Diploma Macro Paper 2
|
|
- Kory Austin
- 6 years ago
- Views:
Transcription
1 Diploma Macro Papr 2 Montary Macroconomics Lctur 6 Aggrgat supply and putting AD and AS togthr Mark Hays 1
2 Exognous: M, G, T, i*, π Goods markt KX and IS (Y, C, I) Mony markt (LM) (i, Y) Labour markt (P, Y) AS IS-LM (i, Y, C, I) AD Phillips Curv (π,u) AD-AS (P, i, Y, C, I) Forign xchang markt (NX, ) IS*-LM* (, Y, C, NX) AD* AD*-AS (P,, Y, C, NX)
3 Exognous: M, G, T, i*, π Goods markt KX and IS (Y, C, I) Mony markt (LM) (i, Y) Labour markt (P, Y) AS IS-LM (i, Y, C, I) AD Phillips Curv (π,u) AD-AS (P, i, Y, C, I) Forign xchang markt (NX, ) IS*-LM* (, Y, C, NX) AD* AD*-AS (P,, Y, C, NX)
4 Driving th AD* curv Why AD* curv has ngativ slop: P (M/P) LM shifts lft ε NX Y ε ε 2 ε 1 P P 2 P 1 LM*(P 2 ) LM*(P 1 ) Y 2 Y 1 Y 2 Y 1 IS* Y AD* Y 4
5 Mundll-Flming and th AD* curv Prviously P was fixd, now w ar changing it. NX is a function of ε, not. W now writ th M-F quations as: : ε :, This mans that th diagram dos not show us th q m for but w do not nd this xplicit for AD* 5
6 Th ffct of an incras in dmand in th short run and th long run A = initial (full mploymnt) quilibrium P LRAS B = nw short-run q m aftr a boom in confidnc P 2 P 1 A C B SRAS 2 SRAS 1 AD 2 C = long-run quilibrium Y Y 2 AD 1 Y 6
7 Kyns s original AD-AS modl D xpctd incom AS AD D * Effctiv dmand mploymnt, N Equilibrium mploymnt 7
8 A post-kynsian AD-AS modl in P, Y spac P AD LRAS SRAS Y _ Y Y 8
9 P AD LRAS P SRAS _ Y Y 9
10 Thr modls of aggrgat supply 1. Th imprfct-information modl 2. Th sticky-pric modl 3. Th sticky-wag modl All thr modls imply: agg. output natural rat of output Y = Y + α ( P P ) a positiv paramtr th actual pric lvl th xpctd pric lvl 10
11 Thr modls of aggrgat supply 1. Th imprfct-information modl 2. Th sticky-pric modl 3. Th sticky-wag modl All thr modls imply: Dviations in output a positiv paramtr Dviations in pric lvl from xpctation 11
12 Th imprfct-information modl Assumptions: All wags and prics ar prfctly flxibl, all markts clar Each supplir producs on good, consums many goods. Supply of ach good dpnds on its rlativ pric: th nominal pric of th good dividd by th ovrall pric lvl. 12
13 Th imprfct-information modl All supplirs know th nominal pric of th good thy produc, but do not know th gnral pric lvl. Supplir dos not know gnral pric lvl at th tim of th production dcision, so uss th xpctd pric lvl, P. Suppos P riss but P dos not. Supplir thinks it is thir own rlativ pric which has risn, so producs mor. With many producrs thinking this way, Y will ris whnvr P riss abov P. 13
14 Th sticky-pric modl Assumption: Firms st thir own prics (monopolistic comptition). Rasons for sticky prics: long-trm contracts btwn firms and customrs mnu costs firms not wishing to annoy customrs with frqunt pric changs 14
15 Th sticky-pric modl An individual firm s dsird pric is whr a > 0. p = P + a ( Y Y ) Suppos two typs of firms: firms with flxibl prics, st prics as abov firms with sticky prics, must st thir pric bfor thy know how P and Y will turn out: p = P + a ( Y Y ) 15
16 Th sticky-pric modl p = P + a ( Y Y ) Assum sticky pric firms xpct that output will qual its natural rat. Thn, p = P To driv th aggrgat supply curv, w first find an xprssion for th ovrall pric lvl. Lt s dnot th fraction of firms with sticky prics. Thn, w can writ th ovrall pric lvl as 16
17 Th sticky-pric modl P = s P + (1 s)[ P + a( Y Y )] pric st by sticky pric firms pric st by flxibl pric firms (1 s) a P = P + ( Y Y ) s Y = Y + α ( P P ), whr α = s ( 1 s ) a 17
18 Th sticky-wag modl Assums that firms and workrs ngotiat contracts and fix th mony wag bfor thy know what th pric lvl will turn out to b. Th mony wag thy st is th product of a targt ral wag and th xpctd pric lvl: W = ω P W P = ω P P Targt ral wag 18
19 19
