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  • articleNo Access

    PRODUCTION SUBSIDY AS A MACROECONOMIC POLICY IN A STAGNATION ECONOMY

    This paper analyzes the effects of a changing production subsidy in a model with money-in-the-utility function for households, monopolistic competition amongst an endogenously-determined number of firms, and nominal wage sluggishness that can prevent the equilibrium from attaining full employment. Its conclusion is that in a steady state with less than full employment (that is, under stagnation), a larger production subsidy will promote entry and stimulate effective demand provided that the elasticity of substitution among the differentiated products is sufficiently high. This paper is motivated by recent Japanese experiences.

  • articleNo Access

    PROSPERITY OR STAGNATION: THE ROLE OF GOVERNMENT EXPENDITURES

    The focus of this paper is to examine the effects and mechanism of government expenditures (GEs) in determining the long-term inflation differentials across countries. For this purpose, we formulate a theoretical model and the related regression system. The models allow us to understand and quantify the supply-side (SS) and demand-side (DS) effects of GEs in determining prosperity or stagnation across countries. This study provides cross-country evidences and related mechanisms supporting the hypothesis and conclusion that active short-term AD policies and over-estimated potential output, as argued in Orphanides (2003), were contributive to the Great Inflation.

  • chapterNo Access

    Thin nutrition pie manufacturing by using radiation effect at stagnation point heat transfer with micropolar flow and multimedia feature

    The energy conversion conjugate conduction-convection Ohmic mixed heat transfer of an incompressible viscoelastic fluid on thermal forming thin nutrition pie has been studied. The present study has been applied similarity transformation method to change the partial differential equations transform to a set of nonlinear ordinary differential equations, and it has also been used an implicit finite-difference method to solve the system's equations. The numerical calculating results for the conjugate heat transfer energy conversion problem which have been carried out as functions of different parameters. The parameters of Pr, and k0 are important energy conversion factors in this study, it should be produced greater heat transfer energy conversion effect with a larger values of k0, or Pr, but the parameter Ec will be reduced the heat transfer energy conversion effect. Because of present study has been studied about many parameters physical features, so that it is also belong to a multimedia physical feature study work.