finitely lived agents and intergenerational transmission of wealth. Financial markets are
incomplete, exposing agents to both labor and capital income risk. We show that the ...
J Benhabib… - Japanese Economic Review, 1999 - Wiley Online Library
We characterize a large class of constant-returns-to-scale economies with standard Cobb–
Douglas production technologies, which, when perturbed to incorporate external effects,
exhibit indeterminacy or multiple equilibria. The perturbations are constrained to maintain ...
J Benhabib… - Economic Research Report, 1991 - econ.as.nyu.edu
A large literature has recently developed in which cross-country estimation of aggregate
production functions are used to investigate the determinants of economic growth. This
literature [for example, see Barro (1991)] typically runs a cross-sectional estimation of ...
J Benhabib, A Rustichini… - Working Papers, 1996 - ideas.repec.org
We consider a representative agent, infinite-horizon economy where production requires
private and public capital. The supply of public capital is financed through distortionary
taxation. The optimal (second best) tax policy of a benevolent government is time ...
J Benhabib - Annals of Economics and Finance, 2003 - aeconf.net
Is there a trade-off between inequality and economic growth? The theory and the evidence
are so far inconclusive. So far the theory and the evidence are inconclusive. We want to
construct a political economy model of growth to demonstrate that excessive inequality ...
J Benhabib… - New York University, 2002 - istituti.unicatt.it
Abstract We study consumption/saving decisions in an environment in which agents face a
conflict between present and future utility which may require self-control for its resolution. We
derive behavioral foundations for our analysis of self-control from the cognitive sciences, ...
J Benhabib… - Economics Letters, 1987 - Elsevier
Abstract An example of a dynamic game between a union and a firm is constructed in which
an equilibrium path starts out with non-cooperative strategies and switches to cooperative
strategies as the level of employment increases.
J Benhabib… - Working Papers, 1988 - ideas.repec.org
If you experience problems downloading a file, check if you have the proper application to
view it first. Information about this may be contained in the File-Format links below. In case of
further problems read the IDEAS help page. Note that these files are not on the IDEAS site ...
[CITATION] K. Nishimura (2000),“Indeterminacy under Constant Return to Scale in Multisector Economies,”
J Benhabib… - Econometrica
J Benhabib… - 2008 - nber.org
We present a mechanism to analytically generate a double Pareto distribution of wealth in a
continuous time OLG model with optimizing agents who have bequest motives, are subject
to stochastic returns on capital and have uncertain lifespans. We disentangle, roughly, the ...
J Benhabib,
A Bisin… - New York University …, 2004 - emlab.berkeley.edu
Abstract In this paper we elicit preferences for discounting via experimental techniques. We
then estimate a general specification of discounting that nests exponential and hyperbolic
discounting, as well as various forms of present bias, including quasi% hyperbolic ...
J Benhabib, MO Jackson… - 2010 - books.google.com
How do economists understand and measure normal social phenomena? Identifying
economic strains in activities such as learning, group formation, discrimination, and peer
dynamics requires sophisticated data and tools as well as a grasp of prior scholarship. In ...
ABSTRACT We construct a theoretical model of a monetary economy in which money is
used to facilitate exchange. Our model differs from existing approaches by allowing an
important role for an externality in transacting. We calibrate the model and argue that the ...
J Benhabib - Economics Letters, 1978 - Elsevier
Economics Letters 1 (1978) 321324 NorthHolland Publishing Company A NOTE ON OPTIMAL
GROWTH AND INTERTEMPORALLY DEPENDENT PREFERENCES Jess BENHABIB University
of Southern California, Los Angeles, CA 90007, USA Received December 1978 The ...
ABSTRACT We reexamine the aggregate data on the growth of output, labor and capital,
within the context of an explicit model that admits the possibility of an externality to the
capital input. We consider three separate sources of evidence. Looking first at the annual ...
J Benhabib… - Manuscript, New York University, 2005 - clacs.as.nyu.edu
Abstract We examine the impact of political and criminal accountability on economic growth.
Governments seek to maximize their own consumption by extracting rents that are costly to
growth. When citizens are able to depose politicians through elections, governments are ...
J Benhabib… - 1992 - econ.as.nyu.edu
ABSTRACT We study how immigration policies that impose capital and skill requirements
would be determined under majority voting when natives differ in their wealth and vote for
policies that maximize their income. We also consider political outcomes when the ...
J Benhabib,
S Schmitt-Grohé… - Manuscript, University of …, 2000 - econ.duke.edu
In this appendix, we develop a continuous-time, money-in-the-production function version of
Tack Yun's (1996) sticky-price model. Yun's model is a variation of Guillermo A. Calvo's
(1983) model in which firms are assumed to set prices so as to maximize the present ...
J Benhabib - Journal of Money, Credit and Banking, 2004 - JSTOR
We study the design of monetary policy in a continuous-time framework with delays. More
explicitly, we consider a linear, flexible-price model where inflation and nominal interest
rates change continuously, but where nominal rates are set by the Central Bank in ...