20 Th sticky-wag modl If it turns out that P = P P > P W P P = ω P thn Unmploymnt and output ar at thir natural rats. Ral wag is lss than its targt, so firms hir mor workrs and output riss abov its natural rat. P < P Ral wag xcds its targt, so firms hir fwr workrs and output falls blow its natural rat. 20
21 Chart 4.6 Ral product wags, labour markt slack and productivity Sourcs: ONS (including th Labour Forc Survy) and Bank calculations. (a) (b) (c) Hadlin unmploymnt rat lss th cntral Bank staff stimat of th mdium-trm quilibrium unmploymnt rat. For dtails, s th box on pags of th August 2013 Rport. Privat sctor AWE total pay dflatd by th markt sctor gross valu addd dflator. Markt sctor output pr workr. 21
22 Summary & implications P LRAS Y = Y + α ( P P ) P > P P = P P < P Y SRAS Y Each of th thr modls of agg. supply imply th rlationship summarizd by th SRAS curv & quation. 22
23 Summary & implications Suppos a positiv AD shock movs output abov its natural rat and P abov th lvl popl had xpctd. Ovr tim, P riss, SRAS shifts up, P 2 = and output rturns to its natural rat. P SRAS quation: = P 3 3 P 2 P = P P 1 1 Y = 3 Y = Y + P P LRAS Y1 = Y α ( ) SRAS 2 Y 2 SRAS 1 AD 2 AD 1 Y 23
24 Exognous: M, G, T, i*, π Goods markt KX and IS (Y, C, I) Mony markt (LM) (i, Y) Labour markt (P, Y) AS IS-LM (i, Y, C, I) AD Phillips Curv (π,u) AD-AS (P, i, Y, C, I) Forign xchang markt (NX, ) IS*-LM* (, Y, C, NX) AD* AD*-AS (P,, Y, C, NX) 24
25 Inflation, Unmploymnt, and th Phillips Curv Th Phillips curv stats that π dpnds on xpctd inflation, π. cyclical unmploymnt: th dviation of th actual rat of unmploymnt from th natural rat supply shocks, ν (Grk lttr nu ). n π = π β ( u u ) + ν whr β > 0 is an xognous constant. 25
26 Th Phillips Curv and SRAS SRAS Phillips curv / SRAS curv: Dviations in output ar rlatd to unxpctd movmnts in th pric lvl. Phillips curv: Dviations in unmploymnt ar rlatd to unxpctd movmnts in th inflation rat. 26
27 27
28 28
29 29
30 Exognous: M, G, T, i*, π Goods markt KX and IS (Y, C, I) Mony markt (LM) (i, Y) Labour markt (P, Y) AS IS-LM (i, Y, C, I) AD Phillips Curv (π,u) AD-AS (P, i, Y, C, I) Forign xchang markt (NX, ) IS*-LM* (, Y, C, NX) AD* AD*-AS (P,, Y, C, NX) 30
31 Nxt trm Policy ffctivnss and inflation targting Origins of th North Atlantic and Euro criss 31
Chapter 13 Aggregate Supply
Chaptr 13 Aggrgat Supply 0 1 Larning Objctivs thr modls of aggrgat supply in which output dpnds positivly on th pric lvl in th short run th short-run tradoff btwn inflation and unmploymnt known as th Phillips
More informationChapter 14 Aggregate Supply and the Short-run Tradeoff Between Inflation and Unemployment
Chaptr 14 Aggrgat Supply and th Short-run Tradoff Btwn Inflation and Unmploymnt Modifid by Yun Wang Eco 3203 Intrmdiat Macroconomics Florida Intrnational Univrsity Summr 2017 2016 Worth Publishrs, all
More informationInflation and Unemployment
C H A P T E R 13 Aggrgat Supply and th Short-run Tradoff Btwn Inflation and Unmploymnt MACROECONOMICS SIXTH EDITION N. GREGORY MANKIW PowrPoint Slids by Ron Cronovich 2008 Worth Publishrs, all rights rsrvd
More informationdr Bartłomiej Rokicki Chair of Macroeconomics and International Trade Theory Faculty of Economic Sciences, University of Warsaw
dr Bartłomij Rokicki Chair of Macroconomics and Intrnational Trad Thory Faculty of Economic Scincs, Univrsity of Warsaw dr Bartłomij Rokicki Opn Economy Macroconomics Small opn conomy. Main assumptions
More information4. Money cannot be neutral in the short-run the neutrality of money is exclusively a medium run phenomenon.
PART I TRUE/FALSE/UNCERTAIN (5 points ach) 1. Lik xpansionary montary policy, xpansionary fiscal policy rturns output in th mdium run to its natural lvl, and incrass prics. Thrfor, fiscal policy is also
More information11/11/2018. Chapter 14 8 th and 9 th edition. Aggregate Supply and the Short-run Tradeoff Between Inflation and Unemployment.
