Incorporating weakly nonseparable preferences into the familiar time-preference model, we emphasize a role of steady-state welfare changes in determining the effect of permanent tariffs on the current account. The effect consists of: a welfare effect, due to steady-state welfare changes, which is negative (positive) when preferences toward imports are more (less) wealth-enhanced than toward exp...

We develop a perpetual youth model to investigate how longevity affects economic growth and welfare. Life expectancy is determined by individuals’ investments in healthcare. We find that improvements in the healthcare technology always increase the steady state growth rate. Although the effect is small, even for large increases in longevity, welfare gains may be substantial depending on the typ...

in this paper, startup performance of upflow anaerobic hybrid reactor and upflow anaerobic sludge blanket reactors in anaerobic treatment of distillery spentwash has been studied under identical conditions of operation. various effluent characteristics like ph, electrical conductivity, chemical oxygen demand, biochemical oxygen demand and total solids and other process parameters like biogas p...

Trunk stiffness was measured in healthy human subjects as a function of steady-state preload efforts in different horizontal loading directions. Since muscle stiffness increases with increased muscle activation associated with increasing effort, it is believed that coactivation of muscles helps to stiffen and stabilize the trunk. This paper tested whether increased steady-state preload effort i...

In the absence of government commitment, the conduct of fiscal and monetary policy depends on the sign of inherited net nominal government obligations. When these obligations are negative, monetary policy is non-distortionary and fiscal policy distortions are smoothed over time, either forever or for a finite number of periods, depending on the initial state. For positive net nominal government...

We construct a dynamic general equilibrium model to analyze the effects of large energy subsidies in a small open economy. The model includes domestic energy production and consumption, trade in energy at world market prices, as well as private and public sector production. The model is calibrated to Egypt and used to study reforms such as reductions in energy subsidies with corresponding reduc...