MR. BLANCHARD JERROLD.

Electronic Concepts an Introduction Jerrold

of Main Research Achievements , Jerrold E . Marsden

Symplectic Reduction Theory. Symplectic reduction theory for mechanical systems with symmetry was developed in Marsden and Weinstein [1974]. This far-reaching generalization of classical work of Jacobi, Liouville, Routh, and Poincaré led, over the years to many significant developments in both mechanics and mathematics. Guillemin and Sternberg describe some of these in their 1984 book Symplecti...

The Blanchard (1985) Model of Perpetual Youth

This handout analyzes a way to relax the standard assumption of infinite lifetimes in the Ramsey/Cass-Koopmans growth model. The trick, introduced by Blanchard (1985), is to assume that the economy is populated by agents who face a constant probability of death. Thus, an agent who has lived a thousand years is no more likely to die in the next year than an agent who was born yesterday. Time is ...

The Shrinking Middle Class ∗ Emily Blanchard

We develop a new model of trade in which educational institutions drive comparative advantage and determine the distribution of human capital within and across countries. Our framework exploits a multiplicity of sectors and the continuous support of human capital choices to demonstrate that freer trade can induce crowding out of the middle occupations towards the skill acquisition extremes in o...

Some econometric results for the Blanchard-Watson bubble model

The purpose of the present paper is to analyse a simple bubble model suggested by Blanchard and Watson. The model is de…ned by yt = st yt 1 + "t; t = 1; : : : ; n; where st is an i.i.d. binary variable with p = P (st = 1); independent of "t i.i.d. with mean zero and …nite variance. We take > 1 so the process is explosive for a period and collapses when st = 0: We apply the drift criterion for n...