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We test the menu cost model of Ball and Mankiw (1994, 1995), which implies that the impact of price dispersion on inflation should differ between inflation and deflation episodes, using data for Japan and Hong Kong. We use a random cross-section sample split when calculating the moments of the distribution of price changes to mitigate the small-cross-sectionsample bias noted by Cecchetti and Bryan (1999). The parameter on the third moment is positive and significant in both countries during both the inflation and deflation periods, and the parameter on the second moment changes sign in the deflation period, as the theory predicts. Keywords: inflation, deflation, menu costs, Hong Kong, Japan JEL Numbers: E31
Untangling some taxonomic riddles on damselfly genera (Zygoptera) from the neotropical region
(2007)
Examination of type material deposited in the IRSNB (Royal Belgian Institute of Natural Sciences, Brussels, Belgium) and in the BMNH (British Museum of Natural History, London, Great Britain) allowed us to solve taxonomic riddles regarding several damselfly (Zygoptera) genera from the neotropical region. We provide notes on the status of several types, and introduce the following new synonymies: Argia huallaga Fraser, 1946 = A. adamsi Calvert, 1902; Argia makoka Fraser, 1946 = A. kokama Fraser, 1946; Argia mollusca Fraser, 1946 = A. collata Selys, 1865; Argia trifoliata Fraser, 1946 = A. variegata Förster, 1914; Argia umbriaca Fraser, 1946 = A. indicatrix Calvert, 1902; Amphiagrion amphion Selys, 1876 = Ischnura verticalis (Say, 1840); a new combination: Oxyagrion cardinalis Fraser, 1946 to Leptobasis cardinalis (Fraser, 1946); and three lectotype designations (for Acanthagrion gracile race? lancea Selys, 1876, Acanthagrion trimaculatum Selys, 1876, and Leptagrion flammeum Selys, 1876).
I employ a large set of scanner price data collected in retail stores to document that (i) although the average magnitude of price changes is large, a substantial number of price changes are small in absolute value; (ii) the distribution of non-zero price changes has fat tails; and (iii) stores tend to adjust prices of goods in narrow product categories simultaneously. I extend the standard menu costs model to a multi-product setting in which firms face economies of scale in the technology of adjusting prices. The model, because of its ability to replicate this additional set of micro-economic facts, can generate aggregate fluctuations much larger than those in standard menu costs economies. JEL Classification: E31, E32
Both practitioners and academics agree about the importance of price and its direct influenceon consumers’ purchase decision as well as the company profit. In the reality, we rarely see a
single price for a given product. One visit in a store already shows that consumers face many various prices. This strategy of differential prices allows to increase profit but also improves consumers’ situation and increases welfare. A wide range of various price differentiation mechanisms exists on the market which makes price differentiation a very interesting phenomenon. Additionally, market developments constantly allow for new price differentiation applications. In this work, I research a fascinating topic of price differentiation, its various forms
and new application possibilities in changing market areas.
NE Mount Kenya is characterised by dense population and small scale farming is the main form of land use. In the region, continual pressure on the forest resources as result of land use is a continuing problem. The NE Mount Kenya Forest Reserves (Imenti Forest Reserve, Mount Kenya Forest Reserve) play an important role in the livelihood of the neighbouring communities. However population pressure, reserve management policies, economic changes, an ineffective land tenure system and poverty are socio-economic factors contributing to land use changes and an intensification of agriculture. Illegal factors like clearing forest vegetation for firewood and grazing areas, at the expense of the protected forest areas, are present. This study focuses on an interdisplinary approach to analyse socio-economic and ecological factors in NE Mount Kenya relevant to land degradation. This includes remote sensing data (interpretation of satellite images Landsat TM 1987 and ETM 2000) combined with interviews from the land user’s perspective. Ethnographic research of this type on this topic has not been done in the region before. This entailed applying both a qualitative (giving farmers the opportunity to identify factors they perceived as important in regard to land use) and a quantitative method of data analysis. The Mount Kenya Forest region is distinguished by high elevation and a humid to sub-humid climate, while the Imenti Forest region lies lower and is characterised by semi-humid and transitional zones. Land use in the Mount Kenya Forest region is mainly perennial thus eliminating seasonal land use changes. In the Imenti Forest region, 30% of the farmers said they had gone through major land use changes within the last 20 years. The major land use change consisted of a shift from residential farming in the protected areas which offered more farming and grazing areas, to being restricted to individual farm plots which consequently led to the intensification of cultivation thus contributing to land degradation. The satellite images in the same region show a clear decrease in coverage of forest vegetation and an increase in open areas in the Imenti Forest region which the farmers explain influences the tentative land use changes in the region. On the other hand, in the Mount Kenya forest region, there has been an increase in forest vegetation cover which is also evident in the satellite images. Areas that were plantation and cultivated regions in 1987 have forest cover in 2000, which the farmers stated was as a result of their afforestation initiatives. Nevertheless, indicators of degradation e.g. rill and gully erosion are evident and correlated to the intensified land use in both forest regions. The population impact in the region apparently intensifies land use therefore the identified socio-economic factors in the region should be given priority in integrating development projects that are directly beneficial to park-adjacent communities according to the needs of the particular agro-ecological zone (AEZ). Location specific research can better enhance the understanding of the socio-economic factors influencing land use change. Furthermore, promoting alternative income generating activities, besides the present livestock and crop farming, can help reduce the risks of land degradation.
