# トップPDF 2017A2IOsol01 Recent site activity Naoki Wakamori's Website

### 2017A2IOsol01 Recent site activity Naoki Wakamori's Website

• なので，できるだけ解説の方法に沿って解答してください Reduced Strategic FormについてはOsborn＆Rubinstein A Course in Game Theory のp94前後を確認してください E \ I H L Out 3,6 3,6 (In,H) 5,5 1,6 (In,L) 6,1 2,2 解答：NEは(Out,L)

15 さらに読み込む

### Recent site activity Naoki Wakamori's Website

F Goodness of Fit In this appendix we provide further details on the goodness of fit. Table 4 in the text showed that the predicted and observed discount distributions are also very similar, but the model tends to under-predict the median discount (86.7 vs 95 bps), as well as the fraction of borrowers paying the posted rate (i.e. 9.2% vs 12.7%). Figure 2 shows that the shortcomings can largely be explained by the fact that the predicted distribution of discounts is smoother than the empirical distribution. For instance, when we group discounts into 25 bps bins, the model accurately predicts the fraction of consumers receiving zero or very small discounts, suggesting that few consumers in the observed sample receive discounts between 0 and 12 bps. Similarly, the empirical distribution of discounts exhibits a large mass around 100 bps, and as a result the density is sharply decreasing between 0 and 50. This is consistent with some lenders using 100 bps as a focal point discount. The model does not have any such prediction. Instead, the model predicts a smoother decrease in the density between 0 and 50, and a less pronounced peak at 100 pbs.
さらに見せる

71 さらに読み込む

### Recent site activity Naoki Wakamori's Website

れているような市場で，企業 1 （既存企業）と企業 2 （参入企業）が 価格競争を行っていると考える．企業 1 は 1 段階目で費用削減投資 k( ただし k > 0) を行うことができ， 2 段階目の競争での費用関数を C 1 (q, k) = (c − λk)q とすることができるが（ただし λ > 0 ），投資

40 さらに読み込む

### GIO2017topic Recent site activity Naoki Wakamori's Website

deepening your understanding in structural estimation, with a special emphasis on financial institutions. To achieve the goal, this course consists with the following three components: (i) lectures on methodology (for two classes), (2) student presentations from the reading lists (roughly five classes), and (3) student presentations of their own research proposal.

16 さらに読み込む

### Recent site activity Naoki Wakamori's Website

Beyond being consistent with recent stock market evidence on merger synergies, several advantages of the revealed preference method are important to emphasize. First, because it does not rely on stock market data, our revealed preference method can be applied to mergers between two private entities when mergers and characteristics data for private-to- private mergers are available, expanding the potential scope of analysis and inference. In a similar vein, other authors have expressed interest in relaxing the dependence of merger value creation measures on stock market data. Maksimovic and Phillips ( 2001 ) suggest an alternative method for evaluating the value of mergers that does not rely on stock market information, by using productivity measures. More recently, Devos et al. ( 2009 ) produced estimates of merger synergies from Value Line forecasts, which depend more directly on fundamental value creation. Our method shares the advantage of these methods without requiring a reliable measurement of productivity or coverage by Value Line. Second, our structural model accounts for endogenous merger selection directly, which enhances confidence that the characteristics that drive merger values actually drive merger values, rather than a by-product of the merger selection process. Finally, our structural method allows for counterfactual exercises that are robust to changes in the policy environment. This feature of our structural exercise enables a more accurate forecast of merger activity than alternative methods to predict mergers.
さらに見せる

