# All Questions

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447 views

### Market clearing condition with Walras law

I have a diamond overlapping model The question is as follows Let us consider an infinitely lived production economy populated at time t by $N_t$ identical and perfectly competitive adult ...
60 views

### Firm Dynamic Optimization Problem

A firm has received an order at time $0$ for $M$ units of product to be delivered by time $T$. It seeks a production schedule for filling this order at minimum cost. Let $x(t)$ denote inventory ...
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### Market efficiency in software, music, news, etc

I'm not an ecomonist, but have been tossing around some ideas in my head for a long time and thought I might ask here what resources or existing work might be out there. There are a lot of market ...
89 views

### Does Economic Growth Lead to Inflation?

As an answer to this question, it was stated that Economists believe that higher growth rates tend to also mean higher inflation rates. As a non macro-economist, I am wondering if this is true? ...
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### How to improve the underperforming construction productivity by correcting its market failures?

Globally, labor-productivity growth in construction has averaged only 1 percent a year over the past two decades, compared with growth of 2.8 percent for the total world economy and 3.6 percent in the ...
886 views

### Interest rate Effects on labour supply

I was analysing, free of specificities, the effects of an increase in the real interest rate on labour supply in a two period setting. The obvious effect on leisure is the intertemporal substitution ...
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### Solution to Dynamic Programming (Bellman Equation) Problem

Could someone please provide pointers on how to solve the below? If any theoretical approximations are possible, that would be very helpful. If numerical solutions are the right approach, could you ...
22 views

### Random effect Vs Fixed effect with the 10 CAN provs as cross sections

Im working on a model examining the effect of minimum wages on employment over the 10 provinces using a panel data set. I have used the Hausman test to decide to use RE or FE, in which it recommended ...
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### References? — Coordination Between Groups

Can anyone provide references for research that focuses on coordination between groups of decision makers rather than within group coordination with individual decision makers? \ Edits given the ...
39 views

### Has the shrinking of the American household improved or diminished household welfare?

Over the last fifty years U.S. average household size has declined dramatically. When making within-year comparisons of household income, it is regarded as good practice to adjust for adult-equivalent ...
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### Mathematically optimal age to begin drawing Social Security retirement benefits as a function of expected life span?

So, for most of us Americans, our official retirement age is 66 and we get 100% of our retirement benefits. If we delay retirement, that benefit increases by 8% each year (up to age 70) and if we ...
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### What type of biases arise from DID estimation using aggregate data?

I'm considering using difference in difference techniques to write my last two undergraduate papers relating minimum wages and employment/poverty. I've been told issues arise with using aggregate data ...
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### Why is money super neutral in Brunnermeier and Sannikov's I theory of money?

I'm wondering why money is super neutral in Brunnermeier and Sannikov's "I-theory of money", but is not super neutral in their 2016 AER paper "On the optimal inflation rate". In the I-theory of money,...
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### How empirical was Adam Smith's The Wealth of Nations? What about some other “big books”?

How empirical was Adam Smith's The Wealth of Nations? What about some other "big books"? That is, how much empirical research does it contain? And thus, what kind of "epistemological accuracy" does ...
341 views

### Choice rule and path independence

Question: A choice rule $C$ satisfies path independence if for all $A, B \in 2^X \setminus \emptyset$, $C(A \cup B) = C(C(A) \cup C(B))$. Prove that if $C$ is nonempty and rationalizable, then $C$ ...
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### What is a stockholder class action for?

Sometimes, when a public company allegedly does something wrong/illegal/etc, the investors of the company organise a class action suit against the company, such as the Commonwealth Bank of Australia (...
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### advice on econometric or methodological approach of my master thesis

For my master thesis, I am studying the effect of input trade liberalizaion on Research and development decision depending on firms' financial constraints in India. I have a firm level database from ...
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### Analyses of the paradox of voting — given that close elections are usually disputed?

In the standard analysis of the paradox of voting, votes are pivotal only in two scenarios (exact tie or win by 1). But in reality, vote counting is difficult and messy. And in reality, close ...
436 views

### How to self-study graduate level macroeconomics? Is there even a point?

As I had hoped to learn enough macroeconomic theory to get some research ideas, my goal at the beginning of this summer was to read through and complete the problems in an introductory advanced ...
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### Cost of production plant

I'm struggling to find a macroeconomic index which embodies the cost to run an average production plan. My problem is that I wanted to divide the annual average cost per employee (which I already ...
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### Causes of upward trend in median first marriage age in USA?

