I have to solve this macroeconomics II exam.

i would like to send the pdf of the exam, how can i do that?

can you help me?

(d) The one sector neoclassical model is not capable of generating the degree of persistence we

see in the data without introducing substantial serial correlation into the technology shocks,

i.e. without high . (Show how and why results depend on .)

(e) For labor supply elasticities that are more in line with microeconometric evidence, the amplitude

of the response to technology shocks is greatly diminished. For realistic labor elasticities,

the RBC economy displays only small fluctuations in hours worked for relatively large

fluctuations in productivity. As a consequence hours fluctuate too little relative to output.

(Show how and why results depend on the elasticity of labor supply.)

(f) The correlation between the real wage and output is much lower in the data then in the RBC

model. (Find a real wage series yourself and compute the correlation in the data and in the

model.)

(g) Output growth is positively correlated in the data, but not in the model. (Compare autocorrelation

of output growth in the data and in the model.)