Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Now let us use the results of Proposition 15.12 to revisit the discussion of the unemployment experiences of continental European economies provided in Blanchard (1997). Consider the model of Section 15.6. Discuss how a wage push, in the form of a wage floor above the market clearing level, first causes unemployment and then, if σ
Proposition 15.12
Consider the baseline model of directed technological change with the two factors corresponding to labor and capital. Suppose that the innovation possibilities frontier is given by the knowledge spillovers specification with extreme state dependence, that is, δ = 1, and that capital accumulates according to (15.45). Then there exists a unique BGP allocation in which there is only labor-augmenting technological change, the interest rate is constant and consumption and output grow at constant rates.
Remembering that the change in the capital stock is investment less depreciation, use a calculator or a computer spreadsheet to show how the capital stock per worker will evolve over time in both countries. calculate income per worker and consumpti..
In solving the problem,when your taxable income lies exactly on the border of the 22% bracket ( so that adding one dollar takes it to the beginning of the net bracket), choose the next bracket i.e. 26% as the marginal rate for your federal tax, t..
The payouts for the Powerball lottery and their corresponding odds and probabilities of occurrence are shown below. The price of a ticket is $1.00. Find the mean and standard deviation of the payout.
If the demand and supply curve for computers are: D = 100 - 6P, S = 28 + 3P where P is the price of computers, what is the quantity of computers bought and sold at equilibrium.
An economy consists of two regions, the North and the South. The short-run elasticity of labor demand in each region is -0.5. Labor supply is perfectly inelastic within both regions. The labor market is initially in an economywide equilibrium
How does a minimum wage imposed under monopsony differ in results as compared with a minimum wage imposed under perfect competition? (Assume the minimum wage is above the market-determined wage.)
what would an LM curve look like in a Quantity Theory world where velocity is fixed and is not impacted by interest rates (that is, M=kPY) what do you think would drive interest rates in such an environment
Explain why the fixed effects estimates are less likely to be biased than the OLS estimates. Explain whether the most reliable estimates in Table1 provide evidence in support of the Peltzman effect.
Suppose M=$100, and prices are P1= $20 andP2= $20; calculate the utility maximizing quantities ofX1 and X2. If price of good 1 drops to $10,what would be the demand for X1. Using this information,draw a demand curve of X1.
Show that the model can be estimated using only the inner products K(xi , xi ‘ ) = h(xi), h(xi ‘)). Hence the kernel property of support vector machines is also shared by regularized linear discriminant analysis.
What is the value added at each stage of production? Using the value-added approach, what is GDP? c. What are the total wages and profits earned? Using the income approach, what is GDP?
Assume a firm is a monopsonist that can hire its first worker for $6 but must increase the wage rate by $3 to attract each successive worker (so that the second worker must be paid $9, the third $12, and so on). The marginal revenue product of lab..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd