要旨：This study considers a small parametric uncertainty of migration cost in a rational expectation two region model with increasing returns to scale and migration cost of each period increases in number of migrants. When the stochastic parameter follows a Brownian motion in continuous time with minute variance, imitative equilibrium belief in which behavior of the stochastic model approximately coincides the deterministic model, is uniquely determined dependent on given state variables; then indeterminacy of equilibria of deterministic model diminishes. However, this result critically depends on the assumption of Brownian motion and it does not hold when we suppose different stochastic process without either of two important characteristics of Brownian motion: infinite length of sample path and continuity.

【応用ミクロ経済学ワークショップと共催】

【応用ミクロ経済学ワークショップと共催】