Time preference and international trade

被引：1
作者：
Iwasa, Kazumichi [1 ]
Nishimura, Kazuo [1 ]
机构：
[1] Kobe Univ, Res Inst Econ & Business Adm, Kobe, Hyogo, Japan
来源：
INTERNATIONAL JOURNAL OF ECONOMIC THEORY | 2021年 / 17卷 / 01期
关键词：
consumption externality; Heckscher– Ohlin; time preference; two‐ country model; OPTIMAL-GROWTH; HETEROGENEITY; IMPATIENCE;
D O I：
10.1111/ijet.12291
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We first consider a closed model, where households' time discount depends on externality in consumption. We can prove that there is a unique steady state, which is a saddle point. Then we extend the model to a two-country world, and derive the condition on the effects of consumption externality under which there is a unique free trade steady state with saddle-point stability.
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页码：31 / 45
页数：15
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