Durable goods are an important component of the business cycle. Equilibrium models of durable goods markets are made difficult by the lumpy nature of individual purchases. We show that a straight forward approximation of the distribution of durable goods holdings gives rise to a tractable equilibrium model. We analyze the case of competition as well as that of a monopoly producer. J.E.L. Classi...

AIMS The efficacy of durable polymer drug-eluting stents (DES) is delivered at the expense of delayed healing of the stented vessel. Biodegradable polymer DES aim to avoid this shortcoming and may potentially improve long-term clinical outcomes, with benefit expected to accrue over time. We sought to compare long-term outcomes in patients treated with biodegradable polymer DES vs. durable polym...

A durable purchased at time t 2 [0;1) provides a constant service ‡ow x0 in the interval [t; t + 1]. The price of the durable is reduced periodically: it is equal to p = p0=(1 + ) in the period of time [ ; + 1), 2 N, where 0. Assume that the interest rate equal to the rate of time preference: r = . Consider a consumer that at date t = 0 has no durable and a lifetime wealth w. His optimization p...

This paper extends Carroll’s (2006) endogenous grid method and its combination with value function iteration by Barillas and Fernández-Villaverde (2007) to nonconcave problems. The method is illustrated using a consumer problem in which consumers choose both durable and non-durable consumption. The durable choice is discrete and subject to non-convex adjustment costs. The algorithm yields subst...

this paper seeks to investigate a new definition for architecture by unifying the three vitruvian principles of firmitas, utilities, and venustas via a phenomenological approach in the interpretation and analysis of their role in defining architecture. the paper is composed in two main sections. the first section investigates the nature of architecture based on the mentioned principles, where a...

Durability of concrete structure in marine environments is a big issue for many decades due to chloride attack. Chloride penetrates the concrete structure and accelerates the corrosion process of reinforcement which decreases the life of those structures. Also shrinkage cracks in concrete play main role for chloride penetration through concrete surface.  Many researchers tried to find easy and ...

High degree of interest sensitivity of durable goods is now a stylized fact in the literature of monetary policy. This literature, however, does not provide a clear and consensual explanation for the modalities of this stylized fact. In this paper, two independent empirical models are performed to shed more light on the cross-sectoral impacts of monetary policy. The results of first study indic...