This paper follows Jones (2005) in his approach to deriving the global production function from microfoundations. His framework is generalized by allowing for dependence between the Pareto distributions of laborand capital-augmenting developments. Using the Clayton copula family to capture this dependence, we derive a “Clayton-Pareto” class of production functions that nests both the Cobb-Dougl...

This paper follows Jones (2005) in his approach to deriving the global production function from microfoundations. His framework is generalized by allowing for dependence between the Pareto distributions of laborand capital-augmenting developments. Using the Clayton copula family to capture this dependence, we derive a “Clayton-Pareto” class of production functions that nests both the Cobb-Dougl...

Abstract The lognormal distribution is commonly used to characterize the aleatory variability of ground-motion prediction equations (GMPEs) in probabilistic seismic hazard analysis (PSHA). However, this approach often leads results without actual physical meaning at low exceedance probabilities. In paper, we discuss how calculate PSHA with a probability. Peak ground acceleration records from NG...

Abstract: A binary operator ∗ over real numbers is said to be associative if (x ∗ y) ∗ z = x ∗ (y ∗ z) and is said to be reducible if x ∗ y = x ∗ z or y ∗w = z ∗w if and only if z = y. The operation is said to have an identity element ẽ if x ∗ ẽ = x. In this paper a characterization of a subclass of the reversed generalized Pareto distribution (Castillo and Hadi (1995)) in terms of the reversed...