1,571 research outputs found
Net worth ratio and financial instability
In order to better understand relationships between the real economy and financial economy, it is necessary to formulate a model of financing. New Keynesian theory emphasizes that a firm's net worth influences investment decisions and business cycles under an imperfect capital market. We have constructed a dynamic model from the standpoint of post Keynesian economics. We incorporate a dynamic equation of a firms net worth ratio and investigate financial factors, which give rise to economic instability. Our results demonstrate that a steady state can be a saddle point when the dividend rate is low and the banks lending reaction to the net worth ratio is more elastic than investment reaction. When the steady state is the saddle, the change in the basic discount rate is likely to shift the economy from an unstable path to a convergence path. Financial policy has a stabilizing effect in the long-run as well as a positive effect in the short-run
Geometrical Structures of Photographic and Stereoscopic Spaces
Sin resumenSin resume
Study on Effects of the Density Current Generator by Experiment and Measurement
The density current generator (Manufacturer: Nakashima Propeller Co., Ltd., Patent owner: Hitachi Metals, Ltd.) is designed to generate vertical circulation over a wide water area harnessing the density current effect. We present some experimental results that we obtained using a float equipped with a GPS unit to study water flows generated by a density current generator unit set in S-Reservoir in Okayama Prefecture. We also present some measured results concerning the water temperature around the unit. We discuss its effects observing the experimental results and the measured results
Studies on the Determination of Non-Metallic Inclusions in Iron and Steel. I : Determination of Non-Metallic Inclusions in Plain Carbon Steel and Silicon Steel
Non-metallic inclusions in iron and steel are usually determined by hot nitric acid, electrolytic or chlorine methods. The present authors studied the adaptabilities of these three methods in the analyses of plain carbon steel and silicon steel, and obtained the following results : In plain carbon steel, these methods were easily carried out but hot nitric acid method gave a lower value for silica than other methods, and electrolytic method gave a higher value for ferrous oxide and manganese oxide than other methods. After all, chlorine method was most convenient and accurate. Hot nitric acid and electrolytic methods gave somewhat higher value for silica in silicon steel, but if more chlorine would be passed than in the usual case, chlorine method would give correct results
- …