TAILIEUCHUNG - Microeconomics (Sixth edition): Part 2

(BQ) Continued part 1, part 2 of Microeconomics (Sixth edition) has contents: A real intertemporal model with investment; money, banking, prices, and monetary policy; business cycle models with flexible prices and wages; international trade in goods and assets,. and other contents. Invite you to refer. | Chapter 10 Credit Market Imperfections Credit Frictions Financial Crises and Social Security Learning Objectives After studying Chapter 10 students will be able to Construct the basic credit market imperfections problem for the consumer with a kinked budget constraint. Adapt the credit markets model to deal with asymmetric information. Show how limited commitment makes collateral important in the credit markets model. Show how pay-as-you-go social security works and demonstrate what conditions are required so that it increases economic welfare. Show how fully-funded social security programs function and explain their economic role. In Chapter 9 we explored the basic elements of consumer behavior in credit markets how consumers act to smooth consumption over time in response to changes in their incomes and in market interest rates. As well we studied the aggregate effects of changes in government tax policy. A key theoretical result from Chapter 9 is the Ricardian equivalence theorem which states that a change in the timing of taxes can have no effects on consumer behavior or interest rates provided that some special conditions hold. The Ricardian equivalence theorem provides us with a firm foundation for understanding the circumstances under which government tax policy will matter. In particular as discussed in Chapter 9 the Ricardian equivalence theorem will not hold if the tax burden is not shared equally among consumers if there is intergenerational redistribution 351 352 Part IV Savings Investment and Government Deficits resulting from a change in taxes if there are tax distortions or if there are credit market imperfections. The cases under which Ricardian equivalence does not hold have practical importance in at least two respects. First credit market imperfections or frictions which cause Ricardian equivalence to fail are key to understanding some important features of how credit markets .

• Kinh tế học
• International trade
• Business cycle models
• Flexible prices
• The open economy
• Alternative forms
• International Business Management
• International Trade Theory
• The benefits of Trade
• The Patterns of International Trade
• An overview of Trade Theory
• Trade Theory and Government Policy
• International economics theory
• International economics policy
• International economics theory and policy
• International trade policy
• Political economy of trade policy
• International investment
• Investment environment
• Global trade
• Services trade patterns
• Merchandise trade patterns
• External economies
• The international location
• Developing countries
• Controversies in trade policy
• Absolute advantage
• Global economy
• Textbook on International trade
• Business law
• Textbook on International trade and business law
• International commercial dispute settlement
• International business transactions
• Lecture International Business Fundamentals
• Bài giảng Kinh doanh quốc tế
• International trade agreements
• International trade organizations
• Multinational corporation
• Global business activity
• International business
• Lecture International business
• International environmental forces
• Organizational environment
• Foreign direct Investment
• Labor productivity
• Comparative advantage
• The ricardian model
• Income distribution
• The standard trade model
• Services trade
• Australia’s position
• Instruments of trade
• Investment policies
• Multilateral trade
• Investment framework
• Regional economic integration
• Trade effects
• Export import management
• Trade finance techniques
• Global economym