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Overlapping Generations Model
Consider an economy in which 2 generations overlap. Time is discrete and people live two periods, people start without assets and are not able to work in the second period. The government imposes a Social Security scheme in which individuals must pay a lump sum amount (p when young and they receive an amount (1+rt+1)(p when old. The economy has a Cobb-Douglas production function y = kat (y and k are in per effective units) and the utility function for someone born at time t is given by: 1-9 1-0 01,1, + 1 C2.,1.+1 U: 1" 1-(9 1+p1-6 The growth rate of the population and technology are L; = (1 + n)L;-1 and : A; = (1 + g)A,-1, respectively. Markets are competitive and there is no capital depreciation. a) [5pts] Write down the intertemporal budget constraint, the Lagrangian and Euler Equation. b) [Spts] Write down the optimal consumption choices C 1,1 and C2,t+1. c) [5pts] Calculate the wage rate (intensive form) and law of motion of capital (intensive form) assuming 5 = 1/(2+p). d) [Spts] Graph the steady state of the model (k m = kt).
Apply SWOT, Porter's Five Forces, or the BCG Matrix to analyze Kraft's strategic plan to expand into international markets. How would you determine which markets to target short versus long term?
Suppose that disposable income, consumption, and saving in some country are $800 billion, $700 billion, and $100 billion, respectively. Next, assume that disposable income increases by $80 billion, consumption rises by $60 billion, and saving goes..
which of the following statements concerning major cycles is incorrect?a. major cycles are characterized by wide
Susie is at the grocery store buying milk. She has a choice between milk from Dairy A or milk from Dairy B. She doesn't actually care at all which dairy her milk comes from. (a) Draw a possible indifference curve for Susie between milks A and B.
While walking through the park, Jane finds a $100 bill. No one is around to claim it, so she keeps it. Does Jane have any gross income as a result of this?
A trendy French restaurant is one of the first businesses to open in a small corner of a commercial building still under construction. The restaurant has received rave reviews and has lines of diners waiting for tables most nights.
Determine the non-discriminating monopolist's profit-maximizing price and quantity (recall that the MR curve has the same intercept as the demand curve, but twice the slope).
By how much has total M1 in the country changed by this transaction alone?
Analyze the difference in the labor supply incentive effects of these two programs - what value of hours of work do the two budget constraints intersect?
The research paper should be around information on a company. The research on the company must: Include a brief summary of the organization. Explain how the of transportation economics play a role in decisions of the organization.
1. Discuss the main goal of the paper 2. Discuss why we may expect positive effects in the long run and why we may also expect negative effects
hotel bethlehem implements a block pricing scheme for nights in a hotel room. they face inverse demandp 260 -qdthe
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