14,640 research outputs found
Chaos vs. patience in a macroeconomic model of capital accumulation: New applications of a uniform neighborhood turnpike theorem
We present in this paper some new results on the strong incompatibility between chaos and patience in a macroeconomic model of capital accumulation. These results are explicit and non-trivial applications of the general theorem proven in Guerrero-Luchtenberg (2000), in which the statement (theorem 2) ‘chaos vanishes as the discount factor tends to one’, is formally presented. Here, we show precisely how this statement applies to some important indicators of chaos not analyzed before. Furthermore, we will show that, for a given family of optimal growth models, there is a bound on the discount factor such that any type of chaos is negligible.
Cyclic Pricing by a Durable Goods Monopolist: Corrigendum
In this paper we make a new analysis of the model presented in Conlisk, Gerstner and Sobel (1984). They propose a model in discrete time, such that at each period a new cohort of agents enters the market –each cohort is composed by two types of agents, high value and low value agents– and a monopolist offering a durable good. They argue that in this model the monopolist charge a cyclic price path as a subgame perfect equilibrium. Instead of this, we show that either the monopolist charge a single price forever as a subgame perfect equilibrium or a subgame perfect equilibrium does not exist.Durable goods, monopolist, heterogenous agents, subgame perfect equilibrium
Study of alkaline hydrothermal activation of belite cements by thermal analysis
The effect of alkaline hydrothermal activation of class-C fly ash belite cement was studied using thermal analysis (TG/DTG) by determining the increase in the combined water during a period of hydration of 180 days. The results were compared with those obtained for a belite cement hydrothermally activated in water. The two belite cements were fabricated via the hydrothermal-calcination route of class-C fly ash in 1 M NaOH solution (FABC-2-N) or demineralised water (FABC-2-W). From the results, the effect of the alkaline hydrothermal activation of belite cement (FABC-2-N) was clearly differentiated, mainly at early ages of hydration, for which the increase in the combined water was markedly higher than that of the belite cement that was hydrothermally activated in water. Important direct quantitative correlations were obtained among physicochemical parameters, such as the combined water, the BET surface area, the volume of nano-pores, and macro structural engineering properties such as the compressive mechanical strength
The Network Picture of Labor Flow
We construct a data-driven model of flows in graphs that captures the
essential elements of the movement of workers between jobs in the companies
(firms) of entire economic systems such as countries. The model is based on the
observation that certain job transitions between firms are often repeated over
time, showing persistent behavior, and suggesting the construction of static
graphs to act as the scaffolding for job mobility. Individuals in the job
market (the workforce) are modelled by a discrete-time random walk on graphs,
where each individual at a node can possess two states: employed or unemployed,
and the rates of becoming unemployed and of finding a new job are node
dependent parameters. We calculate the steady state solution of the model and
compare it to extensive micro-datasets for Mexico and Finland, comprised of
hundreds of thousands of firms and individuals. We find that our model
possesses the correct behavior for the numbers of employed and unemployed
individuals in these countries down to the level of individual firms. Our
framework opens the door to a new approach to the analysis of labor mobility at
high resolution, with the tantalizing potential for the development of full
forecasting methods in the future.Comment: 27 pages, 6 figure
The Economic Impact of the Cotton Crop on the Texas High Plains, 2008
Early season high winds and late season cool temperatures have worked together to limit the size of the High Plains cotton crop. Over the past 5 years, the High Plains2 has averaged 4.44 million bales produced each year. However, Plains Cotton Growers recently estimated the 2008 crop to be around 3.2 million bales (Wade). If these production numbers materialize, the 28% drop in production will have significant impacts on the regional economy. The purposes of this briefing paper are to: (1) estimate the impact of the cotton crop on the High Plains economy, and (2) estimate the impact of a smaller than average crop.Agribusiness,
How to excite the internal modes of sine-Gordon solitons
We investigate the dynamics of the sine-Gordon solitons perturbed by
spatiotemporal external forces. We prove the existence of internal (shape)
modes of sine-Gordon solitons when they are in the presence of inhomogeneous
space-dependent external forces, provided some conditions (for these forces)
hold. Additional periodic time-dependent forces can sustain oscillations of the
soliton width. We show that, in some cases, the internal mode even can become
unstable, causing the soliton to decay in an antisoliton and two solitons. In
general, in the presence of spatiotemporal forces the soliton behaves as a
deformable (non-rigid) object. A soliton moving in an array of inhomogeneities
can also present sustained oscillations of its width. There are very important
phenomena (like the soliton-antisoliton collisions) where the existence of
internal modes plays a crucial role. We show that, under some conditions, the
dynamics of the soliton shape modes can be chaotic. A short report of some of
our results has been published in [J. A. Gonzalez et al., Phys. Rev. E, 65
(2002) 065601(R)].Comment: 14 .eps figures.To appear in Chaos, Solitons and Fractal
Frictional Unemployment on Labor Flow Networks
We develop an alternative theory to the aggregate matching function in which
workers search for jobs through a network of firms: the labor flow network. The
lack of an edge between two companies indicates the impossibility of labor
flows between them due to high frictions. In equilibrium, firms' hiring
behavior correlates through the network, generating highly disaggregated local
unemployment. Hence, aggregation depends on the topology of the network in
non-trivial ways. This theory provides new micro-foundations for the Beveridge
curve, wage dispersion, and the employer-size premium. We apply our model to
employer-employee matched records and find that network topologies with
Pareto-distributed connections cause disproportionately large changes on
aggregate unemployment under high labor supply elasticity
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