We study how the introduction of a central bank-issued digital currency affects interest rates, the level of economic activity, and welfare in a model where both central bank money and private bank deposits are used in exchange. Banks in our model are financially constrained and the liquidity premium on bank deposits affects the level of aggregate investment. We study the optimal design of a di...

The design of drives for high accelerating loads becomes very simple and clear with the fact that the torque– acceleration product is transmitted unchanged by an ideal gear, just like in the case of the torque–speed product (i.e., mechanical power). With this knowledge, it is easy to determine the required rated power and power rate a motor must possess for driving a given load with the specifi...

We propose an optimal, two-stage procedure for the optimal design of minimum cost hierarchical spanning networks, consisting of a main path and secondary trees. The optimal location of the origin and destination nodes of the path is also found. We test our procedure and compare it with a known method. c © 2007 Elsevier B.V. All rights reserved.

Article history: Received 6 November 2013 Received in revised form 17 November 2014 Accepted 2 January 2015

Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/about/terms.html. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your perso...

Distillation is a widely used separation method in the process industries and it is the largest energy consumer among individual process units. Improvement of energy efficiency in distillation systems is still an active research field. Among the issues concerned with the improvement of energy efficiency of distillation systems, the optimal design and synthesis A SHORT Note ABOUT ENERGY-EFFICIEN...

In this Section we study the optimal design of top income taxes.1 We have already covered optimal top income taxation in a simple Mirrlees framework in Section 2. Today, we will start from the “trickle down” model with endogenous wages introduced by Stiglitz (1982). We then analyze an example of optimal taxation in a general equilibrium model where workers choose between di↵erent occupations/se...

In life-cycle costing analyses, optimal design is usually achieved by minimising the expected value of the discounted costs. As well as the expected value, the corresponding variance may be useful for estimating, for example, the uncertainty bounds of the calculated discounted costs. However, general explicit formulas for calculating the variance of the discounted costs over an unbounded time h...

In order to develop a human hand mechanism, a 5-bar finger with redundant actuation is suggested Optimal sets of actuator locatiom and link lengths for the cases of minimum actuator, one, two, and three redundant actuators are obtained by employing a composite design index which simultaneously consider several performance indices such as workspace, isotropic index, and force transmission ratio,...