ion Objective Semantics

Aggregate statistics readily indicate why so many observers of financial markets in the United States are concerned about the balance between debt and equity in the corporate financial decision. Exceeding zero in most years before 1984, net equity issues by U.S. nonfinancial corporations have been negative in each year since. Net redemptions averaged approximately $80 billion annually during th...

Simulating a realistic-sized equity premium in macroeconomic models has proved a daunting challenge, hence the “equity premium puzzle”. “Resolving” the puzzle requires heavy lifting. Precise choices of particular preferences, shocks, technologies, and hard borrowing constraints can do the trick, but haven’t stopped the search for a simpler and more robust solution. This paper suggests that soft...

It is often argued that borrowing constraints are crucial to the understanding of entrepreneurial activity in the United States. However, portfolio data and calibration exercises raise doubts about the importance of borrowing constraints. This thesis provides three chapters on the subject of entrepreneurship, two study the role of borrowing constraints and another shows that introducing uncerta...

In this paper, a fuzzy-based dynamic channel-borrowing scheme (FDCBS) is presented to maximize the number of served calls in a distributed wireless cellular network. The uneven traffic load may create hot-spot cells and possibly causes a high blocking rate in hot-spot cells. Most conventional methods use load indices with a threshold value to determine the load status of a cell. However, those ...

The Rust programming language provides a powerful type system that checks linearity and borrowing, allowing code to safely manipulate memory without garbage collection making ideal for developing low-level, high-assurance systems. For such systems, formal verification can be useful prove functional correctness properties beyond safety. This paper presents Verus, an SMT-based tool formally verif...

The influential papers on the effect of credit constraints on growth and international trade (Rajan and Zingales, 1998; Manova, 2013) tend to assume that asset tangibility and the share of external borrowing are exogenous industry characteristics, which are timeand country-invariant. In the finance literature, however, the share of external borrowing is viewed as endogenous and dependent on the...

This paper develops a firm-dynamics model with heterogenous firms and endogenous currency debt composition to jointly study financing and investment decisions in developing economies. In our model, foreign currency borrowing arises from a trade-off between aggregate deviations from the risk-free uncovered interest rate parity and firms’ growth potential. Crucially, there is crosssectional heter...

OBJECTIVE The purpose of this study was to describe the patterns of prescription medication borrowing and sharing among adults, particularly women of reproductive age. METHODS Data were collected from the 2001-2006 HealthStyles surveys, an annual mail survey conducted in the United States concerning trends in health behavior. The total responses received were 26,566 of 36,420 surveys mailed (...