高级宏观第六章

案例1：稳健货币政策中的“适度从紧”案例内容:1997年以来，我国所实行的货币政策长期被称为稳健的货币政策，这一政策强调的是货币信贷增长与国民经济增长大体保持协调关系，但在不同时期有不同的特点和重点，因为经济形势的变化，就要求适度调整的政策实施的力度和重点。

例如，从2001年11月份开始，我国居民消费物价指数开始出现负增长，经济运行出现通货紧缩局面长达14个月，这种通货紧缩不仅表现为消费需求不足，也表现为投资需求不足，整个经济增长乏力。

但是，在2003年居民消费物价指数由负转正仅一年时间，通货紧缩阴影尚未完全消散的情况下就出现了严重的投资过热趋势。

其原因有几个，一是1998年以来我国多年实施积极财政政策，这些政策实施中的投资项目大多为基础设施建设项目，这必然带动钢铁、水泥等行业热起来；二是地方政府的“投资冲动”，各地搞“政绩工程”；三是我国经济市场化程度提高后，利益主体也多元化，使地方政府与经济主体间形成默契与投资合力，再加上房地产行业在这几年的暴利引诱，造成钢铁、水泥等行业的异常投资冲动。

固定资产投资增长过快、规模过大以及投资结构的严重失调这两大问题，在银行信贷上也得到了充分反映。

中央政府高度警惕地看到了这一矛盾，及时做出了调控决策。

考虑到积极财政政策已到了必须淡出的时候，所以必须从货币政策方面考虑调控，央行采取了一系列措施：一是提高法定准备率（2003年9月21日起，把原来6.1%的法定准备率提高到7％，2004年4月25日起，再把准备率从7％提高到7.5%）。

二是实行差别存款准备金率，从2004年4月25日起，将资本充足率低于一定水平的金融机构的存款准备率提高0.5个百分点。

三是建立再贷款浮动制度，2004年3月25日起，在再贴现基准利率基础上，适时确定并公布中央银行对金融机构货款利率加点幅度，同时决定，将期限在1年以内、用于金融机构头寸调节和短期流动性支持的各档次再贷款利率在现行再贷款基准利率基础上统一加0.63个百分点，再贴现利率在现行基准利率基础上统一加0.27个百分点。

