We analyze the ups and downs in economic growth recent decades by constructing a model with recurrent bubbles, crashes, endogenous growth. Once realized, bubbles crowd investment stimulate growth, but expectation about future crowds out reduces identify bubbly episodes estimating using US data. Counterfactual simulations suggest that IT housing not only caused booms also lifted GDP almost 2 per...

Abstract The increasing use of bioethanol fuel, as a promising carbon-neutral alternative to petroleum-based gasoline, has raised concerns on compatibility issues between and the polymer components used in automotive fuel system. Here, performance two commercial glass-fiber reinforced polyamide composites (polyamide 12 (PA12) an aromatic highly-biobased (polyphthalamide, PPA)) exposed mixture e...

August 9, 2016 Circulation. 2016;134:e32–e69. DOI: 10.1161/CIR.0000000000000426 e32 Robert L. Page II, PharmD, MSPH, FAHA, Chair Cindy L. O’Bryant, PharmD Davy Cheng, MD, MSc Tristan J. Dow, MD Bonnie Ky, MD, MSCE C. Michael Stein, MB ChB, FAHA Anne P. Spencer, PharmD Robin J. Trupp, PhD, ACNP-BC, FAHA JoAnn Lindenfeld, MD, FAHA, Co-Chair On behalf of the American Heart Association Clinical Pha...

SBTC is a powerful mechanism in explaining the increasing gap between educated and uneducated wages. However, SBTC cannot mimic the US within-group wage inequality. This paper provides an explanation for the observed intra-college group inequality by showing that the top decile earners’ significant wage growth is underpinned by the link between ex ante ability, math-heavy college majors and hig...

The construction of eight nonisomorphic new symmetric (100,45,20)-designs, having E25 . S3 as their full automorphism group, is presented. 1. PRELIMINARIES Symmetric (100,45,20)-designs belong to Menon series consisting of all symmetric designs with parameters (4t2, 2t2 t, t2 t). The existence of such a design, on the basis of its equivalence with the existence of regular Hadamard matrix of ord...

The paper presents a theory of the industrial transformation amongst sectors along the balanced growth path equilibrium, using endogenous growth theory. Allowing only a slight upward trend in the productivity of the human capital sector, combined with ascending degrees of human capital shares of sectoral output, in say, agriculture, manufacturing and services, output gradually shifts relatively...

Motivated by the effects of COVID-19 pandemic, we present a theory Keynesian supply shocks: shocks that reduce potential output in sector economy, but that, reducing demand other sectors, ultimately push aggregate activity below potential. A shock is more likely when elasticity substitution between sectors relatively low, intertemporal high, and markets are incomplete. Fiscal policy can display...

Abstract: How asset prices should be taken into account in monetary policy is a controversial question mainstream discussion. These positions can differentiated two broad perspectives: the proactive and reactive views. The view advocates pricking price bubble, while argues against targeting prices. In this article relation between Austrian business cycle theory examined. Following this, critiqu...

Using a normalized CES function with factor-augmenting technical progress, we estimate a supply-side system of the US economy from 1953 to 1998. Avoiding potential biases that have occurred in earlier estimations and putting a high emphasis on the consistency of the data set, required by the estimated system, we obtain robust results not only for the aggregate elasticity of substitution but als...

in this study, we assess the impact of oil price changes on the macroeconomic variables of some oil importers in oecd countries, including usa, italian, france and japan during the period 1960-2002. the results for different countries imply asymmetric impact of oil price changes on gdp growth rates; moreover, the results show that monetary shocks are an important and noticeable factor explainin...