I construct a simple model with sticky prices and interest rate targets, closed by fiscal theory of the price level long-term debt monetary policy rules. Fiscal surpluses rise following deficits, to repay accumulated debt, but do not respond all values unexpected inflation deflation. This specification avoids common puzzles produces reasonable responses shocks. It allows an easy translation any...

Abstract The stakeholder (or responsible) firm is defined in this paper as one that maximizes the (weighted or unweighted) sum of surpluses its customers and suppliers (including workers). We show that, although objective hard to empirically measure, it can be pursued by simple management rules rely on constrained profit maximization. find unconstrained maximization gives a competitive edge ord...

Analysis of the current state nutrient stocks, flows, and balances a territory is necessary to inform strategies that can transition agri-food sector circular economy model. In this study, we quantified nitrogen phosphorus budgets for Bolivian system at national regional scales by way agro-ecological zoning. We performed calculate indicators sufficiency (extent deficit/surplus) circularity (pro...

The fiscal balance is the difference between a government’s revenues and its expenditures. It signals if public accounts are balanced or there surpluses deficits. Recurrent deficits over time imply accumulation of debt may send worrying to consumers investors about sustainability which, in turn, deter consumption investment decisions. Nonetheless, kept at sustainable level, can help finance nec...

While many Asian emerging markets now run current account surpluses, reducing Asia’s overall excess savings is largely about modifying growth patterns and saving–investment balances in China. China accounts for about half of the total GDP in Asia ex-Japan but over two-thirds of the region’s total savings and current account surplus. One feature shared by all Asian economies is the surge in corp...

By-products and surpluses from food industries could generate peptides with great interest for food formulation. Hence, the separation and concentration of bioactive peptides from natural sources becomes increasingly attractive to the food industry [1]. Recently, a snow crab byproducts hydrolysate showed antibacterial activity [2]. This activity was due to an antibacterial peptide of about 800 ...

In this paper, we consider the social welfare maximization problem facing a government confronting a potential future security threat. The government must choose how much to devote to long lead time military expenditures. The government must also choose whether to run fiscal surpluses or deficits. We show that the government may optimize social welfare by accumulating a precautionary surplus or...

We consider a modified version of the de Finetti model in insurance risk theory in which, when surpluses become negative the company has the possibility of borrowing, and thus continue its operation. For this model we examine the problem of estimating the “time-in-the red” over a finite horizon via simulation. We propose a smoothed estimator based on a conditioning argument which is very simple...