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- Explain, using the concept of the elements of model, the statement-“A model is a theoretical structure representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them.Linear stages theory, Structural-change model (Lewis two-sector model), International dependence/dominance model, Neoclassical model How do the contemporary models differ from the previous models? Coordination failures ComplementarityWhy do these models emphasize multiple equilibria and what does it mean?What problems may prevent economy from moving from a bad equilibrium to a stable one?Need to understand that graphWhat are the big push and O-ring theories (important to have a broad or general understanding ofthe two theories?)Hi, thank you for the very fast response, right now I'm studying about Krugman’s speculative attack model.Please help with the question (d): In Krugman’s speculative attack model, how can the model be modified so a jump does take place when the speculative attack occurs?
- Under OLS model, how is the decision of OLS framework reasonable?Provide my with 4 or 5 current American macroeconomic topic examples please!5 Linear stages theory, Structural-change model (Lewis two-sector model), International dependence/dominance model, Neoclassical model How do the contemporary models differ from the previous models? Coordination failures Complementarity Why do these models emphasize multiple equilibria and what does it mean? What problems may prevent economy from moving from a bad equilibrium to a stable one? Need to understand that graph What are the big push and O-ring theories (important to have a broad or general understanding of the two theories?)
- O-ring model and big push model sometimes require strong assumptions. What do you think are some of the trade-offs between a more rigorous, logically cohesive model with strong assumptions but clear inferences and a description of problems followed by a verbal discussion of possible implications? Do you think the two approaches can be used together to inform each other?What is the prediction of Ricardian Model with regard to trade in the real world? Explain,Is there any empirical evidence to support the prediction of Ricardian Model?Define the neoclassical economic theory. List and explain it's main assumptions.
- Why is it important for a good economic model tomake clear assumptions?Is there any empirical evidence to support the prediction of Ricardian Model? Explain!a) What are some of the main assumptions behind the H-O (Heckscher-Ohlin) model. b) What is/are the assumption(s) of the H-O model in regards to demand? How does (do) this (these) deviate from the Classical School assumptions? c) Examine the Stolper-Samuelson Theorem in conjunction with the H-O model and the factors of production.