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第 189 頁
We also experimented with the 3-5 year Treasury bond rate and the Triple-A long
term bond rate as proxies for the cost of holding money. Using GNP always as a
measure of current income, three alternative proxies for the ratio of permanent ...
We also experimented with the 3-5 year Treasury bond rate and the Triple-A long
term bond rate as proxies for the cost of holding money. Using GNP always as a
measure of current income, three alternative proxies for the ratio of permanent ...
第 211 頁
In each period, the household participates in a securities market to trade one
period nominal riskless bond, where its demand for the bond is denoted by Bt. In
addition, the household owns capital stock to rent to firms and there is no firm ...
In each period, the household participates in a securities market to trade one
period nominal riskless bond, where its demand for the bond is denoted by Bt. In
addition, the household owns capital stock to rent to firms and there is no firm ...
第 212 頁
Here Bt is a discounted bond so that the gross return on the nominal riskless
bond between date t and t+1 is given by 9t — The household, then, determines
consumption, investment, labor supplies for firms, capital services for firms, and
bond ...
Here Bt is a discounted bond so that the gross return on the nominal riskless
bond between date t and t+1 is given by 9t — The household, then, determines
consumption, investment, labor supplies for firms, capital services for firms, and
bond ...
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activity addition adjustment allocation analysis Association assumed assumption banks becomes capital competitive consider constraint consumption cost crisis depends derive dynamic Economic effects equation equilibrium estimated example exchange rate expected factor Figure firm foreign function given growth Hanyang higher Hong implies incentives included income increase individual industry inflation initial interest introduced investment Journal Korean labor less marginal maximize means measure mentor menu cost migration monetary money demand nature Note optimal outliers output period positive possible present problem production profit Promotion proteges provides reduce relationship reported Research respect response Review sector shocks shows significant social solution Statistics steady structure substitution supply Table term tests theory tion transition University utility utility function variable welfare