5,339 research outputs found
Dynamic Scoring in a Romer-style Economy
No full textThis paper explores the dynamic behavior of a Romer-style endogenous growth model, analyzing how changes in tax rates affect government revenue in the short run and the long run. I show that in this environment lowering taxes on financial income is unlikely to stimulate tax revenue in the long run and has modest effects on the tax base, contrary to some other studies of the dynamic response of revenue to tax rates. Calibrations of the model that suggest Laffer curve effects can be substantial require implausibly low values for the elasticity of substitution between varieties of intermediate goods. For more plausible parameter values, I find that around 20% of a tax cut would be self-financing due to an expansion in the tax base.
How large are the effects of tax changes?
No full textWe use the time series of shifts in U.S. Federal tax liabilities constructed by Romer and Romer to estimate tax multipliers. Differently from the single-equation approach adopted by Romer and Romer, our estimation strategy (a Var that includes output, government spending and revenues, inflation and the nominal interest rate) does not rely upon the assumption that tax shocks are orthogonal to each other as well as to lagged values of other macro variables. Our estimated multiplier is much smaller: one, rather than three at a three-year horizon. When we split the sample in two sub-samples (before and after 1980) we find, before 1980, a multiplier whose size is never greater than one, after 1980 a multiplier not significantly different from zero. Following the findings in Bohn (1998), we also experiment with a model that includes debt and the non-linear government budget constraint. We find that, while in general not very important, the non-linearity that arises from the budget constraint makes a difference after 1980, when the response of fiscal variables to the level of the debt becomes stronger.
Technology Trade, Productivity and Growth
No full textInternational trade is a major channel for technology diffusion. However regressing trade in R&D intensive goods to evaluate the effect of technology imports on productivity in a cross section of countries may be misleading because of simultaneity bias. I identify the effect of technology trade on productivity using geographical instruments for the trade variable as in Frankel and Romer (1999). I make several contributions. First, I provide evidence that OLS estimates are downward biased. Second, the effect is robust to the exclusion of outliers, the inclusion of latitude, and to different subsamples. Finally, I document the channels throughout technology imports affect productivity.Growth, Technology Diffusion, Instrumental Variables, R&D Spillovers, Capital Goods.
Central and peripheral determinants of fatigue in acute hypoxia
No full textThis thesis was submitted for the degree of Docter of Philosophy and awarded by Brunel University on 24th March 2011.Fatigue is defined as an exercise-induced decrease in maximal voluntary force produced by a muscle. Fatigue may arise from central and/or peripheral mechanisms. Supraspinal fatigue (a component of central fatigue) is defined as a suboptimal output from the motor cortex and measured using transcranial magnetic stimulation (TMS). Reductions in O2 supply (hypoxia) exacerbate fatigue and as the severity of hypoxia increases, central mechanisms of fatigue are thought to contribute more to exercise intolerance. In study 1, the feasibility of TMS to measure cortical voluntary activation and supraspinal fatigue of human knee-extensors was determined. TMS produced reliable measurements of cortical voluntary activation within- and between-days, and enabled the assessment of supraspinal fatigue. In study 2, the mechanisms of fatigue during single-limb exercise in normoxia (arterial O2 saturation [SaO2] ~98%), and mild to severe hypoxia (SaO2 93-80%) were determined. Hypoxia did not alter neuromuscular function or cortical voluntary activation of the knee-extensors at rest, despite large reductions in cerebral oxygenation. Maximal force declined by ~30% after single-limb exercise in all conditions, despite reduced exercise time in severe-hypoxia compared to normoxia (15.9 ± 5.4 vs. 24.7 ± 5.5 min; p < 0.05). Peripheral mechanisms of fatigue contributed more to the reduction in force generating capacity