Money and Endogenous Growth in a Cash-in-Advance Model with Social Status

Motivated by the substantial increase of nominal money supply in the U.S. economy since late 2008, this paper examines the equilibrium growth effect of money/inflation within a standard one-sector AK model of endogenous growth with wealth-enhanced preferences for social status and the most generalized cash-in-advance constraint. We show that the sign for the correlation between money and output growth depends crucially on (i) the liquidity-constrained ratio of consumption to investment, and (ii) how the shadow price of physical capital responds to a change in the monetary growth rate. This money-growth correlation, as well as the growth effect of social status, turns out to be closely related to the local stability properties of the economy's balanced growth path(s).Money, Endogenous Growth, Cash-in-Advance Constraint, Social Status, In- determinacy

From Isovist to Spatial Perception: Wayfinding in Historic Quarter

Based on the assumption that human behaviours are mainly affected by physical and animate environments, this empirical research takes the changeful and complex historical district in Tainan to observe wayfinding behaviours. An a priori analysis of the isovist fields is conducted to identify spatial characteristics. Three measures, the relative area, convexity, and circularity, are applied to scrutinize the possible stopping points, change of speed, and route choices. Accordingly, an experiment is carried out to observe spatial behaviours and different influences of social stimuli. Results show that social interactions afford groups and pairs to perform better than individual observers in wayfinding.© 2016. The Authors. Published for AMER ABRA by e-International Publishing House, Ltd., UK. This is an open access article under the CC BY-NC-ND license (http://creative commons.org/licenses/by-nc-nd/4.0/).Peer–review under responsibility of AMER (Association of Malaysian Environment-Behaviour Researchers), ABRA (Association of Behavioural Researchers on Asians) and cE-Bs (Centre for Environment-Behaviour Studies), Faculty of Architecture, Planning & Surveying, Universiti Teknologi MARA, Malaysia.Keywords: wayfinding; isovist; spatial perception and social stimuli; historic quarte

Knowledge Creation and Firm Performance: Mediating Processes from an Organizational Agility Perspective

Knowledge creation has emerged as a critical area in information systems research in the past decade (Nonaka 1994). However, the mechanism through which knowledge creation enhances firm performance remains unclear. This paper examines the role of organization agility as a mediator between knowledge creation processes and firm performance. Our survey study of 134 firms indicates that two forms of organizational agility – customer agility and operational agility, significantly and fully mediate the effect of knowledge creation on firm performance. Our findings extend prior research by providing insights into the role of organizational agility in facilitating the effect of knowledge creation processes on firm performance. Implications for researchers and managers are discussed

A Comparative Study on Spin-Orbit Torque Efficiencies from W/ferromagnetic and W/ferrimagnetic Heterostructures

It has been shown that W in its resistive form possesses the largest spin-Hall ratio among all heavy transition metals, which makes it a good candidate for generating efficient dampinglike spin-orbit torque (DL-SOT) acting upon adjacent ferromagnetic or ferrimagnetic (FM) layer. Here we provide a systematic study on the spin transport properties of W/FM magnetic heterostructures with the FM layer being ferromagnetic Co$_{20}$Fe$_{60}$B$_{20}$ or ferrimagnetic Co$_{63}$Tb$_{37}$ with perpendicular magnetic anisotropy. The DL-SOT efficiency $|\xi_{DL}|$, which is characterized by a current-induced hysteresis loop shift method, is found to be correlated to the microstructure of W buffer layer in both W/Co$_{20}$Fe$_{60}$B$_{20}$ and W/Co$_{63}$Tb$_{37}$ systems. Maximum values of $|\xi_{DL}|\approx 0.144$ and $|\xi_{DL}|\approx 0.116$ are achieved when the W layer is partially amorphous in the W/Co$_{20}$Fe$_{60}$B$_{20}$ and W/Co$_{63}$Tb$_{37}$ heterostructures, respectively. Our results suggest that the spin Hall effect from resistive phase of W can be utilized to effectively control both ferromagnetic and ferrimagnetic layers through a DL-SOT mechanism

Photocatalytic Oxidation of Gaseous Isopropanol Using Visible-Light Active Silver Vanadates/SBA-15 Composite

An environmentally friendly visible-light-driven photocatalyst, silver vanadates/SBA-15, was prepared through an incipient wetness impregnation procedure with silver vanadates (SVO) synthesized under a hydrothermal condition without a high-temperature calcination. The addition of mesoporous SBA-15 improves the formation of nanocrystalline silver vanadates. In situ diffuse reflectance infrared Fourier transform spectroscopy (DRIFTS) confirms the presence of Brønsted and Lewis acids on the SVO/SBA-15 composites. The results of photoluminescence spectra indicated that the electron-hole recombination rate have been effectively inhibited when SVO was loaded with mesoporous SBA-15. All the composites loaded with various amount of SVO inherit the higher adsorption capacity and larger mineralization yield than those of P-25 (commercial TiO2) and pure SVO. The sample loaded with 51% of SVO (51SVO/SBA-15) with mixed phases of Ag4V2O7 and α-Ag3VO4 exhibits the best photocatalytic activity. A favorable crystalline phase combined with high intensities of Brønsted and Lewis acids is considered the main cause of the enhanced adsorption capacity and outstanding photoactivity of the SVO/SBA-15 composites