Corrigendum to 'Tax/Subsidy policies toward vector-borne infectious diseases' [J. Public Econ. 89 (2005) 647-674]

摘要

The results in Gersovitz and Hammer (2005) presented on p. 662 para, beginning "Figs. 3 and 4..." and Figs. 3 and 4 pp. 663-5 themselves are in error. The error results from a mistake in the computer code for these simulations that was specific to the case ∈ = 2. This error did not occur in the calculations for the base case, ∈ = 0. The algebraic model, Eqs. (1), (2), (3a) and (7a)-(7g), has a steady state that is invariant to the form of the (single-argument) utility function, as can be proved by dividing all mutlipliers by the marginal utility of consumption, Ψ', a Golden-Rule type of result (e.g. Dixit, 1990, p. 157). Therefore correct simulations cannot produce different steady states when the specifications differ only by ∈. The paths to the common steady state differ, as they do in the case of Golden-Rule accumulation.