The Political Economy of Declining Industries: Senescent Industry Collapse Revisited

One of the most robust empirical regularities in the political economy of trade is the persistence of protection. This paper explains persistent protection in terms of the interaction between industry adjustment, lobbying, and the political response. Faced with a trade shock, owners of industry-specific factors can undertake costly adjustment, or they can lobby politicians for protection and thereby mitigate the need for adjustment. The choice depends on the returns from adjusting relative to lobbying. By introducing an explicit lobbying process, it can be shown that the level of tariffs is an increasing function of past tariffs. Since current adjustment diminishes future lobbying intensity, and protection reduces adjustment, current protection raises future protection. This simple lobbying feedback effect has an important dynamic resource allocation effect: declining industries contract more slowly over time and never fully adjust. In addition, the model makes clear that the type of collapse predicted by Cassing and Hillman (1986) is only possible under special conditions, such as a fixed cost to lobbying. The paper also considers the symmetric case of lobbying in growing industries.

Sound and light from fractures in scintillators

Prompted by intriguing events observed in certain particle-physics searches for rare events, we study light and acoustic emission simultaneously in some inorganic scintillators subject to mechanical stress. We observe mechanoluminescence in ${Bi}_4{Ge}_{3}{O}_{12}$, ${CdWO}_{4}$ and ${ZnWO}_{4}$, in various mechanical configurations at room temperature and ambient pressure. We analyze how the light emission is correlated to acoustic emission during fracture. For ${Bi}_4{Ge}_{3}{O}_{12}$, we set a lower bound on the energy of the emitted light, and deduce that the fraction of elastic energy converted to light is at least $3 \times 10^{-5}$

Appeal No. 0013: Baldwin Producing Corporation v. State of Ohio, acting by and through the Chief of the Division of Oil and Gas Department of Natural Resources

Adjudication Orders #130, and Amendments No.1 & 2 to Order #13

Derived categories of cubic fourfolds

We discuss the structure of the derived category of coherent sheaves on cubic fourfolds of three types: Pfaffian cubics, cubics containing a plane and singular cubics, and discuss its relation to the rationality of these cubics.Comment: 18 page