A Baseline Case: Fixed PricesWe begin with the extreme case where nominal prices are not just less than fully flexible, but completely fixed.Assumptions1）Time is discrete. Firms produce output using labor as their only input. Aggregate output is therefore given by ：(L),F'()0F''(0)0Y F =>≤， （6.1） 2）we ignore population growth and normalize the number of households to 1. Therepresentative household ’s objective function is ：(C )()V(L )t tt t t t M U P μβ∞=⎡⎤=+Γ-⎢⎥⎣⎦∑, 01β<< （6.2）3）There is diminishing marginal utility of consumption and money holdings,andincreasing marginal disutility of working:U'()0,U''()0,'()0,''()0,'()0,''()0.V V ><Γ>Γ<>> We assume that ()U and ()Γtake our usual constant-relative-risk-aversion forms:1(C ),01t t C U θθθ-=>- （6.3）1(/P )(),01vt t t t M M v P v -Γ=>- （6.4）4) Let At denote the household ’s wealth at the start of period t . Its labor income is WtLt (where W is the nominal wage), and its consumption expenditures are PtCt . The quantity of bonds it holds from t to t + 1 is therefore At + WtLt − PtCt − Mt . Thus its wealth evolves according to:1(A WL P )(1)t t t t t t t t t A M C M i +=++--+ （6.5） The household takes the paths of P , W , and i as given. It chooses the paths of C and M tomaximize its lifetime utility subject to its flow budget constraint and a no-Ponzi-game condition (see Section 2.2).L is exogenous to the household and the path of M is exogenous and the path of i is determined endogenously.Household BehaviorThe household reduces Ct by dC , and therefore increases its bond holdings by PtdC . It then uses those bonds and the interest on them to increase Ct +1 by (1 +it )PtdC /Pt +1.Equivalently, it increases Ct +1 by (1+rt )dC , where rt is the real interest rate,defined by 1 + rt = (1 + it )Pt /Pt +1.2 Analysis paralleling that in the earlier chapters yields:1C (1r )C t t t θθβ--+=+ （6.6）Taking logs of both sides and solving for ln Ct gives us:11ln ln ln[(1r )]t t t C C βθ+=-+ （6.7）First, and most importantly, recall that the only use of output is for consumption and that we have normalized the number of households to 1. We therefore substitute Y for C . Second, for small values of r , ln(1 + r ) ≈ r . For simplicity, we treat this relationship as exact. And third, we suppress the constant term, −(1/θ) ln β.These changes give us:11lnY ln r t t t Y θ+=- （6.8）Equation (6.8) is known as the new Keynesian IS curve . The main difference from the traditional IS curve is the presence of Yt +1 on the right-hand side.Suppose the household raises Mt /Pt by dm and lowers Ct by [t i /(1 + t i )]dm . The household ’s real bond holdings therefore fall by {1 − [t i /(1 + t i )]}dm , or [1/(1 +t i )]dm . This change has no effect on the household ’s wealth at the beginning of period t +1. The utility benefit of the change is 'Γ(Mt /Pt )dm , and the utility cost is U ’(Ct )[it /(1 + it )]dm . The first-order condition for optimal money holdings :'()'()1t t t t tM iU C P i Γ=+ （6.9）Since U (•) and _(•) are given by (6.3) and (6.4) and since Ct = Yt , this condition implies:/1/1()v vt t t t tM i Y P i θ+= （6.10）Thus money demand is increasing in output and decreasing in the nominal interest rate.The Effects of Shocks with Fixed Prices I n this section we assume ：t =P Pforallt（6.11）Equation (6.8),the new Keynesian IS curve, implies an inverse relationship between the interest rate and output (for a given value of the expectation of next period ’s output). The set of combinations of the interest rate and output that satisfy equation (6.10) for optimal money holdings (for a given level of the money supply) is upward-sloping. The two curves are shown in Figure 6.1. They are known as the IS and LM curves.Figure 6.1 The IS-LM diagramrYISLMFor concreteness , consider an increase in the money supply in period t that is fully reversed the next period, so that future output is unaffected. The increase shifts the LM curve down and does not affect the IS curve. As a result, the interest rate falls and output rises. This is shown in Figure 6.2. Thus we have a simple but crucial result: with nominal rigidity, monetary disturbances have real effects.Figure 6.2 The effects of a temporary increase in the money supply with completely fixed pricesrYLMISLM ’A Permanent Output-Inflation Tradeoff?To build a model we would want to use in practice, we need to relax the assumption that nominal prices or wages never change.Ways to do this: suppose that the level at which current prices or wages are fixed