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ID 20344
file
creator
NDC
Economics
abstract
In this short article, we investigate the effects of public policies on the market equilibrium resource allocation in an economy that is affected by two sources of market failure; (i) positive technological externalities, and (ii) indebted firms' incentive to default. The Priority Production System employed by the Japanese government during the reconstruction period after World War II could achieve the first-best outcome in such an environment.
journal title
The Hiroshima Economic Review
volume
Volume 31
issue
Issue 1
start page
123
end page
130
date of issued
2007-08-31
publisher
広島大学経済学会
issn
0386-2704
ncid
SelfDOI
language
eng
nii type
Departmental Bulletin Paper
HU type
Departmental Bulletin Papers
DCMI type
text
format
application/pdf
text version
publisher
department
Graduate School of Social Sciences
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