ABSTRACT Keynes and Hayek are usually perceived in the history of economic thought as intellectual rivals. Although it is true that terms policy recommendations, they have not always seen eye to eye, there numerous theoretical elements two economists tend share. This especially if one follows Axel Leijonhufvud (1976) considering Keynes’s fundamental work Treatise General Theory. In early 1930s,...

in this paper, the effects of input temperature and compression ratio on the net output work and efficiency of the air standard cycles, i.e. atkinson cycle, diesel cycle and otto cycle are analyzed. we assumed that the compression and power processes are adiabatic and reversible and any convective, conductive and radiative heat transfer to cylinder wall during the heat rejection process may be ...

Exergy analysis of an integrated molten carbonate fuel cell-turbo expander-steam turbine hybrid cycle has been presented in this study. The proposed cycle has been used as a sustainable energy approach to provide a micro hybrid power plant with high exergy efficiency. To generate electricity by the mentioned system, an externally reformed molten carbonate fuel cell located upstream of the combi...

abstract: minimizing the work consumed in refrigeration system is the most effective measure to reduce the cost of products in sub-ambient chemical processes. the introduction of mixed working fluids into refrigeration system in place of pure working fluids is a recent advancement applied in the field. due to the lack of systematic design method for mixed refrigerant cycle (mrc), conventional a...

In the production function approach, an accurate output gap assessment requires a careful evaluation of the total factor productivity (TFP) cycle. We build a common cycle model that links TFP to capacity utilization and we show that, in almost all of the preenlargement EU countries, using information about capacity utilization reduces both the total estimation error and the revisions in real-ti...

In this study, we use the co-movements approach to examine role of permanent (common trend) and temporary cycle) shocks on per capita output, consumption, investment in Peru, a small open commodity-based economy. Using quarterly data from 1993: Q1 2019: Q1, effects are short-lived, and, average, minor source variations macro time series, over 10 quarters. This evidence suggests that main output...

a characteristic of data envelopment analysis (dea) is to allow individual decision making units (dmus) to select the factor weights which are the most advantageous for them in calculating their efficiency scores. this flexibility in selecting the weights, on the other hand, deters the comparison among dmus on a common base. for dealing with this difficulty and assessing all the dmus on the sam...