energy function theory and direct methods
THE NORMALIZED CES PRODUCTION FUNCTION THEORY AND EMPIRICS pdf
... normalizing CES functions was discovered in the seminal paper by La Grandville (1989b), then further explored by Klump and de La Grandville (2000), Klump and Preissler (2000), La Grandville and Solow ... parameter and, σ, is the elasticity of substitution between capital, K, and labor, N Like all standard CES functions, equation (1) nests a CobbDouglas function when σ → 1; a Leontief function ... In La Grandville (1989b) and Klump and de La Grandville (2000) the concept of normalization was introduced in order to prove that the aggregate elasticity of substitution between labor and capital...
Ngày tải lên: 09/03/2014, 00:20
International Macroeconomics and Finance: Theory and Empirical Methods pptx
... stands for autoregression of order p, MA(n) stands for moving average of order n, ARIMA stands for autoregressive-integrated-moving-average, VAR stands for vector autoregression, and VECM stands ... theoretical and empirical issues The theory is introduced by developing the canonical model in a topic area and then its predictions are evaluated quantitatively Both the calibration method and standard ... BACKGROUND tity, and maturity or future delivery date for a foreign currency The agreed upon price is the forward exchange rate Standard maturities for forward contracts are and weeks, 1,3,6, and 12 months...
Ngày tải lên: 24/03/2014, 04:20
International Macroeconomics and Finance: Theory and Empirical Methods Phần 1 pot
... stands for autoregression of order p, MA(n) stands for moving average of order n, ARIMA stands for autoregressive-integrated-moving-average, VAR stands for vector autoregression, and VECM stands ... theoretical and empirical issues The theory is introduced by developing the canonical model in a topic area and then its predictions are evaluated quantitatively Both the calibration method and standard ... BACKGROUND tity, and maturity or future delivery date for a foreign currency The agreed upon price is the forward exchange rate Standard maturities for forward contracts are and weeks, 1,3,6, and 12 months...
Ngày tải lên: 05/08/2014, 13:20
International Macroeconomics and Finance: Theory and Empirical Methods Phần 2 pdf
... contain less 52 CHAPTER SOME USEFUL TIME-SERIES METHODS proposed panel unit-root tests have by Levin and Lin [91], Im, Pesaran and Shin [78], and Maddala and Wu [99] We begin with the popular Levin—Lin ... variables which may be different from xt and ²t (qt , xt , β) may be a nonlinear function of the underlying k-dimensional parameter vector β and observations on qt and xt To estimate β by GMM, let wt ... system in which the theory imposes parameter restrictions across equations so not only may the model be nonlinear, ²t could be a vector of error terms Andrews [2] and Newey and West [115] offer...
Ngày tải lên: 05/08/2014, 13:20
International Macroeconomics and Finance: Theory and Empirical Methods Phần 3 docx
... successively more subintervals and are cramming more ωj into the interval [0, π] Since each uj and vj is associated with an ωj , in the limit, write u(ω) and v(ω) as functions of ω For future reference, ... E(Rt )/E(Bt ), rt = ln(Rt ), and dt = ln(Dt ).2 A transactions motive gives rise to the demand for money in which log real money demand md − pt depends positively on yt and negatively t on the opportunity ... the income elasticity of money demand, < λ is the iid interest semi-elasticity of money demand, and ²t ∼ (0, σ² ) Assume that purchasing-power parity (PPP) and uncovered interest parity (UIP)...
Ngày tải lên: 05/08/2014, 13:20
International Macroeconomics and Finance: Theory and Empirical Methods Phần 4 pdf
... individuals enjoy consuming both goods and the utility function is concave, it is optimal for the planner to split the available x and y between the home and foreign individuals according to the ... be the euro price of y, and St be the exchange rate expressed as the dollar price of euros Mt is the outstanding stock of dollars, Nt is the outstanding stock of euros and they evolve over time ... co-movements Solve and calibrate a candidate model That is, assign values to the deep parameters of tastes (the utility function) and technology (the production function) that make sense or that...
Ngày tải lên: 05/08/2014, 13:20
International Macroeconomics and Finance: Theory and Empirical Methods Phần 5 docx
... construct and use the volatility bound in practice? First determine v and calculate θr and Σr from asset price data Then using (6.28) you trace out σr as a function of θµ Next, for a given functional ... allocated between the home and foreign country depends on ˜ ˜t+1 the realization of the idiosyncratic shocks At+1 and A∗ ˜∗ ˜ Given kt , and kt , it follows from the production functions that the outputs ... dynamics of the spot and forward rates Here, the log spot and forward rates are assumed to be unit root processes and the forward premium is assumed to be stationary The spot and forward rates are...
