International Macroeconomics and Finance: Theory and Empirical Methods Phần 4 pdf

... k 6 4 1 0 -1 -4 -6 c t 0.09 0.20 0.72 0.87 0.87 0 .46 0. 14 i t 0.01 0 .43 0.91 0. 94 0.81 0.20 0.10 Notes: All variables are logarithms of real per capita data for the US from 1973.1 to 1996 .4 and ... utility E t   ∞ X j=0 β j u(c xt+j ,c yt+j )   , (4. 4) 4. 1. THE BARTER ECONOMY 111 subject to (4. 16) and (4. 17). The Euler equations for this problem are φu 1 (c xt ,c yt )=...

Ngày tải lên: 05/08/2014, 13:20

... µ ∗ ˜ T σ ∗ ˜ T µ ∗ ˜ T σ ∗ ˜ T µ ∗ ˜ T σ ∗ ˜ T 25 9 0.0 04 1. 049 -0.5 54 0.919 -0.703 1.003 30 10 0.003 1.035 -0. 546 0.889 -0.6 74 0. 949 35 11 0.002 1.027 -0. 541 0.867 -0.653 0.906 40 11 0.002 1.021 -0.537 0.850 -0.637 0.871 45 11 0.001 1.017 ... years. -1.5 -1 -0.5 0 0.5 1 1.5 0 0 .4 0.8 1.2 1.6 2 2 .4 2.8 3.2 3.6 4 4 .4 4.8 5.2 5.6 6 Figure 2.1: Deterministic Cycles—q 1t =co...

Ngày tải lên: 05/08/2014, 13:20

... 41 -0.006 -0.0 04 -0.002 0 0.002 0.0 04 0.006 0.008 0.01 0.012 0.0 14 1 9 17 25 33 41 0 0.002 0.0 04 0.006 0.008 0.01 0.012 2 101826 344 2 0 0.002 0.0 04 0.006 0.008 0.01 0.012 0.0 14 0.016 1 9 17 25 33 41 -0.0 04 -0.002 0 0.002 0.0 04 0.006 0.008 0.01 0.012 0.0 14 1 ... the 8 .4. VAR ANALYSIS OF MUNDELL—FLEMING 251 0 0.002 0.0 04 0.006 0.008 0.01 0.012 0.0 14 0.016 1 9 17 25...

Ngày tải lên: 05/08/2014, 13:20

... 0.697 0.865 1.737 2. 641 11.672 franc (69.01) (83.98) (327.1) (3 34. 3) (0.001) French 0.007 0.117 6. 045 2 .44 12.395 franc (0.318) (1.759) (1590) (67.88) (0.000) Dutch 2 .48 4 2. 240 4. 152 5.393 11.35 guilder ... are set and Þxedone-periodinadvance. By (9.10) and (9.11), it follows that the general price levels are also predetermined, ˆ P t = ˆ P ∗ t =0. The short-run versions of (9....

Ngày tải lên: 05/08/2014, 13:20

... -0.5 54 0.919 -0.703 1.003 30 10 0.003 1.035 -0. 546 0.889 -0.6 74 0. 949 35 11 0.002 1.027 -0. 541 0.867 -0.653 0.906 40 11 0.002 1.021 -0.537 0.850 -0.637 0.871 45 11 0.001 1.017 -0.533 0.837 -0.6 24 ... CHAPTER 2. SOME USEFUL TIME-SERIES METHODS 0 0.2 0 .4 0.6 0.8 1 1.2 -3.1 -2.8 -2 .4 -2.1 -1.7 -1 .4 -1.0 -0.7 -0.3 0.0 0 .4 0.7 1.1 1 .4 1.8 2.1 2.5 2.8 Frequency Figure 2 .4:...

Ngày tải lên: 24/03/2014, 04:20

... 0.03 74 4675.0 7510.0 1.0628 7/17/98 0.7507 0.7163 -0.0213 -2662.5 48 47.5 1. 047 9 8/17/98 0.7 147 0.6859 -0.0360 -45 00.0 347 .5 1. 041 8 9/17/98 0.7860 0.7582 0.0713 8912.5 9260.0 1.0365 10/16/98 0.8 948 ... 1.0330 11/17/98 0. 849 8 0.8 244 -0. 045 0 -5625.0 17235.0 1.0308 12/17/98 0.8815 0.8596 0.0317 3962.5 21197.5 1.02 54 01/19/99 0.8976 0.8790 0.0161 2012.5 23210.0 1.0211 02/17/99 0...

Ngày tải lên: 05/08/2014, 13:20

... 1.0 24 0.9 04 0.8 64 0.222 Austria 0.9 84 0.013 0.837 0.131 Belgium 0.999 0 .42 4 0 .40 5 0.001 Canada 0.985 0.0 74 0.552 0.009 Denmark 1.0 14 0.912 0.858 0.1 74 Finland 1.001 0.527 0.859 0.1 64 France 0.9 94 ... =                     1 −210··· ··· 0 −25 41 0··· ··· 0 1 46 41 0··· ··· 0 01 46 41 0 . . . . . . . . . . . . 001 46 41 0 . . .01 46 41 . . .01 45 −2 0...

Ngày tải lên: 05/08/2014, 13:20

... βQ 33 + Q 11 βQ 43 + Q 21 Q 71 4 βQ 34 + Q 12 βQ 44 + Q 22 Q 72 5 Q 13 Q 23 Q 73 6 Q 14 Q 24 Q 74 7 βQ 35 βQ 45 0 8 βQ 36 βQ 46 0 9 Q 15 Q 25 Q 75 10 Q 16 Q 26 Q 76 11 Q 37 Q 47 0 12 Q 17 Q 27 Q 77 13 ... (6.3) and (6 .4) US-BP US-JY US-DM DM-BP DM-JY BP-JY ˆ β 2 -3 .48 1 -4. 246 -0.796 -1. 645 -2.731 -4. 295 t(β 2 =0) (-2 .41 3) (-3.635) (-0. 542 ) (-1.326) (-1.797) (-...

Ngày tải lên: 05/08/2014, 13:20

... -1.895 (0.329) 4. 582 -2 .44 4 (0.1 24) 2.095 Austria -2 .43 4 (0.126) 3.208 -3.809 (0.0 04) 5.516 Belgium -2.369 (0.138) 4. 223 -2.580 (0.093) 2.9 14 Canada -1. 342 (0.621) – -2 .42 3 (0.127) 2.9 14 Denmark -2.319 ... τ ct (p-value) half-life 4 -3.0 74 (0.028) 6.911 -4. 906 (0.001) 2.1 54 PPIs 8 -2.122 (0.238) 10. 842 -4. 1 04 (0.007) 2.126 12 -1.559 (0.510) 16.720 -2.7 54 (0.229)...

Ngày tải lên: 05/08/2014, 13:20

... −n ˆ S t . (9. 74) In the short run, output is demand determined by (9 .47 ) and (9 .48 ). Substituting (9.73) into (9 .47 ) and (9. 74) into (9 .48 ) and noting that individual goods prices are sticky ... follows from (9. 141 ) and (9. 142 ) ˆ M − ˆ P = 1 ² ˆ C, (9.155) ˆ M ∗ − ˆ P ∗ = 1 ² ˆ C ∗ . (9.156) By the law-of-one price ˆp(z)= ˆ q ∗ (z)+ ˆ S. (9. 143 ) and (9. 144 ) becom...

Ngày tải lên: 05/08/2014, 13:20