The mKP equation with self-consistent sources (mKPESCS) is treated in the framework of the constrained mKP hierarchy. We introduce a new constrained mKP hierarchy which may be viewed as the stationary hierarchy of the mKP hierarchy with self-consistent sources. This offers a natural way to obtain the Lax representation for the mKPESCS. Based on the conjugate Lax pairs, we construct the generali...

Laboratory experiments are used to study the voluntary provision of a pure public good in the presence of an anonymous external donor. The external funds are used in two different settings, lump-sum matching and one-to-one matching, to examine how allocations to the public good are affected. The experimental results reveal that allocations to the public good under lumpsum matching are significa...

Using the standard real business cycle model with lump-sum taxes, we analyze the impact of fiscal policy when agents form expectations using adaptive learning rather than rational expectations (RE). The output multipliers for government purchases are significantly higher under learning, and fall within empirical bounds reported in the literature (in sharp contrast to the implausibly low values ...

Using Bäcklund transformation the spectral property of the KP-I lump solution is completely analyzed. It is proved that the lump solution is nondegenerate and has Morse index one. As a consequence we show that it is orbitally stable.

This paper studies the optimal linear tax-transfer policy in an economy where agents di¤er in productivity and in genetic background, and where longevity depends on health spending and genes. It is shown that, if agents internalize imperfectly the impact of genes and health spending on longevity, the utilitarian social optimum can be decentralized with type-speci…c redistributive lump sum trans...

Using the standard real business cycle model with lump-sum taxes, we analyze the impact of fiscal policy when agents form expectations using adaptive learning rather than rational expectations (RE). The output multipliers for government purchases are significantly higher under learning, and fall within empirical bounds reported in the literature (in sharp contrast to the implausibly low values ...

Due to the use of distortionary taxation, many believe that real-world economies should attain a lower level of public expenditures than one might suspect from the analysis of arti cial models where lump-sum taxes are assumed to be available. The paper examines this popular hypothesis by means of the two-type self-selection model of income taxation. I provide su cient conditions for both a lowe...

Many people invest regularly in sinking funds that track stock market indices. When stock markets themselves sink significantly, as in the current credit crunch, investors face a decision as to whether they should continue paying into a falling fund, or switch payment to a risk-free deposit account until the market recovers. Most financial advice is to keep investing on the grounds that as the ...

forecasting of macroeconomic variables has specific importance in economic topics. indeed, different models are invented to forecast variables to help economic policy makers in adopting appropriate monetary and fiscal policies. in this paper, the performance of integrated model of input-output (io) and neural network is investigated in forecasting final demand and total production and the resul...

Modelling of heterogeneous systems is always a trade-off between model complexity and accuracy. Most libraries of object-oriented, equation-based, multi-physical simulation tools are based on lumped parameter description models. However, there are different ways of including spatial dependency of certain variables in the model. One way that might be quite difficult is to manually discretize the...