中級宏觀經濟學上海財經大學經濟學院沈凌06rbc1(49)(編輯修改稿)
2024-08-28 17:30 本頁面
【文章內容簡介】 mics Chapter 6 18 Constructing the Budget Constraint ? Ine ? Profits ? Households may earn profit—an excess of revenue over costs—from their business activities. ? Y= A F( Kd, Ld ) ? π = PY ? (wLd+ RKd) ? π = P A F( Kd, Ld ) ? ( wLd+ RKd) Macroeconomics Chapter 6 19 Constructing the Budget Constraint ? Ine ? Wage ine ? If households supply the quantity of labor Ls to the labor market, they receive the nominal wage ine of wLs per year. ? Quantity of labor supplied is the fixed amount L, so nominal wage ine is wL. Macroeconomics Chapter 6 20 Constructing the Budget Constraint ? Ine ? Rental ine ? If households supply the quantity of capital Ks to the rental market they receive the nominal rental ine of RKs per year. ? Since households supply all of their available capital, K, to the rental market, so that Ks = K, the nominal rental ine is RK. Macroeconomics Chapter 6 21 Constructing the Budget Constraint ? Rental ine ? The quantity δK of capital disappears each year. The dollar value of this lost capital is PδK. ? nominal rental ine= nominal rental ine? value of depreciation ? nominal rental ine = RK?δPK ? nominal rental ine = (R/P)PK?δPK ? nominal rental ine= (R/P?δ)PK ? Rate of return on owning capital= R/P?δ Macroeconomics Chapter 6 22 Constructing the Budget Constraint ? Interest Ine ? If a household’s nominal bond holdings are B, the flow of nominal interest ine received is iB per year. ? Since B equals zero for the whole economy, we have that the total of interest ine equals zero. Macroeconomics Chapter 6 23 Constructing the Budget Constraint ? Total ine ? Household nominal ine= nominal profit + nominal wage ine + nominal rental ine+ nominal interest ine ? Household nominal ine =π+wL+(R/P?δ)PK+iB Macroeconomics Chapter 6 24 Constructing the Budget Constraint ? Consumption ? Households consume goods in the quantity C per year at price P ? Household nominal consumption= P C Macroeconomics Chapter 6 25 Constructing the Budget Constraint ? Assets ? Households hold assets in three forms: ? money, M。 ? bonds, B。 ? ownership of capital, K. Macroeconomics Chapter 6 26 Constructing the Budget Constraint ? Assets ? We assume that households hold a fixed amount of money in dollar terms。 that is, we assume that the change over time of a household’s nominal money holdings is zero ? ?M=0 Macroeconomics Chapter 6 27 Constructing the Budge
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