8 sample documents related to ECO 2031

• 
  assg0902.pdf

  Toledo ECO 2031
  

  Assignment 2 Eco 2031h: Macro Theory II (2009) Due Date: April 7, 2009 Introduce capital accumulation into the asset pricing model of Lucas (1978, ECMA) as follows. There is a unit measure of rms, each of which is specialized in collecting fruit from
   
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  assg0901.pdf

  Toledo ECO 2031
  

  Assignment 1 Eco 2031h: Macro Theory II (2009) Due Date: March 17, 2009 (in class) Consider the following search economy in discrete time. There is a continuum of identical households, with measure one. Take an arbitrary household in this economy as
   
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  mehra-prescott-slidesb.pdf

  Toledo ECO 2031
  

  The Equity Premium: A Puzzle Rajnish Mehra Edward C. Prescott Journal of Monetary Economics 15, 1985 1. Objective and motivation Large equity premium: 6.18% average real rate of return to stocks (S&P 500, 1889-1978): 6.98% (standard error: 1.74%)
   
• 
  film5b.pdf

  Toledo ECO 2031
  

  Ecient Search On the Job and the Business Cycle Guido Menzio U. Pennsylvania & Hoover Institution Shouyong Shi University of Toronto Macro/International Macro Seminar at Princeton (2008) 1. Objective and motivation search on the job (OJS) +
   
• 
  barro-slidesb.pdf

  Toledo ECO 2031
  

  Macroeconomic Crises since 1870 Robert Barro Jose F. Ursua Brookings Papers on Economic Activity, 2008 Rare Disasters, Asset Prices, and Welfare Costs Robert Barro American Economic Review, 2009 1. Objective and motivation Large equity premium: 6.1
   
• 
  sas0901.pdf

  Toledo ECO 2031
  

  Solutions for Assignment 1 ECO2031H: Macro Theory II (2009) 1. The household\'s optimization problem is: R (n, X) = c0, n+1 [0,1] max s.t. {c - n - (1 - n) s + R (n+1 , X+1 )} c wn + D n (1 - ) + (1 - n) Q n+1 Since utility is increasing in cons
   
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  kiyotaki-slide-lecture1.pdf

  Toledo ECO 2031
  

  Inside Money and Liquidity Nobuhiro Kiyotaki and John Moore March 23, 2009 1 Question Under what environment, is the circulation of inside money essential for smooth running of the economy? How does the .nancial deepening interwine with economic d
   
• 
  sas0902.pdf

  Toledo ECO 2031
  

  Answers to Assignment 2 Eco 2031 (2009) 1. A households optimization problem, as a dynamic programming problem, is as follows: v(s, A) = max {u(c) + EA [v(s+1 , A+1 )]} (c,s+1 ) subject to: c + (A)s+1 [(A) + D(A)] s Because u0 (0) = , the budget co