Long-Term Growth and Persistence with Endogenous Depreciation: Theory and Evidence

Previous research has shown a strong positive correlation between short-term persistence and long-term output growth as well as between depreciation rates and long-term output growth. This evidence, therefore, contradicts the standard predictions from traditional neoclassical or AK-type growth models with exogenous depreciation. In this paper, we first confirm these findings for a larger sample of 101 countries. We then study the dynamics of growth and persistence in a model where both the depreciation rate and growth are endogenous and procyclical. We find that the model s predictions become consistent with the empirical evidence on persistence, long-term growth and depreciation rates.

Visual impact assessment of small dock & piers: Theory and practice

From a manager’s perspective, oftentimes the publicly held concerns related to small docks and piers are not really related to the environment. They may be more related to visual impacts and aesthetic concerns, a sense of over-development of the shore, or simply change. While individuals may hold personal aesthetic values related to small docks in general or an individual structure in particular, techniques have evolved that appear to provide reproducible, predictive assessments of the visual impacts and aesthetic values of an area and how those might change with development, including an increase in numbers of small docks. These assessments may be used to develop regulatory or non-regulatory methods for the management of small docks based on state or community standards. Visual impact assessments are increasingly used in the regulatory review of proposed development—although this process is still in its infancy as regards small docks and piers. Some political jurisdictions have established visual impact or aesthetic standards as relate to docks and others are in the process of investigating how to go about such an effort. (PDF contains 42 pages)

Is General Relativity a simplified theory?

IARD 8th Biennial Conference on Classical and Quantum Relativistic Dynamics of Particles and Fields - Galileo Galilei Inst Theoret Phys (GGI), Florence, ITALY - MAY 29-JUN 01, 2012. Edited by:Horowitz, LP