Large Excess Reserves in the U.S.: A View from the Cross-Section of Banks

Author(s):  
Huberto M. Ennis ◽  
Alexander L. Wolman
Econometrica ◽  
2021 ◽  
Vol 89 (2) ◽  
pp. 703-732
Author(s):  
Ezra Oberfield ◽  
Devesh Raval

We develop a framework to estimate the aggregate capital‐labor elasticity of substitution by aggregating the actions of individual plants. The aggregate elasticity reflects substitution within plants and reallocation across plants; the extent of heterogeneity in capital intensities determines their relative importance. We use micro data on the cross‐section of plants to build up to the aggregate elasticity at a point in time. Interpreting our econometric estimates through the lens of several different models, we find that the aggregate elasticity for the U.S. manufacturing sector is in the range of 0.5–0.7, and has declined slightly since 1970. We use our estimates to measure the bias of technical change and assess the decline in labor's share of income in the U.S. manufacturing sector. Mechanisms that rely on changes in the relative supply of factors, such as an acceleration of capital accumulation, cannot account for the decline.


Author(s):  
V. Mizuhira ◽  
Y. Futaesaku

Previously we reported that tannic acid is a very effective fixative for proteins including polypeptides. Especially, in the cross section of microtubules, thirteen submits in A-tubule and eleven in B-tubule could be observed very clearly. An elastic fiber could be demonstrated very clearly, as an electron opaque, homogeneous fiber. However, tannic acid did not penetrate into the deep portion of the tissue-block. So we tried Catechin. This shows almost the same chemical natures as that of proteins, as tannic acid. Moreover, we thought that catechin should have two active-reaction sites, one is phenol,and the other is catechole. Catechole site should react with osmium, to make Os- black. Phenol-site should react with peroxidase existing perhydroxide.


Author(s):  
Tamotsu Ohno

The energy distribution in an electron; beam from an electron gun provided with a biased Wehnelt cylinder was measured by a retarding potential analyser. All the measurements were carried out with a beam of small angular divergence (<3xl0-4 rad) to eliminate the apparent increase of energy width as pointed out by Ichinokawa.The cross section of the beam from a gun with a tungsten hairpin cathode varies as shown in Fig.1a with the bias voltage Vg. The central part of the beam was analysed. An example of the integral curve as well as the energy spectrum is shown in Fig.2. The integral width of the spectrum ΔEi varies with Vg as shown in Fig.1b The width ΔEi is smaller than the Maxwellian width near the cut-off. As |Vg| is decreased, ΔEi increases beyond the Maxwellian width, reaches a maximum and then decreases. Note that the cross section of the beam enlarges with decreasing |Vg|.


2009 ◽  
Author(s):  
Marci Culley ◽  
Holly Angelique ◽  
Courte Voorhees ◽  
Brian John Bishop ◽  
Peta Louise Dzidic ◽  
...  

The work of multilayer glass structures for central and eccentric compression and bending are considered. The substantiation of the chosen research topic is made. The description and features of laminated glass for the structures investigated, their characteristics are presented. The analysis of the results obtained when testing for compression, compression with bending, simple bending of models of columns, beams, samples of laminated glass was made. Overview of the types and nature of destruction of the models are presented, diagrams of material operation are constructed, average values of the resistance of the cross-sections of samples are obtained, the table of destructive loads is generated. The need for development of a set of rules and guidelines for the design of glass structures, including laminated glass, for bearing elements, as well as standards for testing, rules for assessing the strength, stiffness, crack resistance and methods for determining the strength of control samples is emphasized. It is established that the strength properties of glass depend on the type of applied load and vary widely, and significantly lower than the corresponding normative values of the strength of heat-strengthened glass. The effect of the connecting polymeric material and manufacturing technology of laminated glass on the strength of the structure is also shown. The experimental values of the elastic modulus are different in different directions of the cross section and in the direction perpendicular to the glass layers are two times less than along the glass layers.


CFA Digest ◽  
2008 ◽  
Vol 38 (3) ◽  
pp. 55-56
Author(s):  
Kathryn Dixon Jost

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