A growth model with shocks to technology is studied. Labor is indivisible, so all variability in hours worked is due to fluctuations in the number employed. We find that, unlike previous equilibrium models of the business cycle, this economy displays large fluctuations in hours worked

A genetical mathematical model is described which allows for interactions between relatives on one another's fitness. Making use of Wright's Coefficient of Relationship as the measure of the proportion of replica genes in a relative, a quantity is found which incorporates the maximizing

I develop a general equilibrium model with sticky prices, credit constraints, nominal loans and asset prices. Changes in asset prices modify agents ’ borrowing capacity through collateral value; changes in nominal prices affect real repayments through debt deflation. Monetary policy shocks move

to control the creation and evolution of models. Mathematically, the approach prescribes systems of dynamic (ordinary and partial) differential equations to govern model behavior. These equations of motion may be

and applications to support evolving business processes. Workflow technology facilitates these by providing methodologies and software to support (i) business process modeling to capture business processes as workflow specifications, (ii) business process reengineering to optimize specified processes, and (iii

software developers are using the Java language as the language of choice on many applications. This is due to the effective use of the object-oriented (OO) paradigm to develop large software projects and the ability of the Java language to support the increasing use of web technologies in business

Existing models for describing a process (such as a business process or a software development process) tend to focus on the \what " or the \how " of the process. For example, a health insurance claim process would typically be described in terms of a number of steps for assessing

a tendency for laissez-faire economies to generate too many innovations, i.e too much growth. This "business-stealing" effect is partly compensated by the fact that innovations tend to be too small under laissez-faire. The model possesses a unique balanced growth equilibrium in which

focus on corporate financial management. There is no need in this meeting of the guild to recount the subsequent evolution from this conceptual potpourri to a rigorous economic

. The unbounded error growth found in the extended Kalman filter, which is caused by an overly simplified closure in the error covariance equation, is completely eliminated. Open boundaries can be handled as long as the ocean model is well posed. Well-known numerical instabilities associated with the error