7,402 research outputs found

    The role of financing frictions in agricultural investment decisions: an analysis pre and post financial crisis

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    This paper uses a fundamental Q model of investment to consider the role played by financing frictions in agricultural investment decisions, controlling econometrically for censoring, heterogeneity and errors-in-variables. Our findings suggest that farmer's investment decisions are not driven by market fundamentals. We find some evidence that debt overhang restricts investment but investment is not dependent on liquidity or internal funds. The role of financing frictions in determining investment decisions changes in the post-financial crisis period when debt overhang becomes a significant impediment to farm investment. The evidence suggests that farmers increasingly rely on internal liquidity to drive investment. Finally, we find no evidence that farmers use on-farm capital to fund on-farm investment.Credit Constraints, Firm Level Investment, Tobin's Q, Debt, Agricultural Finance, G31, G32, F34,

    Linearity in the non-deterministic call-by-value setting

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    We consider the non-deterministic extension of the call-by-value lambda calculus, which corresponds to the additive fragment of the linear-algebraic lambda-calculus. We define a fine-grained type system, capturing the right linearity present in such formalisms. After proving the subject reduction and the strong normalisation properties, we propose a translation of this calculus into the System F with pairs, which corresponds to a non linear fragment of linear logic. The translation provides a deeper understanding of the linearity in our setting.Comment: 15 pages. To appear in WoLLIC 201

    Self-tuned quantum dot gain in photonic crystal lasers

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    We demonstrate that very few (1 to 3) quantum dots as a gain medium are sufficient to realize a photonic crystal laser based on a high-quality nanocavity. Photon correlation measurements show a transition from a thermal to a coherent light state proving that lasing action occurs at ultra-low thresholds. Observation of lasing is unexpected since the cavity mode is in general not resonant with the discrete quantum dot states and emission at those frequencies is suppressed. In this situation, the quasi-continuous quantum dot states become crucial since they provide an energy-transfer channel into the lasing mode, effectively leading to a self-tuned resonance for the gain medium.Comment: 4 pages, 4 figures, submitted to Phys. Re

    BJET Editorial for the 50th Anniversary Volume in 2019: Looking back, reaching forward

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    The Editors are thrilled to introduce the 50th Anniversary volume of the British Journal of Educational Technology (BJET). This momentous milestone has spurred us to share with the readership our pride and sense of responsibility for editing one of the top journals in the field

    BJET Editorial November 2016

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    Greetings to the BJET community from the new editorial team. We took over in July 2016 and are excited about the opportunity to lead and shape this esteemed journal. In this editorial we outline our policies and vision for the future and report on our first few months in post
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