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Problem
Suppose that in the Shapiro-Stieglitz model, unemployed workers are hired according to how long they have been unemployed rather than at random; specifically, suppose that workers who have been unemployed the longest are hired first.
(a) Consider a steady state where there is no shirking. Derive an expression for how long it takes a worker who becomes unemployed to get a job as a function of b, L, N, and L.
(b) Let VU be the value of being a worker who is newly unemployed. Derive an expression for VU as a function of the time it takes to get a job, workers' discount rate (ρ), and the value of being employed (VE).
(c) Using your answers to parts (a) and (b), find the no-shirking condition for this version of the model. (d) How, if at all, does the assumption that the longer-term unemployed get priority affect the equilibrium unemployment rate?
Represent this economy using the AD/AS model and explain the model and what problem will occur in the economy if no fiscal policy is pursued? What fiscal policy tools could be used to combat the problem? ECOM4000
Managers/Leaders need to understand how data increases their ability to link information performance, and strategy more effectively to make sound decisions.
You want to start a company, and are trying to decide between two different industries. You are doing your final research before you write your business plan. Industry A has 20 firms and a Concentration Ratio (CR) of 30% What is the name for this ..
Does eating broccoli reduce the risk of prostate cancer? According to an observational study from the Fred Hutchinson Cancer Research Center (see the CNN.com web site article titled "Broccoli, Not Pizza Sauce, Cuts Cancer Risk, Study Finds," Janua..
Sterling called conservatism, "the fundamental valuation principle of accounting." List and briefly discuss as man areas savor can in which I I I.
Presume an economy's output depended on capital (K) and labor (L), and was determined by the function F(K,L) = 50(K^0.7)(L^0.3). Presently, there are 200 units of capital and 600 units of labor. Based on partial derivatives, by much would you expect ..
If the government announces a big tax cut, which of the following combinations of events would be most likely to occur? An upward shift of the aggregate expenditure line (Keynesian AD), a rightward shift in the money demand curve, and a rightward shi..
The problem belongs to Economics and it is explain about marginal utility and total utility of bracelets and sodas. What happens to the Total Utility received? What happens to the total dollars spent?
Draw a corresponding demand curve and a supply curve. Properly label the equilibrium price and quantity; Then show what will happen to equilibrium if the City Council imposes a price ceiling at 16
The problem is belongs to Economics and it is explore about the similarities between Heckscher-Ohlin model and Factor Price Equalization theorem.
Write a 500 to 750 word paper in APA format conveying the salient points of this reading material. The paper should cover the theories of capitalism, planned socialism, and market socialism.
Consider the basic flexible-price, market-clearing model (which satisfies the Classical Dichotomy) in which r and Y are constant as long as there are no shocks to preferences or technology. The nominal stock of money is growing at rate μ so that:
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