We find that declining bank credit to the private sector will not necessarily constrain the economic recovery after output has bottomed out following a financial crisis. To obtain this result, we examine data from 39 financial crises, which – as the current one – were preceded by credit booms. In these crises the change in bank credit, either in real terms or relative to GDP, consistently did n...

This paper develops an endogenous growth model with spillovers of public goods, Leviathan taxation, and mobile capital to examine the relative merits of centralized and decentralized fiscal systems for economic growth and social welfare. We show that a decentralized system dominates a centralized system in terms of economic growth; however, the difference in social welfare between a decentraliz...

The taxonomy, nomenclature, identification, introduction history, biology, and economic importance of Chaetocnema concinna (Marsham, 1802) are reviewed, and its status as pest or beneficial insect is discussed. While it is the most important pest of sugar beet in Europe, its economic importance has not yet been demonstrated in North America. Chaetocnema concinna is widely distributed in Nova Sc...

For almost four decades, various plans and policies have been tried to improve socioeconomic development in the Central African Republic. The results, however, are mixed. At present, the situation in the Central African Republic is characterized by widening poverty, caused by weak economic growth that has failed to keep up with high population growth, and the social and economic consequences of...

We describe an approach to logic programming where the execution of a pure logic program is ordered on “temporal” values in the program. The resulting programs are relational and avoid a premature commitment to data structures. This is a strong advantage in a programming language. We present the programming language Starlog as an example of this approach and give a summary of its denotational a...

Many current approaches to statistical language modeling rely on independence a.~sumptions 1)etween the different explanatory variables. This results in models which are computationally simple, but which only model the main effects of the explanatory variables oil the response variable. This paper presents an argmnent in favor of a statistical approach that also models the interactions between ...

This article traces the unstable semantics of use cases from Jacobson to UML 1.3. The UML 1.1 metamodel formally defined the «uses» and «extends» use case relationships as stereotypes of generalisation, yet both received interpretations that varied between inheritance and composition, reflecting a large degree of confusion among developers. The recently revised UML 1.3 has quietly dropped these...

In 1987 the State of Wisconsin, in authorizing a state lottery, required the Wisconsin Lottery Board to contract with IRP to undertake a study of the impact of the lottery on Wisconsin residents of various income levels. Titled "Who Plays the Lottery? A Comparison of Patterns in Wisconsin and the Nation," the study was carried out by Irving Piliavin and Michael Polakowski and is available as IR...

We show that in language learning, contrary to received wisdom, keeping exceptional training instances in memory can be beneecial for generalization accuracy. We investigate this phenomenon empirically on a selection of benchmark natural language processing tasks: grapheme-to-phoneme conversion, part-of-speech tagging, prepositional-phrase attachment, and base noun phrase chunking. In a rst ser...

Estuaries and coastal zones are dynamic transitional systems which provide many economic and ecological benefits to humans, but also are an ideal habitat for other organisms as well. These areas are becoming contaminated by various anthropogenic activities due to a quick economic growth and urbanization. This chapter explores the sources, chemical speciation, sediment accumulation and removal m...