Stock-flow consistent modeling through the ages

The aim of the paper is to provide an overview of the current stock-flow consistent (SFC) literature. Indeed, we feel the SFC approach has recently led to a blossoming literature, requiring a new summary after the work of Dos Santos (2006) and, above all, after the publication of the main reference work on the methodology, Godley and Lavoie's Monetary Economics: An Integrated Approach to Credit, Money, Income, Production and Wealth (2007). The paper is developed along the following lines. First, a brief historical analysis investigates the roots of this class of models that can be traced as far back as 1949 and the work of Copeland. Second, the competing points of view regarding some of its main controversial aspects are underlined and used to classify the different methodological approaches followed in using these models. Namely, we discuss (1) how the models are solved, (2) the treatment of time and its implication, and (3) the need-or not-of microfoundations. These results are then used in the third section of the paper to develop a bifocal perspective, which allows us to divide the literature reviewed according to both its subject and the methodology. We explore various topics such as financialization, exchange rate modeling, policy implication, the need for a common framework within the post-Keynesian literature, and the empirical use of SFC models. Finally, the conclusions present some hypotheses (and wishes) over the possible lines of development of the stock-flow consistent models

Capital stranding cascades: The impact of decarbonisation on productive asset utilisation

This article develops a novel methodological framework to investigate the exposure of eco- nomic systems to the risk of physical capital stranding. Combining Input-Output (IO) and network theory, we define measures to identify both the sectors likely to trigger relevant capital stranding cascades and those most exposed to capital stranding risk. We show how, in a sample of ten European countries, mining is among the sectors with the highest external asset strand- ing multipliers. The sectors most affected by capital stranding triggered by decarbonisation include electricity and gas; coke and refined petroleum products; basic metals; and transporta- tion. From these sectors, stranding would frequently cascade down to chemicals; metal products; motor vehicles water and waste services; wholesale and retail trade; and public administration. Finally, we provide an estimate for the lower-bound amount of assets at risk of transition-related stranding, which is in the range of 0.6-8.2% of the overall productive capital stock for our sample of countries, mainly concentrated in the electricity and gas sector, manufacturing, and mining. These results confirm the systemic relevance of transition-related risks on European societies.Series: Ecological Economic Paper

Schumpeter in a matrix: a Stock Flow Consistent analysis of technological change

Schumpeter showed that the boom and bust cycles are intrinsically related to the functioning of the capitalist economy. These boom and bust cycles are inherent to the rise innovation. Our paper analyses innovation cycles in a stock flow consistent framework. It focuses on the essential role of internal and external finance in the emergence of a new technological paradigm. We present two models. The first one, as a tribute to Schumpeters work, follows strictly Schumpeters description of the business cycles induced by technological change, except for the financial side. The second model presents a multi-sectorial economy composed of consumption and capital goods industries, a banking sector and two households sectors: capitalists and wage earners. The stock flow consistent approach allows us to track the flows of funds resulting from the rise of innovators in the system. The dynamics of prices, employment and wealth distribution among the different sectors is analysed. Above all, the role of financial-innovation nexus is underlined. The paper builds the grounds for a wider analysis of schumpeterian structural changes described in Schumpeter (1934/1912) and Schumpeter (1964/1939) We find this particularly relevant to understand the impact and potential sources of instability of an ever more financialized monetary economy of production

Dynamic regulation of quaternary organization of the M1 muscarinic receptor by subtype-selective antagonist drugs

Although rhodopsin-like G protein-coupled receptors can exist as both monomers and non-covalently associated dimers/oligomers, the steady-state proportion of each form and whether this is regulated by receptor ligands is unknown. Herein we address these topics for the M1 muscarinic acetylcholine receptor, a key molecular target for novel cognition enhancers, by employing Spatial Intensity Distribution Analysis. This method can measure fluorescent particle concentration and assess oligomerization states of proteins within defined regions of living cells. Imaging and analysis of the basolateral surface of cells expressing some 50 molecules.microm-2 of the human muscarinic M1 receptor identified an ~75/25 mixture of receptor monomers and dimers/oligomers. Both sustained and shorter-term treatment with the selective M1 antagonist pirenzepine resulted in a large shift in the distribution of receptor species to favor the dimeric/oligomeric state. Although sustained treatment with pirenzepine also resulted in marked upregulation of the receptor, simple mass-action effects were not the basis for ligand-induced stabilization of receptor dimers/oligomers. The related antagonist telenzepine also produced stabilization and enrichment of the M1 receptor dimer population but the receptor subtype non-selective antagonists atropine and N-methylscopolamine did not. In contrast, neither pirenzepine nor telenzepine altered the quaternary organization of the related M3 muscarinic receptor. These data provide unique insights into the selective capacity of receptor ligands to promote and/or stabilize receptor dimers/oligomers and demonstrate that the dynamics of ligand regulation of the quaternary organization of G protein-coupled receptors is markedly more complex than previously appreciated. This may have major implications for receptor function and behavior

Analyse comparative de la gouvernance en efficacité énergétique au Québec sous l'angle des entreprises