is determined by what happened the previous period.Suppose that rather than being an exogenous parameter, W is proportional to the p evious period’s price level . That is, suppose that wages are adjusted to make up for the previ ous period’s inflation:t 1=,t W AP -0A > (6.20) 1()t t t AP F L P -'=,1t Aπ=+ (6.21)where t π is the inflation rate. Equation (6.21) implies a stable, upward sloping relationship between employment (and hence output) and inflation. Since higher output is associated with lower unemploy ment, it also implies a permanent unemploy ment-inflation tradeoff.There appeared to be both theoretical and empirical support for a stable unemploy ment-inflation tradeoff.The Natural RateThe case for this stable tradeoff was shattered in the late 1960s and early 1970s. • The case for this stable tradeoff was shattered in the late 1960s and early 1970s.In • the long run, they argued, the behavior of real variables is determined by real forces. •The empirical downfall of the stable unemployment-inflation tradeoff is illustrated by Figure 6.7, which shows the combinations of unemployment and inflation in the United States during the heyday of belief in a stable tradeoff and in the quarter- century that followed.FIGURE 6.7 Unemployment and inflation in the United States, 1961–1995•One source of the empirical failure of the Phillips curve is mundane: if there are disturbances to supply rather than demand, then even the models of the previoussection imply that high inflation and high unemployment can occur together.•Yet these supply shocks cannot explain all the failings of the Phillips curve in the 1970s and 1980s.•Thus, the models of price and wage behavior do not provide even a moderately accurate description of the dynamics of inflation and the choices facing policymakers.We must therefore go further if our models of the supply side of the economy are to be used to address these issues.The Expectations-Augmented Phillips CurveOur goal is to directly specify a model of pricing that is realistic enough to have some practical use. Modern non-micro-founded formulations of pricing behavior generally differ from the simple models in three ways.• First, neither wages nor prices are assumed to be completely unresponsive to the current state of the economy.• Second, the possibility of supply shocks is allowed for.•Third, adjustment to past and expected future inflation is assumed to be more complicated.A typical modern non-micro-founded formulation of supply —expectations-augmented Phillips curve （Accelerationist Phillips Curve ） -*st t tt tlnY ln Y ππλε⎛⎫=+-+ ⎪⎝⎭λ>0. (6.22) *πis known as core or underlying inflation.A simple model of *π：*t t-1=ππ (6.23)With this assumption, there is a tradeoff between output and the change in inflation, but no permanent tradeoff between output and inflation . •Success of the model ——the behavior of unemployment and inflation from 1980 to 1995 is consistent with the model •drawback of the model ——it assumes that the behavior of core inflation is independent of the economic environment . That is,if policymakers are willing to accept ever-increasing inflation, they can push output permanently above its natural rate . •【Friedman and Phelps 】 if policymakers attempt to pursue this strategy, workers and firms will eventually stop following (6.22)–(6.23) and will adjust their behavior to account for the increases in inflation they know are going to occur; as a result, output will return to its natural rate. •how rapidly core inflation adjusts to changes in inflation is likely to depend on how long-lasting actual movements in inflation typically are.replace core inflation with expected inflation: -e st t tt tlnY ln Y ππλε⎛⎫=+-+ ⎪⎝⎭(6.24) e t πis expected inflation.Limitation ——if one assumes that price- and wage-setters are rational in forming their expectations, then (6.24)will not be supported by the data.A hybrid Phillips curve: a weighted average of past inflation and expected inflation -est t tt-1t t(1)+lnY ln Y πφπφπλε⎛⎫=+--+ ⎪⎝⎭0 ≤ φ ≤ 1. (6.25) There is some inertia in wage and price inflation. That is, there is some link between past and future inflation beyond effects operating through expectations.Aggregate Demand, Aggregate Supply, and the AS-AD Diagramthe new Keynesian IS curve11ln [ln ]t t t Y E Y r θ+=-and the LM curve1(1)[]t t t t tM i Y P i θυυ+= these equations led to the IS-LM diagram in (Y , r) space(Figure 6.1).Once we relax Section 6.1’s assumption that prices