International Integration, Risk and the Welfare State How does international integration affect the welfare state? Does it call for a leaner or an expanded welfare state? International integration may affect the distortions caused by welfare state activities but also the risks motivating social insurance mechanisms. This paper addresses these potentially counteracting effects in a fully specifi...

Glass is widely used for the manufacture of facades and interior glazing buildings. structures are subject to high fire safety requirements. Two methods employed in this work: experimental studies small-sized large-sized samples simulations heating glass structures. The results showed that monolithic tempered glass, with dimensions 4250 × 2000 8 mm 3000 8, were inserted a steel frame, if proper...

We develop a multi-sector sticky-price DSGE model that can endogenously deliver differential responses of prices to aggregate and sectoral shocks. Input-output production linkages induce across-sector pricing complementarities that contribute to a slow response of prices to aggregate shocks. In turn, labor-market segmentation at the sectoral level induces within-sector pricing substitutability,...

In the aftermath of the nancial crisis, the role of monetary policy and macro-prudential regulation in promoting nancial stability is under discussion. The old debate concerning whether monetary policy should respond to credit and asset price bubbles was revived, whereas macro-prudential regulation is being assessed as an alternative macroeconomic tool to deal with nancial imbalances. The paper...

Background and Purpose—The purpose of this study was to report the detection of infarcts of the cerebral cortex in a patient with cerebral autosomal-dominant arteriopathy with subcortical infarcts and leukoencephalopathy (CADASIL) using high-resolution postmortem 7-T MRI in association with pathological examination. Methods—Whole brain high-resolution MRI data were obtained postmortem at 7 T in...

Quantification techniques are popular methods in empirical research for aggregating the qualitative predictions at the microlevel into a single figure. In this paper, we analyze the forecasting performance of various methods that are based on the qualitative predictions of financial experts for major financial variables and macroeconomic aggregates. Based on the Centre of European Economic Rese...

Drifter and satellite data are assimilated into a circulation model that hindcasts near-surface currents in the Northeastern Gulf of Mexico. Experiments without assimilation, and using assimilation of drifter, satellite sea-surface height (SSH) and sea-surface temperature (SST) data, in various combinations, were conducted. Currents derived from these experiments were used to compute drifter tr...

We show that a one-sector real business cycle model with mild increasing returns-to-scale, variable capital utilization and saddle-path stability is able to produce qualitatively realistic business cycles driven solely by disturbances to government purchases. Due to an endogenous increase in labor productivity, a positive spending shock can lead to simultaneous increases in output, consumption,...

We study a model of firm price setting with customer markets and empirically evaluate its predictions. Our framework captures the dynamics of customers in response to a change in the price set by firms, describes the behavior of optimal prices in the presence of customer retention concerns, and delivers a general equilibrium model of price and customer dynamics. We exploit micro data on purchas...

This paper empirically measures the integration of the asset market of commercial real estate by studying the respective explanatory power of three types of variables – macroeconomic conditions, local market conditions, and property attributes – for property transaction cap rates. Results from analyzing about 10,000 sales of institutional grade commercial properties from 1977 to 2012 indicate t...