1. Financial frictions are often described in terms of an “interest-rate spread” between a standard government debt (like the 3-month or 10-year treasury bonds) and private debt (like commercial paper, corporate bonds, etc). When would this “interest-rate spread” be high or low? Why?
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Watch the Kobo 360 video, a recorded presentation by someone who started a company. Watch the video and pay close attention to the reason behind the business idea and how it evolved. There is no formal roadmap to becoming an entrepreneur and every journey is unique, but models and methods help us learn and prepare for entrepreneurship. Demonstrate you can analyze how an entrepreneur uses models and common methods in their own situation.
1. How does the evolution of the debt-to-GDP ratio Bt/Yt depend on g (the growth rate) and i (the interest rate)?
2. Consider the steady-state debt-to-GDP ratio bss = B Y = (G − T)/Y g − i
(a) Derive this relationship mathematically. What does this relationship describe?
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Read the statement by Jerome Powell, Chair of the Board of Governors of the Federal Reserve System before the Joint Economic Committee . Mr. Powell says that “Putting the federal budget on a sustainable path would aid the long-term vigor of the U.S. economy”.
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1. On December 22, 2017, the Tax Cuts and Jobs Act (the “TCJ Act”) was passed, cutting the tax rates for corporations very significantly from 35% to 21%.
(a) Using the IS-MP framework, describe what happens to investment and short-run output when there is a large cut in corporate taxes.
(a) The FRED database contains data for Real Gross Private Domestic Investment showing the change in investment year-on-year. Use the FRED database and download the time series. Use quarterly frequency.
(b) In general, has the investment become more or less volatile since 1950?
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1. Inflation is usually understood to mean positive inflation – i.e., an increase in the general price level over time. Given this, what do you think “deflation” means?
2. Using the Fisher equation, describe why deflation can be dangerous. In the context of a recession, explain how a potential “deflationary spiral” would work.
3. If you were the Fed Chairman, how would you respond to deflation?
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Create a Post Modern short story in which the characters and actions challenge modern notions of “truth.” The story needs to be written from a man’s perspective or gender neutral.
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Imagine that you are heading up the DARD program’s strategic plan initiatives and that the strategic objectives and key actions remain constant. How would you better define each of the strategic objectives and key actions in order to make the selection and definition of appropriate performance measures easier? Explain how each of your definitions relate to the existing, ambiguous description.
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The Department of Agriculture and Rural Development (DARD) of Northern Ireland case study provides an opportunity for you to be creative and to imagine that you are developing appropriate evaluation devices and performance measures. As a public manager, you may be asked to develop these criteria as part of the strategic change process.
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Pick a disorder or health condition that interests you (e.g. heart disease, diabetes, depression, obesity, etc.). Do some research into the condition and find a health intervention (i.e. some sort of attempt at changing behavior in a way that promotes good health) that has evidence to support it being used to prevent the occurrence of the disorder. Then, devise a health promotion effort that is based on one of the theories that could be used to convince a group of people to participate in the new healthy behavior.
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