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Model of economics - Vіtlіnsky V.V.

16.7. Style rozv'yazok rivnyannya Borgu

If senyorazh є greater for real current deficiency:

then the oath of oversight of borg goiter'yazan will be lower for the amount of servicing the flow borg. For that reason, deny the rozv'yazok rivnyannya (16.9) for the positive value of the norms of the real cost of living r > 0 can be less than you think, you should take the liabilities to rejuvenate and reduce the real budget deficit. In the whole range of incidents, the oaths of borg goiters'yazan can be regulated and secreted through the conduct of singing monetary policy. For example, oaths of seigniorage can be established on such a level, so as to prevent a budget deficit and a new one. Behind the stream of the Maybut “pure” canopy SN = SN ( t ) and the next day, remember how much differentiated rivnyannya

, (16.11)

yak can be written in the equivalent integrated form


it is easy to translate the differentials, here the link (16.12) is parametric to lay down the function SN ( t ). Rozv'yazok (16.12) a small economical zm_st. Since the integral integral of the right part coincides, then the whole winnings are discounted for the profit r > 0 until the flowing moment t I will stream the Maybut stream to the top of the page. Tobto b ( t , S ) is the Tserinkov’s vartity of the sovereign Borg, yak є of a reduced size, independent of the independence of the parameter value ( r > 0). From now on, vikoristannya in exemplary deductions and in accepting ekonomichno oboruntovanyh rishen for the prospect of a rnarkovo vartosti to the borg і the whole vernacular is right to be in good condition, I can have a good time. To cope with the viraz (16.12), we are supernaturally grunting in the economical rosaries and models.

For home (fixed) functions, I’m able to see my mother’s eyes b ( t , S ) = b ( t ), and the style’s rozv'yazok (16.11) is possible to make up, concealment, using the Sargent-Wallace method . The same rozv'yazku stockpiled with dvokh etapіv. Adherence to the method of variational constant, which was guessed by the pyrosis. 16.4, the ignorant ignorance of the heterogeneous region is known (16.11):

de A - constant constant integrating, as if to get so that the mind would come to mind

Vikonannya of the price ум ов ов заб ез еч б б б б нев нев нев нев Yak є Stykim rozv'yazkom for rivniannya (16.11).

Treba nakoloshiti, scho rivniannya (16.11) вла, hair, mental arbitrage, scho was examined at pidrozd. 16.3. I will take a look at the private investor in the form of rinkovka vimogi schodo dostavnosti sovereign borg. I'll take a look at the umova

I’m in need of servicing the flow borg ( rb ). , so і pre-pediatric borgіv retail ( b ) on the market. The closure of the norms of profitability by the market, by combining politics with me, the privilege of the new regions, and from now on, the might of the state for the protection of the newly-born borges. It’s natural for the whole person to fall in love, you can take the squad to the Borg for 0 <a < r , because the coupon is more valuable:

Vipadok of zero coupon income is needed in the world of inadmissibility igor Ponci (financial pyramid), and at the same time yak vipadok r = d vidpovida statsionarny points for (16.11).

Zrozumіlo, right now, the squad is a monopoly property of trade goiters; I’m short of my position on the regional market, I can take care of it, moreover, they have ceased private investors and take up the position. I will take a look at private investors - the owner of real penny balances and real bargains of the state - without a risk, the rate of dictations of the highest prices of investors, and the higher level of income. For the given r і d value, the financial balance is irrelevant, and the number of new poses is reserved for the new capital assets a, de r = d + a.

Wikladen is the main signification, secrecy, and the mayboth potent grower with a constant pace of seigniorage, in fact, discounting the rate of coupon bills. Don’t hang out at the door (16.12) coupon bills to grow at a constant pace

Todi for t? t that skin t

zvidki y otrimuєmo justice іpіvvіdnoshennya , secrecy, the possibility of giving the Borg the same size, proportionate seigniorage.

Let’s think one more thing, which allows me to simplify the model, without destroying the economy of ignorance. Bringing your eyes to the eyes of the world, to implement the latest budget policies in the same way as the current flow rate, the first rate, the cost of the other, and the cost of the cost of the other

Respect the discounted flow rate of the Maybutnich expenses and low-cost gratuities to one and the same, let’s deactivate the flow of the borg - here is the flow rate for the flow of the Mayboot canopy:


Umova (16.13), in order to allow one to discern the fallow between the men and women and the Borg, widely to become more knowledgeable in science for an adequate, stochastic statement, formulate the problem.

Zrozumіlo, the value (16.13) is parametric to lie down in the direction of the seniorazhu flow, also at the zagalny vipadok the maximum


For (16.14) the stationary mill, the word b ( t , S ) = b ( S ) and the road

For your understanding, what can I do with a constant rate of a> 0, some obligations with a coupon income of d> 0 and a non-recessionary rate of profitable regional income r > 0?


rinkova the power of the sovereign borg in the stationary camp is a magnitude


yaka vіdіgraє an important role in stochastic models of the dynamics of seigniorage.