13 shows that the choice of the credit spread as a proxy for credit frictions is adequate. i calculate the lagrange multiplier on the credit constraint ( \(\mu _t\) ) as a residual from condition ( 12 ) using us data (on the markup and labor share) and the functional forms. in ...
For the purpose of developing a simple landslide mobility equation, momentarily we consider the motion down an inclined slope. In this situation\(\frac{u}{| u| }=1\)and\(-{g}^{z}\frac{\partial b}{\partial x}=0\). Later, we will again restore these terms while presenting the full...
Equation (21) shows that the marginal cost of public funds for all tax instruments should be equalized at the optimal tax system. Hence, the marginal cost of public funds for the income tax should be equal to the marginal cost of public funds for the lump-sum tax. Therefore, from Eq. ...
Multiplying any Pythagorean triple by any positive integer (as in, applying the same multiplier to all sides of the same triangle) will give you similar results. Who Was Pythagoras? The Pythagorean equation is most often attributed toPythagoras of Somos, but we now know that many ancient civiliz...
外,政府债务一般由公众持有。430、Goverment expenditure multiplier 政府支出乘数 政府采购等支出每增加一美元所引起的 GDP 的增量。 431、Graduated income tax 累进所得税 见个人所得税(income tax, personal)。 432、Gresham`s Law 格雷欣法则 由托马斯•格雷欣爵士(Sir Thomas ...
However, the multiplier effect incorporates two additional impacts: the indirect impact and the induced impact. The indirect impact of the government benefit above is that the individual takes their tax benefit and spends it. These funds do not sit idly by in one bank account; it may be spread...
In order to reduce the number of tax instruments to one, we impose that τtC, τtW and τtL deviate from their respective steady state by the same proportion (i.e. τtC=τtτ¯C, τtW=τtτ¯W, τtL=τtτ¯L), and that the proportional uniform tax change, τt, becomes ...
q.what would happen to the money multiplier? a.there's no such thing as the "money multiplier". this phrase is weasel wording for equating assets of different types. the private instrument used to measure value expected in the future is not equal to the public instrument used to measure va...
The specific approach is to introduce the slack variable to change inequality constraints into equality constraints and to solve the Lagrange equation on the basis of the constraint equation for the optimization problem. Note that the KKT multiplier is greater than or equal to 0 [17]. For the ...
During this step of estimation, the log-likelihood value LL3 and the values of parameters a̲, b , andg a¯, b¯, andg¯ are obtained from the estimation of the correlation matrix equation: 𝐐𝐭=(𝐐 −a′𝐐 −b′𝐐 −g′𝐍 )+a′𝐮𝐭−1𝐮′𝐭−1+...