The uniqueness of steady-state equilibrium under state-dependent pricing: The case of deflation

2021 ◽  
pp. 110136
Author(s):  
Shuhei Takahashi
2008 ◽  
Vol 55 (2) ◽  
pp. 383-405 ◽  
Author(s):  
A.Andrew John ◽  
Alexander L. Wolman

2020 ◽  
pp. 1-12
Author(s):  
Shuhei Takahashi

Does wage setting exhibit strategic complementarity and produce multiple equilibria? This study constructs a discrete-time New Keynesian model in which households choose the timing of their wage adjustments endogenously subject to fixed wage-setting costs. I explore steady-state equilibrium of the state-dependent wage-setting model both analytically and numerically. For reasonable parameter values, complementarity in wage setting is weak and the steady-state equilibrium is unique.


Author(s):  
Thomas Y.S. Lee

Models and analytical techniques are developed to evaluate the performance of two variations of single buffers (conventional and buffer relaxation system) multiple queues system. In the conventional system, each queue can have at most one customer at any time and newly arriving customers find the buffer full are lost. In the buffer relaxation system, the queue being served may have two customers, while each of the other queues may have at most one customer. Thomas Y.S. Lee developed a state-dependent non-linear model of uncertainty for analyzing a random polling system with server breakdown/repair, multi-phase service, correlated input processes, and single buffers. The state-dependent non-linear model of uncertainty introduced in this paper allows us to incorporate correlated arrival processes where the customer arrival rate depends on the location of the server and/or the server's mode of operation into the polling model. The author allows the possibility that the server is unreliable. Specifically, when the server visits a queue, Lee assumes that the system is subject to two types of failures: queue-dependent, and general. General failures are observed upon server arrival at a queue. But there are two possibilities that a queue-dependent breakdown (if occurs) can be observed; (i) is observed immediately when it occurs and (ii) is observed only at the end of the current service. In both cases, a repair process is initiated immediately after the queue-dependent breakdown is observed. The author's model allows the possibility of the server breakdowns/repair process to be non-stationary in the number of breakdowns/repairs to reflect that breakdowns/repairs or customer processing may be progressively easier or harder, or that they follow a more general learning curve. Thomas Y.S. Lee will show that his model encompasses a variety of examples. He was able to perform both transient and steady state analysis. The steady state analysis allows us to compute several performance measures including the average customer waiting time, loss probability, throughput and mean cycle time.


1978 ◽  
Vol 10 (04) ◽  
pp. 836-851 ◽  
Author(s):  
R. Schassberger

A generalized semi-Markov process with speeds describes the fluctuation, in time, of the state of a certain general system involving, at any given time, one or more living components, whose residual lifetimes are being reduced at state-dependent speeds. Conditions are given for the stationary state distribution, when it exists, to depend only on the means of some of the lifetime distributions, not their exact shapes. This generalizes results of König and Jansen, particularly to the infinite-state case.


2001 ◽  
Vol 114 (14) ◽  
pp. 2641-2648
Author(s):  
Jacqueline Franke ◽  
Barbara Reimann ◽  
Enno Hartmann ◽  
Matthias Köhler ◽  
Brigitte Wiedmann

The nascent polypeptide-associated complex (NAC) has been found quantitatively associated with ribosomes in the cytosol by means of cell fractionation or fluorescence microscopy. There have been reports, however, that single NAC subunits may be involved in transcriptional regulation. We reasoned that the cytosolic location might only reflect a steady state equilibrium and therefore investigated the yeast NAC proteins for their ability to enter the nucleus. We found that single subunits of yeast NAC can indeed be transported into the nucleus and that this transport is an active process depending on different nuclear import factors. Translocation into the nucleus was only observed when binding to ribosomes was inhibited. We identified a domain of the ribosome-binding NAC subunit essential for nuclear import via the importin Kap123p/Pse1p-dependent import route. We hypothesize that newly translated NAC proteins travel into the nucleus to bind stoichiometrically to ribosomal subunits and then leave the nucleus together with these subunits to concentrate in the cytosol.


2016 ◽  
Vol 20 (7) ◽  
pp. 1934-1952 ◽  
Author(s):  
Kirill Borissov

We consider a model of economic growth with altruistic agents who care about their consumption and the disposable income of their offspring. The agents' consumption and the offspring's disposable income are subject to positional concerns. We show that, if the measure of consumption-related positional concerns is sufficiently low and/or the measure of offspring-related positional concerns is sufficiently high, then there is a unique steady-state equilibrium, which is characterized by perfect income and wealth equality, and all intertemporal equilibira converge to it. Otherwise, in steady-state equilibria, the population splits into two classes, the rich and the poor; under this scenario, in any intertemporal equilibrium, all capital is eventually owned by the households that were the wealthiest from the outset and all other households become poor.


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