Chaptr 14 8 th and 9 th dition Aggrgat Supply and th Short-run Tradoff Btwn Inflation and Unmploymnt W covr modls of aggrgat supply in which output dpnds positivly on th pric lvl in th short run. th short-run
More informationLearning objectives. Three models of aggregate supply. 1. The sticky-wage model 2. The imperfect-information model 3. The sticky-price model
Larig objctivs thr modls of aggrgat supply i which output dpds positivly o th pric lvl i th short ru th short-ru tradoff btw iflatio ad umploymt kow as th Phillips curv Aggrgat Supply slid 1 Thr modls
More informationmacro Road map to this lecture Objectives Aggregate Supply and the Phillips Curve Three models of aggregate supply W = ω P The sticky-wage model
Road map to this lctur macro Aggrgat Supply ad th Phillips Curv W rlax th assumptio that th aggrgat supply curv is vrtical A vrsio of th aggrgat supply i trms of iflatio (rathr tha th pric lvl is calld
More informationExchange rates in the long run (Purchasing Power Parity: PPP)
Exchang rats in th long run (Purchasing Powr Parity: PPP) Jan J. Michalk JJ Michalk Th law of on pric: i for a product i; P i = E N/ * P i Or quivalntly: E N/ = P i / P i Ida: Th sam product should hav
More informationThe Open Economy in the Short Run
Economics 442 Mnzi D. Chinn Spring 208 Social Scincs 748 Univrsity of Wisconsin-Madison Th Opn Economy in th Short Run This st of nots outlins th IS-LM modl of th opn conomy. First, it covrs an accounting
More informationIntermediate Macroeconomics: New Keynesian Model
Intrmdiat Macroconomics: Nw Kynsian Modl Eric Sims Univrsity of Notr Dam Fall 23 Introduction Among mainstram acadmic conomists and policymakrs, th lading altrnativ to th ral businss cycl thory is th Nw
More information+ f. e f. Ch. 8 Inflation, Interest Rates & FX Rates. Purchasing Power Parity. Purchasing Power Parity
Ch. 8 Inlation, Intrst Rats & FX Rats Topics Purchasing Powr Parity Intrnational Fishr Ect Purchasing Powr Parity Purchasing Powr Parity (PPP: Th purchasing powr o a consumr will b similar whn purchasing
More informationThe Ramsey Model. Reading: Firms. Households. Behavior of Households and Firms. Romer, Chapter 2-A;
Th Ramsy Modl Rading: Romr, Chaptr 2-A; Dvlopd by Ramsy (1928), latr dvlopd furthr by Cass (1965) and Koopmans (1965). Similar to th Solow modl: labor and knowldg grow at xognous rats. Important diffrnc:
More informationVALUING SURRENDER OPTIONS IN KOREAN INTEREST INDEXED ANNUITIES
VALUING SURRENDER OPTIONS IN KOREAN INTEREST INDEXED ANNUITIES Changi Kim* * Dr. Changi Kim is Lcturr at Actuarial Studis Faculty of Commrc & Economics Th Univrsity of Nw South Wals Sydny NSW 2052 Australia.
More information22/ Breakdown of the Born-Oppenheimer approximation. Selection rules for rotational-vibrational transitions. P, R branches.
Subjct Chmistry Papr No and Titl Modul No and Titl Modul Tag 8/ Physical Spctroscopy / Brakdown of th Born-Oppnhimr approximation. Slction ruls for rotational-vibrational transitions. P, R branchs. CHE_P8_M
More informationAddition of angular momentum
Addition of angular momntum April, 07 Oftn w nd to combin diffrnt sourcs of angular momntum to charactriz th total angular momntum of a systm, or to divid th total angular momntum into parts to valuat
More informationWhere k is either given or determined from the data and c is an arbitrary constant.
Exponntial growth and dcay applications W wish to solv an quation that has a drivativ. dy ky k > dx This quation says that th rat of chang of th function is proportional to th function. Th solution is
More informationBifurcation Theory. , a stationary point, depends on the value of α. At certain values
Dnamic Macroconomic Thor Prof. Thomas Lux Bifurcation Thor Bifurcation: qualitativ chang in th natur of th solution occurs if a paramtr passs through a critical point bifurcation or branch valu. Local
More informationTwo Products Manufacturer s Production Decisions with Carbon Constraint
Managmnt Scinc and Enginring Vol 7 No 3 pp 3-34 DOI:3968/jms9335X374 ISSN 93-34 [Print] ISSN 93-35X [Onlin] wwwcscanadant wwwcscanadaorg Two Products Manufacturr s Production Dcisions with Carbon Constraint
More informationr m r m 1 r m 2 y 1 y 2
An Explanation (Using th ISLM Modl) of How Volatilit in Expctations About th Profitabilit of Futur Invstmnt Projcts Can Mak Aggrgat Dmand Itslf Volatil. Th ISLM modl is a combination of two conomic modls;
More informationAggregate Supply, Output Fluctuations and Policy Neutrality
Douglas Hibbs Macro Thory 2004 05 07 Aggrgat Supply, Output Fluctuations and Policy Nutrality In this lctur I ll illustrat how svral spci c routs by which nominal misprcptions may caus output uctuations
More informationEXST Regression Techniques Page 1
EXST704 - Rgrssion Tchniqus Pag 1 Masurmnt rrors in X W hav assumd that all variation is in Y. Masurmnt rror in this variabl will not ffct th rsults, as long as thy ar uncorrlatd and unbiasd, sinc thy
More informationA Propagating Wave Packet Group Velocity Dispersion
