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Table Of Contents

The Consumption/Savings Decision
1.1 Properties of the Utility Function
1.1.1 Total Utility and Consumption Smoothing
1.1.2 Uncertainty and Risk Aversion
1.2 The Fisher Model
1.2.1 Interest Rates
1.2.3 Modified Budget Constraints
1.2.4 Ricardian Equivalence
1.3 Uncertainty and Consumption
1.3.1 The Permanent Income Hypothesis
1.3.2 Lifespan Uncertainty
1.3.3 Precautionary Saving
1.4 Violations of Utility Assumptions
1.4.1 Habit Formation
1.5. LABOR AND CONSUMPTION CHOICES 19
1.4.2 Intertemporal Consistency
1.5 Labor and Consumption Choices
1.5.1 The Basic Consumption/Leisure Problem
1.5.2 Fluctuations and Consumption
1.5.3 Labor, Consumption and Fluctuations
2.1 Production Functions
2.2 The Solow Model
2.2.1 Capital Accumulation
2.2.2 Golden Rule Saving
2.2.3 Population Growth
2.2.4 Technical Change
2.3 Human Capital
Essential Models of Dynamic Optimization
3.1 The T Period Fisher Model
3.1.1 Infinitely Lived Agents
3.1.2 Dynamic Programming
3.1.3 Lifespan Uncertainly and Insurance
3.1.4 Continuous Time Optimal Consumption
3.1.5 The Ramsey Model
3.1.6 Stochastic Income Shocks
3.1.7 Fixed Technological Growth
3.2. THE OVERLAPPING GENERATIONS MODEL 59
3.2 The Overlapping Generations Model
3.2.1 The Basic Model
3.2.2 Fixed Technological Growth
3.2.3 Stochastic Income Shocks
4.1 Open Economy Accounting
4.2 Optimal Savings and the Interest Rate
4.3.2 Non-tradable Human Capital
Endogenous Growth Models
5.1 Empirics of Economic Development
5.1.1 Growth and Development Accounting
5.1.2 Growth Rates and Convergence
5.1.3 Interest Rate Differentials
5.2 Basic Models
5.2.1 The AK Model
5.2.2 Generalizing Endogenous Growth
5.2.3 Lucas’ Human Capital Model
5.3. ENDOGENOUS TECHNOLOGY CREATION 91
5.3 Endogenous Technology Creation
5.3.1 Increasing Variety of Intermediate Goods
5.3.2 Increasing Quality of Intermediate Goods
5.4 Endogenous Population Growth
5.4.1 Lucas’ Malthusian Model
5.4.2 Kremer’s Model of Long Run Population Growth
5.4.3 Optimal Fertility Choice
Solutions
A.1 Solving for actual consumption (Example 4)
A.2 Consumption Path in the Stochastic Ram- sey Model
A.3. SOCIAL SECURITY IN THE OLG MODEL (EXAMPLE 17) 109
A.3 Social Security in the OLG Model (Exam- ple 17)
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Grad Macro Book 07

Grad Macro Book 07

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Published by Sam Suri

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Published by: Sam Suri on Apr 26, 2011
Copyright:Attribution Non-commercial

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