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经济代写|ECON1120 Macroeconomics

Posted on 2023年4月26日2023年4月26日 by statistics-lab

Statistics-lab™可以为您提供cornell.edu ECON1120 Macroeconomics宏观经济学课程的代写代考和辅导服务！

ECON1120 Macroeconomics课程简介

Analysis of aggregate economic activity in relation to the level, stability, and growth of national income. Topics may include the determination and effects of unemployment, inflation, balance of payments, deficits, and economic development, and how these may be influenced by monetary, fiscal, and other policies.

Forbidden Overlap: Students may not receive credit for both AEM 1300 and $\mathrm{ECON} 1120$.

PREREQUISITES

Aggregate economic activity refers to the overall level of economic activity in an economy, including the production, consumption, and distribution of goods and services. National income, which measures the total income generated within a country’s borders, is a key indicator of aggregate economic activity. In this context, the level, stability, and growth of national income are important factors that can impact an economy in a variety of ways.

Unemployment is one of the key factors that can impact the level and stability of national income. When unemployment is high, it can reduce the amount of goods and services produced within an economy, which can result in a decline in national income. Conversely, when unemployment is low, it can lead to increased production and higher national income.

ECON1120 Macroeconomics HELP（EXAM HELP， ONLINE TUTOR）

问题 1.

Determine the Euler equation in this case.
Determine the representative household’s optimal choices: $c_1^{\star}, c_2^{\star}$, and $b_1^{\star}$.
Determine the equilibrium interest rate $R^{\star}$.
Determine the effect on the equilibrium interest rate $R^{\star}$ of a permanent negative shock to the income of the representative household. (I.e., both $y_1$ and $y_2$ go down by an equal amount.) How does this relate to the case in which $u\left(c_t\right)=\ln \left(c_t\right)$ ?

问题 2.

Suppose the representative household becomes more impatient. Determine the direction of the change in the equilibrium interest rate. (Patience is measured by $\beta$. You should use calculus.)
Suppose the representative household gets a temporary negative shock to its period-1 income $y_1$. Determine the direction of the change in the equilibrium interest rate. (Again, use calculus.)

问题 3.

Write down Maxine’s maximization problem. (You should show her choice variables, her objective, and her constraints.)
Solve Maxine’s maximization problem. (This will give you her choices for given values of $e_1, e_2, \beta$, and $\delta$.)
How do Maxine’s choices change if she finds a way reduce the damage done by the rats? (You should use calculus to do comparative statics for changes in $\delta$.)

问题 4.

An agent lives for five periods and has an edible tree. The agent comes into the world at time $t=0$, at which time the tree is of size $x_0$. Let $c_t$ be the agent’s consumption at time $t$. If the agent eats the whole tree at time $t$, then $c_t=x_t$ and there will be nothing left to eat in subsequent periods. If the agent does not eat the whole tree, then the remainder grows at the simple growth rate $\alpha$ between periods. If at time $t$ the agent saves $100 s_t$ percent of the tree for the future, then $x_{t+1}=(1+\alpha) s_t x_t$. All the agent cares about is consumption during the five periods. Specifically, the agent’s preferences are: $U=\sum_{t=0}^4 \beta^t \ln \left(c_t\right)$. The tree is the only resource available to the agent.
Write out the agent’s optimization problem.

Textbooks

• An Introduction to Stochastic Modeling, Fourth Edition by Pinsky and Karlin (freely
available through the university library here)
• Essentials of Stochastic Processes, Third Edition by Durrett (freely available through
the university library here)
To reiterate, the textbooks are freely available through the university library. Note that
you must be connected to the university Wi-Fi or VPN to access the ebooks from the library
links. Furthermore, the library links take some time to populate, so do not be alarmed if
the webpage looks bare for a few seconds.

