Intertemporal optimizing models of small and large open economies with nontradable goods
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Intertemporal optimizing models of small and large open economies with nontradable goods by Jonathan David Ostry

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Published .
Written in English

Book details:

Edition Notes

Statementby Jonathan David Ostry.
LC ClassificationsMicrofilm 88/2103 (H)
The Physical Object
Paginationvii, 203 leaves.
Number of Pages203
ID Numbers
Open LibraryOL2162009M
LC Control Number88891003

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the formulation of the life cycle and permanent income models (Modigliani and Brumberg, , and Friedman, ). These models combined theoretical consistency, in that intertemporal consumption and saving choices were set within a coherent optimization problem, with the ability of fitting most of the facts mentioned in the previous. International Macroeconomics Schmitt-Groh´e1 Uribe2 Woodford3 This draft: J [Chapters are preliminary and incomplete.] 1Columbia University.E-mail: [email protected] Intertemporal choice is the process by which people make decisions about what and how much to do at various points in time, when choices at one time influence the possibilities available at other points in time. These choices are influenced by the relative value people assign to two or more payoffs at different points in time. Most choices require decision-makers to trade off costs and. Lecture Notes on Intertemporal Production and Pricing you saw that book publishers typically price the hardbound and paperback versions of the book in a way that has little or nothing to do with the production costs of the book. In the case of a novel, for example, the hardbound version the extra widget today is the present value of all File Size: KB.

A Note on the Estimation of the Atemporal Elasticity of Substitution Between Tradable and Nontradable Goods Özge Akinci∗ Ap The atemporal elasticity of substitution between tradables and nontradables plays an important role in the analysis of the dynamic macroeconomic equilibrium models of a small open economy. Various. The primary aim of this book is to provide an easy-to-follow guide to the analytically much more demanding journal literature. This is achieved by using the same model type throughout the book and by adhering to functional specifications that allow for explicit equilibrium by: 8. factor, C, is consumption of goods at T, L, is leisure at T, and U is a function that is increasing and concave in its two arguments. 1. The models of Prescott and Mehra [, Long and Plosser [, and King and Plosser [, for example, exhibit this feature. Some models such asFile Size: KB. Start studying Macroeconomics Chapter Learn vocabulary, terms, and more with flashcards, games, and other study tools.

  Intertemporal macroeconomics links microeconomics and growth theory methods. The effects of policies are examined as the dynamic interaction between decisions of agents and policy interventions. The book explores the two basic approaches of models of infinitely-lived agents Pages: • Construct a real intertemporal model that will serve as a basis for studying money and business cycles in Chapters • Understand the investment decision of the firm. • Show how macroeconomic shocks affect the economy. • Focus on the implications of future File Size: 1MB. At the end of the future period, in the real intertemporal model with investment. the firm can sell its capital in exchange for consumption goods. When stock prices rise. According to Real Business Cycle models, fluctuations in economic activity are. Part I Deterministic models in discrete time Ch. 2 Two-period models and di⁄erence equations Ch. 3 Multi-period models , Part II Deterministic models in continuous time Ch. 4 Di⁄erential equations Ch. 5 Finite and in–nite horizon models , Ch. 6 In–nite horizon models again.