Internalizing Technological Externality under Default Risk
廣島大學經濟論叢 Volume 31 Issue 1
Page 123-130
published_at 2007-08-31
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この文献の参照には次のURLをご利用ください : https://doi.org/10.15027/20344
| File | |
| Title ( eng ) |
Internalizing Technological Externality under Default Risk
|
| Creator | |
| Source Title |
廣島大學經濟論叢
The Hiroshima Economic Review
|
| Volume | 31 |
| Issue | 1 |
| Start Page | 123 |
| End Page | 130 |
| Journal Identifire |
[ISSN] 0386-2704
[NCID] AN00213519
|
| 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.
|
| NDC |
Economics [ 330 ]
|
| Language |
eng
|
| Resource Type | departmental bulletin paper |
| Publisher |
広島大学経済学会
|
| Date of Issued | 2007-08-31 |
| Publish Type | Version of Record |
| Access Rights | open access |
| Source Identifier |
[ISSN] 0386-2704
[NCID] AN00213519
|
