不可分效用函数和经济增长的不确定性  

Non-separable utility and indeterminacy in economic growth model

作　　者：祝树金[1] 赖明勇[1] 

机构地区：[1]湖南大学经济与贸易学院,长沙410079

出　　处：《管理科学学报》2005年第4期28-34,共7页Journal of Management Sciences in China

基　　金：国家自然科学基金资助项目(70273010);国家社会科学基金资助重点项目(04AJL006);博士点基金资助项目(20010532009).

摘　　要：基于Harrison(2003)的实证结果,建立一个仅在投资品部门存在外部性的两部门(消费品、投资品)增长模型,采用在消费和休闲之间不可分的效用函数,得到了具有轻度外部性的两部门增长模型产生不确定性均衡的一般条件,其不再依赖于单位替代弹性和较高的劳动供给弹性;同时结合参数校准经济,通过数值模拟证实了结论的可靠性.在此基础上分别考虑消费跨期替代弹性、劳动供给弹性对经济增长不确定性的影响.Many researches showed that the growth model may display an indeterminate equilibrium when there exists the increasing return in the economy. However, these studies either adopted the separable utility between consumption and leisure that implies the unit substitution elasticity of consumption, or depended on the higher supply elasticity of labor. Based on the empirical evidence in Harrison （2003）, this paper presents a two-sector （consumption, investment） economic growth model with only externalities in the investment sector. We apply non- separable utility function between consumption and leisure because there are considerable econometric evidences against the assumption of the separable preference. The general condition is provided to the model in presence of mild returns-to-scale to display an indeterminate equilibrium. Our condition doesn＇ t depend on the higher elasticity of labor supply, nor is it further illustrated by calibrated examples. At the meantime we provide the effect of the substitution elasticity of consumption and the labor supply elasticity on the indeterminacy of economic growth.

关 键 词：经济增长 不可分效用函数 规模报酬 外部性 

分 类 号：F019.2[经济管理—政治经济学] F061.2