are permanently fixed; changes in either t P or e πshift the LM curve in (Y , r) space.Modern central banks do not focus on the money supply we simply assume that the central bank conducts policy so as to make the real interest rate an increasing function of the gap between actual and potential output and of inflation(ln ln ,)t t t t r r Y Y π=- ()()0,0r r ∙>∙>(6.26)1(1)[]t t tt t t tM r Y P r θυυππ++=+The central bank’s interest -rate rule(6.26), directly implies an upward sloping relationship between t Y and t r (for a given value of t π). This relationship is known as the MP curve.The AS curve follows directly from (6.22),*(ln ln )S t t t t t Y Y ππλε=+-+The AD curve comes from the IS and MP curves. R rises and Y fallsFigure 6.8 The IS-MP diagramrYISMPFigure 6.9 The AS-AD diagramπYASADExample: IS ShocksA there-equation model: the new Keynesian IS curve, the MP curve, and the AS curve. Assumptions:1) The monetary-policy rule depends only on output and not on inflation;2) The only shocks are to the IS curve, and that the shocks follow a first-order autoregressive process;3) ln 0t Y -=, the MP curve is linear, the constant term in the MP curve is zero, andln t t y Y -=.The system:1t t t y ππλ-=+, 0λ>, (6.27)t t r by =, 0b >, (6.28)[]11IS t t t t t y E y r u θ+=-+, 0θ>, (6.29)1IS IS ISt IS t t u u e ρ-=+, 11IS ρ-<<, (6.30)Combine (6.28) and (6.29) to solve for t y :[]1IS t t t t y E y u bbθθθθ+=+++[]1IS t t t E y u φφ+≡+, (6.31)where ()/b φθθ=+, 01φ<<Note that (6.31) holds in all future periods:1ISt j t j t j t j y E y u φφ+++++⎡⎤=+⎣⎦ for 1,2,3,j = (6.32)Taking expectations of both sides of (6.32) as of time t implies1j ISt t j t t j IS t E y E y u φφρ+++⎡⎤⎡⎤=+⎣⎦⎣⎦. (6.33) Iterate (6.31) forward:[]()2IS IS t t t t IS t y u E y u φφφφρ+=++[]()2223IS IS ISt IS t t t IS t u u E y u φφρφφφρ+=+++= (6.34)[]232()lim IS n IS IS t t t n n u E y φφρφρφ+→∞=++++[]lim 1IS n t t t n n ISu E y φφφρ+→∞=+-.If we assume that []lim 0n t t n n E y φ+→∞=(it is appropriate) and substitute back in for φ,we obtainIS t t ISy u b θθθρ=+-. (6.35)This expression shows how various forces influence how shocks to demand affect output.1) '()0t y b <, a more aggressive monetary-policy response to output movements (that is, a higher value of b ) dampens the effects of shocks to the IS curve. 2) If the IS equation is just ()1/IS t t t y r u θ=-+, output is []/()IS t b u θθ+. Equation (6.35) shows that accounting for forward-looking behavior raises the coefficient on IS t u as long as 0IS ρ>. That is, forward-looking consumption behavior magnifies the effects of persistent shocks to demand.3) Equation (6.35) for output and the AS equation (6.27), imply that inflation is given by1IS t t t ISu b θλππθθρ-=++-. (6.36)(6.36) shows that there is no feedback from inflation to the real interest rate, there is no force acting to stabilize inflation. Indeed, if the shocks to the IS curve are positively serially correlated, the change in inflation is positively serially correlated.One other aspect of this example: suppose 1φ> but 1IS φρ< (not only 1 solution)1) If 0b <, that is the central bank will cut the real interest rate in response to increases in output, 1φ>could arise.With 1IS φρ<, the sum in equation (6.34) still converges, so that is still correct.If (6.35) holds, [][]lim lim /()0n n nIS t t n IS IS t n n E y b u φφρθθθρ+→∞→∞=+-=.That is, although one might expect 1φ>to generate instability, the conventional solution to the model still carries over to this case as long as 1IS φρ<.2) If 1φ>, then maybe []lim 0n t t n n E y φ+→∞≠ without []t t n E y +diverging. As a result,there can be spontaneous, self-fulfilling changes in the path of output.To see this, suppose 0IS t u = and 0t y = for all t, in period 0 y raises by someamount x —not because of a nonzero realization of 0IS u , but simply because achange in agents ’ beliefs about the equilibrium path of the economy. If agents ’ expectation of /(0)t t y x t φ=≥, they will act in ways that make their expectations correct. That is, this change can be self-fulfilling.Part B Microeconomic Foundations of Incomplete Nominal AdjustmentPrices and wages are quoted in nominal terms, but it costs little to change (or index) them. Most of this part of the chapter addresses these questions for a specific view about the nominal imperfection. The goal is to characterize the microeconomic conditions that cause menu costs to lead to significant nominal stickiness in response to a one-time monetary shock.。

