AN ECONOMIC ANALYSIS OF STABILIZING SCHEMES

The main purpose of this paper is to analyze the welfare implications of stabilizing consumption and production and to compare it with the already-known welfare implications of stabilizing prices. Two sets of assumptions regarding supply behavior will be considered: (1) supply reacts instantaneously to a change in market prices, (2) producers react to changes in expected prices and expectations are "rational" within the context developed by J.F. Muth.Institutional and Behavioral Economics,

LEAST SQUARES ESTIMATION OF DISTRIBUTED LAG MODELS: RELATIONSHIPS BETWEEN ACTUAL AND FIRST DIFFERENCE EQUATIONS

The purpose of this paper is to focus on the rigidity model and illustrate some relationships between the typical use of the model and a version of it involving first differences in the dependent variable. These relationships will be extended to least squares estimation of rigidity models. A useful correspondence between least squares estimates of the typical model and the first difference model will be demonstrated.Research Methods/ Statistical Methods,

Kubo-Anderson theory of polariton lineshape

We apply the Kubo-Anderson stochastic theory of molecular spectral lineshape to the case of polaritons formed in the collective strong coupling regime. We investigate both the fast and slow limits of the random frequency modulation of the emitter as well as the intermediate regime and show how the interplay between the characteristic timescales of the cavity and the molecular disorder is expressed in the observed polaritons lineshapes. The analytical solution obtained for the slow limit is valid for any ratio between the inhomogeneous broadening of the molecules and the Rabi splitting, especially relevant for molecular polaritons where these two quantities can be of the same order of magnitude