Macro Mod 23 Homework assignment

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NEAS	NEAS posted 14 Years Ago #9437 #
Supreme Being Group: Administrators Posts: 4.5K, Visits: 1.6K	Macro Mod 23 Homework assignment (The attached PDF file has better formatting.) Chapter 16: Sticky prices and nominal wage rates Suppose demand for actuaries is high from October through March, as actuaries price policies effective on January 1 and complete financial reporting requirements. From April through September, demand for actuaries is lower. Part A: If the wage rate for actuaries is sticky and the labor market for actuaries clears, what would be the seasonal pattern for actuarial labor? Part B: Using the concept of labor hoarding, why might actuarial labor not be cyclical? Part C: How does labor hoarding affect the cyclicality of the average product of labor? Why is this important for the new Keynesian model? Attachments Macro Mod 23 HW.pdf (1.4K views, 24.00 KB) 0
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NEAS	NEAS posted 6 Years Ago #16087 #
Supreme Being Group: Administrators Posts: 4.5K, Visits: 1.6K	+x NEAS - 6/13/2010 8:35:41 AM Macro Mod 23 Homework assignment (The attached PDF file has better formatting.) Chapter 16: Sticky prices and nominal wage rates Suppose demand for actuaries is high from October through March, as actuaries price policies effective on January 1 and complete financial reporting requirements. From April through September, demand for actuaries is lower. Part A: If the wage rate for actuaries is sticky and the labor market for actuaries clears, what would be the seasonal pattern for actuarial labor? Part B: Using the concept of labor hoarding, why might actuarial labor not be cyclical? Part C: How does labor hoarding affect the cyclicality of the average product of labor? Why is this important for the new Keynesian model? 0
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