In the early years of macroeconomics as a discipline, the liquidity trap-that awkward condition in which monetary policy loses its grip because the nominal interest rate is essentially zero, in which the quantity of money becomes irrelevant because money and bonds are essentially perfect substitutes-played a central role. Hicks (1937), in introducing both the IS-LM model and the liquidity trap,...

This paper investigates how monetary policy can help to avoid the liquidity trap by studying the experience of Japan. First, I analyze how the Bank of Japan conducted interest rate policy over the 1990s as the economy entered a deflationary slump. I use a new method of estimating the policy rule with a time-varying inflation target and a time-varying natural rate of interest. The estimation str...

in this research, 210 concrete cube specimens (15cm) were made replacing 0, 5, 10, 15, 20, 25, 30, 35, 40, 50, and 60 percent of slag powder from isfahan steel mill for cement. the control specimens were made with 350 kg/m3 cement content and the water cement ratio in all specimens was 0.51. the slump value and compressive strength of concrete specimens in 7, 28 and 90 days were obtained and th...

In Asia, many activities of daily living (ADL) are performed while sitting cross-legged on the floor. This sitting posture rotates the pelvis in a more dorsal direction and lumbar lordosis is more flattened than while sitting on a chair. Sitting cross-legged induces a greater load on the intervertebral discs and spine, especially when in a slumped position that is known to increase disc pressur...

In this research, 210 concrete cube specimens (15cm) were made replacing 0, 5, 10, 15, 20, 25, 30, 35, 40, 50, and 60 percent of slag powder from Isfahan Steel Mill for cement. The control specimens were made with 350 kg/m3 cement content and the water cement ratio in all specimens was 0.51. The Slump value and compressive strength of concrete specimens in 7, 28 and 90 days were obtained and th...

We study the relationship between domestic-demand shocks and exports using data for Spanish manufacturing firms in 2002–2013. Exploiting plausibly exogenous geographical variation caused by Great Recession, we find that whose domestic sales declined more experienced a larger increase export flows, controlling firms’ supply determinants. This result illustrates capacity of markets to counteract ...

ing children to decode (that is, turn print into speech sounds), it’s disheartening that we still have not overcome the “fourth-grade slump” in reading comprehension. We’re finding that even though the vast majority of our youngest readers can manage simple texts, many students—particularly those from low-income families—struggle when it comes time in grade four to tackle more advanced academic...