I found a chart here of median age at first marriage by year from 1890 to 2010. It looks like it dips to a low during the 60s then has an upward trend until 2010. As an answer, I'm looking for any ...
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### Help Finding Information on “Power Trends” or “Polynomial Trends”

I need to prove some facts about the asymptotic OLS estimator, $\hat{\delta}$ in model: $y_t = \alpha_t + \delta \cdot t^b + \epsilon_t$ where $\epsilon_t \sim iid(0,\sigma^2)$. I've looked at ...
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### Utility theory or decision theory based on partial semiorders?

Roubens, Vincke & Pirlot have summarized and extended representation theorems for partial semiorders in the 80s and 90s. See e.g. Roubens, M. & Vincke, P.: Preference Modelling. Springer, 1985....
43 views

### What models exist that explain which people emigrate to another country?

I'm looking for papers about this, or if there's a pretty standard model across many papers, then maybe just a rundown of the model. I'd like to use the model in an econometric analysis. For example, ...
When I assume an one-factor Gaussian term structure model such as the Vasicek model $dr_t = \kappa(\mu - r_t)dt + \sigma dW_t$ and specify a constant market price of risk of $dW$ to be $\lambda_t = \... 0answers 181 views ### Reference Request: Cost Benefit Analysis of Conversion of Undeveloped Land for Housing London is surrounded by a "green belt", a large area which government policy has protected from housing development. The current high cost of housing in London has led some to advocate a selective ... 0answers 132 views ### Question about M.I.U. model - Walsh I am solving practice problems in Walsh. This is from 3rd edition page 87. Question 1. I have max: $$U=\sum\beta^iU(c_{t+i},\frac{M_{t+i}}{P_{t+i}})$$ s.t. $$\omega_t=f(k_{t-1})+(1-\delta)k_{t-1}+... 0answers 140 views ### Job-finding rate in an urn-ball model with types Setup Say you have two types of workers, high and low. The share of low-types among the unemployed population is P. I want to find the job-finding rate for these types. Matching Matching is ... 0answers 323 views ### Calculating price in a pure exchange economy The problem is simple, I'm not really sure of my answer though. Consider an economy where there are two consumers and two goods:$$U_1(x_{11}, x_{21}) = x_{11}U_2(x_{12}, x_{22}) = x_{22}$$... 0answers 132 views ### Structural estimation My understanding of structural estimation follows the lines beautifully lectured by Christophe Taber (U. of Wisconsin): Identify the policy question to be answered Write down a model that can ... 0answers 26 views ### Have there been any structural changes in the market that would lead the indexes to be trading so high? If you look at this graph of the SnP500: You will see that it is trading at levels higher than pre 08 or 99. What systemic structural changes in the market have led it to be trading so high? I think ... 0answers 105 views ### How does Schumpeter's view of capitalism's demise fit in with the importance he placed on innovation? Schumpeter is widely remembered for his belief in the power of innovation and entrepreneurship within a capitalist framework. In fact he argues that capitalism owes much of its success to this. Yet, ... 0answers 142 views ### Partial R2 and contribution of Regressors I asked a similar question on Cross Validated, but got no answer. The following question is sufficiently different. Consider the following deterministic relationship:$$Y_{t}=C_{t}+I_{t}+G_{t}+(X_{t}-... 1answer 129 views ### Definition: Extractive Goods (Comtrades HS-Categorization) I'm currently writing a paper on China in Africa and I'd like to compare Africas Exports to China with its exports to Europe and the USA. More specifically I'd like to find out if the Exports to China ... 0answers 532 views ### With a depreciation of real exchange rate, what happens to the trade balance equilibrium output? Let the real exchange rate$Q=\frac{P^*e}{P}$, where$P^*$is the 'world' price level (everything with '*' is of the 'world'),$P$is the domestic price level, and$e =\frac{\text{Home Currency}}{\...
I have an intuitive notion of what an "anonymous" (extensive) game form $\Gamma$ is. In my mind an "anonymous" game is a game in which the players' identity does not matter. This includes the (again ...