of the knee-extensors following single-limb exercise in normoxia and mild- to moderate-hypoxia, whereas supraspinal fatigue played a greater role in severe-hypoxia. In study 3, the effect of constant-load cycling exercise to the limit of tolerance in hypoxia (SaO2 ~80%) and normoxia was investigated. Time to the limit of tolerance was significantly shorter in hypoxia compared to normoxia (3.6 ± 1.3 vs. 8.1 ± 2.9 min; p < 0.001). The reductions in maximal voluntary force and knee-extensor twitch force at task-failure were not different in hypoxia compared to normoxia. However, the level of supraspinal fatigue was exacerbated in hypoxia, and occurred in parallel with reductions in cerebral oxygenation and O2 delivery. Supraspinal fatigue contributes to the decrease in whole-body exercise tolerance in hypoxia, presumably as a consequence of inadequate O2 delivery to the brain
NIVELES DE AFLATOXINA M1 EN LECHE CRUDA Y PASTEURIZADA COMERCIALIZADA EN LA ZONA METROPOLITANA DE GUADALAJARA, M�XICO
No full textEntre los indicadores de calidad higi�nico sanitaria de la leche en M�xico, se encuentra el nivel de contaminaci�n con aflatoxina M1 (AFM1), proveniente de animales que han consumido alimento contaminado con aflatoxina B1 (AFB1). Los tratamientos t�rmicos como la pasteurizaci�n, generalmente no disminuyen la concentraci�n de AFM1, por lo que en el presente trabajo se estudi� la presencia de AFM1 en leche cruda de vaca de 10 centros de acopio (n=50) y 7 marcas de leche pasteurizada (n=84) comercializadas en la zona metropolitana de Guadalajara, Jalisco, M�xico. La determinaci�n de AFM1 se realiz� mediante un juego de reactivos tipo ELISA competitivo- directo (Agraquant� Aflatoxina M1, Romer Labs). El an�lisis estad�stico se llev� a cabo mediante una prueba de ANOVA de una sola v�a con el programa Sigma Stat 3.0. Se detect� AFM1 en el 100% de las muestras estudiadas, con niveles en el rango de < 0.005 a 0.100 �g/L y de < 0.005 a 0.637 �g/L en leche cruda y pasteurizada respectivamente. El 18.6 % (25/134) de las muestras superaron el LMR establecido por la Uni�n Europea (0.05 �g/kg), present�ndose porcentajes en leches cruda y pasteurizada de 0.7% (1/134) y 17.9% (24/134) respectivamente, pero s�lo el 0.7 % (1/134) excedi� el l�mite de AFM1 establecido para M�xico en la NOM-243-SSA1-2010, que es de 0.5 �g/kg. Se observaron diferencias estad�sticamente significativas (p<0.05) entre los meses analizados, con los niveles mayores en el mes de diciembre, pero no se encontraron diferencias entre centros de acopio (leche cruda) y tampoco entre marcas de leche pasteurizada
Quality of Knowledge Technology, Returns to Production Technology and Economic Development
No full textPresenting a discrete time version of the Romer (1986) model, this paper analyzes optimal paths in a one-sector growth model when the technology is not convex. We prove that for a given quality of knowledge technology, the countries could take-off if their initial stock of capital are above a critical level; otherwise they could face a poverty-trap. We show that for an economy which wants to take-off by means of knowledge technology requires three factors : large amount of initial knowledge, small fixed costs and a good quality of knowledge technology.Optimal Growth;optimal path;value fuction;poverty-trap;increasing returns
Nenitzescu Synthesis of 5-Hydroxyindoles with Zinc, Iron and Magnesium Salts in Cyclopentyl Methyl Ether
No full textIn this work, mild Lewis acids and low environmental impact solvents were investigated for Nenitzescu synthesis. Cyclopentyl methyl ether can be used at room temperature in substitution of halogenated solvents with zinc, iron and magnesium salts as homogeneous catalysts to give 5-hydroxyindoles in fair to good yields. The reaction features a straightforward workup and excellent solvent recycle
On the Welfare Properties of the Lucas and Romer Endogenous Growth Models
No full textWe present results from quantitative exercises using the Lucas and Romer endogenous growth models, from which we calculate welfare losses from the distortions presented in the Romer model. Moreover, comparing the models to data, we show that an economy governed by the Romer model would attain a higher welfare than one governed by the Lucas model, contrary to what can be interpreted from some previous theoretical contributions.Endogenous Growth, Human Capital, R&D, Welfare.
