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Creator: Bryant, John B. and Wallace, Neil Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 109 Stichwort: Equilibrium, Open market purchases, Samuelson's pure consuption loans model, and Deflation Fach: E51  Money Supply; Credit; Money Multipliers and E58  Central Banks and Their Policies 
Creator: Kareken, John H., Muench, Thomas J., and Wallace, Neil Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 017 Stichwort: Open market policy, Information lag, and FOMC Fach: E44  Financial Markets and the Macroeconomy and E58  Central Banks and Their Policies 

Creator: Auerbach, Kay J. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 037 Beschreibung: Note from cover: "Developed from remarks at the Chamber of Commerce sponsored seminar for the International Tariff Commission hearings on February 20, 1975 Minneapolis, Minnesota."
Stichwort: Trade Act of 1974, International trade negotiations, and United States Fach: F13  Trade Policy; International Trade Organizations 
Creator: Nelson, Clarence W. (Clarence Walford), 1924 Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 000 Beschreibung: This paper was published with no issue number.
Stichwort: 9th District, Lumber, Logging, and Black Hills Fach: Q56  Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth, Q21  Renewable Resources and Conservation: Demand and Supply; Prices, and Q23  Renewable Resources and Conservation: Forestry 
Creator: Greenwood, Jeremy, 1953 and Jovanovic, Boyan, 1951 Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 446 Abstract: A paradigm is presented where both the extent of financial intermediation and the rate of economic growth are endogenously determined. Financial intermediation promotes growth because it allows a higher rate of return to be earned on capital, and growth in turn provides the means to implement costly financial structures. Thus, financial intermediation and economic growth are inextricably linked in accord with the GoldsmithMcKinnonShaw view on economic development. The model also generates a development cycle reminiscent of the Kuznets hypothesis. In particular, in the transition from a primitive slowgrowing economy to a developed fastgrowing one, a nation passes through a stage where the distribution of wealth across the rich and poor widens.
Stichwort: Kuznets curve, Rate of return, Income gap, Income distribution, Growth rate, and Financial intermediation Fach: G00  Financial Economics: General and O11  Macroeconomic Analyses of Economic Development 
Creator: Uhlig, Harald, 1961 Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 342 Abstract: [Please note that the following Greek lettering is improperly transcribed.] If [0,1] is a measure space of agents and X a collection of pairwise uncorrelated random variables with common finite mean U and variance a , one would like to establish a law of large numbers () Xdl = U. In this paper we propose to interpret () as a Pettis integral. Using the corresponding Riemanntype version of this integral, we establish (*) and interpret it as an L2law of large numbers. Intuitively, the main idea is to integrate before drawing an W, thus avoiding wellknow measurability problems. We discuss distributional properties of i.i.d. random shocks across the population. We given examples for the economic interpretability of our definition. Finally, we establish a vectorvalued version of the law of large numbers for economies.
Stichwort: Khinchines law of large numbers, Pettis integral, L2 law of large numbers, Riemann integral, Large numbers, and Random variable Fach: C10  Econometric and Statistical Methods and Methodology: General 
Creator: Uhlig, Harald, 1961 Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 342 Abstract: [Please note that the following Greek lettering is improperly transcribed.] If [0,1] is a measure space of agents and X a collection of pairwise uncorrelated random variables with common finite mean U and variance a , one would like to establish a law of large numbers () Xdl = U. In this paper we propose to interpret () as a Pettis integral. Using the corresponding Riemanntype version of this integral, we establish (*) and interpret it as an L2law of large numbers. Intuitively, the main idea is to integrate before drawing an W, thus avoiding wellknow measurability problems. We discuss distributional properties of i.i.d. random shocks across the population. We given examples for the economic interpretability of our definition. Finally, we establish a vectorvalued version of the law of large numbers for economies.
Stichwort: Khinchines law of large numbers, Pettis integral, L2 law of large numbers, Riemann integral, Large numbers, and Random variable Fach: C10  Econometric and Statistical Methods and Methodology: General 
Creator: Aiyagari, S. Rao and Wallace, Neil Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 226 Abstract: This note presents a model whose competitive equilibrium can be consistent with the observation that current labor market conditions affect the wellbeing of new entrants more than they do that of senior workers. The model uses the notion that new entrants are not around soon enough to participate in risksharing contingent on the shocks that determine the equilibrium marginal products of firstperiod employment. This timing notion is formalized using a stochastic overlapping generations model.
Beschreibung: A version of this paper was presented at the Econometric Society Summer Meeting, Cornell University, June 1619, 1982.
Fach: J21  Labor Force and Employment, Size, and Structure and E30  Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data) 
Creator: Kehoe, Timothy Jerome, 1953, Levine, David K., and Romer, Paul Michael, 1955 Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 400 Abstract: We consider a production economy with a finite number of heterogeneous, infinitely lived consumers. We show that, if the economy is smooth enough, equilibria are locally unique for almost all endowments. We do so by converting the infinite dimensional fixed point problem stated in terms of prices and commodities into a finite dimensional Negishi problem involving individual weights in a social value function. By adding a set of artificial fixed factors to utility and production functions, we can write the equilibrium conditions equating spending and income for each consumer entirely in terms of time zero factor endowments and derivatives of the social value function.
Stichwort: Consumer, Equilibrium, and Dynamic model Fach: C62  Existence and Stability Conditions of Equilibrium