西方经济学第17章(宏观第6章)西方经济学第17章(宏观第6章)（一）问答题1、总需求曲线的理论来源是什么？为什么IS-LM模型中，由P（价格）自由变动，即可得到总需求曲线？答：（1）总需求是整个经济社会对产品和劳务的需求总量，这一需求总量通常以产出水平来表示。

一个经济社会的总需求包括消费需求、投资需求、政府购买和国外需求。

总需求量受多种因素的影响，其中价格水平是一个重要的因素。

在宏观经济学中，为了说明价格水平对总需求量的影响，引入了总需求曲线的概念，即总需求量与价格水平之间关系的几何表示。

在凯恩斯主义的总需求理论中，总需求曲线的理论来源主要是产品市场均衡理论和货币市场均衡理论来反映。

（2）在IS-LM模型中，一般价格水平被假定是一个常数（参数）。

在价格水平固定不变且货币供给为已知的情况下，IS曲线和LM曲线的交点决定均衡的收入（产量）水平。

如图17-1所示：图17-1分上下两个部分，上图为IS—LM 图。

下图表示价格水平和需求总量之间的关系，当价格P的数值为P1时，此时的LM曲线LM（P1）与IS曲线相交与E1点，E1点所表示的国民收入和利率顺次为y1和r1。

将P1和y1标在下图中便得到总需求曲线上的一点D1。

现在假设P由P1下降到P2。

由于P的下降，LM曲线移动到LM（P2）的位置，它与IS曲线的交点为E2点。

E2点所表示的国民收入和利率顺次为y2和r2。

对应于上图中的点E2又可在下图中找到D2。

按照同样的程序，随着P的变化，LM曲线和IS曲线可以有许多交点，每一个交点，都代表着一个特定的y 和P。

于是就有许多P与y的组合，从而构成了下图中的一系列点。

把这些点连在一起所得的曲线AD便是总需求曲线。

从推导总需求曲线的过程看到，总需求曲线曲线表示社会的需求总量和价格水平之间的相反方向的关系。

即总需求曲线是向右下方倾斜的。

向右下方倾斜的总需求曲线表示，价格水平越高，需求总量越小；价格水平越低，需求总量越大。

目　录第1章　索洛增长模型第2章　无限期模型与世代交叠模型第3章　内生增长第4章　跨国收入差距第5章　实际经济周期理论第6章　名义刚性第7章　动态随机一般均衡周期模型第8章　消　费第9章　投　资第10章　失　业第11章　通货膨胀与货币政策第12章　预算赤字与财政政策第1章　索洛增长模型1.1 增长率的基本性质。

利用变量增长率等于其对数的时间导数这一性质证明：（a）两个变量之积的增长率等于其各自增长率之和。

即，若Z（t）＝X（t）Y（t），则：（b）两个变量之比的增长率等于其各自增长率之差。

即，若Z（t）＝X（t）/Y（t），则：（c）若Z（t）＝X（t）α，则。

证明：（a）因为一个变量的增长率等于对该变量取对数后再对时间求导，那么可得下式：因为两个变量的积的对数等于两个变量各自对数之和，所以有下式：再简化为下面的结果：则得到（a）的结果。

（b）因为一个变量的增长率等于对该变量取对数后再对时间求导，那么可得下式：因为两个变量的比率的对数等于两个变量各自对数之差，所以有下式：再简化为下面的结果：则得到（b）的结果。

（c）因为一个变量的增长率等于对该变量取对数后再对时间求导，那么可得下式：又由于ln[X（t）α]＝αlnX（t），其中α是常数，有下面的结果：则得到（c）的结果。

1.2 假设某变量X的增长率从时刻0到时刻t1为常数，并且等于a＞0；在时刻t1降为0；从时刻t1到t2逐渐从0增加到a；在时刻t2后为常数，并且等于a。

（a）用图形表示出X的增长率随时间的变化。

（b）用图形表示出lnX随时间的变化。

答：（a）根据题目的规定，X的增长率的图形如图1-1所示。

从时刻到t 1时刻X的增长率为常数且等于a（a＞0），为图形中的第一段。

X的增长率从0上升到a，对应于图中的第二段。

从t2时刻之后，X的增长率再次变为a。

图1-1　时间函数X的增长率（b）注意到lnX关于时间t的导数（即lnX的斜率）等于X的增长率，即：因此，lnX关于时间的图形如图1-2所示：从0时刻到t1时刻，lnX的斜率为a（a＞0），在t1时刻，X（t）的增长率出现不连续的变化，因此lnX 的斜率出现扭曲，在t1时刻至t2时刻，lnX的斜率由0逐渐变为a；从t2时刻之后，lnX的斜率再次变为a（a＞0）。

