Redo Exercise 11.44, this time assuming Et = 100 + 0.8Yt + 0.5Yt1. Exercise 11.44 Consider this
Question:
Redo Exercise 11.44, this time assuming Et = 100 + 0.8Yt + 0.5Yt−1.
Exercise 11.44
Consider this income-expenditure model:
where Y is aggregate income and E is aggregate spending. Is this model monotonically stable, cyclically stable, monotonically unstable, or cyclically unstable?
Transcribed Image Text:
Y = E E = 100 +0.5Y, +0.2Y-1 100+0.5Y,+0.2Y
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Answer Explanation This incomeexpenditure model is monotonically stable We can analyze the stability ...View the full answer
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Related Book For
Essential Statistics Regression And Econometrics
ISBN: 9780123822215
1st Edition
Authors: Gary Smith
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