Ngày tải lên: 05/08/2014, 13:20
International Macroeconomics and Finance: Theory and Empirical Methods Phần 6 docx
... the exogenous state variables, the forms of the utility functions and production functions and so forth In short, they know and understand everything that we write down about the economic environment ... + λ), and ψ = λγ, and λ is the income elasticity of money demand The process that governs the fundamentals are known by foreign exchange market participants and evolves according to a random ... from for Germany and Japan The slope coefficients and implied standard errors for Germany and Japan are reproduced in Table 7.1.1 The estimates for Germany indicate that import and export prices...
Ngày tải lên: 05/08/2014, 13:20
International Macroeconomics and Finance: Theory and Empirical Methods Phần 7 pdf
... Finland, Austria, and Spain They deÞne output by the “manufacturing” and “agricultural, hunting forestry and Þshing” sectors to be traded goods Nontraded goods are produced by the “wholesale and ... retail trade,” “restaurants and hotels,” “transport, storage and communications,” “Þnance, insurance, real estate and business,” “community social and personal services,” and the “non-market services” ... variables are output, money, and the aggregate demand shock and they are governed by unit root processes Output and the money supply are driven by the driftless random walks yt = yt−1 + zt ,...
Ngày tải lên: 05/08/2014, 13:20
International Macroeconomics and Finance: Theory and Empirical Methods Phần 8 ppt
... given level of nominal income, the indirect utility function is v(p1 , p2 ; I) = I (1−θ) [p1 (1−θ) (1−θ) + p2 (1−θ) 1 , ] 1−θ +p2 ] 1−θ , and the individual’s demand the appropriate price index is, ... (9.8) 1−θ , (9.9) and individual demand for z and z ∗ goods c∗ (z) = t c∗ (z ∗ ) = t " " pt (z) St Pt∗ #−θ p∗ (z ∗ ) t Pt∗ Ct∗ , #−θ Ct∗ Every good is equally important in home and foreign households ... home government demand for individual goods are given by replacing ct with gt and Ct with Gt in (9.5)—(9.6) The identical reasoning holds for the foreign government demand function Governments...
Ngày tải lên: 05/08/2014, 13:20
International Macroeconomics and Finance: Theory and Empirical Methods Phần 9 pdf
... that there is a lower and upper band on the fundamentals, [f, f ] that corresponds to the lower and upper bands for the exchange rate ¯ ¯ [s, s] When s(t) hits the upper band s, the authorities ... the time unit is one day (∆t = 1), and ut ∼ N (0, 1) λ1 and λ2 are given in (10.34)-(10.35), and A and B are given in (10.38) 318 CHAPTER 10 TARGET-ZONE MODELS and (10.39) The observations are ... reserves ¯ when f is hit and gains reserves when f is hit ¯ ˜ ˜ Letting A ≡ Aeλ1 f and B ≡ Beλ2 f , rewrite the solution (10.33) ¯ explicitly as a function of the bands f and f ¯ ¯ ˜ ˜ G(f |f, f...
Ngày tải lên: 05/08/2014, 13:20
International Macroeconomics and Finance: Theory and Empirical Methods Phần 10 pptx
... In G.S Maddala and C.R Rao, eds Statistical Methods of Finance, Handbook of Statistics Series, vol 14 Amsterdam: Elsevier, North Holland, pp 613—46 48 Fama, Eugene F 1984 “Spot and Forward Exchange ... u > and 2cd > λ[αδ e + y + u]2 It will and ¯ revalue if u < and 2cr > λ[αδ e + y + u]2 The rule can be written ¯ more compactly as λ[αδ e + y + u]2 > 2ck , ¯ (11.36) where k = d if u > and ... Oliver and Danny Quah 1989 “The Dynamic Effects of Aggregate Demand and Supply Disturbances.” American Economic Review 79: pp 655-73 16 Blough, Stephen R 1992 “The Relationship between Power and...
Ngày tải lên: 05/08/2014, 13:20
Mathematical theory and numerical methods for gross pitaevskii equations and applications
... 207.16 g g g g Epot , interaction energy Eint , condensate widths σx and σz of the ground states increase; g g and resp., the kinetic energy Ekin , dipolar energy Edip and central density ρg (0) decrease ... density function Figure 6: Time of different quantities and and isosurface plots of the density function Figure 2.6: Time evolution of different quantities and isosurface plots of the density function ... existence and uniqueness of the ground states and well-posedness of the Cauchy problems associated to the quasi-2D equations I and II and the quasi-1D equation, and to analyze the convergence and convergence...
