Dynamics of Output Growth, Consumption and Physical Capital in Two-Sector Models of Endogenous Growth

This paper considers transitional dynamics of a two-sector endogenous growth model in the Uzawa-Lucas framework. We find that when the ratio of physical to human capital is sufficiently high, it is optimal for both consumption and physical capital to fall for a finite period and then gradually rise along their transition path. The paper also shows that for high values of intertemporal elasticity of consumption, rate of growth of output is increasing in the ratio of physical to human capital, while when the elasticity is moderate or low, output growth is U-shaped.Endogenous growth; Uzawa-Lucas model; Transitional dynamics; Golden rule

DeLeT: Graduates' Perceptions of the Program and Their Preparedness for Teaching: An Evaluation Report

This report focuses on how DeLeT graduates from both programs perceive their preparedness for day school teaching, as well as how they perceive the DeLeT faculty and the programs' strengths and weaknesses. It also examines similarities and differences between the two programs and offers possible explanations for the handful of differences we identified. Such an in-depth examination of graduates' perspectives provides valuable formative feedback to both programs. In addition, we anticipate that this report will be useful to funders and faculty at other Jewish teacher education programs who may be interested in using the evaluation tools and procedures we have developed to learn about their graduates and identify areas for program improvement

Board Diversity by Term Limits?

Four-fifths of the corporate board seats in the United States are held by men and a shocking number of companies lack any female representation on their boards. While institutional investors have pushed these companies for change, California took a more aggressive step and followed several European countries by mandating a quota for board representation. Heated argument has ensued over what diversity we should prioritize and what mechanisms should be used to promote diversity. Yet could these challenges be avoided altogether through the use of term limits? This Article is the first academic inquiry exploring the connection between term limits and the sex diversification of the corporate board. Drawing upon quantitative data on director turnover in the S&P 1500 and qualitative data on S&P 500 firms with term limits, our research shows that firms experiencing higher board turnover have more sex diversity. We argue that term limits, a mechanism that increases turnover, may correlate with improved sex diversity on boards. Our findings suggest that promoting term limits in the United States offers a market-based mechanism that could avert this polarized diversity debate

Interface waves in anisotropic media

Imperial Users onl

Rent-seeking, Occupational Choice and Oil Boom.

This paper examines choice of occupation between productive activities and rent-seeking in an oil-dominated economy where oil rent is the major source of public revenue. Three regimes can occur: no rent-seeking, coexistence of rent-seeking and of productive activity and full rent-seeking. The economy may get trapped in each regime unless it shocked by a substantial change in exogenous parts of reward structure. In particular in the latter case the extraction and liquidation of oil is the only productive activity. Oil boom in general rewards both productive and unproductive activities unequally and hence affects occupational choice. We identify situations where boom favours misallocation of talent and the extent of diversion that boom induces dominates its income effect. Our model also captures voracity effect where fiscal transfers grow more proportional than the size of windfall itself. Boom may however cause changing of regime from coexistence of both activities to full rent-seeking even when the voracity effect is not operative. In this case boom has a permanent effect and its aftermath persists even when the oil rent returns to its pre-boom level.Oil economies, rent-seeking, occupational choice, oil boom, voracity effect.

Shape memory effect of NiTi alloy processed by equal-channel angular pressing followed by post deformation annealing

Processing by Equal-Channel Angular Pressing (ECAP) is generally considered superior to most other SPD techniques because it uses relatively large bulk samples. However, due to their low deformability it has proven almost impossible to successfully process NiTi alloys by ECAP at room temperature and therefore the processing is conducted at elevated temperatures. Recently, a new billet design was introduced and it was used to achieve the successful processing of NiTi shape memory alloys by ECAP. In this procedure, a NiTi alloy was inserted as a core within an Fe sheath to give a core-sheath billet. In this research, a NiTi was processed by one pass ECAP with this new billet design at room temperature. The structural evolution during annealing was investigated by X-ray diffraction (XRD) and microhardness measurements. Post deformation annealing (PDA) was carried out at 400°C for 5 to 300 min and the results indicate that the shape memory effect improves by PDA after ECA