The influence of UV-radiation on the CO2 assimilation rate of three high mountainous plants (Heracleum lehmannianum Bunge, Prangos pabularia Lind L. and Lathyrus mulkak Lipsky) with different photosynthetic intensity and directivity of photosynthetic carbon metabolism was studied. The investigation was carried out in the Biological Station of The Institute of Plant Physiology and Genetics (Acad...

In this paper we study the effects of transaction costs on asset prices. We assume an overlapping generations economy with two riskless assets. The first asset is liquid while the second asset carries proportional transaction costs. We show that agents buy the liquid asset for short-term investment and the illiquid asset for long-term investment. When transaction costs increase, the price of th...