此图像的alt属性为空；文件名为%E7%B2%89%E7%AC%94%E5%AD%97%E6%B5%B7%E6%8A%A5-1024x575-10.png — 经济代写|ECON1120 Macroeconomics

Statistics-lab™可以为您提供cornell.edu ECON1120 Macroeconomics宏观经济学课程的代写代考和辅导服务！请认准Statistics-lab™. Statistics-lab™为您的留学生涯保驾护航。

经济代写|ECON1120 Macroeconomics

Posted on 2023年4月22日2023年4月22日 by statistics-lab

Statistics-lab™可以为您提供cornell.edu ECON1120 Macroeconomics宏观经济学课程的代写代考和辅导服务！

ECON1120 Macroeconomics课程简介

Forbidden Overlap: Students may not receive credit for both AEM 1300 and $\mathrm{ECON} 1120$.

PREREQUISITES

ECON1120 Macroeconomics HELP（EXAM HELP， ONLINE TUTOR）

问题 1.

${ }^1$ We should add secondary income, but we will disregard for the analysis.

问题 2.

${ }^2$ The fact that current accounts seem to be typically quite small relative to the size of the economy, so that savings is roughly similar to investment, is called the Feldstein-Horioka puzzle.

问题 3.

${ }^3$ Think about what happens, for instance, if $r>\rho$. We would have consumption increasing at a constant rate. This patient economy, with relatively low $\rho$, would start accumulating assets indefinitely. But in this case, should we expect that the assumption that it is a small economy would keep being appropriate? What if $r<\rho$ ? This impatient economy would borrow heavily to enjoy a high level of consumption early on, and consumption would asymptotically approach zero as all income would be devoted to debt payments – not a very interesting case.

问题 4.

${ }^4$ Is this example mere coincidence, or related to the fact that one of us is from Chile, which is a major exporter of copper? We will let you guess.

Textbooks

经济代写|ECON1120 Macroeconomics

Posted on 2023年4月13日2023年4月13日 by statistics-lab

Statistics-lab™可以为您提供cornell.edu ECON1120 Macroeconomics宏观经济学课程的代写代考和辅导服务！

ECON1120 Macroeconomics课程简介

Forbidden Overlap: Students may not receive credit for both AEM 1300 and $\mathrm{ECON} 1120$.

PREREQUISITES

ECON1120 Macroeconomics HELP（EXAM HELP， ONLINE TUTOR）

问题 1.

${ }^1$ Is it really that easy? Let $\bar{Y}$ be the steady state level of output, and, similarly, for $C$ and $G$. Now subtract $\bar{Y}$ from both sides of the equation, and divide both sides by $\bar{Y}$. Recognising that $\bar{Y}=\bar{C}+\bar{G}$, this gives you $\frac{r_t-\bar{Y}}{\bar{Y}}=\frac{C_t-\bar{C}}{\bar{Y}}+\frac{G_t-\bar{G}}{\bar{Y}}$. Now multiply and divide the first term on the RHS by $\bar{C}$, and the second term by $\bar{G}$, and you will get the result.

问题 2.

${ }^2$ Here’s how that one goes: note from the resource constraint that $\hat{c}t=\frac{1}{1-\gamma} \hat{y}_t-\frac{\gamma}{1-\gamma} \hat{g}_t$, and plug this into (17.29). Multiplying both sides by $(1-\gamma)$ yields $\hat{y}_t=E_t \hat{y}{t+1}-\gamma\left(E_t \hat{g}{t+1}-\hat{g}_t\right)-\sigma(1-\gamma) r_t$. Define $\Delta \hat{g}{t+1}=\left(E_t \hat{g}_{t+1}-\hat{g}_t\right)$ and collect terms, and the result follows.

问题 3.

${ }^3$ Recall that, for notational simplicity, we are leaving aside the terms in the discount rate and the productivity shock that shifts the natural rate of output, which is implicit within the log deviation term.

问题 3.

Textbooks

经济代写|ECON1120 Macroeconomics

Posted on 2023年4月5日2023年4月5日 by statistics-lab

Statistics-lab™可以为您提供cornell.edu ECON1120 Macroeconomics宏观经济学课程的代写代考和辅导服务！

ECON1120 Macroeconomics课程简介

Forbidden Overlap: Students may not receive credit for both AEM 1300 and $\mathrm{ECON} 1120$.

