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490k  v. 2  Dec 19, 2009, 7:56 PM  Curtis Kephart  
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118k  v. 1  Dec 19, 2009, 7:16 PM  Curtis Kephart  
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20k  v. 1  Dec 19, 2009, 7:50 PM  Curtis Kephart  
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74k  v. 1  Dec 19, 2009, 7:41 PM  Curtis Kephart  
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768k  v. 1  Dec 19, 2009, 7:51 PM  Curtis Kephart  
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82k  v. 1  Dec 19, 2009, 7:47 PM  Curtis Kephart  
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Econ 205A Macroeconomics Problem Set 4 Solutions  6980k  v. 1  Dec 19, 2009, 7:10 PM  Curtis Kephart  
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59k  v. 1  Dec 19, 2009, 7:59 PM  Curtis Kephart  
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3191k  v. 1  Dec 19, 2009, 8:02 PM  Curtis Kephart  
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3213k  v. 1  Dec 19, 2009, 8:04 PM  Curtis Kephart  
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69k  v. 1  Dec 19, 2009, 8:06 PM  Curtis Kephart  
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4265k  v. 1  Dec 19, 2009, 8:10 PM  Curtis Kephart  
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2806k  v. 1  Dec 19, 2009, 8:12 PM  Curtis Kephart  
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56k  v. 1  Dec 19, 2009, 8:13 PM  Curtis Kephart  
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1203k  v. 1  Dec 19, 2009, 8:21 PM  Curtis Kephart  
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2322k  v. 1  Dec 19, 2009, 8:16 PM  Curtis Kephart  
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61k  v. 1  Dec 19, 2009, 8:22 PM  Curtis Kephart  
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1174k  v. 1  Dec 19, 2009, 8:29 PM  Curtis Kephart  
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2585k  v. 1  Dec 19, 2009, 8:25 PM  Curtis Kephart  
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68k  v. 1  Dec 19, 2009, 8:30 PM  Curtis Kephart  
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McCallman ps2,  Oct 7, 2009, 2:06 AM  Curtis Kephart  
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Course Outline. Resource Allocation Problems. Competitive Equilibrium (CE) introduced. Inserting tradeoffs makes model more interesting. NeoClassical Growth Model: consumption, technology, endowments.  82k  v. 1  Dec 19, 2009, 8:58 PM  Curtis Kephart  
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Quiz One. Neoclassical Growth Model. Does a solution exist? is it unique? Is there a steady state? Solving the Planner's Problem; First Order Conditions, find the Steady State. Lastly, the Definition of Competitive Equilibrium.  59k  v. 1  Dec 19, 2009, 8:59 PM  Curtis Kephart  
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Competitive Equilibrium, in the ArrowDebreu Neoclassical Growth Model. Setting up the CE problem, then the steps toward the solution. Finding prices, k* and c*  48k  v. 1  Dec 19, 2009, 8:59 PM  Curtis Kephart  
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Steady State of ArrowDebreu model. SS in CE. Growth Model dynamics. Finding the steady state. Continuous Time introduced. State (stock) & Control (flow) variables. Stepbystep recipe the find Necessary & Sufficient Conditions.  79k  v. 1  Dec 19, 2009, 9:00 PM  Curtis Kephart  
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Quiz Two. Problem Set Two review. Previous lecture continued. "Necessary & sufficient conditions", in continuous time, setting up the Hamiltonian. An example using the neoclassical growth model approached via the social planner's problem. Solving optimality conditions, for the steady state. Investigating dynamics with phase diagrams.  75k  v. 1  Dec 19, 2009, 9:00 PM  Curtis Kephart  
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Continuous time phase diagrams continued. Given initial capital, what does the maximization problem look like on our phase diagram? answer: trying to land on the saddle path. Speed of convergence. Seeking the solution in the time domain & example. Seeking the solution in the state variable domain. Local stability and speed of convergence in state domain  law of motion & halflife.  97k  v. 1  Dec 19, 2009, 9:01 PM  Curtis Kephart  
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Continuing the Previous Lecture. Looking more deeply into the Steady State. Stable vs Unstable solutions. Convincing ourselves that the infinite time, continuous time maximization problems we have are well posed and the solutions we fine are in fact the solutions we're looking for. A comprehensive math review.  63k  v. 1  Dec 19, 2009, 9:01 PM  Curtis Kephart  
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Comparative Statics with a Simple Model. Looking at the tradeoff of consumption today vs consumption tomorrow, and the tradeoff between Consumption & Leisure. Also, Competitive Equilibrium in Continuous Time  66k  v. 1  Dec 19, 2009, 9:02 PM  Curtis Kephart  
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Problem Set Review. Problem Set Three, Question Three: Arrow Debreu Competitive Equilibrium vs Sequence of Markets. Problem Set Four, Question Two: CE vs Social Planner with pollution.  42k  v. 1  Dec 19, 2009, 9:02 PM  Curtis Kephart  
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(Review) Cover answers to Problems Set Four No. One, discusses and setup Problem Set Three No. Three. (Lecture) Introduce Government and Taxes to the Neoclassical Growth Model. First introducing capital taxation and transfer payments, hitting at other forms of taxation & government expenditure.  65k  v. 1  Dec 19, 2009, 9:02 PM  Curtis Kephart  
