Cash-in-advance constraint with status in a neoclassical growth model

In this paper, we assume that a cash-in-advance (CIA) constraint itself depends on relative income, which implies status. This constraint means that agents with higher income are more creditworthy and can make purchases with fewer money holdings. Under this assumption, we construct a one-sector neoclassical growth model and show that there exists a unique steady state that has saddle-path stability without specifying each function. Furthermore, we examine the effects of money growth on capital accumulation. If the status elasticity of CIA constraint is large, the Tobin effect can arise. In contrast, if it is small, the anti-Tobin effect can arise

Cash-in-advance constraint with status and endogenous growth

This paper explores a one-sector AK model with a cash-in-advance (CIA) constraint that itself depends on relative income, which implies status (we call this constraint the “CIA-status constraint”). The CIA-status constraint means that agents with higher income are more creditworthy and can make purchases with fewer money holdings. Under the Clower-Lucas-type CIA-status constraint, we show that the endogenous growth rate and money growth are positively correlated. On the other hand, under the Stockman-type CIA-status constraint, we confirm that the relationship between the endogenous growth rate and money growth changes from negative to positive when the elasticity of the CIA constraint with respect to status exceeds one

Cash-in-advance constraint with status in a neoclassical growth model

In this paper, we assume that a cash-in-advance (CIA) constraint itself depends on relative income, which implies status. This constraint means that agents with higher income are more creditworthy and can make purchases with fewer money holdings. Under this assumption, we construct a one-sector neoclassical growth model and show that there exists a unique steady state that has saddle-path stability without specifying each function. Furthermore, we examine the effects of money growth on capital accumulation. If the status elasticity of CIA constraint is large, the Tobin effect can arise. In contrast, if it is small, the anti-Tobin effect can arise

Cash-in-advance constraint with status and endogenous growth

This paper explores a one-sector AK model with a cash-in-advance (CIA) constraint that itself depends on relative income, which implies status (we call this constraint the “CIA-status constraint”). The CIA-status constraint means that agents with higher income are more creditworthy and can make purchases with fewer money holdings. Under the Clower-Lucas-type CIA-status constraint, we show that the endogenous growth rate and money growth are positively correlated. On the other hand, under the Stockman-type CIA-status constraint, we confirm that the relationship between the endogenous growth rate and money growth changes from negative to positive when the elasticity of the CIA constraint with respect to status exceeds one

Potential of an Asymmetrical Agitation in Industrial Mixing

Mixing is one of the most fundamental operations in chemical engineering. Stirred tanks are widely used in the manufacture of such materials as chemicals, paints, inks, electronics materials, ceramics, foods, pharmaceuticals and cosmetics. Suitable mixing is indispensable to the purpose achievement of a process. Eccentric mixing, in which an impeller installed at eccentric position in a vessel, is one of the traditional methods of promoting mixing. An asymmetrical flow which occurs in vessel is complicated, and it promotes mixing, distribution, and mass transfer. In this study, a new mixing method which eccentric mixing using a large type impeller which attracts attention in recent years is shown. The high performance of a large impeller can be combined with the advantages of an eccentric impeller by using the impeller at an eccentric position. The power consumption and mixing time for MAXBLEND, which is a type of large impeller, were investigated. The power consumption, P, and mixing time, θM, were measured under various eccentric conditions. The relation between the power number (Np) and Reynolds number (Re) and that between the dimensionless mixing time (nθM) and Re were investigated. When eccentric mixing is used industrially, we should be concerned about the horizontal load to a agitating shaft. The large oscillating horizontal load causes serious problems, such as the falling off of the impeller or the breakage of the motor, mechanical seal or gearbox. It is, therefore, important to understand the relation between these values and the impeller rotational speed when designing the mixing equipment and determining the operating conditions. In this study, the torque and horizontal load were measured in eccentric mixing under various eccentric conditions. The averages of both, the torque and the horizontal load, and their standard deviations, corresponding to the amplitude of fluctuation, were shown.Doi: 10.12777/ijse.5.2.73-80 [How to cite this article: Nishi, K., Enya, N., Sonoda, K., Misumi, R., Kaminoyama, M. (2013). Potential of an asymmetrical agitation in industrial mixing. International Journal of Science and Engineering, 5(2),73-80. Doi: 10.12777/ijse.5.2.73-80

Combination of genetic analysis and ancient literature survey reveals the divergence of traditional Brassica rapa varieties from Kyoto, Japan

京の伝統野菜ミブナの育種の歴史を解明. 京都大学プレスリリース. 2021-06-02.Since ancient times, humans have bred several plants that we rely on today. However, little is known about the divergence of most of these plants. In the present study, we investigated the divergence of Mibuna (Brassica rapa L. subsp. nipposinica L. H. Bailey), a traditional leafy vegetable in Kyoto (Japan), by combining genetic analysis and a survey of ancient literature. Mibuna is considered to have been bred 200 years ago from Mizuna, another traditional leafy vegetable in Kyoto. Mibuna has simple spatulate leaves, whereas Mizuna has characteristic serrated leaves. The quantitative trait loci (QTL) and gene expression analyses suggested that the downregulation of BrTCP15 expression contributed to the change in the leaf shape from serrated to simple spatulate. Interestingly, the SNP analysis indicated that the genomic region containing the BrTCP15 locus was transferred to Mibuna by introgression. Furthermore, we conducted a survey of ancient literature to reveal the divergence of Mibuna and found that hybridization between Mizuna and a simple-leaved turnip might have occurred in the past. Indeed, the genomic analysis of multiple turnip cultivars showed that one of the cultivars, Murasakihime, has almost the same sequence in the BrTCP15 region as Mibuna. These results suggest that the hybridization between Mizuna and turnip has resulted in the establishment of Mibuna

Visualization of Horizontal Settling Slurry Flow Using Electrical Resistance Tomography

Settling slurry flow is very common and important in many industries, especially in transportation, which need to be monitored in practical operation. An investigation on visualization of horizontal settling slurry flow in pipeline using electrical resistance tomography was made in this paper. The internal images of fluid structure were displayed to operators with measurement of the solids concentration distribution and solids velocity distribution in pipe cross section. Experimental investigation with 5% solids loading concentration at various transport velocities was conducted. Meanwhile, the results of photography and other flow measurement methods were compared with the results obtained from electrical resistance tomography

Effect of a cost channel on monetary policy transmission in a behavioral New Keynesian model

This paper explores the impact of the cost channel on the monetary transmission mechanism in a behavioral New Keynesian model. In contrast to previous studies, we demonstrate that the degree of cognitive discounting significantly affects the determinacy condition in the model with a cost channel. Second, we show that the price puzzle arises only when a large value of the cost channel parameter, which is not empirically supported, is introduced with a high degree of cognitive discounting. Third, we find that the degree of cognitive discounting significantly impacts the effect of the cost channel on optimal monetary policy