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mmcky committed Aug 13, 2024
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14 changes: 7 additions & 7 deletions BCG_complete_mkts.html
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4 changes: 3 additions & 1 deletion BCG_incomplete_mkts.html
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Expand Up @@ -288,7 +288,9 @@ <h1><span class="section-number">38. </span>Equilibrium Capital Structures with
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74 changes: 37 additions & 37 deletions _notebooks/BCG_complete_mkts.ipynb
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"cells": [
{
"cell_type": "markdown",
"id": "12c27dce",
"id": "08fda670",
"metadata": {},
"source": [
"\n",
Expand All @@ -11,7 +11,7 @@
},
{
"cell_type": "markdown",
"id": "065833c3",
"id": "c55fce53",
"metadata": {},
"source": [
"# Irrelevance of Capital Structures with Complete Markets\n",
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{
"cell_type": "code",
"execution_count": null,
"id": "c6d77452",
"id": "cd15232d",
"metadata": {
"hide-output": false
},
Expand All @@ -34,7 +34,7 @@
},
{
"cell_type": "markdown",
"id": "eef0c8d6",
"id": "b9de6bea",
"metadata": {},
"source": [
"## Introduction\n",
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},
{
"cell_type": "markdown",
"id": "08584d46",
"id": "341e481a",
"metadata": {},
"source": [
"### Setup\n",
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},
{
"cell_type": "markdown",
"id": "353584b1",
"id": "8367fc37",
"metadata": {},
"source": [
"### Endowments\n",
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},
{
"cell_type": "markdown",
"id": "ffe7fa0f",
"id": "8230290d",
"metadata": {},
"source": [
"### Technology:\n",
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},
{
"cell_type": "markdown",
"id": "9b10edd4",
"id": "7b81eb20",
"metadata": {},
"source": [
"### Preferences:\n",
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},
{
"cell_type": "markdown",
"id": "3ecf63d6",
"id": "df891a2a",
"metadata": {},
"source": [
"### Parameterizations\n",
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},
{
"cell_type": "markdown",
"id": "9423e6d6",
"id": "a327a240",
"metadata": {},
"source": [
"### Pareto criterion and planning problem\n",
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},
{
"cell_type": "markdown",
"id": "971bc9bb",
"id": "1df04ebb",
"metadata": {},
"source": [
"### Helpful observations and bookkeeping\n",
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},
{
"cell_type": "markdown",
"id": "8dc2684c",
"id": "c89dbd10",
"metadata": {},
"source": [
"#### Remarks\n",
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},
{
"cell_type": "markdown",
"id": "94326d03",
"id": "2c05d7b3",
"metadata": {},
"source": [
"## Competitive equilibrium\n",
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},
{
"cell_type": "markdown",
"id": "d00278e8",
"id": "12de0121",
"metadata": {},
"source": [
"### Measures of agents and firms\n",
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},
{
"cell_type": "markdown",
"id": "6920292f",
"id": "88c2f496",
"metadata": {},
"source": [
"#### Ownership\n",
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},
{
"cell_type": "markdown",
"id": "0fa2848c",
"id": "fff22a9a",
"metadata": {},
"source": [
"#### Asset markets\n",
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},
{
"cell_type": "markdown",
"id": "72ddf4ba",
"id": "086550f0",
"metadata": {},
"source": [
"### Objects appearing in a competitive equilibrium\n",
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},
{
"cell_type": "markdown",
"id": "ad793d26",
"id": "99e443d4",
"metadata": {},
"source": [
"### A representative firm’s problem\n",
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},
{
"cell_type": "markdown",
"id": "a7c27ccc",
"id": "f6fb4885",
"metadata": {},
"source": [
"### A consumer’s problem\n",
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},
{
"cell_type": "markdown",
"id": "8d81f8a8",
"id": "ce10fe14",
"metadata": {},
"source": [
"### Computing competitive equilibrium prices and quantities\n",
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},
{
"cell_type": "markdown",
"id": "0912bd67",
"id": "d391569a",
"metadata": {},
"source": [
"### Modigliani-Miller theorem\n",
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},
{
"cell_type": "markdown",
"id": "36f29683",
"id": "eed6cba7",
"metadata": {},
"source": [
"## Code\n",
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{
"cell_type": "code",
"execution_count": null,
"id": "0331fe28",
"id": "4065aa47",
"metadata": {
"hide-output": false
},
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{
"cell_type": "code",
"execution_count": null,
"id": "69f6906f",
"id": "153b4c9d",
"metadata": {
"hide-output": false
},
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},
{
"cell_type": "markdown",
"id": "e503a774",
"id": "171080f5",
"metadata": {},
"source": [
"### Examples\n",
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},
{
"cell_type": "markdown",
"id": "99bb06f6",
"id": "3da0ee68",
"metadata": {},
"source": [
"#### 1st example\n",
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{
"cell_type": "code",
"execution_count": null,
"id": "d7548180",
"id": "a6fa7186",
"metadata": {
"hide-output": false
},
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},
{
"cell_type": "markdown",
"id": "87439a98",
"id": "55cc9488",
"metadata": {},
"source": [
"Let’s plot the agents’ time-1 endowments with respect to shocks to see\n",
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{
"cell_type": "code",
"execution_count": null,
"id": "b1c3cfcc",
"id": "65f0422a",
"metadata": {
"hide-output": false
},
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},
{
"cell_type": "markdown",
"id": "50424823",
"id": "4a886d2b",
"metadata": {},
"source": [
"Let’s also compare the optimal capital stock, $ k $, and optimal\n",
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{
"cell_type": "code",
"execution_count": null,
"id": "95a8df8d",
"id": "f210b4f6",
"metadata": {
"hide-output": false
},
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},
{
"cell_type": "markdown",
"id": "ab0f3605",
"id": "a35368e8",
"metadata": {},
"source": [
"#### 2nd example\n",
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{
"cell_type": "code",
"execution_count": null,
"id": "4a1b600d",
"id": "e8805e2c",
"metadata": {
"hide-output": false
},
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{
"cell_type": "code",
"execution_count": null,
"id": "aa7cab49",
"id": "156f1425",
"metadata": {
"hide-output": false
},
Expand All @@ -1371,7 +1371,7 @@
{
"cell_type": "code",
"execution_count": null,
"id": "bbcadb48",
"id": "f6fe4b27",
"metadata": {
"hide-output": false
},
Expand All @@ -1385,7 +1385,7 @@
{
"cell_type": "code",
"execution_count": null,
"id": "a6c2c160",
"id": "e74c9af9",
"metadata": {
"hide-output": false
},
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}
],
"metadata": {
"date": 1723011579.9793224,
"date": 1723517845.990379,
"filename": "BCG_complete_mkts.md",
"kernelspec": {
"display_name": "Python",
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