相信许多留学生对数学代考都不陌生，国外许多大学都引进了网课的学习模式。网课学业有利有弊，学生不需要到固定的教室学习，只需要登录相应的网站研讨线上课程即可。但也正是其便利性，线上课程的数量往往比正常课程多得多。留学生课业深重，时刻名贵，既要学习知识，又要结束多种类型的课堂作业，physics作业代写，物理代写，论文写作等；网课考试很大程度增加了他们的负担。所以，您要是有这方面的困扰，不要犹疑，订购myassignments-help代考渠道的数学代考服务，价格合理，给你前所未有的学习体会。
我们的数学代考服务适用于那些对课程结束没有掌握，或许没有满足的时刻结束网课的同学。高度匹配专业科目，按需结束您的网课考试、数学代写需求。担保买卖支持，100%退款保证，免费赠送Turnitin检测报告。myassignments-help的Math作业代写服务，是你留学路上忠实可靠的小帮手！
经济代写|宏观经济学代写Macroeconomics代考|The costs of inflation
The Sidrauski model shows that inflation does not affect the equilibrium. But somehow we do not believe this result to be correct. On the contrary, we believe inflation is harmful to the economy. In their celebrated paper, Bruno and Easterly (1996) found that, beyond a certain threshold inflation was negatively correlated with growth, a view that is well established among practicioners of monetary policy. This result is confirmed by the literature on growth regressions. Inflation always has a negative and significant effect on growth. In these regressions it may very well be that inflation is capturing a more fundamental weakness as to how the political system works, which may suggest that for these countries it is not as simple as “choosing a better rate of inflation”.
However, to make the point on the costs of inflation more strongly, we notice that even disinflation programs are expansionary. This means that the positive effects of lowering inflation are strong, so much so that they even undo whatever potential costs a disinflation may have. Figures 19.6 and 19.7 show all recent disinflation programs for countries that had reached an inflation rate equal to or higher than $20 \%$ in recent years. The figure is split in two panels, those countries that implemented disinflation with a floating regime and those that used some kind of nominal anchor (typically the exchange rate), and shows the evolution of inflation (monthly) in 19.6 and GDP (quarterly) in 19.7 since the last time they reached $20 \%$ anual inflation. The evidence is conclusive: disinflations are associated with higher growth.
So what are these costs of inflation that did not show up in the Sidrausky model? There has been a large literature on the costs of inflation. Initially, these costs were associated with what were dubbed shoe-leather costs: the cost of going to the bank to get cash (the idea is that the higher the inflation, the lower your demand for cash, and the more times you needed to go to the bank to get your cash). This was never a thrilling story (to say the least), but today, with electronic money and credit cards, simply no longer makes any sense. On a more benign note we can grant it tries to capture all the increased transaction costs associated with running out (or low) of cash.
Other stories are equally disappointing. Menu costs (the idea that there are real costs of changing prices) is as uneventful as the shoe-leather story. We know inflation distorts tax structures and redistributes incomes across people (typically against the poorest in the population), but while these are undesirable consequences they on their own do not build a good explanation for the negative impact of inflation on growth.
经济代写|宏观经济学代写Macroeconomics代考|The Tommasi model: Inflation and competition
So the problem with inflation has to be significant and deep. An elephant in the room that seems difficult to see. Tommasi (1994) provides what we believe is a more plausible story based on the role of inflation in messing up the price system. Tommasi focuses on a well-known fact: increases in inflation increase the volatility in relative prices (this occurs naturally in any model where prices adjust at different times or speed). Tommasi argues that relative prices changes, not only generate economic inefficiencies but also change the relative power of sellers and purchasers pushing the economy away from its competitive equilibrium. To see this, let’s draw from our analysis of search discussed in Chapter 16.
Imagine a consumer that is searching for a low price. Going to a store implies finding a price, the value of which can be described by
$$
r W(p)=(\bar{x}-p)+\rho[U-W(p)] .
$$
Having a price implies obtaining a utility $\bar{x}-p$. If relative prices were stable, the consumer could go back to this store and repurchase, but if relative prices change, then this price is lost. This occurs with probability $\rho$. If this event occurs, the consumer is left with no offer (value $U$ ). The $\rho$ parameter will change with inflation and will be our object of interest. If the consumer has no price, he needs to search for a price with cost $C$ and value $U$ as in
$$
r U=-C+\alpha \int_0^{\infty} \max (0, W(p)-U) d F(p)
$$
Working analogously as we did in the case of job search, remember that the optimal policy will be determined by a reservation price $p_R$. As this reservation price is the one that makes the customer indifferent between accepting or not accepting the price offered, we have that $r W\left(p_R\right)=\bar{x}-p_R=r U$, which will be handy later on. Rewrite (19.57) as
$$
W(p)=\frac{\bar{x}-p+\rho U}{r+\rho}
$$
Subtracting $U$ from both sides (and using $r U=\bar{x}-p_R$ ), we have
$$
W(p)-U=\frac{\bar{x}-p+\rho U}{r+\rho}-U=\frac{\bar{x}-p-r U}{r+\rho}=\frac{p_R-p}{r+\rho} .
$$
We can now replace $r U$ and $W(p)-U$ in (19.58) to obtain
$$
\bar{x}-p_R=-C+\frac{\alpha}{r+\rho} \int_0^{p_{\Omega}}\left(p_R-p\right) d F(p)
$$
or, finally,
$$
p_R=C+\bar{x}-\frac{\alpha}{r+\rho} \underbrace{\int_0^{p_n}\left(p_R-p\right)}_{(+)} d F(p) .
$$
The intuition is simple. The consumer is willing to pay up to his valuation of the good $\bar{x}$ plus the search cost $C$ that can be saved by purchasing this unit. However, the reservation price falls if there is expectation of a better price in a new draw.
