scholarly journals Understanding the Role of Time-Varying Unobserved Ability Heterogeneity in Education Production

2014 ◽  
Author(s):  
Weili Ding ◽  
Steven Lehrer
Keyword(s):  
Time Varying ◽  
Education Production ◽  
Unobserved Ability

scholarly journals Collective or Individual? What Types of Tourism Reduce Economic Inequality in Peripheral Regions?

2021 ◽  
Vol 13 (9) ◽  
pp. 4898
Author(s):  
Andrzej Tucki ◽  
Korneliusz Pylak
Keyword(s):  
Peripheral Region ◽  
Time Varying ◽  
Tourism Impacts ◽  
Economic Distress ◽  
Regional Inequalities ◽  
Local Agriculture ◽  
Northeastern Poland ◽  
Per Capita ◽  
The Impact

Regional inequalities are a major concern for governments and policymakers. There is no doubt that tourism impacts the reduction of inequalities, but this impact is not entirely clear. We consider this ambiguity to be related to both the level of study and type of accommodation. In the present study, we examine the inequality level measured by the Gini coefficient in 108 municipalities of the peripheral region of northeastern Poland from 2009 to 2018. We employ a directional spillover index to measure the impact of two accommodation types on tax incomes per capita. The empirical results indicate that collective accommodation-based tourism only reduced inequality during the financial crisis, while individual accommodation-based tourism started to reduce inequality from 2014, when Russian sanctions hit local agriculture and businesses. These results indicate that the role of accommodation types is time-varying and evident in measuring economic distress during and after shocks.

scholarly journals Millimeter (MM) wave and microwave frequency radiation produce deeply penetrating effects: the biology and the physics

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Martin L. Pall
Keyword(s):  
Magnetic Fields ◽  
Electric Fields ◽  
Cardiac Activity ◽  
Maximum Level ◽  
Voltage Sensor ◽  
The Body ◽  
Time Varying ◽  
The Brain ◽  
Mm Waves

Abstract Millimeter wave (MM-wave) electromagnetic fields (EMFs) are predicted to not produce penetrating effects in the body. The electric but not magnetic part of MM-EMFs are almost completely absorbed within the outer 1 mm of the body. Rodents are reported to have penetrating MM-wave impacts on the brain, the myocardium, liver, kidney and bone marrow. MM-waves produce electromagnetic sensitivity-like changes in rodent, frog and skate tissues. In humans, MM-waves have penetrating effects including impacts on the brain, producing EEG changes and other neurological/neuropsychiatric changes, increases in apparent electromagnetic hypersensitivity and produce changes on ulcers and cardiac activity. This review focuses on several issues required to understand penetrating effects of MM-waves and microwaves: 1. Electronically generated EMFs are coherent, producing much higher electrical and magnetic forces then do natural incoherent EMFs. 2. The fixed relationship between electrical and magnetic fields found in EMFs in a vacuum or highly permeable medium such as air, predicted by Maxwell’s equations, breaks down in other materials. Specifically, MM-wave electrical fields are almost completely absorbed in the outer 1 mm of the body due to the high dielectric constant of biological aqueous phases. However, the magnetic fields are very highly penetrating. 3. Time-varying magnetic fields have central roles in producing highly penetrating effects. The primary mechanism of EMF action is voltage-gated calcium channel (VGCC) activation with the EMFs acting via their forces on the voltage sensor, rather than by depolarization of the plasma membrane. Two distinct mechanisms, an indirect and a direct mechanism, are consistent with and predicted by the physics, to explain penetrating MM-wave VGCC activation via the voltage sensor. Time-varying coherent magnetic fields, as predicted by the Maxwell–Faraday version of Faraday’s law of induction, can put forces on ions dissolved in aqueous phases deep within the body, regenerating coherent electric fields which activate the VGCC voltage sensor. In addition, time-varying magnetic fields can directly put forces on the 20 charges in the VGCC voltage sensor. There are three very important findings here which are rarely recognized in the EMF scientific literature: coherence of electronically generated EMFs; the key role of time-varying magnetic fields in generating highly penetrating effects; the key role of both modulating and pure EMF pulses in greatly increasing very short term high level time-variation of magnetic and electric fields. It is probable that genuine safety guidelines must keep nanosecond timescale-variation of coherent electric and magnetic fields below some maximum level in order to produce genuine safety. These findings have important implications with regard to 5G radiation.