J Benhabib… - Perspectives on the future of economics: …, 2008 - econ.nyu.edu
Abstract Are models and data on choice processes useful as a complement to revealed
preferences in decision theory? We answer this methodological question in the affirmative.
We also argue, however, that progress in neuroeconomics is likely to require relying more ...
J Benhabib… - … , and Trade II, The Legacy of …, 1993 - en.scientificcommons.org
J Benhabib… - … in Modern Macroeconomics: In Honor of …, 2003 - time.dufe.edu.cn
Abstract Does it matter whether productivity growth is embodied in new machines or whether
it is disembodied and lifts the productivity of all equipment? Phelps (1962) argued that the
composition of the sources of growth is irrelevant in the long run. In this paper we ...
J Benhabib - Journal of economic theory, 1998 - Elsevier
This introduction provides an overview of the three papers included in this symposium and highlights
their contribution to the literature.Journal of Economic LiteratureClassification Numbers:
E00, E3, O40. ... 5. J. Benhabib and RE Farmer, Indeterminacy and sector specific ...
J Benhabib, A Corvalan… - 2011 - nber.org
A number of recent empirical studies have cast doubt on the “modernization theory” of
democratization, which posits that increases in income are conducive to increases in
democracy levels. This doubt stems mainly from the fact that while a strong positive ...
J Benhabib, A Rustichini… - Review of Economic Design, 2001 - Springer
Abstract. We consider a representative agent, infinite-horizon economy where production
requires private and public capital. The supply of public capital is financed through
distortionary taxation. The optimal (second best) tax policy of a benevolent government is ...
J Benhabib, K Nishimura… - International Journal of …, 2008 - Wiley Online Library
In the present paper, we construct a continuous time model of economic growth with positive
externalities and with variable capacity utilization, and study the global equilibrium paths in
this model. If there is a homoclinic orbit or a periodic solution in this model, equilibrium is ...
J Benhabib, R Perli… - International Journal of …, 2006 - Wiley Online Library
In this paper we explore whether the changing composition of output in response to
technology shocks can play a significant role in the propagation of shocks over time. For this
purpose we study two multisector real business cycle models, with two and three sectors. ...
J Benhabib… - Working Papers, 1996 - ideas.repec.org
We show that indeterminacy can easily arise in multi-sector models that have constant
variable returns to scale and very small market imperfections. This is in sharp contrast to
models that require increasing returns to generate indeterminacy, and which have been ...
[CITATION] Designing Monetary Policy: Backward-Looking Interest-Rate Rules and Interest Rate Smoothing
J Benhabib, S Schmitt-Grohé… - 2002 - Mimeo, Rutgers University, October
J BENHABIB… - Cycles and Chaos in Economic …, 1992 - books.google.com
The pure" consumption-loan" model of Samuelson (1958) has been one of the most widely
discussed subjects in the contemporary economic literature [see Meckling (1960), Cass and
Yaari (1966, 1967), Diamond (1965), Thompson (1967), Shell (1971), Starret (1972), Gale ...
J Benhabib - Economics Letters, 1979 - Elsevier
Abstract Pareto's adjustment cost model generating cyclical consumption patterns and
Wicksell's observation that it contains mathematical errors are analyzed. An alternative
model capturing the essence of Pareto's model and meeting Wicksell's criticisms is ...
J Benhabib - Studies in Nonlinear Dynamics and Econometrics, 1996 - mitpress.mit.edu
The possibility of cycles and chaos arising from nonlinear dynamics in economics emerged
in the literature in the 1980s, and it came as a surprise. 1 The possibility of deterministic
cycles in economic models had been noted before, for example in the well-known ...
[CITATION] Indeterminacy and Sunspots in Macroeconomics," in John Taylor and Michael Woodford, eds., Handbook of Macroeconomics, Amsterdam: North-Holland
J Benhabib… - 1999
J Benhabib, A Velasco… - 1995 - minneapolisfed.org
ABSTRACT We study a representative agent, open economy in which government-provided
services that enter the domestic production function must be financed with distortionary
taxes, and focus on the optimal size of government and the associated optimal tax rate. If ...
[CITATION] A vintage model of growth and investment: theory and evidence
J Benhabib… - General Equilibrium, Growth and Trade II, R. Becker et …, 1993
MJP Magill… - J. MATH. ANALY. AND APPLIC., 1983 - csa.com
This paper presents a simple theoretical model of the spot and futures markets for a storable
commodity. The authors focus attention in particular on the classical futures markets, those
for harvested storable commodities. For these commodities which include grains such as ...
J Benhabib, R Perli… - 1993 - econ.nyu.edu
Abstract In this paper we study the dynamics of the endogenous growth model of Lucas
[1988]. We characterize the regions of the parameter space that give rise to unique equilibria
as well as the regions that yield a continuum of equilibria with positive growth rates. We ...
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