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(Review) MidTerm Question Two (Question One appears on our next problem Set). (Lecture) Measuring Welfare Consequence of Public Policy. We also discuss the Prescott Paper “Why do Americans Work So Much More than Europeans?" answer  61k  v. 1  Dec 19, 2009, 9:03 PM  Curtis Kephart  
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Picking up on the Prescott paper and taxation. Frisch Labor Supply Elasticity. Introducing Growth into the Neo Classical Growth Model.  75k  v. 1  Dec 19, 2009, 9:03 PM  Curtis Kephart  
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(Lecture note are substandard) Luca Paper. Economic Growth. Dynamic Programming Introduced.  64k  v. 1  Dec 19, 2009, 9:04 PM  Curtis Kephart  
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Quiz Three. They Dynamic Programming Problem and Bellman Equation Intro. Setting up finite horizon Bellman equation. Recipe for Solving Infinite Horizon Dynamic Programming Problems. Two examples of setting up Bellmans  social planner growth model & the growth model with habit formation  112k  v. 1  Dec 19, 2009, 9:06 PM  Curtis Kephart  
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(Review) Going over MidTerm, Question One (that's the same as Problem Set Five, Question One) & Problem Set Six  70k  v. 1  Dec 19, 2009, 9:06 PM  Curtis Kephart  
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(Review) Problem Six Continued. (Lecture) Mathematical conditions needed for dynamic programming to work.  94k  v. 1  Dec 19, 2009, 9:07 PM  Curtis Kephart  
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(A Mighty Lecture Today) Dynamic Programming Continued. Contraction Mapping Theorem. Finding the Euler’s Equation. A fancy trick that gets the Envelope Condition to lead to the Bellman Equation Solution. The Neo Classical Growth Model with in Bellman Equation Form. Finding the Steady State and examining Transition Dynamics. Competitive Equilibrium & Dynamic Programming, first looking at Neo Classical Model first, then turning to full Recursive Competitive Equilibrium (this turned out to be a small part of the final exam)  95k  v. 1  Dec 19, 2009, 9:07 PM  Curtis Kephart  
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Quiz Four. Introducing Stochastic Models. An Arrow Debreu Competitive Equilibrium in Static Stochastic Setting. The Neo Classical Growth Model, Competitive Equilibrium in a Stochastic Setting  97k  v. 1  Dec 19, 2009, 9:07 PM  Curtis Kephart  
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Stochastic Models Continued. Dynamic Programming with Stochastic Models. Markov Processes as State of Nature Variable. Discrete and Continuous Time. Setting up a Stochastic Bellman Equation.  90k  v. 1  Dec 19, 2009, 9:08 PM  Curtis Kephart  
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Continuing Notes on Dynamic Programming in Stochastic Setting. The Stochastic Growth Model  A Recursive Competitive Equilibrium for the Stochastic Growth Model. Labour Search – introducing a simple labor search model.  69k  v. 1  Dec 19, 2009, 9:08 PM  Curtis Kephart  
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(Lecture) Labor Search Continued (this turned out to comprise half our Final Exam) (Review) Problem Set Eight.  79k  v. 1  Dec 19, 2009, 9:08 PM  Curtis Kephart  
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Oct 25, 2009, 5:05 AM  Curtis Kephart  
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Oct 25, 2009, 5:04 AM  Curtis Kephart  
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87k  v. 1  Dec 19, 2009, 7:40 PM  Curtis Kephart  
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97k  v. 1  Dec 19, 2009, 8:32 PM  Curtis Kephart  
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Christina D. Romer, Chair, Council of Economic Advisers, Federal Reserve Bank of Chicago Chicago, Illinois, September 24, 2009 The anniversary of the collapse of Lehman Brothers has spurred countless speeches, newspaper articles, and conferences, such as this one. I think many have rightly felt a need to reflect on the national economic nightmare that began last September. I am certainly no exception. But, I find myself looking at the past year from two very different perspectives. One is as a policymaker focused on current economic challenges and charged with helping to shape the policy response. The other is as an economic historian with a special interest in the Great Depression.  Oct 9, 2009, 10:44 AM  Curtis Kephart  
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Gorry's first problem set for macro. The neoclassical growth model is bounded, discounting and depreciation, steady state with cobbdouglas, habit formation, durable consumption goods, feasible steady states.  Oct 7, 2009, 2:03 AM  Curtis Kephart  
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Problem set for gorry's second problem set. ArrowDebreu vs. SequenceofMarkets Equilibria, ArrowDebreu Equilibrium, and the Arrow Theorem  Oct 7, 2009, 2:00 AM  Curtis Kephart  
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Econ 211A: Advanced Econometrics I, Fall 2009 Professor Airu (Meg) Cheng Homework I  Oct 7, 2009, 2:04 AM  Curtis Kephart  
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6824k  v. 1  Nov 25, 2014, 11:56 AM  Curtis Kephart  
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142k  v. 1  Dec 19, 2009, 8:17 PM  Curtis Kephart  
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68k  v. 3  Dec 2, 2014, 10:38 PM  Curtis Kephart 