On the adjustment of capacity utilisation to aggregate demand: Revisiting an old Sraffian critique to the Neo-Kaleckian model

For many years, there was an unanswered theoretical question among Post-Keynesian scholars: What's the behaviour through time of capacity utilisation after an aggregate demand shock? Under a (baseline and extended) Neo-Kaleckian framework, there should be a persistent effect on capacity utilisation to a shock like this one. On the other hand, Classical-Keynesian scholars are inclined to emphasise a continuous tendency towards normal utilisation. I tried to shed some light on this issue by adopting a Panel Structural VAR, time series SVAR and Local Projections. My findings, based on national quarterly data for 34 countries, suggest that the nature of the effects on effective capacity utilisation of shocks to the level of economic activity is merely transitory

Cycling Performance of the Iron-Chromium Redox Energy Storage System

Extended charge-discharge cycling of this electrochemical storage system at 65 C was performed on 14.5 sq cm single cells and a four cell, 867 sq cm bipolar stack. Both the anolyte and catholyte reactant fluids contained 1 molar concentrations of iron and chromium chlorides in hydrochloric acid and were separated by a low-selectivity, cation-exchange membrane. The effect of cycling on the chromium electrode and the cation-exchange membrane was determined. Bismuth and bismuth-lead catalyzed chromium electrodes and a radiation-grafted polyethylene membrane were evaluated by cycling between 5 and 85 percent state-of-charge at 80 mA/sq cm and by periodic charge-discharge polarization measurements to 140 mA/sq cm. Gradual performance losses were observed during cycling but were recoverable by completely discharging the system. Good scale-up to the 867 sq cm stack was achieved. The only difference appeared to be an unexplained resistive-type loss which resulted in a 75 percent W-hr efficiency (at 80 mA/sq cm versus 81 percent for the 14.5 sq cm cell). A new rebalance cell was developed to maintain reactant ionic balance. The cell successfully reduced ferric ions in the iron reactant stream to ferrous ions while chloride ions were oxidized to chlorine gas

Preparation and characterization of electrodes for the NASA Redox storage system

Electrodes for the Redox energy storage system based on iron and chromium chloride reactants is discussed. The physical properties of several lots of felt were determined. Procedures were developed for evaluating electrode performance in lab scale cells. Experimental procedures for evaluating electrodes by cyclic voltammetry are described which minimize the IR losses due to the high internal resistance in the felt (distributed resistance). Methods to prepare electrodes which reduced the coevolution of hydrogen at the chromium electrode and eleminate the drop in voltage on discharge occasionally seen with previous electrodes were discussed. Single cells of 0.3329 ft area with improved membranes and electrodes are operating at over 80% voltage efficiency and coulombic efficiencies of over 98% at current densities of 16 to 20 amp % ft

On the empirical content of the convergence debate: Cross-country evidence on growth and capacity utilisation

The Neo-Kaleckian model predicts that actual capacity utilisation is endogenous to demand shocks and positively correlated with growth in the short and long run. Competing macroeconomic theories predict that such correlation does not exist in the long run and demand shocks have transitory effects on capacity utilisation. Using a quarterly unbalanced panel of 21 developed and developing countries, we show that taking into account direct survey measures, capacity utilisation is stationary, positively correlated with growth in the short run and uncorrelated with growth in the long run. These results are inconsistent with the long-run behaviour of the Neo-Kaleckian model

Oil Nationalism as a Deterrent to Structural Change? The Case of Oil Contracts in Argentina (1958-1962)

Due to growing oil imports, political leaders had been forced to let private compa- nies produce the much-needed oil without which modern life is impossible. The most strident political clashes with what is known as ‘oil nationalism’, both ending in a coup d’ ́etat, happened in the period 1954/55 and 1958/63. The former had President Per ́on’s dealings with the California Argentina de Petro ́leos S.A., a subsidiary of the Standard Oil, at the center of a heated debate and, the latter, had President Frondizi’s oil contracts with foreign oil companies. The historical, political and diplomatic back- ground is developed so as to understand the complexities that led to the annulment of this unprecedented and effective policy with impressive effects on oil production and investment. For the first time, we show empirical evidence on the effectiveness of these contracts on domestic oil production

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Abstract Thirty-four patients with acute hemispheric ischemic strokes underwent both CT angiography and contrastenhanced transcranial color-coded duplexsonography (TCCD) to study the effectiveness of the combined noninvasive techniques for evaluation of the circle of Willis. In 3/34 patients, CT angiography and contrast-enhanced TCCD demonstrated middle cerebral artery (MCA) occlusion, in 5 others MCA stenosis. A severe posterior cerebral artery stenosis was missed by CT angiography. In 8 patients, contrast-enhanced TCCD failed because of poor bone windows. In these patients, CT angiography was normal. CT angiography and contrast-enhanced TCCD are complementary noninvasive diagnostic tools. Disagreements between the diagnostic findings of these methods still need further evaluation by digital subtraction angiography

Computer modeling of diabetes and Its transparency: a report on the Eighth Mount Hood Challenge

Objectives The Eighth Mount Hood Challenge (held in St. Gallen, Switzerland, in September 2016) evaluated the transparency of model input documentation from two published health economics studies and developed guidelines for improving transparency in the reporting of input data underlying model-based economic analyses in diabetes. Methods Participating modeling groups were asked to reproduce the results of two published studies using the input data described in those articles. Gaps in input data were filled with assumptions reported by the modeling groups. Goodness of fit between the results reported in the target studies and the groups’ replicated outputs was evaluated using the slope of linear regression line and the coefficient of determination (R2). After a general discussion of the results, a diabetes-specific checklist for the transparency of model input was developed. Results Seven groups participated in the transparency challenge. The reporting of key model input parameters in the two studies, including the baseline characteristics of simulated patients, treatment effect and treatment intensification threshold assumptions, treatment effect evolution, prediction of complications and costs data, was inadequately transparent (and often missing altogether). Not surprisingly, goodness of fit was better for the study that reported its input data with more transparency. To improve the transparency in diabetes modeling, the Diabetes Modeling Input Checklist listing the minimal input data required for reproducibility in most diabetes modeling applications was developed. Conclusions Transparency of diabetes model inputs is important to the reproducibility and credibility of simulation results. In the Eighth Mount Hood Challenge, the Diabetes Modeling Input Checklist was developed with the goal of improving the transparency of input data reporting and reproducibility of diabetes simulation model results