IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Log in (now much improved!) to save this article

Gold And Land Prices With Capital Accumulation In An Economy With Industrial And Agricultural Sectors

Listed author(s):
  • ZHANG WEI-BIN

    (RITSUMEIKAN ASIA PACIFIC UNIVERSITY, JAPAN)

The purpose of this study is to examine dynamic interactions among gold value, land price and economic structure in a growth model with capital accumulation. The paper proposes a two-sector general equilibrium model with land and gold prices as endogenous variables. The economy consists of industrial and agricultural sectors with fixed land and gold. Land is used for residential use and agricultural production and gold is used for saving and decorations. The portfolio equilibrium growth model is based on the neoclassical growth theory and Ricardian theory. We simulate the model to demonstrate that the economic system has a unique stable steady state. We show how exogenous changes in preference and technology affect the transitory processes and long-term equilibrium.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.utgjiu.ro/revista/ec/pdf/2016-02/02_Zhang%20Wei%20-Bin.pdf
Download Restriction: no

Article provided by Constantin Brancusi University, Faculty of Economics in its journal Constantin Brancusi University of Targu Jiu Annals - Economy Series.

Volume (Year): 2 (2016)
Issue (Month): (April)
Pages: 16-29

as
in new window

Handle: RePEc:cbu:jrnlec:y:2016:v:2:p:16-29
Contact details of provider: Postal:
Str. Victoriei 24, Targu-Jiu, Gorj

Phone: 004 0253 211062
Web page: http://www.utgjiu.ro/fse_new/
Email:


More information through EDIRC

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as
in new window


  1. Zheng Liu & Pengfei Wang & Tao Zha, 2013. "Landā€Price Dynamics and Macroeconomic Fluctuations," Econometrica, Econometric Society, vol. 81(3), pages 1147-1184, May.
  2. Chappell, David & Dowd, Kevin, 1997. "A Simple Model of the Gold Standard," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 29(1), pages 94-105, February.
  3. Edward L. Glaeser & Joseph Gyourko & Raven E. Saks, 2005. "Why Have Housing Prices Gone Up?," American Economic Review, American Economic Association, vol. 95(2), pages 329-333, May.
  4. Davis, Morris A. & Heathcote, Jonathan, 2007. "The price and quantity of residential land in the United States," Journal of Monetary Economics, Elsevier, vol. 54(8), pages 2595-2620, November.
  5. Du, Jinfeng & Peiser, Richard B., 2014. "Land supply, pricing and local governments' land hoarding in China," Regional Science and Urban Economics, Elsevier, vol. 48(C), pages 180-189.
  6. Chinloy, Peter, 1992. "Returns to holding housing," Journal of Housing Economics, Elsevier, vol. 2(4), pages 310-323, December.
  7. Barro, Robert J, 1979. "Money and the Price Level under the Gold Standard," Economic Journal, Royal Economic Society, vol. 89(353), pages 13-33, March.
  8. Kok, Nils & Monkkonen, Paavo & Quigley, John M., 2014. "Land use regulations and the value of land and housing: An intra-metropolitan analysis," Journal of Urban Economics, Elsevier, vol. 81(C), pages 136-148.
  9. Barsky, Robert B & Summers, Lawrence H, 1988. "Gibson's Paradox and the Gold Standard," Journal of Political Economy, University of Chicago Press, vol. 96(3), pages 528-550, June.
  10. Wei-Bin Zhang, 2015. "Land Price Dynamics in a Two-Sector Growth Model," International Journal of Economics and Empirical Research (IJEER), The Economics and Social Development Organization (TESDO), vol. 3(1), pages 25-38, January.
  11. Clapp John M. & Giaccotto Carmelo, 1994. "The Influence of Economic Variables on Local House Price Dynamics," Journal of Urban Economics, Elsevier, vol. 36(2), pages 161-183, September.
  12. Zhang, Wei-Bin, 1993. "A woman's labor participation and economic growth : Creativity, knowledge utilization and family preference," Economics Letters, Elsevier, vol. 42(1), pages 105-110.
  13. Luigi L. Pasinetti, 1960. "A Mathematical Formulation of the Ricardian System," Review of Economic Studies, Oxford University Press, vol. 27(2), pages 78-98.
  14. Kevin Dowd & Anthony A. Sampson, 1993. "A New Model of the Gold Standard," Canadian Journal of Economics, Canadian Economics Association, vol. 26(2), pages 380-391, May.
  15. Bordo, Michael David & Ellson, Richard Wayne, 1985. "A model of the classical gold standard with depletion," Journal of Monetary Economics, Elsevier, vol. 16(1), pages 109-120, July.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:cbu:jrnlec:y:2016:v:2:p:16-29. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ecobici Nicolae)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.