The search for a modification of hadron properties inside nuclear matter at normal and/or high temperature and density is one of the more interesting issues of modern nuclear physics. Dilepton experiments, by providing interesting results, give insight into the properties of strong interaction and the nature of hadron mass generation. One of these research tools is the HADES spectrometer. HADES is a high acceptance dilepton spectrometer installed at the heavy-ion synchrotron (SIS) at GSI, Darmstadt. The main physics motivation of HADES is the measurement of e+e- pairs in the invariant-mass range up to 1 GeV/c2 in pion- and proton-induced reactions, as well as in heavy-ion collisions. The goal is to investigate the properties of the vector mesons rho, omega and of other hadrons reconstructed from e+e- decay pairs. Dileptons are penetrating probes allowing to study the in-medium properties of hadrons. However, the measurement of such dilepton pairs is difficult because of a very large background from other processes in which leptons are created. This thesis presents the analysis of the data provided by the first physic run done with the HADES spectrometer. For the first time e+e- pairs produced in C+C collisions at an incident energy of 2 GeV per nucleon have been collected with sufficient statistics. This experiment is of particular importance since it allows to address the puzzling pair excess measured by the former DLS experiment at 1.04 AGeV. The thesis consists of five chapters. The first chapter presents the physics case which is addressed in the work. In the second chapter the HADES spectrometer is introduced with the characteristic of specific detectors which are part of the spectrometer. Chapter three focusses on the issue of charged-particle identification. The fourth chapter discusses the reconstruction of the di-electron spectra in C+C collisions. In this part of the thesis a comparison with theoretical models is included as well. The conclusion and final remarks are given in chapter five.
Pluto is a Monte-Carlo event generator designed for hadronic interactions from Pion production threshold to intermediate energies of a few GeV per nucleon, as well as for studies of heavy ion reactions. The package is entirely based on ROOT, without the need of additional packages, and uses the embedded C++ interpreter of ROOT to control the event production. The generation of events based on a single reaction chain and the storage of the resulting particle objects can be done with a few lines of a ROOT-macro. However, the complete control of the package can be taken over by the steering macro and user-defined models may be added without a recompilation of the framework. Multi-reaction cocktails can be facilitated as well using either mass-dependent or user-defined static branching ratios. The included physics uses resonance production with mass-dependent Breit-Wigner sampling. The calculation of partial and total widths for resonances producing unstable particles is performed recursively in a coupled-channel approach. Here, particular attention is paid to the electromagnetic decays, motivated by the physics program of HADES. The thermal model supports 2-component thermal distributions, longitudinal broadening, radial blast, direct and elliptic flow, and impact-parameter sampled multiplicities. The interface allows angular distribution models (e.g. for the primary meson emission) to be attached by the user as well as descriptions of multi-particle correlations using decay chain templates. The exchange of mass sampling or momentum generation models is also possible. The first feature allows for consistent coupled-channel calculations, needed for a correct description of hadronic interactions. For elementary reactions, angular distribution models for selected channels are already part of the framework, based on parameterizations of existing data. This report gives an overview of the design of the package, the included models and the user interface.