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- Creators: Economics Program in CLAS
This paper examines infrastructure spending in a model economy. Infrastructure is subdivided into two types: one that makes future production more efficient, and another that decreases the risk of devastation to the future economy. We call the first type base infrastructure, and the second type risk-reducing infrastructure. Our model assumes that a single representative individual makes all the decisions within a society and optimizes their own total utility over the present and future. We then calibrate an aggregate economic, two-period model to identify the optimal allocation of today’s output into consumption, base infrastructure, and risk-reducing infrastructure. This model finds that many governments can make substantive improvements to the happiness of their citizens by investing significantly more into risk-reducing infrastructure.
The goal of this project was to discover more intricate aspects of the wedding planning industry as well as learn more about what it takes to get started in wedding planning, then apply this knowledge to the launch of my own company. I conducted research of the wedding planning industry throughout the United States then moving to Arizona and later to the Phoenix Metropolitan Area. I discuss the importance of wedding planners, the skills they bring as well as the knowledge they must have to offer their clients. Then I go into the launch of my company Maria Catherine Events and what the research means for my company launch.