北大经院工作坊第696场
Bottlenecks and Economic Growth
微观理论经济学工作坊
主讲人：Lawrence Blume (Distinguished Arts and Sciences Professor of Economics and Professor of Information Science at Cornell University)
主持老师：
（北大经院）平新乔、梁远宁
（北大国发院）胡岠
参与老师：
（北大经院）胡涛、吴泽南、石凡奇
（北大国发院）汪浩、胡岠
（北大光华）翁翕
时间：2023年7月12日（周三）14:00-15:30
地点：8797威尼斯老品牌403会议室
主讲人简介：
Lawrence Blume is a Distinguished Arts and Sciences Professor of Economics and Professor of Information Science at Cornell University. He received a B.A. in economics from Washington University and a Ph.D. in economics from the University of California, Berkeley. He was one of the general editors of The New Palgrave Dictionary of Economics, 2nd edition, to which he contributed several articles on economic theory. He is also a fellow of the Econometric Society, a visiting research professor at the Institute for Advanced Studies in Vienna (IHS), and has been a member of the external faculty at the Santa Fe Institute, where he served as co-director of the Economics Program and on the Institute's steering committee. He also served as chair of Cornell’s Department of Economics and is currently the Associate Dean for Academic Affairs of the Bowers College of Computing and Information Science at Cornell.
摘要：
Recent history has focussed our attention on the consequences of complex production networks: the supply chain problem. Here we investigate the the short- and long-run consequences of a single shock in constant- returns-to-scale production technologies. All such competitive models have a price turnpike, a single ray of current-value prices to which equilibrium prices will converge even though consumption paths may be much less well-behaved. We bound worst-case rates of convergence to the ray, relate the bounds to properties of the production network topology, and demonstrate that the short-run behavior of competitive price paths can be quite wild far from the long-run steady state.
北大经院工作坊第697场
Understanding Poverty Traps
微观理论经济学工作坊
主讲人：Lawrence Blume (Distinguished Arts and Sciences Professor of Economics and Professor of Information Science at Cornell University)
主持老师：
（北大经院）平新乔
（北大光华）刘烁
参与老师：
（北大经院）胡涛、吴泽南、石凡奇
（北大国发院）汪浩、胡岠
（北大光华）翁翕
时间：2023年7月13日（周四）10:00 -11:30
地点：8797威尼斯老品牌403会议室
主讲人简介：
Lawrence Blume is a Distinguished Arts and Sciences Professor of Economics and Professor of Information Science at Cornell University. He received a B.A. in economics from Washington University and a Ph.D. in economics from the University of California, Berkeley. He was one of the general editors of The New Palgrave Dictionary of Economics, 2nd edition, to which he contributed several articles on economic theory. He is also a fellow of the Econometric Society, a visiting research professor at the Institute for Advanced Studies in Vienna (IHS), and has been a member of the external faculty at the Santa Fe Institute, where he served as co-director of the Economics Program and on the Institute's steering committee. He also served as chair of Cornell’s Department of Economics and is currently the Associate Dean for Academic Affairs of the Bowers College of Computing and Information Science at Cornell.
摘要：
Poverty trap models are dynamical systems with more than one attractor. Similar dynamical systems arise in optimal growth and macroeconomic models. These systems are often studied empirically by ad hoc methods relying on intuition from deterministic systems, such as looking for multiple peaks in the stationary distribution of states. We develop Markov wealth processes in which parents’ investments in children stochastically determine children’s wealth, and consequently their own investment choices. We show that, relative to a zero-shock process, some of the multiple attractors are less fragile than are others, and that their presence dominates the stationary behavior of the wealth distribution. Typically, mass accumulates around attractors. An only slightly stochastically perturbed deterministic system will have an invariant distribution which puts close to probability 1 on a single steady state rather than having significant mass distributed among several attractors. We also examine how policy affects the shape of the invariant distribution.
供稿：科研与博士后办公室
美编：初夏
责编：度量、雨禾、雨田
