We show that deterioration in household balance sheets, or the housing net worth channel, played a significant role in the sharp decline in U.S. employment between 2007 and 2009. Counties with a larger decline in housing net worth experience a larger decline in non-tradable employment. This result is not driven by industry-specific supplyside shocks, exposure to the construction sector, policy-...

This paper builds models of nonlinear dynamics in the aggregate investment and borrower net worth and uses them to study the causes and nature of endogenous credit cycles. The basic model has two types of projects: the Good and the Bad. The Bad is highly productive, but, unlike the Good, it generates less aggregate demand spillovers and contributes little to improve borrower net worth. Furtherm...

Original scientific paper In this study a multi-objective formulation for optimal sizing and finally optimal operation of wind farm in distribution systems for maximizing net present worth of system is analysed. The proposed system in this study consists of upstream network i.e. 63 kV / 20 kV substation as main grid and wind turbines as DG to supply load. In this study, total net present worth ...

Private monetary transfers from parents to adult children living in a separate household constitute an important share of aggregate net worth in the economies of major economies like the United States or Germany. Evidence from the United States from the middle eighties suggests that parental intervivos transfers gifts given from living parents to adult childrenare the source of at least 11 perc...

Building on evidence of increasing inequality with the 2008-9 recession, we ask whether households experienced different financial trajectories through the recession depending on initial income and net worth. Using growth curve models of households headed by young adults in the Panel Study of Income Dynamics, we compare the relationship between initial income and net worth and the rate of chang...

 County-level housing net worth shock: We cannot make the exact county-level housing net worth shock used in our analysis publicly available given restrictions in our agreements with Equifax and CoreLogic. However, we can make a CBSA-level data set available that replaces Equifax debt with county-level debt from the Federal Reserve Bank of New York, and replaces CoreLogic house price growth fr...

projects scheduling by the project portfolio selection, something that has its own complexity and its flexibility, can create different composition of the project portfolio. an integer programming model is formulated for the project portfolio selection and scheduling.two heuristic algorithms, genetic algorithm (ga) and simulated annealing (sa), are presented to solve the problem. results of cal...

African American children are more likely to be poor and live in households that are ‘‘asset poor,’’ with no or very little net worth. Using the Panel Study of Income Dynamics and its Child Development Supplement, this article explores whether living in a household with net worth above the sample median seems to promote educational success and the development of human capital over time, irrespe...