27 Result(s)

Article

Knowledge-based structural change

How will structural change unfold beyond the rise of services? Motivated by the observed dynamics within the service sector we propose a model of structural change in which productivity is endogenous and outpu...

Kevin Genna, Christian Ghiglino, Kazuo Nishimura, Alain Venditti in Economic Theory (2024)

Article

Expectations, beliefs and the business cycle: tracing back to the deep economic drivers

When can exogenous changes in beliefs generate endogenous fluctuations in rational expectation models? We analyze this question in the canonical one-sector and two-sector models of the business cycle with incr...

Frédéric Dufourt, Kazuo Nishimura, Alain Venditti in Economic Theory (2024)

Article

Flying or trapped?

We develop a unified theory with endogenous technology choice in human/knowledge capital accumulation to obtain a rich array of development paradigms. The transition from a less productive technology to a more...

Yunfang Hu, Takuma Kunieda, Kazuo Nishimura, ** Wang in Economic Theory (2023)

Article

Global convergence in an overlap** generations model with two-sided altruism

We study the evolutionary dynamics of an overlap** generations economy with two-sided altruism, where each generation cares about the utilities of its parental generation, its offspring, and its own. We assu...

Takaaki Aoki, Kazuo Nishimura in Journal of Evolutionary Economics (2017)

Article

Destabilization effect of international trade in a perfect foresight dynamic general equilibrium model

In the present paper, we consider a two-country, two-good, two-factor general equilibrium model with CIES nonlinear preferences, asymmetric technologies across countries and decreasing returns to scale. It is ...

Kazuo Nishimura, Alain Venditti, Makoto Yano in Economic Theory (2014)

Article

A dynamic two country Heckscher–Ohlin model with non-homothetic preferences

We examine the properties of a two-country dynamic Heckscher–Ohlin model that allows for preferences to be non-homothetic. We show that the model has a continuum of steady state equilibria under free trade, wi...

Eric W. Bond, Kazumichi Iwasa, Kazuo Nishimura in Economic Theory (2011)

Article

Equilibrium dynamics in discrete-time endogenous growth models with social constant returns

The existing literature establishes possibilities of local determinacy and dynamic indeterminacy in continuous-time two-sector models of endogenous growth with social constant returns. The necessary and suffic...

Kazuo Mino, Kazuo Nishimura, Koji Shimomura, ** Wang in Economic Theory (2008)

Article

Endogenous Fluctuations in Two-Country Models

This paper investigates the interlinkage in the business cycles of large-country economies in a free-trade equilibrium. We consider a two-country, two-good, two-factor general equilibrium model with Cobb-Dougl...

Kazuo Nishimura, Alain Venditti, Makoto Yano in The Japanese Economic Review (2006)

Article

Duality with Sector-Specific Externalities Under Social Constant Returns

We develop dual approaches to quantity and price relationships of production in a general multisectoral model with sector-specific externalities. The production of each good exhibits socially constant returns ...

Kazuo Nishimura, Koji Shimomura, ** Wang in The Japanese Economic Review (2006)

Article

Introduction

Kazuo Nishimura, Makoto Yano in The Japanese Economic Review (2006)

Article

Parents’ Educational Background, Subjects “Good-At” in School and Income: An Empirical Study

We analyze the effects of studying mathematics and of parents’ academic profile on the annual labour income of their children in later life. Data was obtained from graduates of departments of economics at majo...

Junichi Hirata, Kazuo Nishimura, Junko Urasaka… in The Japanese Economic Review (2006)

Article

Foreword to the Symposium

Charalambos D. Aliprantis, Tapan Mitra, Kazuo Nishimura, Roy Radner in Economic Theory (2006)

Article

Indeterminacy in a dynamic two-country model

The purpose of this paper is to show that indeterminacy can arise in a simple competitive two-country dynamic model of international trade, free of externalities, imperfect competition, and government interven...

Kazuo Nishimura, Koji Shimomura in Economic Theory (2006)

Article

Asymmetric Factor Substitutability and Indeterminacy

We consider a discrete-time two-sector CES economy with sector specific external effects in which factor substitutability differs across sectors. For this general model, we provide sufficient conditions on the...

Kazuo Nishimura, Alain Venditti in Journal of Economics (2004)

Article

Working and Training: A Nonlinear Dynamic Analysis of Human Capital Development

We tend to think of workers completing their education and then entering the workforce, where they will gradually develop their skills. In fact, however, a worker’s career may be characterized not only by this...

Kazuo Nishimura, Tadashi Yagi, Makoto Yano in The Japanese Economic Review (2004)

Article

Indeterminacy and cycles in two-sector discrete-time model

We consider a discrete-time two-sector Cobb-Douglas economy with positive sector specific external effects. We show that indeterminacy of steady states and cycles can easily arise with constant or decreasing ...

Jess Benhabib, Kazuo Nishimura, Alain Venditti in Economic Theory (2002)

Article

Equilibrium Growth and Nonlinear Dynamics in Continuous-Time Models

Building on recent work on equilibrium growth models with externality, I re-examine earlier results from multi-sector growth models in the continuous-time framework, and study the structural relationship betwe...

Kazuo Nishimura in The Japanese Economic Review (2001)

Article

Symposium on Intertemporal Equilibrium Theory and Nonlinear Dynamics: Introduction

Kazuo Nishimura, Harutaka Takahashi in The Japanese Economic Review (1999)