'Lucas' In The Laboratory

'Lucas' In The Laboratory
Author: Elena Asparouhova
Publisher:
Total Pages:
Release: 2013
Genre: Economics
ISBN:

This paper reports on experimental tests of an instantiation of the Lucas asset pricing model with heterogeneous agents and time-varying private income streams. Central features of the model (infinite horizon, perishability of consumption, stationarity) present difficult challenges and require a novel experimental design. The experimental evidence provides broad support for the qualitative pricing and consumption predictions of the model (prices move with fundamentals, agents smooth consumption) but sharp differences from the quantitative predictions emerge (asset prices display excess volatility, agents do not hedge price risk). Generalized Method of Moments (GMM) tests of the stochastic Euler equations yield very different conclusions depending on the instruments chosen. It is suggested that the qualitative agreement with and quantitative deviation from theoretical predictions arise from agents' expectations about future prices, which are almost self-fulfilling and yet very different from what they would need to be if they were exactly self-fulfilling (as the Lucas model requires).

Combating Inequality

Combating Inequality
Author: Olivier Blanchard
Publisher: MIT Press
Total Pages: 313
Release: 2021-02-02
Genre: Political Science
ISBN: 0262045613

Leading economists and policymakers consider what economic tools are most effective in reversing the rise in inequality. Economic inequality is the defining issue of our time. In the United States, the wealth share of the top 1% has risen from 25% in the late 1970s to around 40% today. The percentage of children earning more than their parents has fallen from 90% in the 1940s to around 50% today. In Combating Inequality, leading economists, many of them current or former policymakers, bring good news: we have the tools to reverse the rise in inequality. In their discussions, they consider which of these tools are the most effective at doing so.

Rare Earths

Rare Earths
Author: Jacques Lucas
Publisher: Elsevier
Total Pages: 407
Release: 2014-09-09
Genre: Technology & Engineering
ISBN: 0444627448

High-technology and environmental applications of the rare-earth elements (REE) have grown dramatically in diversity and importance over the past four decades. This book provides a scientific understanding of rare earth properties and uses, present and future. It also points the way to efficient recycle of the rare earths in end-of-use products and efficient use of rare earths in new products. Scientists and students will appreciate the book's approach to the availability, structure and properties of rare earths and how they have led to myriad critical uses, present and future. Experts should buy this book to get an integrated picture of production and use (present and future) of rare earths and the science behind this picture. This book will prove valuable to.non-scientists as well in order to get an integrated picture of production and use of rare earths in the 21st Century, and the science behind this picture. - Defines the chemical, physical and structural properties of rare earths. - Gives the reader a basic understanding of what rare earths can do for us. - Describes uses of each rare earth with chemical, physics, and structural explanations for the properties that underlie those uses. - Allows the reader to understand how rare earths behave and why they are used in present applications and will be used in future applications. - Explains to the reader where and how rare earths are found and produced and how they are best recycled to minimize environmental impact and energy and water consumption.

Forensic Laboratory Management

Forensic Laboratory Management
Author: W. Mark Dale
Publisher: CRC Press
Total Pages: 363
Release: 2014-09-26
Genre: Business & Economics
ISBN: 1466556722

New technologies, including DNA and digital databases that can compare known and questioned exemplars, have transformed forensic science and greatly impacted the investigative process. They have also made the work more complicated. Obtaining proper resources to provide quality and timely forensic services is frequently a challenge for forensic managers, who are often promoted from casework duties and must now learn a whole new set of leadership skills. The interdisciplinary and scientific nature of laboratories requires strong leadership ability to manage complex issues, often in adversarial settings. Forensic Laboratory Management: Applying Business Principles provides laboratory managers with business tools that apply the best science to the best evidence in a manner that increases the efficiency and effectiveness of their management decision making. The authors present a performance model with seven recommendations to implement, illustrating how forensic managers can serve as leaders and strategically improve the operation and management in scientific laboratories. Topics include: Key business metrics and cost–benefit analyses Ethical lapses: why they occur, possible motives, and how problems can be prevented Forensic training, education, and institutes ISO/IEC 17025 accreditation implementation The book includes case studies simulating a working laboratory in which readers can apply business tools with actual data reinforcing discussion concepts. Each chapter also includes a brief review of current literature of the best management theories and practice. The downloadable resources supply two mock trial transcripts and associated case files along with PowerPoint® slides from Dr. George Carmody’s workshop on Forensic DNA Statistics and Dr. Doug Lucas’s presentation on ethics.

