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Jaimovich–Rebelo Preferences
Jaimovich-Rebelo preferences refer to a utility function that allows to parameterize the strength of short-run wealth effects on the labor supply, originally developed by Nir Jaimovich and Sergio Rebelo in their 2009 article ''Can News about the Future Drive the Business Cycle?'' Let C_t denote consumption and let N_ denote hours worked at period t. The instantaneous utility has the form u\left( \right) = \frac, where X_ = C_^X_^. It is assumed that \theta>1, \psi>0, and \sigma>0. The agents in the model economy maximize their lifetime utility, U, defined over sequences of consumption and hours worked, U = E_ \sum_^ \beta^u\left( \right), where E_ denotes the expectation conditional on the information available at time zero, and the agents internalize the dynamics of X_t in their maximization problem. Relationship to other common macroeconomic preference types Jaimovich-Rebelo preferences nest the King-Plosser-Rebelo preferences, KPR preferences and the GHH prefere ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sergio Rebelo
Sergio may refer to: * Sergius (name), Sergio (given name), for people with the given name Sergio * Sergio (carbonado), the largest rough diamond ever found * Sergio (album), ''Sergio'' (album), a 1994 album by Sergio Blass * Sergio (2009 film), ''Sergio'' (2009 film), a documentary film * Sergio (2020 film), ''Sergio'' (2020 film), a biographical drama film * Sergio, the mascot for the Old Orchard Beach Surge baseball team See also *Hurricane Sergio (other) {{disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
GHH Preferences
GHH may refer to: * Garhi Harsaru Junction railway station, in Haryana, India * Ghale language * Glasgow Homeopathic Hospital, in Scotland * Greenwood–Hercowitz–Huffman preferences Greenwood–Hercowitz–Huffman preferences are a particular functional form of utility developed by Jeremy Greenwood, Zvi Hercowitz, and Gregory Huffman, in their 1988 paper ''Investment, Capacity Utilization, and the Real Business Cycle''.An arch ... * Gutehoffnungshütte, a German manufacturing company {{Disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balanced Growth Path
In macroeconomics, the balanced-growth path of a dynamic model is a trajectory such that all variables grow at a constant rate. In the standard exogenous growth model, balanced growth is a basic assumption, while other variables like the capital stock, real GDP, and output per worker are growing. Developing economies may adopt a strategy of unbalanced growth to rectify previous investment decisions, as put forward by economist Albert O. Hirschman. In microbiology, the state of balanced-growth means "every extensive property of the growing system increases by the same factor over a time interval". It is ideal for performing experiments because all bacteria are at about the same state (as opposed to stationary phase, for example, where some cells are alive and others are dead). Machines like chemostats can be used to culture bacteria and keep them in a state of balanced-growth for long-term experiment A long-term experiment is an experimental procedure that runs through a long ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |