The Stolper-Samuelson Effects of a Decline in Aggregate Consumption

The Stolper-Samuelson Effects of a Decline in Aggregate Consumption

Consider an economy in which various types of labor are used to produce consumption, but not all types of labor are useful for upgrading the stock of organization capital—that is, for replacing old projects with more productive new projects. When news induces consumers to want to save more, low-quality projects are destroyed across all sectors of the economy, even though the economy is set to i...

English auctions and the Stolper-Samuelson theorem

We prove that the English auction (with bidders that need not be ex ante identical and may have interdependent valuations) has an efficient ex post equilibrium. We establish this result for environments where it has not been previously obtained. We also prove two versions of the Stolper-Samuelson theorem, one for economies with n goods and n factors, and one for non-square economies. Similar as...

Protection and Real Wages: The Stolper-Samuelson Theorem

Comparative Statics, English Auctions, and the Stolper-samuelson Theorem

We introduce a comparative-statics observation; we prove that the English auction is efficient in a model with interdependent valuations and n bidders; we generalize the StolperSamuelson Theorem to the case of more than 2 goods and factors of production and to non-square economies; and we illustrate how our comparative-statics observation is behind those seemingly unrelated economic proposition...

the effects of changing roughness on the flow structure in the bends

flow in natural river bends is a complex and turbulent phenomenon which affects the scour and sedimentations and causes an irregular bed topography on the bed. for the reason, the flow hydralics and the parameters which affect the flow to be studied and understand. in this study the effect of bed and wall roughness using the software fluent discussed in a sharp 90-degree flume bend with 40.3cm ...