The Great Leap Forward disaster, characterized by a collapse in grain production and a widespread famine in China between 1959 and 1961, is found attributable to a systemic failure in central planning. Wishfully expecting a great leap in agricultural productivity from collectivization, the Chinese government accelerated its aggressive industrialization timetable. Grain output fell sharply as th...

The structure of the unbound F15 nucleus is investigated using inverse kinematics resonant scattering a radioactive O14 beam impinging on CH2 target. analysis H1(O14,p)O14 and H1(O14,2p)N13 reactions allowed confirmation previously observed narrow 1/2? resonance, near two-proton decay threshold, identification two new 5/2? 3/2? resonances. newly levels by 1p emission to ground O14, sequential 2...

This papers analyses the causes behind Africa’s unfortunate transformation into the source of the world’s slaves over the early modern period. We discuss the economic and technological forces leading to it, and address questions such as why were most slave buyers Europeans and most slave sellers Africans. We then relate the discussion to the long-term determinants of African underdevelopment, a...

Using quarterly data for the last four decades, we test a number of traditional assumptions about aggregate consumer behaviour in the UK, with regard to the order of integration of the time series, the income elasticity of consumption and the stability of the parameters of the consumption function. In all cases, modification of these assumptions now appears to be necessary. JEL Classification: E21

In recent years, aiming to reduce the Greenhouse Gas pollution and promote energy efficiency and conservation among consumers’ energy use, price policies and price changes derived from environmental regulations have played a more important role. In this paper, using the most recent annual state-level panel data for 48 states, I estimate a dynamic partial adjustment model for electricity demand ...

this paper extends endogenous growth models through augmenting it with government budget and oil revenues as well as the effect of public investment efficiency on long run growth of private and government consumption and import for an oil producing economy. based on the extracted model, the optimal growth rate of government current expenditure (or consumption) has a positive relation with the e...

explanation relation between risk and return and capital asset pricing are concepts which is appointed as dominator and major paradigms in capital markets. so far as after offering capm by sharp & lintner, this model has been revised and criticized frequently. in this paper another version of capm has been tested versus traditional capm in tehran stock exchange. this version of capm measures se...

A primary motivation of telework policy is to reduce energy consumption and greenhouse gas emissions. Using a numerical simulation of the standard urban model, we show telework causes sprawl, calling into question the idea that telework decreases energy consumption. Overall effects depend on wage changes due to telework, land use regulation such as height limits or greenbelts, and the telework ...

Cross-country data on energy consumption, GDP and vulnerability are used to measure percentage changes in vulnerability associated with percentage changes in per capita GDP and per capita energy consumption. Energy consumption, through its nonlinear effects on per capita income, have the effect of reducing a country’s overall vulnerability to climate change by a greater amount at moderate incom...

In this companion paper to “Optimal Investment with Transaction Costs and Stochastic Volatility Part I: Infinite Horizon”, we give an accuracy proof for the finite time optimal investment and consumption problem under fast mean-reverting stochastic volatility of a joint asymptotic expansion in a time scale parameter and the small transaction cost. AMS subject classification 91G80, 60H30. JEL su...