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| ???org.dspace.app.webui.jsptag.ItemTag.dcfield??? | Value | Language |
|---|---|---|
| dc.contributor.advisor | 毛慶生 | |
| dc.contributor.author | Han-Ming Liao | en |
| dc.contributor.author | 廖翰民 | zh_TW |
| dc.date.accessioned | 2021-06-13T03:16:35Z | - |
| dc.date.available | 2006-07-31 | |
| dc.date.copyright | 2006-07-31 | |
| dc.date.issued | 2006 | |
| dc.date.submitted | 2006-07-31 | |
| dc.identifier.citation | References
[1] Basu, Susanto (1995), “Intermediate Goods and Business Cycles: Implications for Productivity and Welfare,” American Economic Review, Vol. 85, No. 3, 512-531. [2] Bergin, Paul R., and Robert C. Feenstra (2000), “Staggered Price Setting, Translog Preferences, and Endogenous Persistence,” Journal of Monetary Economics, Vol. 45, 657-680. [3] Blanchard, Olivier J., and Nobuhiro Kiyotaki (1987), “Monopolistic Competition and the Effects of Aggregate Demand,” American Economic Review, Vol. 77, No. 4, 647-666. [4] Calvo, Guillermo (1983), “Staggered Prices in a Utility-Maximizing Framework,” Journal of Monetary Economics, Vol. 12, 383-398. [5] Chari, V. V., Patrick J. Kehoe, and Ellen R. McGrattan (2000), “Sticky Price Models of the Business Cycle: Can the Contract Multiplier Solve the Persistence Problem,” Econometrica, Vol. 68, No. 5, 1151-1179. [6] Dixit, Avinash K., and Joseph E. Stiglitz (1977), “Monopolistic Competition and Optimum Product Diversity,” American Economic Review, Vol. 67, No. 3, 297-308. [7] Dotsey, Michael, Robert G. King, and Alexander L. Wolman (1999), “State-Dependent Pricing and the General Equilibrium Dynamics of Money and Output,” The Quarterly Journal of Economics, Vol. 114, Issue 2, 655-690. [8] Dotsey, Michael, and Robert G. King (2005), “Pricing, Production, and Persistence,” NBER Working Paper Series, No. 05-4. [9] Greenwood, Jeremy, Zvi Hercowitz, and Gregory W. Huffman (1988), “Investment, Capacity Utilization, and the Real Business Cycle,” American Economic Review, Vol. 78, No. 3, 402-417. [10] Huang, Kevin X.D., and Zheng Liu (1999), “Staggered Contracts and Business Cycle Persistence,” Institute for Empirical Macroeconomics Discussion Paper 127, Federal Reserve Bank of Minneapolis. [11] Huang, Kevin X.D., and Zheng Liu (2001), “Production Chains and General Equilibrium Aggregate Dynamics,” Journal of Monetary Economics, Vol. 48, 437-462. [12] Huang, Kevin X.D., and Zheng Liu (2004), “Input-Output Structure and Nominal Rigidity: The Persistence Problem Revisited,” Macroeconomic Dynamics, Vol. 8, Issue 02, 188-206. [13] Lucas, Robert E., Jr. (1996), “Nobel Lecture: Monetary Neutrality,” Journal of Political Economy, Vol. 104, No. 4, 661-682. [14] McCallum, Bennett T. (1978), “Price Level Adjustments and the Rational Expectations Approach to Macroeconomic Stabilization Policy,” Journal of Money, Credit, and Banking, Vol. 10, No. 4, 418-436. [15] McCallum, Bennett T. (2001), “Should Monetary Policy Respond Strongly to Output Gaps,” American Economic Review, Vol. 91, No. 2, 258-262. [16] Taylor, John B. (1980), “Aggregate Dynamics and Staggered Contract,” Journal of Political Economy, Vol. 88, No. 1, 1-23 [17] Taylor, John B. (1993), “Discretion Versus Policy Rules in Practice,” Carnegie-Rochester Conference Series on Public Policy, 39, 195-214. [18] Woodford, Michael (2001), “The Taylor Rule and Optimal Monetary Policy,” American Economic Review, Vol. 91, No. 2, 232-237. [19] Yun, Tack (1996), “Nominal Price Rigidity, Money Supply Endogeneity, and Business Cycles,” Journal of Monetary Economics, Vol. 37, 345-370. | |
| dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/31645 | - |
| dc.description.abstract | This paper studies the long-run economic performance in a sticky price model
where firms have the ability to set their prices. We pay our attention to the effects of the variations of the price level on the real variables under different money supply rules and policy parameters at steady state. The main finding shows that the sticky price economy with a low growth rate of money supply has a better long-run performance than the flexible price economy where the classical neutrality applies. It is clear that money is not neutral in our model. | en |
| dc.description.provenance | Made available in DSpace on 2021-06-13T03:16:35Z (GMT). No. of bitstreams: 1 ntu-95-R93323025-1.pdf: 658575 bytes, checksum: abd948998f84911e4e68992a67ec03d1 (MD5) Previous issue date: 2006 | en |
| dc.description.tableofcontents | Contents
1 Introduction 3 2 The Model 5 2.1 The firms’ behavior for final-goods production . . . . . . . 5 2.2 Pricing behavior of the firms . . . . . . . . . . . . . . . . . . 8 2.3 Behavior of the representative household . . . . . . . . . . 14 2.4 Market-clearing conditions and aggregation . . . . . . . . 17 2.5 The role of money and the economy’s equilibrium . . . . 19 3 Long-Run Analyses 21 3.1 Steady state . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 3.2 Comparison between the sticky price model and the flexible price model . . . . . . . . . . . . . . . . . . . . . . . . . . 27 3.3 Monetary nonneutrality and monetary policies . . . . . . 28 3.3.1 Nonneutrality of money . . . . . . . . . . . . . . . . . 30 3.3.2 Long-run effects under a feedback rule policy . . . 33 4 Conclusion 35 Appendix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 Reference . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 | |
| dc.language.iso | en | |
| dc.subject | 貨幣非中立性 | zh_TW |
| dc.subject | 價格僵固性 | zh_TW |
| dc.subject | monetary nonneutrality | en |
| dc.subject | price stickiness | en |
| dc.title | 價格僵固性之下的長期經濟表現 | zh_TW |
| dc.title | Long-Run Economic Performance Under Price Stickiness | en |
| dc.type | Thesis | |
| dc.date.schoolyear | 94-2 | |
| dc.description.degree | 碩士 | |
| dc.contributor.oralexamcommittee | 林建甫,陳旭昇 | |
| dc.subject.keyword | 價格僵固性,貨幣非中立性, | zh_TW |
| dc.subject.keyword | price stickiness,monetary nonneutrality, | en |
| dc.relation.page | 45 | |
| dc.rights.note | 有償授權 | |
| dc.date.accepted | 2006-07-31 | |
| dc.contributor.author-college | 社會科學院 | zh_TW |
| dc.contributor.author-dept | 經濟學研究所 | zh_TW |
| Appears in Collections: | 經濟學系 | |
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| File | Size | Format | |
|---|---|---|---|
| ntu-95-1.pdf Restricted Access | 643.14 kB | Adobe PDF |
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