67 research outputs found
Interaction of trehalose and glucose with a peptide beta-turn in aqueous solution
No full textThe issue of the interaction of carbohydrates with a peptide beta-turn is tackled by investigating at the atomic scale the interaction of glucose and trehalose with an aqueous solution of Glycyl-L-prolyl-glyci namide center dot HCl. The study, performed by neutron diffraction with isotopic substitution augmented by Monte Carlo simulation analysis, evidences clear differences between the two systems. Indeed, while trehalose confines water within the hydration shell of the solute, glucose enters this shell, in competition with water molecules. As a result, the structure of beta-turns in aqueous solution is stretched in presence of glucose as co-solute. This observations may be the key to distinguish the protection mechanism against drought from that against osmotic pressure. (C) 2022 Elsevier B.V. All rights reserved
Tracking boron coordination change with temperature in a barium borosilicate glass melt by neutron diffraction
No full textBoron coordination changes with temperature in a barium borosilicate glass and melt using neutron diffraction
No full textBoroxol ring dissolution in molten and glassy B2O3 by neutron and x-ray diffraction difference methods
No full textOLG 모형과 중국 자료를 사용한 종신연금, 위험 자산, 인적 자본의 최적 투자 결정
No full textIn this article, the author uses an OLG model (overlapping generation model) to study households’ optimal decision on risky assets investment, life annuity, education expenditure, and consumption. It's essential to acknowledge that asset allocation means a lot to household finance especially for China which faces significant constraints due to rapid economic development. And this maybe one of the reasons of China households’ unreasonable investment structure. I am going to discuss the households' demand for the annuity with considering intergenerational transfer payments. In this paper, I incorporate life annuity which actually represents pension into the OLG model which is generally used in the economic field, that describes households' optimization problem on consuming and saving. Then the author could transfer this issue into parent generation’s consumption utility maximization problem and acquire the optimal proportions of investment on risky assets of 1.37%, life annuity accounting for 9.48%, and education of 4.63%, with the savings and the optimal consumption to be remaining parts of expenditure. I also implement the numerical simulation and made the comparative study of the outputs with the actual data of China, also China’s data with United States’ including actual and model simulation result. Furthermore, I did the sensitivity analyzation of each parameter to illustrate the specific interrelation with each other. The results of this research may provide some useful information on the optimal investment structure for risk assets and human capital as well as the future development of annuity market in China.;본 연구에서는 3기간 OLG(Overlapping Generation Model) 모형을 사용하여 종신연금, 위험자산 및 교육비를 대상으로 한 최적 투자 결정을 분석하고자 한다. 생애 주기 동안의 자산 배분은 가장 중요한 가계의 경제적 의사결정이다. 특히 중국의 경우, 급격한 경제 발전에 따른 다양한 제약적 요소가 존재하고 이는 현재 중국 가계의 비합리적인 금융자산 배분의 요인 중 하나로 볼 수 있다. 본 논문에서는 경제성장 연구 분야에서 폭 넓게 사용되는 OLG 모형을 이용하여 종신연금을 중심으로 한 가계의 저축과 소비의 최적화 문제를 부모 세대의 생애 소비의 효용 최대화 문제로 전환하여 해결하고자 한다. 본 연구 결과 위험자산, 종신연금 및 교육비가 소득에서 차지하는 최적 비율은 위험자산 1.37%, 종신연금 9.48%, 교육 투자 4.63%로 측정되었다. 본 연구에서는 중국의 고유한 상황을 고려하여 실제 자료와 모형의 시뮬레이션 결과를 비교 분석하였으며 파라메터의 변화에 따른 다양한 민간도분석도 함께 수행하였다. 본 연구 결과는 중국의 비합리적 가계 지출 구조와 종신연금 산업의 향후 발전에 대하여 유용한 정보를 제공할 수 있을 것이다.I. Introduction 1
A. Status Quo of Households Financial Assets Structure 3
B. Unreasonable Asset Allocation Structure in China 6
C. Research Purpose 10
II. Previous Research 11
A. Overview of Optimal Insurance Decision 12
B. Introduction of Overlapping Generation Model (OLG Model) 16
C. The Innovation Point 19
III. The OLG Model of Risky Assets, Life Annuity and Education 20
A. Parameter Selection 20
1. Risky Asset 21
2. Life Annuity 22
3. Human Capital Investment 23
B. Model Establishment 23
1. Function of Each Parameter 24
2. Parent Generations Utility Maximization 28
3. Optimal Proportion 33
IV. Numerical Simulation and Results Analyzation 38
A. Parameters Data 38
B. Result Interpretation 42
1. Interpretation of the Optimal Proportions 42
2. Sensitivity Analyzation 46
V. Conclusion 54
A. Conclusion and policy recommendations 54
B. Discussion 60
Reference 62
Appendix 72
국문초록 7
Overlapping generations models of monetary economies: Variations on a theme
No full textIt is contended in this thesis that close on the heels of the New Classical Revolution in macroeconomic theory, aided by tools fashioned by the revolutionaries, has come a Keynesian Restoration, under the unlikely auspices of Samuelson's Overlapping Generations Model (OLG).Despite an unconcern with effective demand problems--markets clear, in OLG models, just as in New Classical models--OLG provides a theoretical justification for an activist, fiscalist government policy directed at correcting the inter-temporal misallocation which typically obtains under laissez-faire in an OLG economy.The Keynesian thematic in OLG is argued for in detail. OLG entails: a long-run role for Liquidity Preference in the determination of real interest rates; a 'reverse Treasury view' on the relative merits of fiscal vs. monetary policy; an activist imperative stemming from the multiple equilibria, not all desirable, that an OLG economy will exhibit; and an analogue, in utility terms, for the Keynesian concept of an unemployment equilibrium.It is argued that the capital-theoretic implications of OLG ought to be seen as a broadening and deepening of Phelps' Golden Rule results. They are given depth by being embedded in a general equilibrium model where agents optimize. Breadth comes through the extension of the presumption in favor of intervention to under-capitalized economies, where the laissez-faire real rate of return exceeds the growth rate. It is contended that though such economies (called 'classical') are Pareto-efficient, they may aptly be characterized as tragic: Intervention can vastly improve matters at the cost of arbitrarily small damage to the initial old.These interesting welfare implications of intervention in a classical OLG economy are displayed in a model where fiat money is introduced in the form of nominal loans by the government. Such a monetized classical economy performs very differently from the monetized Samuelson economies which are standard in the literature.A spatial OLG economy is constructed and examined for the analogues to the inefficient non-stationary paths which are found in the standard temporal model.Finally, it is shown that OLG is capable of shedding light on older issues in monetary thought. Marx's work on commodity money and fetishism, as well as Mill's qualified defense of the Real Bills doctrine, are analyzed using OLG.Source: Dissertation Abstracts International, Volume: 50-07, Section: A, page: 2192.Ph.D. American University 1989.Englis
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