A transitional analysis of the welfare cost of inflation

This paper applies new computational methods for studying nonstationary dynamics to reevaluate the welfare cost of inflation. A dynamic stochastic general equilibrium model with heterogeneous agents is studied. Incomplete markets induce agents to hold a fiat currency as insurance against idiosyncratic income fluctuations. Rather than comparing steady state equilibria, I measure the welfare cost of inflation by explicitly modeling the transitional dynamics that arise following a change in monetary policy. Transitional dynamics are shown to increase the welfare cost of inflation substantially. Also, contrary to conventional wisdom, transitional dynamic effects are shown to increase the benefits of reducing the inflation rate.Econometric models ; Inflation (Finance) ; Monetary policy ; Money ; Welfare

Designing Futures From the Inside

By looking at the design process of a narrative-based design fiction, this paper introduces new areas of exploration for futures practices concerned with human-scale futures — the internal worlds of daily lives. Called Trina, the design fiction imagines new practices through the simultaneous creation of storyworld, prototypes, characters, and plot, with an emphasis on relations as opposed to things. By theorizing the design fiction creators as participant-observers in a world that emerges from a field of forces (Ingold, 2013), the paper concludes with questions that arise from a method that may help explore the interconnectedness of futures “from the inside.

Scenes of Writing

This paper looks at how speculative fiction can provide a design space to explore the effects of technologies for critical interpretation. Using Trina: A Design Fiction as a case study, the paper builds upon Lucy Suchman’s study into how technology teams design “the human” in tandem with the computer, asking can there be a model of “the human” suited to technologies for subjective judgment? Looking closely at the characters in Trina, we see individuals whose capacities, specificities, social histories, and individual biographies inform the degree of agency that each has with the writing technologies that define their work and worth. Accounts of writers and their inscription technologies found in recent literature from media and literary studies further demonstrate the contingent nature of textual composition. Rather than look for a generalized human-computer fit, the paper argues for the design of story-worlds in which specific humans, non-humans, and networks are designed in one and the same gesture, revealing the productive misalignments and contested boundaries that define their interactions

Development and Monitoring of Revegetation Methods: Connecting Students with Restoration Activities at Awcomin Marsh

Five classes in a local elementary school participated in an effort to grow and plant high marsh and upper border vegetation at a salt marsh restoration site in spring 2005. Seeds of six marsh upper edge species were successfully germinated and grown into seedlings by third graders. The seedlings were planted by the students in late spring 2005, but only switchgrass and quackgrass plants appeared to have established and survived after one year. Mature shoots of three high marsh species planted by the third graders (salt hay, salt grass and black grass) established successfully and continue to proliferate. In addition, we assessed an experiment of cordgrass plantings performed by community volunteers in 2002. The experiment was designed to test the effectiveness of three planting techniques at a salt marsh restored by the excavation of old dredge spoil that had been colonized by common reed. After four growing seasons, Plug, Bare Root Shoot, and Seed Head planting techniques exhibited greater cover of cordgrass and total cover of vascular plants when compared with unplanted areas. Cover of perennial plants (e.g., cordgrass), which contributes directly to belowground soil development in salt marshes, dominated the planted plots. Cover of annual species dominated the unplanted plots. Planting cordgrass in areas where dredge spoils and common reed had been excavated from a historic marsh accelerated the development of native vegetation compared with unplanted areas. Performance and evaluation of the two sets of plantings has provided information about appropriate planting techniques for our region and has involved and educated the local community about the values of salt marsh to promote stewardship. Recommendations included the use of bare root shoot and seed head planting techniques where cordgrass is desired. Outside plots or a greenhouse may be needed for successful propagation of upper edge marsh species from seed, and a planting program that includes mature plants as well as seedlings is recommended to ensure success

Letter from Eugene Burdick to Representative William Lemke Regarding Garrison Dam Pool Level, January 6, 1949

This letter, dated January 6, 1949, from attorney Eugene Burdick to United States (US) Representative William Lemke concerns the Garrison Dam pool level. Burdick writes that he has enclosed two copies of a bill proposed by Harry E. Polk that would allow an operating pool level to store 17 million acre feet of water and includes propositions against dykes, levees, and other protective works. Burdick concludes by urgingLemke to use his judgement about using the 1,830 language in the bill and that Burdick\u27s thinking is to grant the acre feet storage provided in the 1944 Flood Control Act.https://commons.und.edu/burdick-papers/1297/thumbnail.jp