Le Québec est sur le point de changer de paradigme dans son rapport à l’énergie et sa consommation. La fin des surplus d’électricité et la lutte contre les changements climatiques pressent le gouvernement à entreprendre une transition énergétique, et l’efficacité énergétique se positionne comme filière de choix pour y parvenir. Seulement, les efforts déployés jusqu’à maintenant pour le développement de cette dernière ne miroitent pas une progression assez agressive et structurée. Ce travail a pour objectif d’analyser la gouvernance en efficacité énergétique par rapport aux entreprises, secteur responsable de 2/3 de la consommation énergétique de la province, dans le but de cibler les lacunes et de proposer des avenues d’améliorations et de modifications dans la démarche gouvernementale. Pour se faire, une comparaison avec les bonnes pratiques de gouvernance en efficacité énergétique dégagée de la littérature scientifique est menée. Cet essai se divise en 4 parties, soit la revue de littérature scientifique, la caractérisation de la gouvernance du Québec, la comparaison entre ces deux entités et une discussion dans lesquelles des recommandations sont émises. Chaque partie est sous-divisée en 5 catégories représentant les thèmes principaux de ce type de gouvernance, soit le cadre de gouvernance, le financement, la réglementation, la communication et l’accompagnement. Après avoir analysé la gouvernance en efficacité énergétique selon le secteur des entreprises, l'étude démontre que le Québec n’applique pas toutes les pratiques recommandées par la littérature et que certaines modifications du système actuel seraient bénéfiques pour son développement. Le gouvernement devrait entre autres mettre sur pied une agence publique de la transition énergétique et instaurer des cibles de performance sectorielles. Il devrait également innover en termes de réglementation pour contraindre les entreprises à certaines actions comme développer un plan de réduction d’énergie ou de gestion d’énergie. De plus, une plus grande attention est nécessaire pour développer le marché de l’efficacité énergétique et ainsi impliquer le secteur privé dans le financement dont les besoins ne vont qu’augmenter dans les prochaines années. En parallèle, un alignement du gouvernement et des distributeurs pour mener une campagne de communication structurante sur l’EÉ permettrait de promouvoir grandement la filière. Finalement, la création d’un service d’accompagnement gratuit neutre et régionalisé par l’état pour les petites et moyennes entreprises permettrait de saisir le grand potentiel d’économie d’énergie qu’elles représentent

Cinéma et modernité : le Festival international du film de Montréal de 1960 à 1967, du personnalisme au néonationalisme

En 1960, Fernand Cadieux et Pierre Juneau créent le premier Festival international du film de Montréal. Chaque année le Festival a lieu au mois d’août jusqu’à l’Expo 67, événement qui marque à la fois le point culminant et final de cette aventure culturelle. L’histoire de cette institution touche à la culture, au personnalisme, au nationalisme, à la cinéphilie ainsi qu’à l’institutionnalisation et à l’industrialisation du cinéma au Canada et au Québec pendant les années cinquante et soixante. Conçu sous le régime politique de Duplessis par d’anciens membres de la Jeunesse étudiante catholique qui deviendraient presque tous fédéralistes, le Festival constitue un objet idéal d’histoire culturelle propice à étendre la compréhension des origines catholiques de la Révolution tranquille. Au plan culturel, il permet aussi de comprendre plus finement la resynchronisation du Québec dans la trajectoire de la modernité, ainsi que les répercussions du choc entre nationalistes et gauchistes québécois contre libéraux fédéralistes. Ce mémoire permet aussi de découvrir le FIFM comme institution cinématographique québécoise, le réseau d’acteurs et d’établissements qui le soutiennent et l’objet de leur passion : les films. La présente analyse explore la manifestation dans ses dimensions à la fois cinématographique et politique, artistique et historique.In 1960, Fernand Cadieux and Pierre Juneau founded the first Montreal International Film Festival. This great cultural adventure was held each August, up until what became its culminating and final year: that of Expo ’67. The history of the festival is intrinsically linked to culture, personalism, nationalism, and cinephillia, as well as the institutionalization and industrialization of cinema in Canada and Quebec during the 1950s and 60s. Created under the political regime of Duplessis by former members of the Jeunesse étudiante catholique (Young Christian Students), who would almost all become federalists, it became apparent to me that the festival constituted a cultural-historic event conductive to expanding our understanding of the Catholic origins of the Quiet Revolution. It also allowed for a finer understanding of the resynchronization of Quebec with modernity and the shock waves that emanated from this change, in particular, between leftists Quebec nationalists against federal Liberals. Moreover, this paper allows us to discover the FIFM in its role as a Quebec cinemagraphic institution, as well as the community of actors and establishments that supported it and the object of their passion: film. The wager is therefore, to analyze in one hundred or so pages, the multiple facets of these issues: the cinemagraphic, political, artistic and historic

Stock-Flow Consistent Modeling Through the Ages

Dieser Vortrag muss hier angekündigt werden: "15. Juli 2008, 19.30 Uhr, Universität [Augsburg], Hörsaalzentrum, Universitätsstr. 10, HS III Schatzwächter und Zauberworte: Flucht ins Archiv. Über Literatur und Wissenschaft, Sammelwahn und Kanonbildung Moderation: Prof. Dr. Joachim Jacob, Neuere Deutsche Literaturwissenschaft mit Schwerpunkt Ethik" Quelle: http://www.uni-protokolle.de/nachrichten/id/15503

Photoswitchable single-walled carbon nanotubes for super-resolution microscopy in the near-infrared

The design of single-molecule photoswitchable emitters was the first milestone toward the advent of single-molecule localization microscopy, setting a new paradigm in the field of optical imaging. Several photoswitchable emitters have been developed, but they all fluoresce in the visible or far-red ranges, missing the desirable near-infrared window where biological tissues are most transparent. Moreover, photocontrol of individual emitters in the near-infrared would be highly desirable for elementary optical molecular switches or information storage elements since most communication data transfer protocols are established in this spectral range. Here, we introduce a type of hybrid nanomaterials consisting of single-wall carbon nanotubes covalently functionalized with photoswitching molecules that are used to control the intrinsic luminescence of the single nanotubes in the near-infrared (beyond 1 μm). Through the control of photoswitching, we demonstrate super-localization imaging of nanotubes unresolved by diffraction-limited microscopy