In Evans, Guse, and Honkapohja (2008) the intended steady state is locally but not globally stable under adaptive learning, and unstable deflationary paths can arise after large pessimistic shocks to expectations. In the current paper a modified model is presented that includes a locally stable stagnation regime as a possible outcome arising from large expectation shocks. Policy implications ar...

This paper reviews several aspects of liquid jet impingement cooling, focusing on research done in our lab at MIT. Free surface, circular liquid jet are considered. Theoretical and experimental results for the laminar stagnation zone are summarized. Turbulence effects are discussed, including correlations for the stagnation zone Nusselt number. Analytical results for downstream heat transfer in...

The evolution of economies during the major portion of human history was marked by Malthusian Stagnation. The transition from an epoch of stagnation to a state of sustained economic growth has shaped the contemporary world economy and has led to the Great Divergence in income per capita across the globe in the past two centuries. This entry examines the process of development over the course of...

An approximate method for the eecient calculation of stagnation streamline quantities in hypersonic ows about spheres or cylinders is suggested. Based on the local similarity of the ow eld the two-dimensional Navier-Stokes equations are simpliied to a one-dimensional approximation for the stagnation streamline. The dimensionally reduced equations are solved with an implicit nite-volume scheme. ...