宏观经济学代考
经济代写|宏观经济学代写Macroeconomics代考|The costs of inflation
Sidrauski 模型表明通货膨胀不会影响均衡。但不知何故，我们不相信这个结果是正确的。相反，我们认为通货膨胀对经济有害。Bruno 和 Easterly（1996 年）在他们著名的论文中发现，超过某个阈值后，通胀与增长呈负相关，这一观点在货币政策实践者中得到了很好的证实。有关增长回归的文献证实了这一结果。通货膨胀总是对增长产生负面和显着的影响。在这些倒退中，通货膨胀很可能正在抓住政治体系运作方式的更根本性弱点，这可能表明对于这些国家而言，它并不像“选择更好的通货膨胀率”那么简单。
然而，为了更加强调通货膨胀的成本，我们注意到即使是反通货膨胀计划也是扩张性的。这意味着降低通货膨胀的积极影响非常大，以至于它们甚至可以抵消通货紧缩可能带来的任何潜在成本。图 19.6 和 19.7 显示了针对通货膨胀率达到或高于通货膨胀率的国家的所有近期反通货膨胀计划20%最近几年。该图分为两个面板，那些通过浮动机制实施反通货膨胀的国家和那些使用某种名义锚定（通常是汇率）的国家，并显示了 19.6 的通货膨胀（月度）和 GDP（季度）的演变19.7 自从他们上次到达20%年度通货膨胀。证据确凿：通货紧缩与更高的增长有关。
那么这些没有出现在 Sidrausky 模型中的通货膨胀成本是多少？有大量关于通货膨胀成本的文献。最初，这些成本与所谓的鞋皮成本有关：去银行取现金的成本（这个想法是通货膨胀率越高，您对现金的需求越低，您需要去银行的次数越多去银行取现金）。这从来都不是一个激动人心的故事（至少可以这么说），但今天，有了电子货币和信用卡，就再也没有任何意义了。从更温和的角度来看，我们可以承认它试图捕捉与现金用完（或低）相关的所有增加的交易成本。
其他故事同样令人失望。菜单成本（改变价格会产生实际成本的想法）就像鞋皮的故事一样平淡无奇。我们知道通货膨胀会扭曲税收结构并在人们之间重新分配收入（通常针对人口中最贫穷的人），但尽管这些都是不良后果，但它们本身并不能很好地解释通货膨胀对增长的负面影响。
经济代写|宏观经济学代写Macroeconomics代考|The Tommasi model: Inflation and competition
因此，通货膨胀的问题必须是重大而深刻的。房间里的大象似平很难看到。Tommasi (1994) 根据通货膨胀在扰乱价格体系中的作用，提供了一个我们认为更合理的故事。 Tommasi 专注于一个众所周知的事实：通货膨胀的增加会增加相对价格的波动性（这在 价格以不同时间或速度调整的任何模型中自然发生)。Tommasi 认为，相对价格的变化 不仅会导致经济效率低下，还会改变买卖双方的相对力量，从而将经济推离竞争均衡。 为了解这一点，让我们借鉴第 16 章中讨论的搜索分析。
想象一下正在寻找低价的消费者。去商店意味着找到一个价格，其价值可以描述为
$$
r W(p)=(\bar{x}-p)+\rho[U-W(p)]
$$
有价格意味看获得效用 $\bar{x}-p$. 如果相对价格稳定，消费者可以回到这家商店重新购买， 但如果相对价格发生变化，那么这个价格就会丟失。这有可能发生 $\rho$. 如果发生此事件， 消费者将得不到任何报价 (价值 $U$ ). 这 $\rho$ 参数将随着通货膨胀而变化，并将成为我们感 兴趣的对象。如果消费者没有价格，他需要寻找有成本的价格 $C$ 和价值 $U$ 如在
$$
r U=-C+\alpha \int_0^{\infty} \max (0, W(p)-U) d F(p)
$$
与我们在求职案例中所做的类似，请记住最优策略将由保留价格决定 $p_R$. 由于此保留价 格使客户对接受或不接受所提供的价格无动于衷，因此我们有 $r W\left(p_R\right)=\bar{x}-p_R=r U$ ，稍后会派上用场。将 (19.57) 重写为
$$
W(p)=\frac{\bar{x}-p+\rho U}{r+\rho}
$$
减去 $U$ 从双方 (并使用 $r U=\bar{x}-p_R$ )，我们有
$$
W(p)-U=\frac{\bar{x}-p+\rho U}{r+\rho}-U=\frac{\bar{x}-p-r U}{r+\rho}=\frac{p_R-p}{r+\rho} .
