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    Pressure inequalities for nuclear and neutron matter

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    We prove several inequalities using lowest-order effective field theory for nucleons which give an upper bound on the pressure of asymmetric nuclear matter and neutron matter. We prove two types of inequalities, one based on convexity and another derived from shifting an auxiliary field.Comment: 16 pages, published journal version - includes inequalities for spin polarized system

    Does neoclassical theory account for the effects of big fiscal shocks? Evidence from World War II

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    There is much debate about the usefulness of the neoclassical growth model for assessing the macroeconomic impact of fiscal shocks. We test the theory using data from World War II, which is by far the largest fiscal shock in the history of the United States. We take observed changes in fiscal policy during the war as inputs into a parameterized, dynamic general equilibrium model and compare the values of all variables in the model to the actual values of these variables in the data. Our main finding is that the theory quantitatively accounts for macroeconomic activity during this big fiscal shock.Economic history ; Fiscal policy ; Macroeconomics - Econometric models
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