ADVANCEDMACROECONOMICSCHAPTER2汇.ppt

Ch2 Infinite-horizon and Overlapping-  generations Models (无限期与跨期模型) 基本思路:研究储蓄率（即资本积累）的内生性，为此引入微观经济主体（消费者）的决策行为，即消费者在预算约束条件下最大化其效用。 Part A Ramsey-Cass-Koopmans Model §2.1 Assumptions 1.Firms: (1) Perfect competition; (2) Lots of identical firms→生产函数可加总; (3)δ=0(No depreciation). 2.Households: (1)A large number of identical households (H); (2)The size of each household grows at rate n; (3)1 unit of labor supplied by each member of the household at every point in time; (4)Initial capital holdings of the household: (6)The instantaneous utility function takes the form: §2.2 Behavior of Households and Firms 1.Behavior of Firms: 　Assumption：Constant returns to scale, perfect competition, firms earn zero profits. (1)The marginal product of capital: (资本的边际产出) 2.Behavior of households (1) Households’ Budget Constraint The present value of its lifetime consumption cannot exceed its initial wealth plus the present value of its lifetime labor income. 移项得： 每个家户期末（s）财富存量： Thus the Budget Constraint Can Be written Simply as: (2)Household’s maximization problem: Note: The representative household wants to maximize its lifetime utility subject to its budget constraints. 将(2.11)和 L(t)=L(0)ent ，以及 Now consider the budget constraint (3) Household Behavior The household’s problem is to choose the path of c(t) to maximize lifetime utility, (2.12), subject to the budget constraint,(2.14). We can therefore set up the Lagrangian: §2.3 The Dynamics of the Economy 1.The Dynamics of c §2.5 The Balanced Growth Path PART B The Diamond Model 2.8 Assumptions: 1.人口数量新陈代谢； 2.离散时间，并将生命周期简化为两期； 3.C1t：t时期年轻人的消费， C2t ： t时期老轻人的消费； t时期出生的个人效用函数为： 2.8 Assumptions: 4.生产函数：与以前的假定相同。 结论（1）当rt+1＞ρ时，由 （2）当rt+1＜ρ时， 2.9 Household Behavior: 3.消费函数 将2.47式代入2.44式得到2.53式: 资本积累的内生性 2.10 The Dynamics of the Economy: 1.k的运动方程 (2.58) 2.考虑特例 当θ=1时，s=1/(2+ρ)，并设生产函数为C