Lctur 8 Phys 375 A Propagating Wav Packt Group Vlocity Disprsion Ovrviw and Motivation: In th last lctur w lookd at a localizd solution t) to th 1D fr-particl Schrödingr quation (SE) that corrsponds to
More informationInheritance Gains in Notional Defined Contributions Accounts (NDCs)
Company LOGO Actuarial Tachrs and Rsarchrs Confrnc Oxford 14-15 th July 211 Inhritanc Gains in Notional Dfind Contributions Accounts (NDCs) by Motivation of this papr In Financial Dfind Contribution (FDC)
More information(, ) which is a positively sloping curve showing (Y,r) for which the money market is in equilibrium. The P = (1.4)
ots lctu Th IS/LM modl fo an opn conomy is basd on a fixd pic lvl (vy sticky pics) and consists of a goods makt and a mony makt. Th goods makt is Y C+ I + G+ X εq (.) E SEK wh ε = is th al xchang at, E
More informationMath 34A. Final Review
Math A Final Rviw 1) Us th graph of y10 to find approimat valus: a) 50 0. b) y (0.65) solution for part a) first writ an quation: 50 0. now tak th logarithm of both sids: log() log(50 0. ) pand th right
More informationAnswer Homework 5 PHA5127 Fall 1999 Jeff Stark
Answr omwork 5 PA527 Fall 999 Jff Stark A patint is bing tratd with Drug X in a clinical stting. Upon admiion, an IV bolus dos of 000mg was givn which yildd an initial concntration of 5.56 µg/ml. A fw
More informationSec 2.3 Modeling with First Order Equations
Sc.3 Modling with First Ordr Equations Mathmatical modls charactriz physical systms, oftn using diffrntial quations. Modl Construction: Translating physical situation into mathmatical trms. Clarly stat
More informationWhat are those βs anyway? Understanding Design Matrix & Odds ratios
Ral paramtr stimat WILD 750 - Wildlif Population Analysis of 6 What ar thos βs anyway? Undrsting Dsign Matrix & Odds ratios Rfrncs Hosmr D.W.. Lmshow. 000. Applid logistic rgrssion. John Wily & ons Inc.
More informationAddition of angular momentum
Addition of angular momntum April, 0 Oftn w nd to combin diffrnt sourcs of angular momntum to charactriz th total angular momntum of a systm, or to divid th total angular momntum into parts to valuat th
More informationMarket power, Growth and Unemployment
Markt powr, Growth and Unmploymnt Pitro F Prtto Dpartmnt of Economics, Duk Univrsity Jun 13, 2011 Abstract I prsnt a modl whr firms and workrs st wags abov th markt-claring lvl Unmploymnt is thus gnratd
More informationLecture 37 (Schrödinger Equation) Physics Spring 2018 Douglas Fields
Lctur 37 (Schrödingr Equation) Physics 6-01 Spring 018 Douglas Filds Rducd Mass OK, so th Bohr modl of th atom givs nrgy lvls: E n 1 k m n 4 But, this has on problm it was dvlopd assuming th acclration
More informationEconomics 302 (Sec. 001) Intermediate Macroeconomic Theory and Policy (Spring 2011) 4/25/2011. UW Madison
conomics 302 (Sc. 001) Inrmdia Macroconomic Thory and Policy (Spring 2011) 4/25/2011 Insrucor: Prof. Mnzi Chinn Insrucor: Prof. Mnzi Chinn UW Madison 21 1 Th Mdium Run ε = P * P Thr ar wo ways in which
More informationRandom Process Part 1
Random Procss Part A random procss t (, ζ is a signal or wavform in tim. t : tim ζ : outcom in th sampl spac Each tim w rapat th xprimnt, a nw wavform is gnratd. ( W will adopt t for short. Tim sampls
More informationAN ELEMENTAL MACROE ECONOMIC MODEL FOR APPLIED ANALYSIS AT UNDERGRADUATE LEVEL
ECONOMICS AN ELEMENTAL MACROECONOMIC MODEL FOR ALIED ANALSIS AT UNDERGRADUATE LEVEL by Rod Tyrs Busin ss School Th Univrsity of Wst rn Australia and ANU Rsarch School of Economics DISCUSSION AER 11.11
More informationThe pn junction: 2 Current vs Voltage (IV) characteristics
Th pn junction: Currnt vs Voltag (V) charactristics Considr a pn junction in quilibrium with no applid xtrnal voltag: o th V E F E F V p-typ Dpltion rgion n-typ Elctron movmnt across th junction: 1. n
More information15. Stress-Strain behavior of soils
15. Strss-Strain bhavior of soils Sand bhavior Usually shard undr draind conditions (rlativly high prmability mans xcss por prssurs ar not gnratd). Paramtrs govrning sand bhaviour is: Rlativ dnsity Effctiv
More informationeconstor Make Your Publications Visible.
constor Mak Your Publications Visibl. A Srvic o Wirtschat Cntr zbwlibniz-inormationszntrum conomics Natividad-Carlos Fidlina B. Working Papr xchang-rat ovrshooting: An analysis or intrmdiat macro Discussion
More informationWhile there is a consensus that monetary policy must be
Optimal Montary Policy in an Economy with Sticky Nominal Wags Evan F. Konig Rsarch Officr Fdral Rsrv Bank of Dallas Whil thr is a consnsus that montary policy must b conductd within a framwork in which
More informationMEASURING ECONOMIC IMPACT OF A DISASTER WITHOUT DOUBLE COUNTING: A THEORETICAL ANALYSIS
MEASURING ECONOMIC IMPACT OF A DISASTER WITHOUT DOUBLE COUNTING: A THEORETICAL ANALYSIS ABSTRACT : H. Tatano and K. Nakano Profssor, Disastr Prvntion Rsarch Institut, Kyoto Univrsity, Uji. Japan Ph.D Candidat,
More informationPartial Derivatives: Suppose that z = f(x, y) is a function of two variables.