Family self-portrait based on personal documents by Stefania and Michael Pius Romer
No full textThe article compares two different autobiographical and biographical sources concerning one family – the Romers of the Bohdan line living in Lithuanian territories. The first source is the extensive Journals of Michael Römer. Another is the Memoirs of Stefania Romer, born 46 years after the birth of Michał Römer, the granddaughter of the sister of the author of Journals. By analyzing fragments of these sources, it is possible to distinguish elements characteristic of the image of the Romer family: love for nature, national identity, religiosity, attachment to tradition, respect for individual family members, and above all, the place – the manor house in Bohdaniszki – the meeting point of all lines that make up the self-portrait family of Romer.KAMIL K. PILICHIEWICZ, dr nauk humanistycznych w zakresie literaturoznawstwa, kulturoznawca, kustosz, pracownik Książnicy Podlaskiej im. Łukasza Górnickiego w Białymstoku; stały współpracownik Wydziału Filologicznego Uniwersytetu w Białymstoku; współredaktor naukowy publikacji (wraz z J. Ławskim): Uniwersytet XXI wieku: nauka i lokalność. Studia (Białystok 2018); autor licznych artykułów, w tym: Recepcja twórczości Gałczyńskiego jako wyzwanie. Kazus Michała Głowińskiego (2019), „W olśnieniu, widzeniu, na obcy spójrz świat”. W entourage’u Miłoszowych światów (2020). Wydał mo-nografię: „Na tym najpiękniejszym ze światów”. Proza Michała Głowińskiego (Białystok 2020). Mieszka w Białymstoku.Książnica Podlaska im. Łukasza Górnickiego w BiałymstokuBogusz K., Mieszkańcy Litwy i Białej Rusi w pismach rozproszonych Zygmunta Glogera, w: Chrześcijańskie dziedzictwo duchowe narodów słowiańskich. Literatura, język, kultura, historia,
red. Z. Abramowicz, J. Ławski, K. Rutkowski, Białystok 2019.Gloger Z., Dziennik podróży po Niemnie [„Kronika Rodzinna” 1873, nr 12], w: tegoż, Pisma rozproszone, t. 1: 1863–1876, red. J. Ławski i J. Leończuk, Białystok 2014.Gloger Z., O uzasadnienie historyczne [„Dziennik Wileński” 1907, nr 159], w: tegoż, Pisma rozproszone, t. 3: 1890–1910, red. J. Ławski i J. Leończuk, Białystok 2016.Gluza Z., Od wydawcy, w: M. Römer, Dzienniki, t. 1: 1911–1913, red. A. Knyt, J. Sienkiewicz, Warszawa 2017.Miknys R., Józef Mackiewicz i Michał Romer a sprawa lituanizacji Wileńszczyzny w latach 1939–1940, „Rocznik Stowarzyszenia Naukowców Polaków Litwy” Wilno 2016, t. 16.Miknys R., Sprawa wydania „Dziennika” Michała Romera: sukcesy i porażki?, w: Doktor Zbigniew Solak (1953–2004) a wzajemne poznanie Polski i Litwy. Życie i problematyka badawcza
krakowskiego uczonego, red. S. Gąsiorowski, Warszawa–Kraków 2004.Miłosz Cz., Jak z tą Litwą bywało, w: tegoż, Szukanie ojczyzny, Kraków 1992.Moch M., Michał Romer – „Polak litewski”, „krajowiec”, spadkobierca tradycji Wielkiego Księstwa Litewskiego, w: Językowe i kulturowe dziedzictwo Wielkiego Księstwa Litewskiego.
Księga jubileuszowa na 1000-lecie Litwy, red. J. Mędelska, Z. Sawaniewska-Mochowa, Bydgoszcz 2010.Römer M., Dzienniki, t. 1: 1911–1913, red. A. Knyt, J. Sienkiewicz, Warszawa 2017.Römer M., Dzienniki, t. 4: 1920–1930, red. J. Sienkiewicz, Warszawa 2018.Romer S., Wspomnienia, red. J. Sienkiewicz, Wilno 2008.Sawaniewska-Mochowa Z., Wybory tożsamościowe i językowe potomków ziemian z Litwy Kowieńskiej w świetle narracji biograficznych, w: Wielkie rody na ziemiach polsko-litewskich
w XVI–XX wieku: Wielkie rody. Procesy, red. N. Kasparek, T. Zych, M. Klempert, Olsztyn–Tarnobrzeg 2017.Sawaniewska-Mochowa Z., Zielińska A., Dziedzictwo kultury szlacheckiej na byłych kresach północno-wschodnich Rzeczypospolitej. Ginąca część kultury europejskiej, Warszawa 2007.Sawicki J., Michał Römer a problemy narodowościowe na ziemiach byłego Wielkiego Księstwa Litewskiego, Toruń 1998.Solak Z., Między Polską a Litwą. Życie i działalność Michała Romera 1880–1920, Kraków 2004.5037138
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Monetary Policy, Nominal Interest Rates, and Long-horizon Inflation Uncertainty
No full textEmpirical evidence presented in this paper shows that the predictability of inflation at long horizons varies considerably across countries. Both simple theory and empirical evidence suggest that the crucial factor is the extent to which systematic monetary policy succeeds in stabilising the incipient unit root in inflation. The mechanism by which it does this appears, however, to be complicated by strong empirical evidence that nominal interest rates have real effects, which implies that monetary policy need not be so vigorous in reaction to inflation. This helps explain why inflation rates in the US and (especially) Germany have been relatively predictable, despite monetary policy rules which appear to have been barely stabilising. The paper also presents tentative evidence that the power of nominal interest rate effects is inversely related to long-horizon inflation uncertainty, and hence ultimately uncertainty about monetary policy
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