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  • Greenwood, Jeremy, et al. (författare)
  • Investment, Capacity Utilization and the Real Business Cycle
  • 1986
  • Rapport (övrigt vetenskapligt)abstract
    • The present paper adopts the Keynesian view that direct shocks to investment are important for business fluctuations, but incorporates them in a neo-classical framework where the rate of capital utilization is endogenous. In contrast to the intertemporal substitution effect on labor supply, at work in the standard neo-classical moels, the transmission mechanism of the investment shocks works here through the optimal capacity utilization decision and the demand side of the labor market. The crucial feature of the model that determines the optimal utilization rate is Keynes's notion of 'user cost'. Given this mechanism labor productivity shifts become endogenous outcomes, rather than given exogenously as in the existing real business cycle models.The interaction between investment shocks and labor demand studied here seems to contribute to the understanding of the co-movements of macroeconomic variables observed during the cycle.
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  • Smith, Jonathan M., et al. (författare)
  • The RB Language
  • 1988
  • Rapport (övrigt vetenskapligt)abstract
    • Typical algorithms for distributed or parallel computations are cooperative, meaning that the sequential component is broken down into cooperating pieces, which are distributed across available hardware. An approach wich has recently gained some attention is competitive processing, where several versions of a sequential program are distributed across available processors to gain performance from algorithmic diversity. There is also potential for fault tolerance from available hardware by executing the sequential versions, called alternatives, on a distributed configuration. Schemes for implementing competitive concurrent processing have been described in the literature, but there is little implementation experience. RB is a practical step towards gaining such experience.RB is a programming language for specifying alternative methods of performing a computation, where at most one of the results of the alternatives is used. Our prototype implementation uses a combination of a language preprocessor for C and a runtime library to provide the desired semantics. Using other base programming languages, e.g., Ada, or other methods of managing alternatives is straightforward.
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  • Wibe, Sören, 1946- (författare)
  • Firm and industry cost functions for the control of emissions
  • 1985
  • Rapport (övrigt vetenskapligt)abstract
    • The relation between firm (micro) and industry (macro) cost functions for the control of emissions are analyzed in this paper. Using aggregation methods found in modern production theory, it is demonstrated how industry cost functions can be constructed from firm functions.The model is illustrated with an empirical study of the Swedish Iron & Steel and Pulp & Paper industries where empirical micro functions are estimated and aggregated into macro relations. The main empirical result is that the cost of reduction at the micro level reveal strong economics of scale while the opposite is true at the macro level. The elasticity of cost with respect to reduced emissions varies (at macro level) around 1.5, indicating that a 1 % increase in emission reduction increases cost with about 1.5 %.
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