We propose a dynamic structural corporate model in which firms face imperfect capital markets and frictional product markets. We highlight the importance of the endogeneity of firms’ short-term cash flows and the endogeneity of the marginal value of liquidity in determining the interactions between investment, financing and product price setting decisions. Our primary goal is to develop a finan...

We compare two ways of modeling Calvo-type wage stickiness. One in which each household is the monopolistic supplier of a differentiated type of labor input (as in Erceg, et al., 2000) and one in which households supply a homogenous labor input that is transformed by monopolistically competitive labor unions into a differentiated labor input (as in Schmitt-Grohé and Uribe, 2006a,b). We show tha...

In living cells, functional protein-protein interactions compete with a much larger number of nonfunctional, or promiscuous, interactions. Several cellular properties contribute to avoiding unwanted protein interactions, including regulation of gene expression, cellular compartmentalization, and high specificity and affinity of functional interactions. Here we investigate whether other mechanis...

In fluids and plasmas with zonal flow reversed shear, a peculiar kind of transport barrier appears in the shearless region, one that is associated with a proper route of transition to chaos. These barriers have been identified in symplectic nontwist maps that model such zonal flows. We use the so-called standard nontwist map, a paradigmatic example of nontwist systems, to analyze the parameter ...

Abstract Adhesion between an elastic body and a smooth, rigid substrate can lead to large tensile stresses them. However, most macroscopic objects are microscopically rough, which strongly suppresses adhesion. A fierce debate has unfolded recently as whether local or global parameters determine the crossover small Here, we report simulations revealing that dependence of pull-off force F n on su...

The residential house management institute consists of a complex design involving legal entities such as apartment owners who own certain number alleged parts the house, land owner, manager, different service providers, engineering providers etc., which leads to responsibilities imposed by law on parties concerned, rights and that need be respected.

We provide a simple model of sticky nominal debt contracts and fixed rate debt that can easily be embedded in a dynamic general equilibrium framework. Once linearised, the debt process increases the order of autoregressive dynamics in the system by one; thus potentially introducing more complex adjustment processes. Keywords: nominal debt; dynamic general equilibrium. JEL Classifications: E30, ...

Several macroeconomic models of business cycles rely on the assumption that …rms adjust prices infrequently to generate the short-run non-neutrality of money documented by the literature on monetary transmission. These models posit di¤erent mechanisms to generate price stickiness, with correspondingly di¤erent implications for in‡ation dynamics. While empirical implications regarding the respon...