This paper uses a risk-shifting model to analyze policy responses asset price booms. We show risk shifting leads inefficient and credit booms in which prices can exceed fundamentals. However, the inefficiencies associated with arise independently of whether is bubble. Given evidence shifting, policymakers may not need determine if assets are bubbles justify intervention. then that some main can...

Changes in global development benchmarks, the gradual depletion of natural resources, as well climatic changes are forcing economic actors around world to look for alternative methods energy production. The transition them can be difficult due high cost produced and pressure from states corporations specializing extraction classical sources. article is devoted study renewable energy. uses a sta...

Immunotoxins were made using five different murine monoclonal antibodies to the human erbB2 gene product and LysPE40, a 40-kDa recombinant form of Pseudomonas exotoxin (PE) lacking its cell-binding domain. All five conjugates were specifically cytotoxic to cancer cell lines overexpressing erbB2 protein. The most active conjugate was e23-LysPE40, generated by chemical crosslinking of anti-erbB2 ...

Although initially originated as a totally empirical relationship to explain the volume of trade between two partners, gravity equation has been the focus of several theoretic models that try to explain it. Specialization models are of great importance in providing a solid theoretic ground for gravity equation in bilateral trade. Some research papers try to improve specialization models by addi...

This paper provides clear cut evidence that the slope and curvature factors of the yield curve contain more information about future changes in economic activity than the term spread alone, often used in practice as an indicator of future economic conditions. These two factors constitute independent sources of information about future economic activity, which are o¤set to each other in term spr...

Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history shocks, what economists refer to as “hysteresis,” argues for unifying analysis cycles. In this paper, we review recent empirical theoretical literature that motivates paradigm shift. The renewed interest in hysteresis (or “scarring” parlance) has sparked by pe...

La necesidad de energía la población ha originado con el paso los años problemas contaminación ambiental asociados al uso combustibles origen fósil. bioenergía es una alternativa que diversos países han propuesto para disminuir volumen gases contaminantes a atmósfera; biodiésel y bioetanol son presentan mayores ventajas comerciales en mundo, aparte necesarios cumplimiento acuerdos internacional...

This study is focusing on elucidation of the capacity of attenuated Salmonella enteritidis E23 (cya, crp) to serve as a vehicle for the rectal delivery of the DNA vaccine. Earlier for creation HIV-1 candidate DNA vaccine we have designed the polyepitope protein TCI (T-cell immunogen), which comprises over 80 CTL epitopes from subtype A, B and C HIV-1 proteins. The gene coding for TCI protein wa...

This paper examines the existence and nature of equilibria and balanced growth paths in the Uzawa-Lucas two-sector endogenous growth model with elastic labor supply. We demonstrate that it is not possible to merely insert a labor-leisure choice into the model, as has occasionally been done in in the past— the resulting …rst order conditions for the representative agent violate the Pontyagrin ma...

This paper develops a simple accounting framework that measures the effect of resource misallocation on aggregate productivity. This framework is based on a multi-sector general equilibrium model with sector-specific frictions in the form of taxes on sectoral factor inputs. This framework is flexible for demand side assumptions such as preference and aggregate production function. Moreover, thi...