PREREQUISITES

ECON1120 Macroeconomics HELP（EXAM HELP， ONLINE TUTOR）

问题 1.

1) We have discussed what inflation is. Why are central banks worried about inflation?
2) The US central bank, the Federal Reserve, has two goals in mind when it makes monetary policy, keep inflation and unemployment as low as possible. Why is there tension between these goals? What three tools does the Fed (not the Feds- that is the FBI) use to meet these too goals?
3) If the Fed received data which insinuated that the unemployment rate was lower than the natural rate of unemployment, what might the Fed do in response to this information?

Central banks are worried about inflation because high and volatile inflation can lead to economic instability, reduce consumer and business confidence, and lead to a decrease in the purchasing power of money. Inflation can also cause distortions in the allocation of resources, leading to misinvestment and maladjustment in the economy.
There is tension between the goals of keeping inflation and unemployment low because some monetary policy tools that can be used to control inflation can also increase unemployment, and vice versa. For example, increasing interest rates to combat inflation can also increase unemployment by reducing borrowing and spending. The three tools that the Fed uses to meet these goals are:

Open market operations: buying or selling government securities to increase or decrease the money supply
Discount rate policy: setting the interest rate that banks can borrow from the Fed
Reserve requirements: setting the amount of money that banks must hold in reserves.

If the Fed received data indicating that the unemployment rate was lower than the natural rate of unemployment, it might respond by raising interest rates or implementing other measures to tighten monetary policy. This would be done to prevent the economy from overheating and inflation from rising above its target level. Additionally, the Fed may use its communication tools to signal to the public and financial markets that it is concerned about the low unemployment rate and may take action to address it.

问题 2.

1) Compare the goals of the Federal Reserve when it conducts monetary policy to those of the executive branch of the US government when it conducts fiscal policy.
2) What fiscal policy decisions has the Bush administration made since taking office in 2001 ? What do various pundits have to say about the administration’s decisions?
3) Discuss the trade-offs that are evident in the Denmark’s decision to provide job re-training for workers who have lost their jobs. (Use the article we discussed in class as an information source.)

The Federal Reserve’s primary goal when conducting monetary policy is to maintain price stability and achieve maximum sustainable employment. They do this by adjusting interest rates, buying and selling government securities, and controlling the money supply. The executive branch of the US government, on the other hand, uses fiscal policy to manage the economy. This involves using government spending, taxation, and borrowing to influence the economy. The goal of fiscal policy is to promote economic growth, job creation, and stabilize the economy during times of recession.
The Bush administration made several fiscal policy decisions during its time in office. Some of these decisions include:

Implementing tax cuts in 2001 and 2003
Increasing defense spending
Passing the Medicare Prescription Drug, Improvement, and Modernization Act of 2003
Implementing the Troubled Asset Relief Program (TARP) in response to the financial crisis of 2008

Various pundits have had differing opinions on the Bush administration’s fiscal policy decisions. Some have praised the tax cuts for promoting economic growth, while others have criticized them for widening the income gap and increasing the national debt. The increase in defense spending has also been a topic of controversy, with some arguing that it was necessary for national security, while others believe it was unnecessary and contributed to the national debt. The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 has been both praised for providing seniors with access to prescription drugs and criticized for its cost. Finally, TARP has been both praised for stabilizing the financial system and criticized for bailing out large corporations at the expense of taxpayers.

Denmark’s decision to provide job re-training for workers who have lost their jobs involves several trade-offs. On the one hand, re-training can provide workers with new skills and increase their chances of finding new employment. This can also benefit the economy by improving the skill level of the workforce and increasing productivity. On the other hand, re-training can be costly and may not always lead to successful re-employment. There is also the risk of creating a culture of dependency, where workers rely on re-training rather than seeking new employment opportunities. Additionally, there may be trade-offs between re-training programs and other government spending priorities, such as healthcare or education. The article we discussed in class highlights some of these trade-offs, noting that while re-training programs in Denmark have been successful in getting workers back into the workforce, they are expensive and require ongoing government investment.