Chaptr Functions o Two Variabls Applid Calculus 61 Sction : Calculus o Functions o Two Variabls Now that ou hav som amiliarit with unctions o two variabls it s tim to start appling calculus to hlp us solv
More informationPHYSICS 489/1489 LECTURE 7: QUANTUM ELECTRODYNAMICS
PHYSICS 489/489 LECTURE 7: QUANTUM ELECTRODYNAMICS REMINDER Problm st du today 700 in Box F TODAY: W invstigatd th Dirac quation it dscribs a rlativistic spin /2 particl implis th xistnc of antiparticl
More informationA Prey-Predator Model with an Alternative Food for the Predator, Harvesting of Both the Species and with A Gestation Period for Interaction
Int. J. Opn Problms Compt. Math., Vol., o., Jun 008 A Pry-Prdator Modl with an Altrnativ Food for th Prdator, Harvsting of Both th Spcis and with A Gstation Priod for Intraction K. L. arayan and. CH. P.
More informationare given in the table below. t (hours)
CALCULUS WORKSHEET ON INTEGRATION WITH DATA Work th following on notbook papr. Giv dcimal answrs corrct to thr dcimal placs.. A tank contains gallons of oil at tim t = hours. Oil is bing pumpd into th
More informationIntroduction to the quantum theory of matter and Schrödinger s equation
Introduction to th quantum thory of mattr and Schrödingr s quation Th quantum thory of mattr assums that mattr has two naturs: a particl natur and a wa natur. Th particl natur is dscribd by classical physics
More informationNetwork Congestion Games
Ntwork Congstion Gams Assistant Profssor Tas A&M Univrsity Collg Station, TX TX Dallas Collg Station Austin Houston Bst rout dpnds on othrs Ntwork Congstion Gams Travl tim incrass with congstion Highway
More informationMundell-Fleming I: Setup
Mundll-Flming I: Sup In ISLM, w had: E ( ) T I( i π G T C Y ) To his, w now add n xpors, which is a funcion of h xchang ra: ε E P* P ( T ) I( i π ) G T NX ( ) C Y Whr NX is assumd (Marshall Lrnr condiion)
More informationNUMBER 41. Internal and External Balance In a Centrally Planned Economy. Richard Partes Institute for International Economic Studies Stockholm
Copyright Th Wilson Cntr 1978 NUMBER 41 Intrnal and Extrnal Balanc In a Cntrally Plannd Economy Richard Parts Institut for Intrnational Economic Studis Stockholm Confrnc on th Impact of Intrnational Economic
More informationMultiple Short Term Infusion Homework # 5 PHA 5127
Multipl Short rm Infusion Homwork # 5 PHA 527 A rug is aministr as a short trm infusion. h avrag pharmacokintic paramtrs for this rug ar: k 0.40 hr - V 28 L his rug follows a on-compartmnt boy mol. A 300
More informationMEMORIAL UNIVERSITY OF NEWFOUNDLAND
MEMORIAL UNIVERSITY OF NEWFOUNDLAND DEPARTMENT OF MATHEMATICS AND STATISTICS Midtrm Examination Statistics 2500 001 Wintr 2003 Nam: Studnt No: St by Dr. H. Wang OFFICE USE ONLY Mark: Instructions: 1. Plas
More informationCollisions between electrons and ions
DRAFT 1 Collisions btwn lctrons and ions Flix I. Parra Rudolf Pirls Cntr for Thortical Physics, Unirsity of Oxford, Oxford OX1 NP, UK This rsion is of 8 May 217 1. Introduction Th Fokkr-Planck collision
More information14.02 Principles of Macroeconomics Fall 2005 Quiz 3 Solutions
4.0 rincipl of Macroconomic Fall 005 Quiz 3 Soluion Shor Quion (30/00 poin la a whhr h following amn ar TRUE or FALSE wih a hor xplanaion (3 or 4 lin. Each quion coun 5/00 poin.. An incra in ax oday alway
More informationph People Grade Level: basic Duration: minutes Setting: classroom or field site
ph Popl Adaptd from: Whr Ar th Frogs? in Projct WET: Curriculum & Activity Guid. Bozman: Th Watrcours and th Council for Environmntal Education, 1995. ph Grad Lvl: basic Duration: 10 15 minuts Stting:
More informationChapter 13 GMM for Linear Factor Models in Discount Factor form. GMM on the pricing errors gives a crosssectional
Chaptr 13 GMM for Linar Factor Modls in Discount Factor form GMM on th pricing rrors givs a crosssctional rgrssion h cas of xcss rturns Hors rac sting for charactristic sting for pricd factors: lambdas
More informationCramér-Rao Inequality: Let f(x; θ) be a probability density function with continuous parameter
WHEN THE CRAMÉR-RAO INEQUALITY PROVIDES NO INFORMATION STEVEN J. MILLER Abstract. W invstigat a on-paramtr family of probability dnsitis (rlatd to th Parto distribution, which dscribs many natural phnomna)
