This paper extends Carroll’s (2006) endogenous grid method and its combination with value function iteration by Barillas and Fernández-Villaverde (2007) to nonconcave problems. The method is illustrated using a consumer problem in which consumers choose both durable and non-durable consumption. The durable choice is discrete and subject to non-convex adjustment costs. The algorithm yields subst...

This paper specifies and estimates a dynamic model of consumer preferences for new durable goods with persistent heterogeneous consumer tastes, rational expectations about future products and repeat purchases over time. Most new consumer durable goods, particularly consumer electronics, are characterized by relatively high initial prices followed by rapid declines in prices and improvements in ...

THE YEAR 1 9 4 0 was characterized by sharp employment increases in industries producing such durable goods as automobiles, aircraft, ships, machinery, and other ferrous metal products, and by an expansion in construction, arising out of the Nation's need for cantonments, shipways, airports, and armament plants. Industries covered by State unemployment compensation laws participated to a greate...

Renewability, recyclability and biodegradable contents are similar to glass fibers in natural fiber reinforced polymer composites (NFRP) which have definite mechanical properties. The interface of matrix results the achieve superior properties products. Researchers extended their product designs production techniques by using renewable materials such as jute fiber, cotton silk etc. enormous use...

Durability of concrete structure in marine environments is a big issue for many decades due to chloride attack. Chloride penetrates the concrete structure and accelerates the corrosion process of reinforcement which decreases the life of those structures. Also shrinkage cracks in concrete play main role for chloride penetration through concrete surface.  Many researchers tried to find easy and ...

Populus species are currently being domesticated through intensive time- and resource-dependent programs for utilization in phytoremediation, wood and paper products, and conversion to biofuels. Poplar leaf rust disease can greatly reduce wood volume. Genetic resistance is effective in reducing economic losses but major resistance loci have been race-specific and can be readily defeated by the ...

High degree of interest sensitivity of durable goods is now a stylized fact in the literature of monetary policy. This literature, however, does not provide a clear and consensual explanation for the modalities of this stylized fact. In this paper, two independent empirical models are performed to shed more light on the cross-sectoral impacts of monetary policy. The results of first study indic...

Present scenario of construction industry is facing problems organizations by-product materials like disposal and ground water contamination etc. that are producing naturally in the process converting one form to other. Scientific experts trying create new building from these will fit current situations avoid damage society environment. The addition make makes environment stable also produces d...

In this paper, we investigate the implications of non-separable preferences over durable and nondurable consumption for asset pricing tests when adjusting durable consumption is costly. In an economy without adjustment costs, in which a frictionless rental market exists for the durable good, the standard Euler equation with respect to nondurable consumption will hold for each individual agent a...

Our investigation into the production substitution between products is motivated by a significant issue faced firms in practice: effective balance of setup and cost. Given that can adjust an operation policy to lower costs or both, manager should also know how best make adjustment. Thus, this study, we consider class dynamic lot sizing problems with one-way two-way product modes under durable p...