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Social security in the Diamond model. Consider a Diamond economy where g is zero, production is Cobb-Douglas, and utility is logarithmic.
(a) Pay-as-you-go social security. Suppose the government taxes each young individual an amount T and uses the proceeds to pay benefits to old individuals; thus each old person receives (1 + n)T.
(i) How, if at all, does this change affect equation (2.60) giving kt +1 as a function of kt?
(ii) How, if at all, does this change affect the balanced-growth-path value of k?
(iii) If the economy is initially on a balanced growth path that is dynamically efficient, how does a marginal increase in T affect the welfare of current and future generations? What happens if the initial balanced growth path is dynamically inefficient?
The manager of a global opportunities for a U .S. manufacturer, who is considering expanding sales into Europe. Your market research has identified three potential market opportunities:
in the system of approval voting each voter may vote for as many candidates as she wishes. if there are three
(b) How does an increase in the initial stock affect the immediate harvest of a renewable and a nonrenewable resource? Does it have the same or different qualitative effect?
1. for each of the determinants of demand in equation 2.1 identify an example illustrating the effect on the demand for
The speed in which the home page of a website is downloaded is an important quality characteristic of that website. Suppose that the mean time to download the home page of the Internal Revenue Service is 1.2 seconds.
High school students were interested in a teacher's claim that the longer the length of time (hours) that a student studies for a test, the higher the test scores. The students collected the data and the teacher did the regression analysis with the f..
Provide reasons for believing in the accuracy or inaccuracy of sensory information and discuss the roles of "nature" and "nurture" with regard to the interpretation and evaluation of sensory data.
Economists often study and evaluate economic policies by country or region. As an economist, evaluate different regional trading arrangements.
given the current pressures on china jamaica and america expressed in the article how would ethics play a role in
Normal 0 false false false EN-US X-NONE X-NONE Find the probability that t..
In an effort to reduce their total costs, many companies are now replacing paychecks with payroll cards, which are stored-value cards onto which the companies can download employees' wages and salaries electronically.
Suppose the government decides to raise the gasoline tax as a way of reducing air pollution and traffic congestion to their optimal levels. Which of the following describes why Pigovian taxes, such as gasoline tax, are unlike most other taxes?
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