Intelligent agents may contribute to higher technological growth, if assigned appropriate positions in the economy. These positive e ects on growth are unlikely to be internalized on a competitive labor market. The allocation of talent depends on the relative award the market assigns to intelligence versus other individual merits, which will also in uence intergenerational social mobility. To i...

To identify critical sediment sources in large catchments, using easily available terrain information at a regionalscale, a methodology was developed to obtain a qualitative assessment necessary for environmental management.Fargas et al method was employed in the research. The study was carried out in one of the sub-basins of Hableh Roodbasin called Dehnamak in the arid and semiarid climate of ...

to identify critical sediment sources in large catchments, using easily available terrain information at a regionalscale, a methodology was developed to obtain a qualitative assessment necessary for environmental management.fargas et al method was employed in the research. the study was carried out in one of the sub-basins of hableh roodbasin called dehnamak in the arid and semiarid climate of ...

The response of household borrowing to changes in the interest rate is a crucial parameter to understand whether or not monetary policy can promote household investment in housing, and what are the determinants of the consumption durables. We provide an estimate of this response by exploiting a reform in a large program in Portugal: “Credito BoniÞcado” (CB). The CB program was launched in 1986 ...

Information frictions are often invoked to explain low levels of international trade beyond those that measured trade frictions (tariffs, transportation costs, etc.) can explain. But to explain why international trade is lower then domestic trade, home firms have to know something that foreigners do not. Without information asymmetry, domestic trade and foreign trade would be inhibited equally....

We give a characterization of the non-empty binary relations  on a N∗-set A such that there exist two morphisms of N∗-sets u1, u2 : A → R+ verifying u1 ≤ u2 and x  y ⇔ u1(x) > u2(y). They are called homothetic interval orders. If  is a homothetic interval order, we also give a representation of  in terms of one morphism of N∗-sets u : A → R+ and a map σ : u(R+) × A → R+ such that x  y ⇔ σ(...

Why do governments so often fail to adopt reforms that economists consider efficiencyenhancing? This is the question addressed in an influential paper by Raquel Fernandez and Dani Rodrik (1991). They argue that one of the reasons is that individual winners and losers of reform can often not be identified beforehand. This individual-specific uncertainty leads to a bias against reform. Before tur...

We study a dynamic economy where credit is limited by insu¢ cient collateral and, as a result, investment and output are too low. In this environment, changes in investor sentiment or market expectations can give rise to credit bubbles, that is, expansions in credit that are backed not by expectations of future pro…ts (i.e. fundamental collateral), but instead by expectations of future credit (...

Background Submaximal exercise is used in the management of muscular dystrophy. The effects of mechanical stimulation on skeletal development are well understood, although its effects on cartilage growth have yet to be investigated in the dystrophic condition. The objective of this study was to investigate the chondrogenic response to voluntary exercise in dystrophin-deficient mice, which exhib...

4 A method to estimate DSGE models using the raw data is proposed. The approach 5 links the observables to the model counterparts via a ‡exible speci…cation which does 6 not require the model-based component to be solely located at business cycle frequen7 cies, allows the non model-based component to take various time series patterns, and 8 permits model misspeci…cation. Applying standard data ...