32,430 research outputs found
Thomas Grisell letter to Thomas Rotch, 2nd mo 19th 1823
No full textThomas Grisell's letter reached the Rotch household several months before the unexpected death of Thomas Rotch in August, 1823. This is the last letter of the series and presumably the author learned of his friend's death before another letter was penned. 7.95" x 10" (20.2 by 25.5 cm
Dynamically optimal R&D subsidization
No full textThis paper characterizes the optimal time path of R&D and capital subsidization. Starting from the steady state under current R&D subsidization in the US, the R&D subsidy should significantly jump upwards and then slightly decrease over time. There is a small loss in welfare, however, from immediately setting the R&D subsidy to its optimal long run level, compared to a time-varying R&D subsidy. The results do not depend on the financing scheme, namely lump sum taxation or factor income taxation. The optimal capital subsidy is time-varying under factor income taxation, but time-invariant when subsidies are financed by lump sum taxes. (c) 2012 Elsevier B.V. All rights reserved
Quantifying Optimal Growth Policy
No full textWe determine the optimal growth policy within a comprehensive endogenous growth model. The model accounts for important elements of the tax transfer system and for transitional dynamics. It captures the three main growth engines based on standard ingredients in order to understand the quantitative policy and welfare implications of the existing theory. Our calibrated model indicates that the current policy leads to severe underinvestment in both R&D and physical capital, implying that both R&D and capital investment subsidies should be increased substantially. We argue that previous research has overlooked a strong evidence for the welfare significance of the quest for the optimal growth policy by failing to calibrate the distortionary tax system
Failed Censures: Ecclesiastical Regulation of Women’s Clothing in Late Medieval Italy
No full textChurchmen in the late thirteenth and early fourteenth centuries tried to regulate the costume of Italian women. These efforts failed, and regulation was largely left thereafter to civic authorities.The published version was published as Chapter 3 in Medieval Clothing and Textiles 5Izbicki, Thomas M. (2009), "Failed Censures: Ecclesiastical Regulation of Women’s Clothing in Late Medieval Italy" in Netherton, Robin and Owen-Crocker, Gale R., eds., Medieval Clothing and Textiles 5 (Boydell Press), 37-53ISBN: 9781843834519 (published book)Peer reviewe
The macroeconomics of TANSTAAFL
No full textMarket imperfections may lead to underinvestment in dynamic general equilibrium models. An interesting but unexplored question is whether policy interventions which attenuate underinvestment gaps necessarily imply that consumption will initially decline. By employing a calibrated version of a standard R&D-based growth model, we show that raising the R&D subsidy rate may not only close the R&D underinvestment gap but also raise consumption per capita at all times ("intertemporal free lunch"). We also discuss the general mechanics of such an intertemporal free lunch in both one-sector and multi-sector growth models and further examples. (C) 2013 Elsevier Inc. All rights reserved
Western medieval legal manuscripts in the collections of the University of Pennsylvania
No full textWestern legal manuscripts of the Middle Ages in North American collections are among the least known to scholars. The University of Pennsylvania has a rich collection of these texts, several of which were in the collection of the historian Henry Charles Lea. Included are works of civil law and canon law, as well as collections of papal letters and guides to pastoral care. The descriptions of most of these manuscripts in the catalog of Norman P. Zacour and Rudolf Hirsch are perfunctory, sometimes erring or omitting valuable information. Other manuscripts were added in recent years in the Lawrence J. Schoenberg Collection. Much of this material is being added to the Franklin online catalog of the University’s libraries, but researchers frequently do not search these digital resources. This article provides more complete guidance to the University’s medieval legal manuscripts than any of the existing catalogs offers, whether in print or online. It also provides updated bibliographic information in print or online. Every manuscript has been examined by the author in situ. Among the important works represented in the collection is the Panormia (a work of canon law often attributed to Ivo of Chartres). Authors present include the curialist Thomas of Capua, canonists Petrus de Braco, William of Pagula, Bernardus Raimundi, Adam of Aldersbach, Raymond of Peñafort, and civil lawyers Baldus de Ubaldis, and Bartolus de Saxoferrato. Three of these manuscripts were owned in the past by Sir Thomas Phillipps
Forbidden Colors in the Regulation of Clerical Dress from the Fourth Lateran Council (1215) to the Time of Nicholas of Cusa (d. 1464)
No full textMedieval canon law attempted to distinguish clergy from the laity by restricting their dress choices. The article focuses on prohibition of wearing red or green on the street. Both colors were identified with the nobility.The published version was published as Chapter 7 in Medieval Clothing and Textiles 1Izbicki, Thomas M. (2005), "Forbidden Colors in the Regulation of Clerical Dress from the Fourth Lateran Council (1215) to the Time of Nicholas of Cusa (d. 1464)" in Netherton, Robin and Owen-Crocker, Gale R., eds., Medieval Clothing and Textiles 1 (Boydell Press),105-114ISBN: 9781843831235 (published book
Thomas Crutchfield account book, 1848-1861
No full textA book containing business accounts, including details about travel expenses and the purchase and sale of lumber as well as other goods and services. The author also catalogs personal spending, the dates and pricing of properties offered for rent, and the purchase and leasing of enslaved people. Many entries are consistent with the business activities of Thomas Crutchfield Sr., who died in 1850. Someone continued to make entries in the book for activities dated up to 1861
Thomas Crutchfield account book, 1848-1861
No full textA book containing business accounts, including details about travel expenses and the purchase and sale of lumber as well as other goods and services. The author also catalogs personal spending, the dates and pricing of properties offered for rent, and the purchase and leasing of enslaved people. Many entries are consistent with the business activities of Thomas Crutchfield Sr., who died in 1850. Someone continued to make entries in the book for activities dated up to 1861
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