19 さらに読み込む

### Recent site activity Naoki Wakamori's Website

Effectively, then, controlling the amount of cash settlement balances was a means for the Bank of Canada to inject liquidity into this market as needed. Liquidity and cash settlement balances are therefore used interchangeably throughout the text. In November 1999, this limit was around \$200 million, which was distributed among the 15 LVTS participants at that time via a series of auctions that were also used for investing the Government of Canada’s cash holdings. In 2001, the Bank of Canada lowered the amount of liquidity to \$50 million, and the system remained stable until the end of 2005. Starting in March 2006, faced with strong downward pressure on the overnight rate, the Bank of Canada implemented a low liquidity policy by reducing the required balance back to zero, thereby not allowing participants to an aggregate long position at the end of the day. This regime continued until mid-February 2007 when, on the eve of the financial crisis, the Bank of Canada joined other central banks in injecting liquidity into the banking system. Cash settlement balances were increased to \$500 million. Figure 3 presents the cash settlement balances in LVTS at the end of each day between April 2004 and April 2009.
さらに見せる

26 さらに読み込む

### micro01 Recent site activity Junji Kageyama's Homepage

Backhouse & Medema (2009): “Economics is not deﬁned by a subject matter, but by its approach” • 経済学とは、対象ではなく、その方法で定義される • その方法が「人の合理性に基づいた資源配分に関する学問」 • 人間 (生物) 行動のあらゆる側面が経済学の分析対象となる 現在の経済学における一つの課題: 合理性の仮定は現実的か？

### 20171027lec1 Syllabus Recent site activity Vu, Tuan Khai's personal website

In each period, the first part will be lecture given by the instructor, and the rest of the time will be used for practicing with the computer. The student will sometimes be asked to answer questions raised by the instructor, to discuss a topic, or to give a presentation. 5. Method of Assessment

### answersheet form Recent site activity Vu, Tuan Khai's personal website answersheet form

Name: Class: Principles of Macroeconomic 2011.. Sheet No:[r]

### Chapter 2 Recent site activity Namba's HP

Recognition of Facial Expressions Past, Present and Future Challenges.. 波修.[r]

48 さらに読み込む

### topic10 review ans Recent site activity Vu, Tuan Khai's personal website topic10 review ans

b. Private saving = (Y-T)-C. Because Y is fixed and not affected by the change in taxes, Δ(Y-T) = -ΔT=-\$100 billion (a decrease)  Consumption falls by MPC∗Δ(Y-T) = 0.6 ∗\$100 billion=\$60 billion, and saving falls by (1-MPC) ∗Δ(Y-T)=0.4∗\$100 billion=\$40 billion. c. National saving = Public saving + Private saving  The change in national saving = the sum of the changes in public and private saving = \$100 billion - \$40 billion = \$ 60 billion (an increase). d. Investment equals saving in equilibrium, so investment must rise by \$60 billion.

### homework2(2010s) Recent site activity masaruinaba

1.8 Suppose that the production function is Cobb=Douglas type, Y = AK α L 1−α , where 0 < α < 1. Proof the statements as follow. (2 points each) 1.8.1 The Cobb=Douglas production function satisfies the constant return to scale (規模に関して収穫 一定 ).

### topic3 print Recent site activity Vu, Tuan Khai's personal website

The real rental rate adjusts to equate demand for capital with supply. Units of output[r]

66 さらに読み込む

### 様式2docx Recent site activity I's English Materials

Many people say that if capital punishment is abolished, there will be more crime. That may be true, but my opinion is different. I think we should abolish capital punishment for two reasons. Firstly, capital punishment is a murder. No human should be allowed to kill another.

### topic1 print Recent site activity Vu, Tuan Khai's personal website

• shows that the quantity of bread consumers demand is related to the price of bread and aggregate income... 19 The market for bread: Demand.[r]

33 さらに読み込む

### topic8a Recent site activity Vu, Tuan Khai's personal website

 comes from liquidity preference theory when money demand depends positively on income  shows all combinations of r and Y that equate. demand for real money balances with supply.[r]

52 さらに読み込む

### topic6a Recent site activity Vu, Tuan Khai's personal website

 Thus, the Solow model predicts that countries with higher population growth rates will have. lower levels of capital and income per worker in the long run.[r]

60 さらに読み込む