Top new questions this week:
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The body of question is: Assume the decision maker is risk averse, $u(40)=\frac{1}{2}(u(0)+u(100))$, $u(m)=\frac{1}{2}(u(0)+u(180))$, try to estimate the range of m. It is easy to get the infimum of m:…
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I saw this in a paper (however, I cannot derive it): We define the growth rate of consumption as $g_{C, s} \equiv \frac{C_s}{C_{s-1}}$ and use $C_t=\left(\prod_{s=1}^t g_{C, s}\right) C_0$ to rewrite …
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During a school project, I realized there are these consistent annual spikes in the Russian money supply chart. Any one know what these are? tradingeconomics.com/russia/money-supply-m2
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I recently finished Tamin’s The Roman Market Economy. The book describes how Roman Republic and later Roman Empire created an integrated and at the time developed European economy. I enjoyed it a lot, …
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I am currently reading this summary of various theories on how central banks control inflation. However, I got quite confused in section 3.2.4. Here is the context. Suppose we have a log-linearized …
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I couldn’t grasp what it refers to exactly so I would like to understand how we use it: from MLE, Score Vector is: $$ S(\theta;y) = \frac{\partial l(\theta;y) }{\partial \theta} $$ $l$ comes from the …
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I have such a question: In an economy with $𝐼 \ge 2 $ consumers, each agent’s utility functions are given as: $$ 𝑈(x_1 ,x_2) =max\{2min\{2x_1,x_2\},min\{x_1,4x_2\} \} $$ The endowments in the …
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Greatest hits from previous weeks:
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Let’s assume that the price of apples has risen and that the quantity of apples sold during the last couple of weeks has decreased. From that, we can infer that the supply curve must’ve shifted to the …
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I’ve seen many professors say that Godel’s incompleteness theorems don’t apply to economics. Of course I’ve seen others like Yanis Varoufakis who has on record said that many economics papers defy the …
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Currently I’m learning about finance and I want to understand the following. In the Netherlands the interest on a mortgage is about 3%-4% depending on the payback period. When learning about stocks …
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most energy markets work using “spot markets”, where everyone puts in an offer for how much electricity they can provide and at what price, and then everyone gets paid the highest price …
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I need to write 6-7 lines explaining why is the following statement true: …
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According to the aggregate demand curve, when the price level is higher, the real GDP demanded is lower. One of the explanations given is a consequence of the Mundell-Fleming model: “As the price …
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There has been a lot of innovation in the agricultural industry. GMO, giant silos, factory farming, machinery, etc. But if we look at actual food prices since 1960 food actually got more expensive. So …
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Can you answer these questions?
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I have 1980-2021 data for US personal income (nominal, unchained) and I need to convert all those years to chained 2012 dollars, and then convert it from nominal to real. I looked up the formulas and …
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I get intuitively how if there are a lot of firms selling identical products the firm demand curve would be perfectly elastic, and I also get the definition of economic profit. Say a firm is making $…
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