More informationTHE SHORT-RUN AGGREGATE SUPPLY CURVE WITH A POSITIVE SLOPE. Based on EXPECTATIONS: Lecture. t t t t
THE SHORT-RUN AGGREGATE SUL CURVE WITH A OSITIVE SLOE. Basd on EXECTATIONS: Lcur., 0. In Mankiw:, 0 Ths quaions sa ha oupu dvias from is naural ra whn h pric lvl dvias from h xpcd pric lvl. Th paramr a
More informationEstimation of apparent fraction defective: A mathematical approach
Availabl onlin at www.plagiarsarchlibrary.com Plagia Rsarch Library Advancs in Applid Scinc Rsarch, 011, (): 84-89 ISSN: 0976-8610 CODEN (USA): AASRFC Estimation of apparnt fraction dfctiv: A mathmatical
More informationElements of Statistical Thermodynamics
24 Elmnts of Statistical Thrmodynamics Statistical thrmodynamics is a branch of knowldg that has its own postulats and tchniqus. W do not attmpt to giv hr vn an introduction to th fild. In this chaptr,
More information(1) Then we could wave our hands over this and it would become:
MAT* K285 Spring 28 Anthony Bnoit 4/17/28 Wk 12: Laplac Tranform Rading: Kohlr & Johnon, Chaptr 5 to p. 35 HW: 5.1: 3, 7, 1*, 19 5.2: 1, 5*, 13*, 19, 45* 5.3: 1, 11*, 19 * Pla writ-up th problm natly and
More informationLINEAR DELAY DIFFERENTIAL EQUATION WITH A POSITIVE AND A NEGATIVE TERM
Elctronic Journal of Diffrntial Equations, Vol. 2003(2003), No. 92, pp. 1 6. ISSN: 1072-6691. URL: http://jd.math.swt.du or http://jd.math.unt.du ftp jd.math.swt.du (login: ftp) LINEAR DELAY DIFFERENTIAL
More informationHigh Energy Physics. Lecture 5 The Passage of Particles through Matter
High Enrgy Physics Lctur 5 Th Passag of Particls through Mattr 1 Introduction In prvious lcturs w hav sn xampls of tracks lft by chargd particls in passing through mattr. Such tracks provid som of th most
More informationVI. Economic Interdependence and Choice of Exchange Rate Regimes
Sahoko KAJI --- Opn Economy Macroconomics Lctur Nots VI VI. Economic Intrdpndnc and Choic of Exchang Rat Rgims In th last sction of this lctur, w tak up th issu of choic of xchang rat rgims undr conomic
More informationExam 1. It is important that you clearly show your work and mark the final answer clearly, closed book, closed notes, no calculator.
Exam N a m : _ S O L U T I O N P U I D : I n s t r u c t i o n s : It is important that you clarly show your work and mark th final answr clarly, closd book, closd nots, no calculator. T i m : h o u r
More informationSection 11.6: Directional Derivatives and the Gradient Vector
Sction.6: Dirctional Drivativs and th Gradint Vctor Practic HW rom Stwart Ttbook not to hand in p. 778 # -4 p. 799 # 4-5 7 9 9 35 37 odd Th Dirctional Drivativ Rcall that a b Slop o th tangnt lin to th
More informationSearch sequence databases 3 10/25/2016
Sarch squnc databass 3 10/25/2016 Etrm valu distribution Ø Suppos X is a random variabl with probability dnsity function p(, w sampl a larg numbr S of indpndnt valus of X from this distribution for an
More informationQuasi-Classical States of the Simple Harmonic Oscillator
Quasi-Classical Stats of th Simpl Harmonic Oscillator (Draft Vrsion) Introduction: Why Look for Eignstats of th Annihilation Oprator? Excpt for th ground stat, th corrspondnc btwn th quantum nrgy ignstats
More informationELECTRON-MUON SCATTERING
ELECTRON-MUON SCATTERING ABSTRACT Th lctron charg is considrd to b distributd or xtndd in spac. Th diffrntial of th lctron charg is st qual to a function of lctron charg coordinats multiplid by a four-dimnsional
More informationPrice Co-Movements and Investment Funds
Pric Co-Movmnts and nvstmnt Funds Maryam Sami Dpartmnt of Economics, Stony Brook nivrsity Job Markt Papr Abstract This papr discusss pric co-movmnts btwn fundamntally indpndnt financial markts populatd
More informationText: WMM, Chapter 5. Sections , ,
Lcturs 6 - Continuous Probabilit Distributions Tt: WMM, Chaptr 5. Sctions 6.-6.4, 6.6-6.8, 7.-7. In th prvious sction, w introduc som of th common probabilit distribution functions (PDFs) for discrt sampl
More information1973 AP Calculus AB: Section I
97 AP Calculus AB: Sction I 9 Minuts No Calculator Not: In this amination, ln dnots th natural logarithm of (that is, logarithm to th bas ).. ( ) d= + C 6 + C + C + C + C. If f ( ) = + + + and ( ), g=
