Macroeconomics - ECON 510 a , Fall 2010 , Yale University Growth
نویسنده
چکیده
Growth is an important topic in macroeconomics, which represents a large fraction of the literature and seeks to explain some facts in the long-term behavior of economies, complementing the also large literature about business cycle. These two topics are so relevant because macroeconomics is mostly worried about the first and second moments of macroeconomic activity (this is, development and cycles).
منابع مشابه
Macroeconomics - ECON 510 a , Fall 2010 , Yale University Limited Commitment
So far, we have focused on a complete market benchmark and studied its success and failure to match the data in several dimensions (business cycles, asset pricing and long run growth) and to understand optimal taxation. A key assumption in that context was perfect enforcement of contracts (in particular, perfect enforcement of state contingent claims). A key result in that context is perfect sm...
متن کاملMacroeconomics - ECON 510 a , Fall 2010 , Yale University Fiscal Policy
To study questions of taxation in the neo-classical growth model, we need to extend it to allow for government spending and taxation. Here we study the simplest possible model, where government spending is an exogenous stochastic process G(s). We assume that this spending is wasted (thrown into the ocean). It would be possible to amend the model to allow for example for the financing of public ...
متن کاملNber Working Paper Series Even the Representative Agent Must Die: Using Demographics to Inform Long-term Social Discount Rates
We develop a demographically-based approach for estimating the utility discount rate (UDR) portion of the Ramsey rule. We show how age-specific mortality rates and life expectancies imply a natural UDR for individuals at each age in a population, and these can be aggregated into a population-level social UDR. We then provide empirical estimates for nearly all countries and for the world as a wh...
متن کاملEstimating the Uzawa-Lucas Model for the U.S. and Germany
Numerous cross-sectional tests have been performed to evaluate the predictions of recent growth theories such as the Uzawa-Lucas growth model. In a series of papers and in his book, Jones (1995a, 1995b, 1997) has shifted the attention toward the time series predictions of endogenous growth models. By contrasting endogenous growth models with facts, one is frequently confronted with the predicti...
متن کاملGrowth Rates of Hip Height, Scrotal Circumference and Weight for Purebred Hereford and Angus Bulls
Story in Brief Seasonal differences and growth rates were studied on 60 Hereford and Angus bulls born in the spring and fall calving seasons at Oklahoma State University. Hip height, scrotal circumference and weight measurements were taken over the two IO-month experiments. Season of birth had no influence on scrotal circumference for either Hereford or Angus bulls. Season of birth in Angus bul...
متن کامل