Using a normalized CES function with factor-augmenting technical progress, we estimate a supply-side system of the US economy from 1953 to 1998. Avoiding potential biases that have occurred in earlier estimations and putting a high emphasis on the consistency of the data set, required by the estimated system, we obtain robust results not only for the aggregate elasticity of substitution but als...

I study detailed data from eleven automobile assembly plants. These data display considerable cross-plant heterogeneity in production scheduling. To explain the observed heterogeneity, I solve a dynamic programming model. When desired production is below the plant's minimum e$cient scale, non-convexities induce production bunching; the plant uses less than full capital utilization on average an...

Although FDI is widely believed to have a positive effect on economic growth, the exact mechanism of how FDI impacts upon the development process of the newly industrialising economies is far from being well understood. This paper presents and tests two propositions on the role of FDI in economic growth from a newly industrialising economy’s perspective. First, FDI is a mover of production effi...

By means of so-called virtual or shadow prices, short-run factor demands, short-run marginal costs, etc. can be derived from any long-run cost function. The traditional approach (short-run/restricted/conditional/variable cost functions) is criticized, and it is also shown that technological change, scale e!ects, etc. can be added to any cost function by means of disembodied factor-augmenting e$...

The article examines the spillover effect of transition to renewable energy on different financial markets: specifically, stock market. research paper analyzes prices and dynamics oil-related assets funds, as well reviews literature topic in order evaluate most important factors development these industries. utilizes methods correlation analysis, analysis variance, regression standards deviatio...

We study supply and demand shocks in a disaggregated model with multiple sectors, factors, input-output linkages, downward nominal wage rigidities, credit-constraints, zero lower bound. use the to understand how COVID-19 crisis, an omnibus shock, affects output, unemployment, inflation, leads coexistence of tight slack labor markets. show that negative sectoral are stagflationary, whereas defla...

At the onset of Drosophila metamorphosis, the steroid hormone 20-OH ecdysone directly induces a small number of early puffs in the polytene chromosomes of the larval salivary gland. Proteins encoded by the early genes corresponding to these transcriptional puffs then regulate the activity of both the early puffs themselves and a much larger set of late puffs. Three of these early genes encode t...

The goal of this study was to characterize the transcriptome of primary bovine mammalian epithelial cells (pBMECs) and to identify candidate genes for response and resistance to Staphylococcus aureus (strain S108), Escherichia coli (strain E23), and Klebsiella pneumoniae (strain K96) infection. Using Solexa sequencing, approximately 4.9 million total sequence tags were obtained from each of the...

This paper quantifies how international trade affects CO2 emissions and analyzes the welfare consequences of regulating the CO2 emissions from shipping. To this end the paper describes a model of trade and the environment, compiles new data on the CO2 emissions from shipping, and estimates key parameters using panel data regressions. Results show that the benefits of international trade exceed ...

This paper uses panel Granger causality tests to study the relationship between sector specific FDI and CO2 emissions. Using a sample of 18 Latin American countries for the 1980-2007 period, we find causality running from FDI in polluting intensive industries (“the dirty sector”) to CO2 emissions per capita. This result is robust to controlling for other factors associated with CO2 emissions an...