More information2/12/2013. Overview. 12-Power Transmission Text: Conservation of Complex Power. Introduction. Power Transmission-Short Line
//03 Ovrviw -owr Transmission Txt: 4.6-4.0 ECEGR 45 owr ystms Consrvation of Complx owr hort in owr Transmission owr Transmission isualization Radial in Mdium and ong in owr Transmission oltag Collaps
More information2008 AP Calculus BC Multiple Choice Exam
008 AP Multipl Choic Eam Nam 008 AP Calculus BC Multipl Choic Eam Sction No Calculator Activ AP Calculus 008 BC Multipl Choic. At tim t 0, a particl moving in th -plan is th acclration vctor of th particl
More informationChapter 8: Electron Configurations and Periodicity
Elctron Spin & th Pauli Exclusion Principl Chaptr 8: Elctron Configurations and Priodicity 3 quantum numbrs (n, l, ml) dfin th nrgy, siz, shap, and spatial orintation of ach atomic orbital. To xplain how
More informationRegional Equilibrium Unemployment Theory at the Age of the Internet
Rgional Equilibrium Unmploymnt Thory at th Ag of th Intrnt Vanssa Lutgn IRES, Univrsité Catholiqu d Louvain Bruno Van dr Lindn FNRS, IRES, Univrsité Catholiqu d Louvain, IZA and CESifo January 8, 2014
More information8 Equilibrium Analysis in a Pure Exchange Model
8 Equilibrium Analysis in a Pur Exchang Modl So far w hav only discussd dcision thory. That is, w hav lookd at consumr choic problms on th form s.t. p 1 x 1 + p 2 x 2 m: max u (x 1 ; x 2 ) x 1 ;x 2 Th
More informationIntroduction - the economics of incomplete information
Introdction - th conomics of incomplt information Backgrond: Noclassical thory of labor spply: No nmploymnt, individals ithr mployd or nonparticipants. Altrnativs: Job sarch Workrs hav incomplt info on
More informationCh. 24 Molecular Reaction Dynamics 1. Collision Theory
Ch. 4 Molcular Raction Dynamics 1. Collision Thory Lctur 16. Diffusion-Controlld Raction 3. Th Matrial Balanc Equation 4. Transition Stat Thory: Th Eyring Equation 5. Transition Stat Thory: Thrmodynamic
More informationApplied Statistics II - Categorical Data Analysis Data analysis using Genstat - Exercise 2 Logistic regression
Applid Statistics II - Catgorical Data Analysis Data analysis using Gnstat - Exrcis 2 Logistic rgrssion Analysis 2. Logistic rgrssion for a 2 x k tabl. Th tabl blow shows th numbr of aphids aliv and dad
More informationErrata. Items with asterisks will still be in the Second Printing
Errata Itms with astrisks will still b in th Scond Printing Author wbsit URL: http://chs.unl.du/edpsych/rjsit/hom. P7. Th squar root of rfrrd to σ E (i.., σ E is rfrrd to not Th squar root of σ E (i..,
More informationPHYS-333: Problem set #2 Solutions
PHYS-333: Problm st #2 Solutions Vrsion of March 5, 2016. 1. Visual binary 15 points): Ovr a priod of 10 yars, two stars sparatd by an angl of 1 arcsc ar obsrvd to mov through a full circl about a point
More informationMathematics 1110H Calculus I: Limits, derivatives, and Integrals Trent University, Summer 2018 Solutions to the Actual Final Examination
Mathmatics H Calculus I: Limits, rivativs, an Intgrals Trnt Univrsity, Summr 8 Solutions to th Actual Final Eamination Tim-spac: 9:-: in FPHL 7. Brought to you by Stfan B lan k. Instructions: Do parts
More information5.80 Small-Molecule Spectroscopy and Dynamics
MIT OpnCoursWar http://ocw.mit.du 5.80 Small-Molcul Spctroscopy and Dynamics Fall 008 For information about citing ths matrials or our Trms of Us, visit: http://ocw.mit.du/trms. Lctur # 3 Supplmnt Contnts
More informationInflation, Employment and Liquidity Preference in a Stock- Flow Consistent Model *
Inflation, Employmnt and Liquidity Prfrnc in a Stock- Flow Consistnt Modl * Yannis afrmos Prliminary draft, Octobr 5, 2009 Abstract: his papr dvlops a stock-flow consistnt modl that intgrats th rol of
More informationAbstract Interpretation: concrete and abstract semantics
Abstract Intrprtation: concrt and abstract smantics Concrt smantics W considr a vry tiny languag that manags arithmtic oprations on intgrs valus. Th (concrt) smantics of th languags cab b dfind by th funzcion
More informationThe Matrix Exponential
Th Matrix Exponntial (with xrciss) by D. Klain Vrsion 207.0.05 Corrctions and commnts ar wlcom. Th Matrix Exponntial For ach n n complx matrix A, dfin th xponntial of A to b th matrix A A k I + A + k!
