We propose a generalization of existing business cycle models which allows us to decompose recessions into permanent and transitory components. We find that the transitory component of recessions accounts for between 77% and 96% of the observed variance of monthly indicator series. Our results suggest the following three phase characterization of the business cycle: recession, high-growth recov...

In contrast to the conventional static view of the brain, recent experimental data show that an alternative view is necessary for an appropriate interpretation of its function. Some selected problems concerning the cortical transitory dynamics are discussed. For the first time, we propose five scenarios for the appearance of chaotic itinerancy, which provides typical transitory dynamics. Second...

We examine the effect of rainfall on agricultural output and democratization in world’s most countries. As economics literature, we find that relationship between has an inverted U-shape, as agriculture is harmed by both droughts very wet conditions. also to be transitory. The U-shaped short run, this persists long run. Hence democratic transitions outlast (transitory) shocks started process. c...

A questionnaire survey of Boston Public School nurses was undertaken to determine the extent of their dental knowledge. The results of the study indicated that although the nurses state that s sizable number (18-22) of dental emergencies occur during a typical school month, the diagnosis and treatment of these problems is often inadequate when judged by currently accepted standards. Ttn’s is no...

We develop an analytically tractable consumption-savings model for a liquidityconstrained agent who faces both permanent and transitory income shocks. We find that risk aversion and intertemporal substitution have very different effects on both consumption and the steady-state savings target. Moderate changes in risk aversion have large effects on consumption and buffer-stock savings. With perm...