高级宏观经济学题解指南第五版1. 概述高级宏观经济学作为经济学领域的重要分支，在当今全球化、多样化的经济环境中扮演着至关重要的角色。

它涉及到国家整体经济发展、宏观经济政策、国际经济关系等诸多方面，对于经济学专业学生来说，学习高级宏观经济学知识是非常必要且重要的。

为了帮助学生更好地理解和掌握高级宏观经济学领域的知识，我们特此编写了本《高级宏观经济学题解指南第五版》。

2. 本书特点本书是在前四版的基础上进行了全面修订和更新，内容更加丰富、系统，涵盖了高级宏观经济学领域的核心理论、模型和实践应用。

与此本书还添加了大量的案例分析和实证研究，以帮助读者更好地理解理论知识，并将知识应用到实际问题中。

3. 本书构成本书共分为十章，分别是经济增长、产出与物价、货币与银行、国际贸易、国际货币体系、国际财政政策、经济周期、货币政策、财政政策以及宏观经济政策的协调。

每一章都涵盖了该领域的重要理论和案例，以及专门的习题训练部分。

4. 本书意义本书旨在帮助读者更好地理解高级宏观经济学的重要理论，掌握分析宏观经济问题的方法，同时也能够应用相关知识解决实际经济问题。

通过学习本书，读者将能够更好地理解和把握当前国际经济形势，更好地为国家和社会的经济发展做出贡献。

5. 结语《高级宏观经济学题解指南第五版》作为一部权威的高级宏观经济学教材，将对读者的学习和研究提供重要的帮助。

我们相信，通过认真学习和研究本书，读者一定能够更好地理解和应用高级宏观经济学的理论知识，为国家和社会的经济发展做出积极的贡献。

祝愿读者学习愉快、收获满满！扩写新内容第一部分的内容：6. 续写第一部分的内容：本书旨在帮助读者更好地了解高级宏观经济学的重要理论，并掌握分析宏观经济问题的方法。

宏观经济学作为经济学的重要分支，是研究整体经济运行规律以及经济政策对整体经济的影响的学科，而高级宏观经济学则更着重于深入探讨宏观经济学的核心问题，如经济增长、货币政策、财政政策等。