A History of Forensic Science

A History of Forensic Science
Author: Alison Adam
Publisher: Routledge
Total Pages: 264
Release: 2015-11-19
Genre: Social Science
ISBN: 1135005583

How and when did forensic science originate in the UK? This question demands our attention because our understanding of present-day forensic science is vastly enriched through gaining an appreciation of what went before. A History of Forensic Science is the first book to consider the wide spectrum of influences which went into creating the discipline in Britain in the first part of the twentieth century. This book offers a history of the development of forensic sciences, centred on the UK, but with consideration of continental and colonial influences, from around 1880 to approximately 1940. This period was central to the formation of a separate discipline of forensic science with a distinct professional identity and this book charts the strategies of the new forensic scientists to gain an authoritative voice in the courtroom and to forge a professional identity in the space between forensic medicine, scientific policing, and independent expert witnessing. In so doing, it improves our understanding of how forensic science developed as it did. This book is essential reading for academics and students engaged in the study of criminology, the history of forensic science, science and technology studies and the history of policing.

Unsustainable Inequalities

Unsustainable Inequalities
Author: Lucas Chancel
Publisher: Harvard University Press
Total Pages: 185
Release: 2020-10-06
Genre: Business & Economics
ISBN: 0674250656

A Financial Times Best Book of the Year A hardheaded book that confronts and outlines possible solutions to a seemingly intractable problem: that helping the poor often hurts the environment, and vice versa. Can we fight poverty and inequality while protecting the environment? The challenges are obvious. To rise out of poverty is to consume more resources, almost by definition. And many measures to combat pollution lead to job losses and higher prices that mainly hurt the poor. In Unsustainable Inequalities, economist Lucas Chancel confronts these difficulties head-on, arguing that the goals of social justice and a greener world can be compatible, but that progress requires substantial changes in public policy. Chancel begins by reviewing the problems. Human actions have put the natural world under unprecedented pressure. The poor are least to blame but suffer the most—forced to live with pollutants that the polluters themselves pay to avoid. But Chancel shows that policy pioneers worldwide are charting a way forward. Building on their success, governments and other large-scale organizations must start by doing much more simply to measure and map environmental inequalities. We need to break down the walls between traditional social policy and environmental protection—making sure, for example, that the poor benefit most from carbon taxes. And we need much better coordination between the center, where policies are set, and local authorities on the front lines of deprivation and contamination. A rare work that combines the quantitative skills of an economist with the argumentative rigor of a philosopher, Unsustainable Inequalities shows that there is still hope for solving even seemingly intractable social problems.

Arabic and contact-induced change

Arabic and contact-induced change
Author: Stefano Manfredi
Publisher: Language Science Press
Total Pages: 702
Release:
Genre: Language Arts & Disciplines
ISBN: 3961102511

This volume offers a synthesis of current expertise on contact-induced change in Arabic and its neighbours, with thirty chapters written by many of the leading experts on this topic. Its purpose is to showcase the current state of knowledge regarding the diverse outcomes of contacts between Arabic and other languages, in a format that is both accessible and useful to Arabists, historical linguists, and students of language contact.

New and Nonofficial Remedies

New and Nonofficial Remedies
Author: Council on Drugs (American Medical Association)
Publisher:
Total Pages: 440
Release: 1920
Genre: Drugs
ISBN:

Descriptions of therapeutic, prophylactic and diagnostic agents evaluated by the Council on Drugs.