考试代写范例：宏观经济学代写 EF8078/EF5411: Topics in Macroeconomics

EF8078/EF5411: Topics in Macroeconomics

宏观经济学代写 We know Bewley-Aiyagari Models can not match the US wealth Gini coefficient. Make two possible suggestions, beside the changes on

1. Choose one SCF dataset and compute the US household’s mean wealth and Gini coefficient. List all variables that you use to compute household’s wealth.  宏观经济学代写

1. Suppose the income becomes least persistent in the endowment model. i.e. ρ decreases. Do the following by choosing ρ decreases 10 percent:

(a) Compute the new equilibrium interest rate r, wealth Gini, and consumption Gini.
(b) Does r increase/decrease if ρ decrease? Can you provide the theoretical intuition to address this change?
(c) Does wealth Gini match data better/worse if ρ decrease? Can you provide the theoretical intuition to address this change?

3. Suppose the income becomes more volatile in the Aiyagari model. i.e. σ increases. Choose a σ ≥ 0.04 to do the following:

(a) Compute the new equilibrium interest rate r, wage w, wealth Gini, and consumption Gini.
(b) Do r and w increase/decrease if σ decrease? Can you provide the theoretical intuition to address this change?
(c) Does wealth Gini match data better/worse if σ decrease? Can you provide the theoretical intuition to address this change?

1. We know Bewley-Aiyagari Models can not match the US wealth Gini coefficient. Make two possible suggestions, beside the changes on ρ and σ, so these models can generate higher wealth Gini. Provide as much details (Economic intuitions) as you can.

5. EF8078 students must finish the question.  宏观经济学代写

Assume you are hired by a government to write a model to do tax-reform policy analysis. Government’d like to understand the effects of consumption tax (tax on consumption) and capital-gain tax (tax on return of capital) on aggregate economy (GDP) and inequalities. You are given that households’ labor productivities in this economy follows a AR(1) process. Do the following:

(a) Write down a competitive equlibrium model of production.
(b) Carefully definite the competitive equilibrium you wrote down Question 5(a).
(c) Write down the algorithm that you use to solve this model.
(d) What kind of data you need to ask the government to calibrate the model?
(e) How do you run the experiment(s) on your calibrated model to address the govenerment’s request?
(f) Use the economic theories you have learnt, should government tax consumption or capital gain? Provide your intuitions.

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