cu3da c MODEL: stochastic growth model with government capital c and varying hours and employment; the planner c chooses c1[t],c0[t],i[t],n[t],h[t] to maximize c c E[ sum beta^t {n[t]*u(c1[t],1-h[t])+(1-n[t]) c t *u(c0[t],1)}*(1-a[t]) | x[0]] c c subject to c c c[t]+i[t] = z[t]*f(k[t],kg[t],n[t],h[t])-ig[t]-cg[t] c c[t] = n[t]*c1[t]+(1-n[t])*c0[t] c k[t+1] = (1-delta)*k[t]+i[t] c kg[t+1] = (1-delta)*kg[t]+ig[t] c z[t+1] = z[t]^psi*eps[t] c x[t] = (k[t],kg[t],z[t]) c cumc3da c MODEL: stochastic growth model with government capital, c varying hours and employment, and moving costs; c the planner chooses c1[t],c0[t],i[t],n[t],h[t] c to maximize c c E[ sum beta^t {n[t]*U(c1[t],1-h[t])+(1-n[t]) c t *U(c0[t],1)-P(n[t])}*(1-a[t])|x[0]] c c subject to c c c[t]+i[t]+m[t] = z[t]*F(k[t]+kg[t],n[t],h[t])-ig[t]-cg[t] c c[t] = n[t]*c1[t]+(1-n[t])*c0[t] c m[t] = M(n[t],n[t-1]) c k[t+1] = (1-delta)*k[t]+i[t] c kg[t+1] = (1-delta)*kg[t]+ig[t] c z[t+1] = z[t]^psi*eps[t] c x[t] = (k[t],n[t-1],z[t]) c cumc3dai c MODEL: stochastic growth model with government capital, c varying hours and employment, and moving costs; c the planner chooses c1[t],c0[t],i[t],n[t],h[t] c to maximize c c E[ sum beta^t {n[t]*U(c1[t],1-h[t])+(1-n[t]) c t *U(c0[t],1)-P(n[t])}*(1-a[t])|x[0]] c c subject to c c c[t]+i[t]+m[t] = z[t]*F(k[t]+kg[t],n[t],h[t])-ig[t]-cg[t] c c[t] = n[t]*c1[t]+(1-n[t])*c0[t] c m[t] = M(n[t],n[t-1]) c k[t+1] = (1-delta)*k[t]+i[t] c kg[t+1] = (1-delta)*kg[t]+ig[t] c z[t+1] = z[t]^psi*eps[t] c x[t] = (k[t],n[t-1],z[t]) c cumc3db c MODEL: stochastic growth model with government capital, c varying hours and employment, and moving costs; c the planner chooses c1[t],c0[t],i[t],n[t],h[t] c to maximize c c E[ sum beta^t {n[t]*U(c1[t],1-h[t])+(1-n[t]) c t *U(c0[t],1)-P(n[t])}*(1-a[t])|x[0]] c c subject to c c c[t]+i[t]+m[t] = z[t]*F(k[t]+kg[t],n[t],h[t])-ig[t]-cg[t] c c[t] = n[t]*c1[t]+(1-n[t])*c0[t] c m[t] = M(n[t],n[t-1]) c k[t+1] = (1-delta)*k[t]+i[t] c kg[t+1] = (1-delta)*kg[t]+ig[t] c z[t+1] = z[t]^psi*eps[t] c x[t] = (k[t],n[t-1],z[t]) c cumc3dbi c MODEL: stochastic growth model with government capital, c varying hours and employment, and moving costs; c the planner chooses c1[t],c0[t],i[t],n[t],h[t] c to maximize c c E[ sum beta^t {n[t]*U(c1[t],1-h[t])+(1-n[t]) c t *U(c0[t],1)}*(1-a[t])|x[0]] c c subject to c c c[t]+i[t]+m[t]+p[t] = z[t]*F(k[t]+kg[t],n[t],h[t]) c -ig[t]-cg[t] c c[t] = n[t]*c1[t]+(1-n[t])*c0[t] c m[t] = M(n[t],n[t-1]) c p[t] = P(n[t]) c k[t+1] = (1-delta)*k[t]+i[t] c kg[t+1] = (1-delta)*kg[t]+ig[t] c z[t+1] = z[t]^psi*eps[t] c x[t] = (k[t],n[t-1],z[t]) c war3da c MODEL: stochastic growth model with government capital; c the government chooses c[t],i[t],h[t] to maximize c c E[ sum beta^t u(c[t],l[t]) | k[0],kg[0],z[0]] c t c subject to c c c[t]+i[t] = z[t]*f(k[t],kg[t],h[t])-ig[t]-bg[t] c k[t+1] = (1-delta)*k[t]+i[t] c kg[t+1] = (1-delta)*kg[t]+ig[t] c z[t+1] = z[t]^psi*eps[t]