文章基本信息

标题：Does Immigration Promote the Investment of the Monopolistic Firm?
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作者：Yasunori Fujita
期刊名称：Modern Economy
印刷版ISSN：2152-7245
电子版ISSN：2152-7261
出版年度：2017
卷号：08
期号：03
页码：406-411
DOI：10.4236/me.2017.83030
语种：English
出版社：Scientific Research Publishing
摘要：In the present paper, we examine the effect of increasing uncertainty of immigrants’ growth on the optimal timing of investment of a firm that has a monopolistic power over the labor market. It is revealed that when the uncertainty of immigrants’ growth is more than a threshold level, increasing uncertainty of immigrants’ growth accelerates the optimal timing of firms’ investment and enhances the economic growth, even if the uncertainty of immigrants’ growth is formulated by the geometric Brownian motion, which is in sharp contrast to the standard result that an increase in the uncertainty postpones the optimal timing.
关键词：Optimal Stopping Theory;Geometric Brownian Motion;Value of Waiting;Immigrants;Monopolistic Power over Labor Market