scholarly journals Dynamic Signaling with Dropout Risk

2016 ◽  
Vol 8 (1) ◽  
pp. 57-82 ◽  
Author(s):  
Francesc Dilmé ◽  
Fei Li
Keyword(s):  
Time Varying ◽  
High Quality ◽  
Indivisible Good ◽  
Initial Belief ◽  
Costly Delay ◽  
Over Time

We study the role of dropout risk in dynamic signaling. A seller privately knows the quality of an indivisible good and decides when to trade. In each period, he may draw a dropout shock that forces him to trade immediately. To avoid costly delay, the seller with a low-quality good voluntarily pools with early dropouts, implying that the expected quality of the good increases over time. We characterize the time-varying equilibrium trading dynamics. It is demonstrated that the maximum equilibrium delay of trade is decreasing in the initial belief that the good is of high quality. (JEL C73, D82, D83)

scholarly journals U.S. TREND INFLATION REINTERPRETED: THE ROLE OF FISCAL POLICIES AND TIME-VARYING NOMINAL RIGIDITIES

2014 ◽  
Vol 19 (6) ◽  
pp. 1294-1308 ◽  
Author(s):  
Nicola Acocella ◽  
Giovanni Di Bartolomeo ◽  
Patrizio Tirelli
Keyword(s):  
Strong Impact ◽  
Fiscal Policies ◽  
Time Varying ◽  
Nominal Rigidities ◽  
Distortionary Taxation ◽  
Trend Inflation ◽  
Wage Indexation ◽  
Joint Evolution

This paper offers a reinterpretation of the Fed's time-varying implicit inflation target, based on two considerations. The first is that the need to alleviate the burden of distortionary taxation may justify the choice of a positive inflation rate. The second is based on compelling evidence that the degree of price and wage indexation falls with trend inflation. In fact, we find that a proper characterization of the joint evolution of fiscal variables and nominal rigidities has a strong impact on the Ramsey optimal policies, implying optimal inflation dynamics that are consistent with the observed evolution of U.S. trend inflation. By contrast, tax policies have been too lax, especially at the time of the controversial Bush tax cuts.

THE INTERNATIONAL IMPACT OF MACROPRUDENTIAL POLICIES

2021 ◽  
Author(s):  
Doriane Intungane
Keyword(s):  
Equilibrium Model ◽  
Capital Requirements ◽  
Dynamic Stochastic General Equilibrium ◽  
Time Varying ◽  
Credit Growth ◽  
Cross Border ◽  
Macroprudential Policies ◽  
Dynamic Stochastic ◽  
The Impact

The recent financial crisis started a global debate on the role of financial policies, which led to financial system reforms in many countries. These reforms mainly consisted of increasing the usage of macroprudential policies. This dissertation seeks to understand whether macroprudential policies in financially integrated countries reduced their vulnerability to the impact of external shocks. Chapter 2 empirically examines the impact of macroprudential policies on cross-border bilateral credit growth. Capital requirements and loan-to-value (LTV) ratios, in 15 lending countries and 34 borrowing countries between 2000 and 2014, are used in the analysis. The results show that in some countries, the increase of capital requirements is not effective in reducing international credit flows during periods of financial vulnerability. The impact of tightening LTV ratios is more heterogeneous across countries because LTV ratios are mainly used in the housing sector and not all countries change their LTV ratio frequently. Hence, cooperation across countries is necessary but also countries should make sure that the change of macroprudential policies targeting lenders and those targeting borrowers complement each other to avoid international leakages. Chapter 3 analyzes issues related to the international spillover of macroprudential policies through international banking activities using a two-country dynamic stochastic general equilibrium model with heterogeneous and time-varying macroprudential policies. The results show that a combination of capital requirements and LTV ratios is effective in reducing credit growth despite the existence of cross-border banking activities and heterogeneous implementation of capital requirements across countries. In addition, international coordination of capital requirements is also effective in reducing credit growth but less effective than a combination of capital requirements and LTV ratios. Chapter 4 focuses on the role of countercyclical LTV ratios in reducing transmission of shocks when international investors, holding domestic and foreign assets, face collateral constraint. Using a two-country dynamic stochastic general equilibrium model, the analysis demonstrates that time-varying LTV ratios can reduce the transmission of shocks.

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