《高级宏观经济学》教学大纲（硕士研究生） - RonaldoCarpio《高级微观经济分析》教学大纲(博士研究生)课程代码:(按本专业或方向培养方案填写)课程名称:(按本专业或方向培养方案填写)英文名称:Advanced Microeconomic Analysis课程性质:(按本专业或方向培养方案填写)学分学时:3学分，48学时授课对象:金融学院一年级博士研究生课程简介:Based on Microeconomics I (for master students), the course will discuss thecontemporary development in microeconomics. This course is also designed to develop andextend the students’ analytical and reading skills in modern microeconomics. A student who haspassed the course should be able to read typical articles in the mainline journals, understand theanalytical derivations and arguments commonly used in the literature, and know how to solve themore widely used models.先修课程:Microeconomics for master students选用教材:1、 Mas-Colell, A., M. D. Whinston, and J. Green, Microeconomic Theory. (MWG)2、 Jehle, Geoffrey A. and Philip J. Reny, Advanced Microeconomic Theory. (JR)考核方式与成绩评定:Final Exam %; Midterm Exam %; Class Participation % 主讲教师:Carpio Ronaldo、颜建晔所属院系:金融学院联系方式:******************、*******************答疑时间及地点:求索楼123,Wednesday 13:30-14:30 (Carpio)，Tuesday 15:00-17:00(颜)第一章:Consumer Theory教学目标和要求:Understand the consumer’s problem and consumer demand.教学时数:6学时教学方式:讲授准备知识:calculus教学内容:Preferences, Utility, and Consumer’s Problem第一节:Consumer’s Problem第二节:Indirect Utility, Demand作业与思考题:JR Ch 1.6参考资料:JR Ch 1, Appendix A1, A21第二章: Topics in Consumer Theory教学目标和要求:Understand duality, integrability, and uncertainty.教学时数:6 学时教学方式:讲授准备知识:statistics教学内容:Duality, Integrability, and Uncertainty 第一节:Duality of Consumer’s Problem第二节:Revealed Preferences & Uncertainty 作业与思考题:JR Ch 2.5 参考资料:JR Ch 2第三章: Theory of the Firm教学目标和要求:Understand the firm’s profit maximization problem.教学时数:6 学时教学方式:讲授准备知识:Chapter 1,2教学内容:Production, Cost, Profit Maximization 第一节:Production Functions & Cost第二节:Duality in Production, Competitive Firms 作业与思考题:JR Ch 3.6参考资料:JR Ch 3第四章: Partial Equilibrium教学目标和要求:Understand partial equilibrium markets. 教学时数:3学时教学方式:讲授准备知识:Chapter 3教学内容:Perfect & Imperfect Competition, Welfare 第一节:Competition 第二节:Equilibrium & Welfare作业与思考题:JR Ch 4.4参考资料:JR Ch 4第五章: Walras’/competitive equilibrium2教学目标和要求:competitive market economies from a Walrasian (general) equilibrium perspective.Let students understand “why the competitive market/equilibrium may work or fail?”教学时数:6学时方式:讲授教学准备知识:consumer theory, production theory教学内容:第一节:Walrasian economy and mathematical language of microeconomics 第二节:competitive equilibria of pure exchange and with production 作业与思考题:JR5.5, exercises of MWG Ch15, 18, 教师自编习题集参考资料:MWG Mathematical Appendix, Ch15, 18; JR5.4第六章: Social choice function/theory and social welfare: normative aspect of microeconomics教学目标和要求:When we judge some situation, such as a market equilibrium, as “good”or “bad”, or “better” or “worse” than another, we necessarily make at least implicit appeal to some underlying ethical standard. Welfare economics helps to inform the debate on social issues by forcingus to confront the ethical premises underlying our arguments as well as helping us to seetheir logical implications.Let students have a systematic framework for thinking about normative and social welfare topics.教学时数:3学时教学方式:讲授准备知识:Walrasian equilibrium教学内容:第一节:social choice, comparability, and some possibilities第二节:Rawlsian, Utiliterian, and flexible forms作业与思考题:JR6.5, exercises of MWG Ch21, 22, 教师自编习题集参考资料:MWG Ch21.A, Ch21.E, Ch22.C; JR Ch6第七章: Strategic Behavior and Asymmetric Information教学目标和要求:A central feature of contemporary microeconomicsafter Walrasian economy is the multi-agent interaction which represents the potential for the presence of strategicinterdependence. Let students grasp classic models of imperfect competition under symmetric and asymmetric information.3教学时数:3学时教学方式:讲授准备知识:perfect competition教学内容:第一节:monopoly and oligopoly under symmetric information第二节:oligopoly under asymmetric information作业与思考题:教师自编习题集参考资料:MWG Ch12; JR Ch4第八章: Theory of Incentives教学目标和要求:The strategic opportunities that arise in the presence of asymmetricinformation typically lead to inefficient market outcomes, a form of market failure. Underasymmetric information, the first welfare theorem no longer holds generally. Thus, the main themeto be explored is to stimulate different agents’ optimal/efficient behaviors in differentinformational settings to achieve the “second-best” market outcomes.教学时数:9学时教学方式:讲授准备知识:Strategic Behavior and Asymmetric Information教学内容:第一节:Adverse selection第二节:Moral hazard*第三节:Task separation/integration,第三节:Career concern作业与思考题:exercises of MWG Ch13, 14, 教师自编习题集参考资料:JR Ch8; MWG Ch13, 14第九章前沿研究讲座:待定邀请校外老师(待定)给学生们讲演最新研究，引导学生讨论;在学生掌握现代微观经济学基本模型之后能够接触到前沿研究。

罗默《高级宏观经济学》（第3版）第6章 不完全名义调整的微观经济基础跨考网独家整理最全经济学考研真题，经济学考研课后习题解析资料库，您可以在这里查阅历年经济学考研真题，经济学考研课后习题，经济学考研参考书等内容，更有跨考考研历年辅导的经济学学哥学姐的经济学考研经验，从前辈中获得的经验对初学者来说是宝贵的财富，这或许能帮你少走弯路，躲开一些陷阱。

以下内容为跨考网独家整理，如您还需更多考研资料，可选择经济学一对一在线咨询进行咨询。

6.1 考虑在卢卡斯模型中一个个人在/i P P 未知时所面临的问题。

个人选择i L 去最大化i U 的期望值，i U 继续由方程i ii i P P L L U γγ=-给定。

（a ）找出i L 的一阶条件，并且将此条件进行整理，以便获得用[]/i E P P 表示的i L 的表达式，给这个表达式取对数，以获得i l 的表达式。

（b ）同（a ）部分推出的最优量相比较，如果个人遵循11i i i l E P γγ=⎡⎤⎣⎦-中的确定性等价规则，其怎样地供给劳动量？（揭示：如何把()ln /i E P P ⎡⎤⎣⎦与()ln /i E P P ⎡⎤⎣⎦进行比较？）（c ）设（如在卢卡斯模型那样）()()ln /ln /|i i i i P P E P P P u ⎡⎤⎣⎦=+，其中，i u 是正态分布的，其均值为零，并且方差不依存于i P 。