More informationCS 361 Meeting 12 10/3/18
CS 36 Mting 2 /3/8 Announcmnts. Homwork 4 is du Friday. If Friday is Mountain Day, homwork should b turnd in at my offic or th dpartmnt offic bfor 4. 2. Homwork 5 will b availabl ovr th wknd. 3. Our midtrm
More informationBackground: We have discussed the PIB, HO, and the energy of the RR model. In this chapter, the H-atom, and atomic orbitals.
Chaptr 7 Th Hydrogn Atom Background: W hav discussd th PIB HO and th nrgy of th RR modl. In this chaptr th H-atom and atomic orbitals. * A singl particl moving undr a cntral forc adoptd from Scott Kirby
More information7' The growth of yeast, a microscopic fungus used to make bread, in a test tube can be
N Sction A: Pur Mathmatics 55 marks] / Th rgion R is boundd by th curv y, th -ais, and th lins = V - +7 and = m, whr m >. Find th volum gnratd whn R is rotatd through right angls about th -ais, laving
More informationA land market cycle in the Netherlands
A land markt cycl in th Nthrlands Woltjr G.B., Luijt J.L. and Jongnl, R. Papr prpard for prsntation at th 12 th EAAE Congrss Popl, Food and Environmnts: Global Trnds and Europan Stratgis, Gnt (Blgium),
More informationa 1and x is any real number.
Calcls Nots Eponnts an Logarithms Eponntial Fnction: Has th form y a, whr a 0, a an is any ral nmbr. Graph y, Graph y ln y y Th Natral Bas (Elr s nmbr): An irrational nmbr, symboliz by th lttr, appars
More informationEconomics 201b Spring 2010 Solutions to Problem Set 3 John Zhu
Economics 20b Spring 200 Solutions to Problm St 3 John Zhu. Not in th 200 vrsion of Profssor Andrson s ctur 4 Nots, th charactrization of th firm in a Robinson Cruso conomy is that it maximizs profit ovr
More informationConstants and Conversions:
EXAM INFORMATION Radial Distribution Function: P 2 ( r) RDF( r) Br R( r ) 2, B is th normalization constant. Ordr of Orbital Enrgis: Homonuclar Diatomic Molculs * * * * g1s u1s g 2s u 2s u 2 p g 2 p g
More informationHydrogen Atom and One Electron Ions
Hydrogn Atom and On Elctron Ions Th Schrödingr quation for this two-body problm starts out th sam as th gnral two-body Schrödingr quation. First w sparat out th motion of th cntr of mass. Th intrnal potntial
More informationGradebook & Midterm & Office Hours
Your commnts So what do w do whn on of th r's is 0 in th quation GmM(1/r-1/r)? Do w nd to driv all of ths potntial nrgy formulas? I don't undrstand springs This was th first lctur I actually larnd somthing
More informationApplied Econometrics and International Development. AEID.Vol. 6-1 (2006)
Applid Economtrics and Intrnational Dvlopmnt. AEID.Vol. 6-1 (2006) DETERMINANTS OF EXCHANGE RATE FLUCTUATIONS FOR VENEZUELA: APPLICATION OF AN EXTENDED MUNDELL-FLEMING MODEL HSING, u * Abstract Applying
More informationDivision of Mechanics Lund University MULTIBODY DYNAMICS. Examination Name (write in block letters):.
Division of Mchanics Lund Univrsity MULTIBODY DYNMICS Examination 7033 Nam (writ in block lttrs):. Id.-numbr: Writtn xamination with fiv tasks. Plas chck that all tasks ar includd. clan copy of th solutions
More informationProbability and Stochastic Processes: A Friendly Introduction for Electrical and Computer Engineers Roy D. Yates and David J.
Probability and Stochastic Procsss: A Frindly Introduction for Elctrical and Computr Enginrs Roy D. Yats and David J. Goodman Problm Solutions : Yats and Goodman,4.3. 4.3.4 4.3. 4.4. 4.4.4 4.4.6 4.. 4..7
More informationThe Matrix Exponential
Th Matrix Exponntial (with xrciss) by Dan Klain Vrsion 28928 Corrctions and commnts ar wlcom Th Matrix Exponntial For ach n n complx matrix A, dfin th xponntial of A to b th matrix () A A k I + A + k!
More information6. The Interaction of Light and Matter
6. Th Intraction of Light and Mattr - Th intraction of light and mattr is what maks lif intrsting. - Light causs mattr to vibrat. Mattr in turn mits light, which intrfrs with th original light. - Excitd
More informationThe growing evidence of Keynes s methodology advantage and its consequences within the four macro-markets framework*
N 01-2009 Th growing vidnc of Kyns s mthodology advantag and its consquncs within th four macro-markts framwork* Angl Asnsio CEPN, Univrsité Paris 13 CNRS This vrsion: Jun 2008 Abstract Rcnt dvlopmnts
More information