【摘要】 引入消费攀比与劳动调整成本两种内生机制于动态随机一般均衡模型,显著改善了模型对于中国经济动态特征的匹配性,它能够增强消费的持久性动态特征,而且准确地复制出了实际经济对中性技术冲击的"驼峰"反应动态以及劳动力市场的反周期动态。进一步,我们定量分析了中国经济波动的来源问题,发现中性技术冲击和投资冲击对中长期波动的显著解释力。更多还原

【Abstract】 This paper incorporates two endogenous mechanisms including consumption habit and labor adjustment cost into a dynamic stochastic general equilibrium model,which largely improves the fitness between the model and the china’s economy concerning the characteristics of business cycles,especially about the properties of labor market in china.The model can generate the important "hump-shaped" dynamic responses of output and investment to the neutral technology shocks,and we quantitatively analyze the sources of china’s business cycles,and we find that neutral technology shocks and investment-specific technology shocks have relatively large power in explaining the business cycles,but that the shocks to government expenditure shares play a minor role in the china’s business cycles in long run.更多还原