这意味着(){}()|ln /l |n /i i i i E P P p E P P P C =+⎡⎣⎡⎤⎣⎦⎤⎦——这里C 是一个常数，其值独立于i P 。

（提示：注意(){}()/exp ln /|exp i i i i P P E P P P u =⎡⎤⎣⎦，并且表明这意味着使期望效用最大化的i l 不同于（6.17）中的确定性等似性规则的i l ，其差别仅是一个常数。

）答：（a ）个人的行为就是在知道价格i P 的情况下，决定劳动供给量i L ，最大化预期效用，如下所示：()()max 1/ii i i L E C L P γγ⎡⎤-⎣⎦将/i i i C PQ P =和i i Q L =代入上式得：1max ii i i i L PL E L P P γγ⎡⎤⎛⎫-⎢⎥ ⎪⎢⎥⎝⎭⎣⎦因为其中只有P 是不确定的，因此上式可以写成：()()max 1//ii L i i i E P P L L P γγ⎡⎤-⎣⎦ 一阶条件为：()1/0i i i P L P E Pγ-⎡⎤-=⎣⎦ （1） 因此最优的劳动供给为：{}()1/1/i i i L E p P P γ-=⎡⎤⎣⎦（2）将（2）两边取对数并定义ln i i l L ≡得：()()1/1ln /|i i i l E P P P γ=-⎡⎤⎣⎦⎡⎤⎣⎦ （3）（b ）遵循确定性等价规则，个人供应的劳动数量为（对数形式）：()()1/1|/i i i l E P P P γ=-⎡⎤⎣⎦⎡⎤⎣⎦ （4）因为()ln /i P P 是()/i P P 的凹函数，根据詹森不等式得：()()ln /n /|l |i i i i E P P P E P P P >⎡⎤⎣⎦⎡⎤⎣⎦如果个人遵循确定性等价规则，个人供应的劳动数量小于（a ）部分的最优劳动数量。

第六章理性生产者前面三章研究了消费者行为理论，从本章开始我们研究生产者行为，讨论生产最优化问题。

理性生产者是利润最大化的追求者，这是研究生产者行为的基本前提。

为了揭示生产活动的规律，我们将从收益与成本两方面进行分析。

同消费者行为理论一样，我们要分析生产者是如何依据价格进行决策的。

本章的讨论将按照单一产品的生产和多种产品的生产两种情形分别进行。

第一节生产函数生产者也叫做厂商、企业、或公司，生产者从事的经济活动称为生产活动。

任何生产活动都表现为投入一定数量的若干种商品，生产出一定数量的产品，并把产品提供给市场进行销售，以产品的全部售出为终结。

这种以投入为开端，以售完产品为终结的整个过程，称为生产过程。

企业的生产技术水平、人员素质、组织水平及企业家才能等，都在生产过程中得到完全反映。

为了揭示生产活动的规律，我们首先研究单一产品生产的情形。

一、生产要素产品不会无中生有。

企业要组织生产，就必须投入一定的人力、物力和财力。

我们把组织生产所必需的一切人力、物力和财力，称为生产要素。

人力方面的生产要素表现为投入的各种劳动与智慧，包括体力劳动和脑力劳动、熟练劳动和非熟练劳动、简单劳动和复杂劳动等。

物力方面表现为投入的各种自然资源与资本品，自然资源包括原材料、土地、矿藏、海藏等，资本品包括生产者拥有的厂房、设备、知识、才能等。

财力方面表现为生产者拥有的货币资本、资金来源及筹集资金手段(如贷款与发行证券)的有效程度等。

所有这些生产要素可概括为四类：资源、资本、劳动、企业家才能。

资源是生产所必需的一切可以开发利用的自然资源，包括土地、海域、空间、矿藏、海藏、宇宙资源(如太阳能)等。

资源具有原始性与初等性，是商品转化的起点。

资本是生产者具备生产经营条件与能力的凭证，包括一切物质资本、货币资本和技术资本。

物质资本也叫做资本品，货币资本也叫做资金，资本品与资金之间可以互相转换。

技术资本也简称为技术，指生产所需的一切科学技术。