Ngày tải lên: 10/09/2015, 15:54
Study on native and extrinsic defects in p type zn0 semiconductors by density functional theory and experimental methods
Ngày tải lên: 16/09/2015, 15:54
Theory and practical application of nominal clauses, adverbial clauses, direct & indirect speech in finance
... meaningful and interesting Commands → To infinitive clause In reporting commands and requests, the indirect speech is introduced by some verb expressing commands and requests, and the Imperative Mood ... idea to apply both direct and indirect speech into the articles C Conclusion By reviewing theory in a logical order and study the theory in practical application, we can understand all the definition, ... past tense was Methods of changing from Direct to Indirect speech There are three main steps of changing from direct to indirect speech: Change of the verb forms, Change pronouns and pointer word,...
Ngày tải lên: 15/04/2013, 14:57
Exergoeconomic optimization and improvement of a cogeneration system modeled in a process simulator using direct search and evolutionary methods
... factor, here assumed constant, and l and i are, respectively, the useful system life and interest rate The constant factor β purports to account for all direct and indirect costs of the system [20] ... transfer, subscripts F and P indicate system fuel and system product, respectively, NK is the number of system components, and NP and NF are the numbers of system products and fuels, respectively ... Genetic Algorithms and Engineering Optimization John Wiley & Sons: New York, 2000 Frangopoulos C.A Methods of Energy Systems Optimization OPTI _Energy Summer School: Gliwice, Poland, 2003 Vieira...
Ngày tải lên: 05/09/2013, 16:30
inverse problem theory and methods for model parameter estimation - a. tarantola
... Inverse Problem Theory and Methods for Model Parameter Estimation OT89 Tarantola FM2.qxp 11/18/2004 3:50 PM Page OT89 Tarantola FM2.qxp 11/18/2004 3:50 PM Page Inverse Problem Theory and Methods for ... discretization of a continuous function We have reason to believe that the particular function under study is a random realization of a Gaussian random field, with given mean mprior and given covariance ... 81 81 82 86 89 96 Functional Inverse Problems 5.1 Random Functions 5.2 Solution of General Inverse Problems 5.3 Introduction to Functional Least Squares...
Ngày tải lên: 31/03/2014, 15:24
econometric theory and methods - russell davidson and james g. mackinnon
... β1 and β2 , and an unobserved error term, ut Thus, of the five quantities that appear in (1.01), two, yt and Xt , are observed, and three, β1 , β2 , and ut , are not Three of them, yt , Xt , and ... X2 , the expectation of a product of another random variable X1 and a deterministic function of X2 is the product of that deterministic function and the expectation of X1 conditional on X2 : ... k2 , X21 of dimensions n2 × k1 , and X22 of dimensions n2 × k2 , with n1 + n2 = n and k1 + k2 = k Thus X11 and X12 have the same number of rows, and also X21 and X22 , as required for the submatrices...
Ngày tải lên: 08/04/2014, 12:28
conte r., et al. (eds.) direct and inverse methods in nonlinear evolution equations (lnp632, springer, 2003)(283s)
... (Ed.), Direct and Inverse Methods in Nonlinear Evolution Equations Preface This book contains the lectures given at the Centro Internazionale Matematico Estivo (CIME), during the session Direct and ... Diffraction, and Microstructure of Solids and Liquids Vol.611: A Buchleitner, K Hornberger (Eds.), Coherent Evolution in Noisy Environments Vol.612: L Klein, (Ed.), Energy Conversion and Particle ... Structures Vol.630: T Brandes, S Kettemann (Eds.), Anderson Localization and Its Ramifications Vol.631: D J W Giulini, C Kiefer, C L¨ mmerzahl (Eds.), a Quantum Gravity, From Theory to Experimental...
Ngày tải lên: 24/04/2014, 16:50
conte r., magri f., musette m., satsuma j, and winternitz p. direct and inverse methods in nonlinear evolution equations, greco a. m.
... (Ed.), Direct and Inverse Methods in Nonlinear Evolution Equations Preface This book contains the lectures given at the Centro Internazionale Matematico Estivo (CIME), during the session Direct and ... Structures Vol.630: T Brandes, S Kettemann (Eds.), Anderson Localization and Its Ramifications Vol.631: D J W Giulini, C Kiefer, C L¨ mmerzahl (Eds.), a Quantum Gravity, From Theory to Experimental ... Diffraction, and Microstructure of Solids and Liquids Vol.611: A Buchleitner, K Hornberger (Eds.), Coherent Evolution in Noisy Environments Vol.612: L Klein, (Ed.), Energy Conversion and Particle...
Ngày tải lên: 24/04/2014, 16:50