Total Unit Costs, Marginal Costs and the New Keynesian Phillips Curve

This paper considers the role of non-labor unit costs in estimating the new Keynesian Phillips curve (NKPC). We show that the theory-based marginal cost of a firm is a function of both labor and non-labor unit costs including, capital costs, net interest payments and production taxes. Using data on labor costs and non-labor payments in nonfarm GDP for the US, that closely match our theory-based model, we construct a total unit cost that we use as a proxy for marginal cost. We show that adding non-labor unit costs to the familiar unit labor costs improves the existing empirical support for the role of real marginal cost as the driving variable in the NKPC and of expectations-based inflation persistence. Total unit costs also imply a duration of fixed nominal contracts that is closer to those suggested by firm-level surveys than that implied by labor unit costs.

Land Grant Application- Robinson, George (Hollis)

Land grant application submitted to the Maine Land Office on behalf of George Robinson for service in the Revolutionary War, by their widow Isabella.https://digitalmaine.com/revolutionary_war_me_land_office/1769/thumbnail.jp

Impact of cirrus on the surface radiative environment at the FIRE ETLA Palisades, NY site

FIRE Extended Time Limited Area (ETLA) observations provide year round information critical to gaining a better understanding of cloud/climate interactions. The Lamont/Rutgers team has participated in the ETLS program through the collection and analysis of shortwave and longwave downwelling irradiances at Palisades, NY. These data are providing useful information on surface radiative fluxes with respect to sky condition, solar zenith angle and season. Their utility extends to the calibration and validation of cloud/radiative models and satellite cloud and radiative retrievals. The impact cirrus clouds have on the surface radiative environment is examined using Palisades ETLA information on atmospheric transmissivities and downwelling longwave fluxes for winter and summer cirrus and clear sky episodes in 1987

FIRE extended time/limited area observations at Palisades, New York

Downwelling shortwave and longwave irradiation are being continuously monitored at Palisades, New York as part of the First International Satellite Cloud Climatology Project (ISCCP) Regional Experiment (FIRE) Extended Time/Limited Area Initiative. In addition, fisheye (180 degree) sky photographs are taken at the times of NOAA 9 and LANDSAT satellite overpasses on select days, particularly when cirrus clouds are present. Measurements of incoming shortwave (0.28 to 2.80 microns) hemispheric and diffuse, hemispheric near infrared (0.7 to 2.80 microns), and downwelling hemispheric infrared (4.0 to 50.0 microns) irradiation have been made from a rooftop location on the grounds of the Lamont-Doherty Geological Observatory since December 1986. The three Eppley Precision Spectral Pyranometers and the Eppley Pyrgeometer used to measure these variables were calibrated with Colorado State University instruments at Madison, Wisconsin as part of the FIRE Intensive Laboratory. Pyrgeometer output contains an adjustment for body temperature but not for dome temperature. Data are transmitted to a Campbell CR-21 Digital Recorder, where one minute averages of ten second samples are stored and subsequently dumped to a cassette recorder. Using a Campbell C-20 Cassette Interface, these data are transferred to an Apple Macintosh computer for analysis and for archiving on floppy disks. In addition to the raw irradiances collected, variables derived from these data are generated and stored. These include: the ratio of near infrared irradiation to visible irradiation and the fraction of the full shortwave irradiation which is diffuse; and will soon include: shortwave transmissivity and optical depth in the shortwave. Sky photographs are taken with an Olympus OM2-N 35 mm camera and are timed to be coincident with overpassing NOAA and LANDSAT satellites. Palisades is within the field of view of the NOAA 9 daily in the middle to late afternoon. The satellite viewing angle is within 45 degrees of nadir over Palisades on approximately half of the passes

Henri Temianka Photographs, Publicity

https://digitalcommons.chapman.edu/paganini_quartet_photos/1029/thumbnail.jp

The absorption spectrum of ozone in solution

M.S.W. H. Eberhard