Seeds of growth? Agricultural productivity and the transitional dynamics of the Ramsey model

A two-sector Ramsey-type model of growth is developed to investigate the relationship between agricultural productivity and economy-wide growth. The framework takes into account the peculiarities of agriculture both in production ( reliance on a fixed natural resource base) and in consumption (life-sustaining role and low income elasticity of food demand). The transitional dynamics of the model establish that when preferences respect Engel's law, the level and growth rate of agricultural productivity influence the speed of capital accumulation. A calibration exercise shows that a small difference in agricultural productivity has drastic implications for the rate and pattern of growth of the economy. Hence, low agricultural productivity can form a bottleneck limiting growth, because high food prices result in a low saving rate.

Does Ricardian Equivalence Hold When Expectations are not Rational?

This paper considers the Ricardian Equivalence proposition when expectations are not rational and are instead formed using adaptive learning rules. We show that Ricardian Equivalence continues to hold provided suitable additional conditions on learning dynamics are satisfied. However, new cases of failure can also emerge under learning. In particular, for Ricardian Equivalence to obtain, agents’ expectations must not depend on government’s financial variables under deficit financing.

Finite Horizon Learning

Incorporating adaptive learning into macroeconomics requires assumptions about how agents incorporate their forecasts into their decision-making. We develop a theory of bounded rationality that we call finite-horizon learning. This approach generalizes the two existing benchmarks in the literature: Eulerequation learning, which assumes that consumption decisions are made to satisfy the one-step-ahead perceived Euler equation; and infinite-horizon learning, in which consumption today is determined optimally from an infinite-horizon optimization problem with given beliefs. In our approach, agents hold a finite forecasting/planning horizon. We find for the Ramsey model that the unique rational expectations equilibrium is E-stable at all horizons. However, transitional dynamics can differ significantly depending upon the horizon.

International integration and long- run persistence of the GNP distribution

We use the Ramsey model of g,Towth elaborated by Bliss [1995] and Ventlira [1997] to show how international integration results in long-nm persistellce Df GNPs distribution, while allowing, under certain conditions on parameters, for convergellce during the transition. First, we pi·ovide relationships which explicitly relate, in the neighborhood of the steady-state, the magnitude of conditional convergence or divergence to the fundamentaIs of the economies. Second, we present ali analysis of the Cobb Douglas case with a broad dass of utility functions and show that there is always transitional convergenee with this technology. Third, directions for testing the Illodel against the traditional dosed-ecollomy setting are proposed. These lead to adding specific and world-wide regTessors to traditional growth regressions.

Free expanding cloud of cold atoms as an atomic standard: Ramsey fringes contrast

A compact frequency standard based on an expanding cold (133)CS cloud is under development in our laboratory. In a first experiment, Cs cold atoms were prepared by a magneto-optical trap in a vapor cell, and a microwave antenna was used to transmit the radiation for the clock transition. The signal obtained from fluorescence of the expanding cold atoms cloud is used to lock a microwave chain. In this way the overall system stability is evaluated. A theoretical model based on a two-level system interacting with the two microwave pulses enables interpretation for the observed features, especially the poor Ramsey fringes contrast. (C) 2008 Optical Society of America.

On a uniform turnpike of the third kind in the Robinson-Solow-Srinivasan model

On using McKenzie’s taxonomy of optimal accumulation in the longrun, we report a “uniform turnpike” theorem of the third kind in a model original to Robinson, Solow and Srinivasan (RSS), and further studied by Stiglitz. Our results are presented in the undiscounted, discrete-time setting emphasized in the recent work of Khan-Mitra, and they rely on the importance of strictly concave felicity functions, or alternatively, on the value of a “marginal rate of transformation”, ξσ, from one period to the next not being unity. Our results, despite their specificity, contribute to the methodology of intertemporal optimization theory, as developed in economics by Ramsey, von Neumann and their followers.

Optimal growth in a two-sector model without discounting: a geometric investigation

We characterize optimal policy in a two-sector growth model with xed coeÆcients and with no discounting. The model is a specialization to a single type of machine of a general vintage capital model originally formulated by Robinson, Solow and Srinivasan, and its simplicity is not mirrored in its rich dynamics, and which seem to have been missed in earlier work. Our results are obtained by viewing the model as a specific instance of the general theory of resource allocation as initiated originally by Ramsey and von Neumann and brought to completion by McKenzie. In addition to the more recent literature on chaotic dynamics, we relate our results to the older literature on optimal growth with one state variable: speci cally, to the one-sector setting of Ramsey, Cass and Koopmans, as well as to the two-sector setting of Srinivasan and Uzawa. The analysis is purely geometric, and from a methodological point of view, our work can be seen as an argument, at least in part, for the rehabilitation of geometric methods as an engine of analysis.

First Ramsey-type mass measurements with ISOLTRAP and design studies of the new PENTATRAP project

Der Einsatz von Penningfallen in der Massenspektrometrie hat zu einem einmaligen Genauigkeitssprung geführt. Dadurch wurden Massenwerte verschiedenster Atome zu wichtigen Eingangsparametern bei immer mehr physikalischen Fragestellungen. Die Massenspektrometrie mit Hilfe von Penningfallen basiert auf der Bestimmung der freien Zyklotronfrequenz eines Ions in einem homogenen Magnetfeld νc=qB/(2πm). Sie wird mit Flugzeitmethode (TOF-ICR) bestimmt, wobei eine relative Massenungenauigkeit δm/m von wenigen 10^-9 bei Nukliden mit Lebensdauern von <500 ms erreicht wird. Dies wurde durch die im Rahmen dieser Arbeit erstmals in der Penningfallen-Massenspektrometrie eingesetzten Ramsey-Methode möglich. Dabei werden zeitlich separierte, oszillierenden Feldern zur resonanten Ionenanregung genutzt, um die Frequenzmessung durch die Flugzeitmethode zu verbessern. Damit wurden am Penningfallenmassenspektrometer ISOLTRAP an ISOLDE/CERN die Massen der Nuklide 26,27Al und 38,39Ca bestimmt. Alle Massen wurden in die „Atomic Mass Evaluation“ eingebettet. Die Massenwerte von 26Al und 38Ca dienten insbesondere zu Tests des Standardmodells. Um mit Massenwerten fundamentale Symmetrien oder die Quantenelektrodynamik (QED) in extremen Feldern zu testen wurde ein neues Penningfallenprojekt (PENTATRAP) für hochpräzise Massenmessungen an hochgeladenen Ionen konzipiert. In dieser Doktorarbeit wurde vornehmlich die Entwicklung der Penningfallen betrieben. Eine Neuerung bei Penningfallenexperimenten ist dabei die permanente Beobachtung des Magnetfeldes B und seiner zeitlichen Fluktuationen durch so genannte „Monitorfallen“.

Integrated Proteomics Identified Up-regulated Focal Adhesion-mediated Proteins In Human Squamous Cell Carcinoma In An Orthotopic Murine Model.

Understanding the molecular mechanisms of oral carcinogenesis will yield important advances in diagnostics, prognostics, effective treatment, and outcome of oral cancer. Hence, in this study we have investigated the proteomic and peptidomic profiles by combining an orthotopic murine model of oral squamous cell carcinoma (OSCC), mass spectrometry-based proteomics and biological network analysis. Our results indicated the up-regulation of proteins involved in actin cytoskeleton organization and cell-cell junction assembly events and their expression was validated in human OSCC tissues. In addition, the functional relevance of talin-1 in OSCC adhesion, migration and invasion was demonstrated. Taken together, this study identified specific processes deregulated in oral cancer and provided novel refined OSCC-targeting molecules.