human development and socialization regards nature vs. nurture

1
Assume that we can model output demand using: Y = 1 [G – (1 – s)T + C0 + I (r)] 1 – (1 – s)

where I (r) = ? – ?r Additonally assume that the Government has a balanced primary budget: ?T = ?G In the short run in the following settings compare the value of than 0? Is it smaller or larger than 1?
?Y ?G .

Is it larger

1. Suppose the economy has a central bank that ?xes the interest rate at rc 2. Suppose there is no speculative demand for money, ie Quantity Theory holds. That is M V =Y P 3. Suppose have standard money demand equation : M V [r + p e ]? = Y P

2
Suppose a country has a positive debt to nominal gdp ratio ( b > 0) that isn’t increasing overtime. This implies that the primary de?cit to nominal gdp ratio satis?es : -d =b r – gy

additionally assume r > gY . There is news that the population growth rate in the country is expected to become negative. Given this news, how does gY change? (Hint: in standard solow model what is the steady state growth rate of (non-per capita) gdp, Y?) Given this is the debt to nominal gdp ratio growing or falling after the news? If this causes the risk premia to change, what happens to r ? What does this do to the growth of the debt to nominal gdp ratio?

3
Under Full Ricardian Equivalence in the short run. Does a decrease in taxes : • increase investment? • increase private savings (Y -T – C) ? • cause Y to increase?

4
What is the condition on the primary de?cit to nominal gdp ratio in order for country to be solvent ( that is, ?b = 0) when taking seignorage into account?

5
In the short run , accounting for the marginal propensity to invest ? , is it possible that government spending in a closed economy can ?nance itself? What if ? = 0 ? Is it possible for goverment spending to pay for itself in the short run in a fully open economy?

6
Suppose that the exchange rate from e is 10euro dollar . In addition assume the nominal exchange rate in the US is 10% . If the nominal interest rate in England is 7% and the exchange rate next period will be 1:1, where would you invest? For which exchange rate next period would you be indi?erent about where to invest?

7
Compare the E?ects of Fiscal Stimulus (G ?) in ?exible and ?xed exchange rate open economies in both the short and medium run. What happens to Y, M , Nx, e, tt P 2

8
In the fully open economy what happens to Y, Nx, e, Af ;t+1 in the short run if in?ation expectations fall?

9
If a country has persistant trade de?cits ( Nx < 0) what is happening to the capital account? What e?ects could this have on interest rates?

10
Compare the e?ects of an increase in exporter sentiment, Xs in the partially open economy model with a central bank. First, assume the central bank is ?xing an interest rate r = rc . How does r,e,Y,Nx, M P change in the short run? Compare this to the results if instead of ?xing an interest rate, the central bank ?xes an exchange rate.

11
Assume consumers live for two periods. Each consumer has an income of 10 in each period. Finally assume that the real interest rate, r = 1/2. Let Consumer A be a keynesian consumer with s = 1/2. Let Consumer B, follow the pernament income hypothesis and attempts to smooth consumption so that they are as similar as possible in both periods (recall from lecture that this means ? = r, also pernament income here is simply Y2 Y1 + 1+ r ) Compare the changes to consumption in period one and two in the following scenarios: 1. Income doubles today. 2. Income doubles tomorrow. 3. Income today increase by 5 and decreases next period by 7.5 4. The interest rate falls to 1/4 , assume ? = 1/2 still. repeat 1,2,3 when Consumer B can’t borrow so that C1 = Y1 .

A classic debate regarding human development and socialization regards nature vs. nurture. Discuss this debate by summarizing each position. Next, discuss the evidence that supports each perspective. Then, decide which perspective offers the most compelling argument for how humans develop. Discuss your choice in detail and defend your decision by applying any applicable research, theories, or evidence that supports your claim.
-You are required to use at least 5 outside sources (references) to support your ideas when writing your term paper. You are not allowed to use internet sources (e.g. Wikipedia). You must use material that is scholarly in nature (this generally means material that has passed the rigor of peer review and is published in a forum accepted by the discipline). There are acceptable ways to use the internet to find scholarly research (e.g. jstor.org, Sociological Abstracts), but these search engines locate published material which is scholarly and has not simply been uploaded onto the internet without the process of peer review, professional criticism, or editing. Check with me if you are unsure what constitutes a “scholarly” article, book, or other type of reference material.

-Your term paper must have a cover page, page numbers, be correctly cited where appropriate, and have a reference page.

TOPIC
1. A classic debate regarding human development and socialization regards nature vs. nurture. Discuss this debate by summarizing each position. Next, discuss the evidence that supports each perspective. Then, decide which perspective offers the most compelling argument for how humans develop. Discuss your choice in detail and defend your decision by applying any applicable research, theories, or evidence that supports your claim.
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