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Consider a world economy with international capital flows, but suppose that because of sovereign default risk a country cannot borrow more than a fraction φ > 0 of its capital stock. Consequently, in Section 19.1, we have the restriction that a?j (t) ≤ φkj (t).
(a) Characterize the steady-state equilibrium of the world economy and show that the steady state is not affected by this constraint. Explain the intuition for this result carefully.
(b) Characterize the transitional dynamics of the world economy under this constraint. Show that Corollary 19.1 no longer holds
CEMEX and Holcim are two cement manufacturers in Durham. They produce cement and sell it into a competitive world market at the fixed price of $60 per ton. Producing one ton of cement also produces one ton of air pollution that negatively impacts ..
Suppose a firm compensates its CEO according to I = 250,000 + 0.0317 X + 0.01 Y, where I = total compensation of the CEO, X = company profits (in millions), and Y = Sales (in millions). Assume that X = $10 (millions), and Y = $20 (millions).
How much would you need to invest at 6% interest compounded quarterly on January 1, 2014 in order to accumulate $10,000 by December 31, 2016 2-Given cash flows for an investment of $5,800 at time "0", determine the rate of return to the accuracy of ..
think of one situation in which the Government is actively involved with the purpose of changing an outcome in the appropriate market. Do you agree that the Government should be involved? Why or why not?
Suppose annual salaries for sales associates from a particular store have a mean of $32,500 and a standard deviation of $2,500. a. Calculate and interpret the z-score for a sales associate who makes $36,000.
using the following equation for the demand for a good or service calculate the price elasticity of demandcross price
Sharon sells a government security worth $4,600,000 to the Federal Reserve Bank of Kansas City. She then deposits the funds in her checking account at First Commerce Bank. Her checking account had a $150,000 balance before this deposit.
Test the null hypothesis that the population variance is equal to 93 against the alternative that the population variance is greater than 93. Use alpha = 0.05. A random sample of 100 with a mean of 60 and a standard deviation.
The store found that 75% of all sales made to credit card users were for purchases of the new line of sportswear, while 30% of all sportswear sales were for the purchase of the outdated fashions. Records indicate that credit cads are used in 80% o..
two individuals chip and holly are stranded on an island. the island has plenty of vegetation. chip and holly can spend
Find the new equilibrium interest rate (r). Graph the answers to b) and e) above and briefly explain the graph. Be sure to label the axes , curves, equilibrium interest rates, equilibrium levels of private investment, and national savings.
A firm wants to lease some land from you for 20 years and build a warehouse on it. As your payment for the lease, you will own the warehouse at the end of the 20 years. If the salvage value is estimated to be worth $20,000
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