资源描述：
《高级宏观经济学习题.pdf》由会员上传分享，免费在线阅读，更多相关内容在教育资源-天天文库。
1、MacroeconomicTheoryI,Fall2005ProfessorT.Huo,CCER,PKUProblemSet1AllproblemsherewillbediscussedinTAsession.Youarenotrequiredtohandinyouranswers,butitishighlyrecommendedtogetyourhandsdirtyonthem.Thereissomethinginmacroeconomicsyouwillnevergetunlessyoudoitbyyourself.Discu
2、sstheseproblemsingroupsisagoodidea.1.(Aone-periodgeneralequilibriummodelofthemacroeconomy)Considerasimplifiedversionofthemodelpresentedinchapter1.Thereisonlyoneperiodinthismodel.Sothedecisionsthatconsumersandfirmsmustmakearestatic.Therepresentativeconsumervaluesconsum
3、ptiongoodandleisure.Ifwenormalizethetotaltimeavailabletotheconsumerto1,hispreferencecanbecapturedbyutilityfunctionuc(,1−n),wherendenotesthetimessspentonworking(thus1−nistheleisureenjoyed).Thefirmsinthiseconomyhirelaborstoproduceconsumptiongoods.Theproductiontechnology
4、ofthefirmsisdescribedasproductionfunctionYz=fn(),wherendenotesthelaborhiredbyfirms,andzistheddtotalfactorproductivity.Thefirmsinthiseconomyareownedbyconsumers,thustheprofitoffirmswillbetransferredtoconsumers.Thegovernmentinthiseconomyusesalumpsumtaxtofinanceitsexpendi
5、tureG.(a)Setuptheoptimizationproblemsoftherepresentativeconsumerandfirms,derivetheoptimalconditionsanddescribetheeconomicintuitionsbehindtheseconditionsineveryday-usedlanguage.(hint:thebudgetconstraintoftherepresentativeconsumercanbewrittenascw≤+−nπG,wherewisthewagera
6、teandπdenotestheprofitsreceivedfromfirms)α(b)Assumefunctionalformsasuc(,1−n)=+−lncbln(1n),f()nn=,ssdd01<<α,computetheGDPofthiseconomy.(c)CalculatetheeffectsofchangesinGandzonGDP.12.Aconventionalapproachinstudyingthesavingbehavioristoregressaggregatesavingsoninterestra
7、tesdirectly.Ifthecoefficientofregressionispositive,wesaythetheoryofsavingisvalid;however,ifthecoefficientisnegative,wesaythetheoryisinvalid.Criticallyevaluatethisapproach.Doesyourconclusiondependonnon-storablegoodsassumption?Explain.3.(Cake-Eating)SupposemyfriendJerry
8、ispresentedwithacakeofsizeW.Ateachpointoftime,tT=0,1,2,?,,Jerrycaneatsomeofthecakebutmustsavetherest.Letcbethetconsumptionin
