We present a model of optimal intervention in a flight to quality episode. The reason for intervention stems from a collective bias in agents' expectations. Agents in the model make risk management decisions with incomplete knowledge. They understand their own shocks, but are uncertain of how correlated their shocks are with systemwide shocks, treating the latter uncertainty as Knightian. We sh...

introduction: herpes labialis is important in dentistry because of its high prevalence. herpes simplex virus (hsv) is responsive to treatment and infection control methods help protect patients and dental personnel. due to high levels of stress in the flight crew this study evaluated the prevalence of recurrent herpes labialis in the personnel of an airline company. materials and methods: in th...

in this paper a new guidance technique for ballistic missiles and launch vehicles is proposed. generally the lambert guidance is used to generate missile nominal (correlated) parameters through powered flight to put it in a ballistic flight path. because of uncertainties and undesired factors, the nominal position and velocity obtained by lambert technique need to be followed in actual flight. ...

We present a model of flight to quality episodes that emphasizes financial system risk and the Knightian uncertainty surrounding these episodes. In the model, agents are uncertain about the probability distribution of shocks in markets different from theirs, treating such uncertainty as Knightian. Aversion to this uncertainty generates demand for safe financial claims. It also leads agents to r...

Concerns have been expressed that in a global market place with mobile capital, national governments will have incentives to set weak environmental policies (“environmental dumping”) to protect the international competitiveness of their domestic firms, that these incentives are particularly strong in industries where plants may be relatively footloose, so that governments are concerned to preve...

International Monetary Fund (IMF) programmes are thought to function as a seal of approval to international markets although evidence suggests that Fund programmes do not attract capital inflows. Existing studies fail to address the effects of selection into IMF programmes, which raises questions about the robustness of the findings. Correcting for selection bias, I find that states under Fund ...

Fecundity is affected by changes in the nutritional and energetic environment, as a result of changes in acquisition, assimilation, or allocation of macro-nutrients and micro-nutrients. Stable isotopes of carbon and nitrogen offer a window into the processes underlying these changes. In insects that feed on nectar as adults, carbon isotopes can be used to trace allocation of carbon to eggs from...

The paper investigates the effects of international trade in goods and capital movement on the productivity distribution and industry-wide productivity when countries are heterogeneous in the quality of their financial institutions. In autarky, firm heterogeneity in their productivities arises in countries with poor financial institutions, while all firms adopt a high-productivity technology in...