$$
我们现在可以更换 $r U$ 和 $W(p)-U$ 在 (19.58) 中得到
$$
\bar{x}-p_R=-C+\frac{\alpha}{r+\rho} \int_0^{p_{\Omega}}\left(p_R-p\right) d F(p)
$$
或者，最后，
$$
p_R=C+\bar{x}-\frac{\alpha}{r+\rho} \underbrace{\int_0^{p_n}\left(p_R-p\right)}_{(+)} d F(p) .
$$
直觉很简单。消费者愿意支付他对商品的估价 $\bar{x}$ 加上搜索成本 $C$ 可以通过购买本机来节 省。但是，如果预期在新开奖中有更好的价格，则保留价会下降。
myassignments-help数学代考价格说明
1、客户需提供物理代考的网址，相关账户，以及课程名称，Textbook等相关资料~客服会根据作业数量和持续时间给您定价~使收费透明，让您清楚的知道您的钱花在什么地方。
2、数学代写一般每篇报价约为600—1000rmb，费用根据持续时间、周作业量、成绩要求有所浮动(持续时间越长约便宜、周作业量越多约贵、成绩要求越高越贵)，报价后价格觉得合适，可以先付一周的款，我们帮你试做，满意后再继续，遇到Fail全额退款。
3、myassignments-help公司所有MATH作业代写服务支持付半款，全款，周付款，周付款一方面方便大家查阅自己的分数，一方面也方便大家资金周转，注意:每周固定周一时先预付下周的定金，不付定金不予继续做。物理代写一次性付清打9.5折。
Math作业代写、数学代写常见问题
留学生代写覆盖学科？
代写学科覆盖Math数学,经济代写，金融,计算机,生物信息，统计Statistics,Financial Engineering，Mathematical Finance，Quantitative Finance，Management Information Systems,Business Analytics,Data Science等。代写编程语言包括Python代写、Physics作业代写、物理代写、R语言代写、R代写、Matlab代写、C++代做、Java代做等。
数学作业代写会暴露客户的私密信息吗？
我们myassignments-help为了客户的信息泄露，采用的软件都是专业的防追踪的软件，保证安全隐私，绝对保密。您在我们平台订购的任何网课服务以及相关收费标准，都是公开透明，不存在任何针对性收费及差异化服务，我们随时欢迎选购的留学生朋友监督我们的服务，提出Math作业代写、数学代写修改建议。我们保障每一位客户的隐私安全。
留学生代写提供什么服务？
我们提供英语国家如美国、加拿大、英国、澳洲、新西兰、新加坡等华人留学生论文作业代写、物理代写、essay润色精修、课业辅导及网课代修代写、Quiz，Exam协助、期刊论文发表等学术服务，myassignments-help拥有的专业Math作业代写写手皆是精英学识修为精湛；实战经验丰富的学哥学姐！为你解决一切学术烦恼！
物理代考靠谱吗？
靠谱的数学代考听起来简单，但实际上不好甄别。我们能做到的靠谱，是把客户的网课当成自己的网课；把客户的作业当成自己的作业；并将这样的理念传达到全职写手和freelancer的日常培养中，坚决辞退糊弄、不守时、抄袭的写手！这就是我们要做的靠谱！
数学代考下单流程
提早与客服交流，处理你心中的顾虑。操作下单，上传你的数学代考/论文代写要求。专家结束论文，准时交给，在此过程中可与专家随时交流。后续互动批改
付款操作：我们数学代考服务正常多种支付方法，包含paypal，visa，mastercard，支付宝，union pay。下单后与专家直接互动。
售后服务：论文结束后保证完美经过turnitin查看，在线客服全天候在线为您服务。如果你觉得有需求批改的当地能够免费批改，直至您对论文满意为止。如果上交给教师后有需求批改的当地，只需求告诉您的批改要求或教师的comments，专家会据此批改。
保密服务：不需求提供真实的数学代考名字和电话号码，请提供其他牢靠的联系方法。我们有自己的工作准则，不会泄露您的个人信息。
myassignments-help擅长领域包含但不是全部:
myassignments-help服务请添加我们官网的客服或者微信/QQ，我们的服务覆盖：Assignment代写、Business商科代写、CS代考、Economics经济学代写、Essay代写、Finance金融代写、Math数学代写、report代写、R语言代考、Statistics统计学代写、物理代考、作业代写、加拿大代考、加拿大统计代写、北美代写、北美作业代写、北美统计代考、商科Essay代写、商科代考、数学代考、数学代写、数学作业代写、physics作业代写、物理代写、数据分析代写、新西兰代写、澳洲Essay代写、澳洲代写、澳洲作业代写、澳洲统计代写、澳洲金融代写、留学生课业指导、经济代写、统计代写、统计作业代写、美国Essay代写、美国代考、美国数学代写、美国统计代写、英国Essay代写、英国代考、英国作业代写、英国数学代写、英国统计代写、英国金融代写、论文代写、金融代考、金融作业代写。