We study the mechanisms according to which social infrastructure influences the preservation of physical capital and, consequently, economic growth. The presented model considers that social infrastructure is a specific type of human capital, which acts in order to preserve already existing physical capital, by, e.g. reducing the incentive for rent seeking or corruption. Using an innovative met...

This paper provides a solution to the stability puzzle (Evans and McGough [11]): indeterminacy almost always implies expectational unstability in reduced-form real business cycle (RBC) models. After relaxing the restrictions on the magnitude of capital externalities with CobbDouglas technology, we nd regions for joint indeterminacy and E-stability in the following cases that i) the felicity fun...

We study the competitive equilibrium of a market for votes where the choice is binary and it is known that a majority of the voters supports one of the two alternatives. Voters can trade votes for a numeraire before making a decision via majority rule. We identify a sufficient condition guaranteeing the existence of an ex ante equilibrium. In equilibrium, only the most intense voter on each sid...

The valorization of Fe-rich fayalite slag (FS) as a precursor for alkali-activated materials (AAMs) is hampered by its low reactivity at ambient temperature. Here, FS was blended with waste-based reactive co-binders such ladle (LS) and blast furnace (BFS) to improve the fresh hardened state properties AAMs potential construction applications. results showed that incorporation LS BFS an addition...

We study how asymmetric information a¤ects market volatility in a linear setup where the outcome is determined by forecasts about this same outcome. The unique rational expectations equilibrium will be stable when it is the only rationalizable solution. The literature has established that stability is obtained when the sensitivity of the outcome to agents’ forecasts is less than 1, provided tha...

The crystal structure of a previously unreported polymorph (form II) of 2,4-dinitro-phenyl-hydrazine (DNPH), C6H6N4O4, was determined at 90 K. The first polymorph (form I) is described in the monoclinic space group P21/c [Okabe et al. (1993 ▶). Acta Cryst. C49, 1678-1680; Wardell et al. (2006 ▶). Acta Cryst. C62, o318-320], whereas form II is in the monoclinic space group Cc. The mol-ecular str...

We study an endowment economy with complete markets and heterogeneous agents that do not have rational expectations, but form their beliefs using adaptive learning algorithms that may differ across individuals. We show that market completeness allows agents to smooth consumption across states of nature, but not across time, and that the initial wealth distribution is not enough to pin down the ...

We introduce adaptive learning behavior into a general equilibrium lifecycle economy with capital accumulation. Agents form forecasts of the rate of return to capital assets using least squares autoregressions on past data. We show that, in contrast to the perfect foresight dynamics, the dynamical system under learning possesses equilibria characterized by persistent excess volatility in return...

Augmenter of liver regeneration (ALR; hepatopoietin) is a recently discovered enigmatic flavin-linked sulfhydryl oxidase. An N-terminal His-tagged construct of the short form of the human protein has been overexpressed in Escherichia coli. Several lines of evidence suggest that, contrary to a recent report, human ALR is a disulfide-bridged dimer (linked via C15-C124) with two free cysteine resi...