In 1981, Paris and Wilkie [21] indicated it was an open question whether IΣ0 would satisfy the Second Incompleteness Theorem for Herbrand deduction. We will show that IΣ0 will both obey and defy the Herbrandized version of the Second Incompleteness Theorem, depending on which of several equivalent definitions of IΣ0 one examines.

The behavior of investment by Mexican manufacturing firms is analyzed for the period 1984-1999, which can be characterized by several structural changes, i.e. financial liberalization, the re-privatization of commercial banks, significantly reduced the financing needs of the public sector, and an almost complete freezing of bank intermediation after the 1994 financial crisis. Standard investmen...

I analyze the rm's decision of how much general but informal training to provide in the presence of on-the-job search. In particular, due to lack of formal measure and commitment technology on the training intensity, I assume that rms exibly adjust their training intensity at any time, but hardly charge the cost of training to their workers. Even without any contractual agreement on training, r...

Production function estimation on micro data suffers from persistent unobserved shocks that vary within firms and cause bias. This paper presents an estimation model where the firm chooses capital investment and productivityrelevant intangible assets in response to market conditions under partly fixed adjustment costs. Estimation on Brazilian manufacturing firm data suggests that (i) firms’ uno...

In an economy with multiple consumption goods (including environmental amenities) that uniquely maximises the present value of utility with constant discounting, constant or falling augmented green net national product, or zero or negative augmented net investment, at any time implies that the economy is unsustainable then. "Augmented" means that time is treated as a productive stock, so augmen...

The capital-intensive production function of mining tends to limit backward, forward and final demand linkages. Moreover, the impact of the capital intensity constraint on backward linkage is reinforced by the existence of localization economies for input supplies. These constraints on linkage are stronger the remoter the mine location, the earlier the stage in the mining cycle and the lower th...

The use of renewable energy sources is imposed as an imperative for the competitiveness and stable policy companies. basic production equipment in "Kreka" coal mine Tuzla has electrical plants with a total peak load 12 MW, costs exceed €3.5 million annually. paper analyzes suitability infrastructure facilities devastated areas Kreka Coal Mine construction photovoltaic power effects such plants....

This study investigates whether personal taxes are related to asset valuations. The effective tax rate of investment income fluctuated considerably since federal income taxes were introduced. The main result of the paper demonstrates that there is an economically and statistically significant relationship between asset valuations and personal tax rates. Stock valuations tend to be higher when t...