Stock-Flow Models of Market Frictions and Search

2020 ◽  
Author(s):  
Eric Smith
Keyword(s):  
Explanatory Variable ◽  
Temporary Employment ◽  
The Other ◽  
Exit Rate ◽  
Viable Option ◽  
Empirical Relationships ◽  
Flow Models ◽  
Differentiated Goods ◽  
Empirical Regularities ◽  
Stock Flow

Stock-flow matching is a simple and elegant framework of dynamic trade in differentiated goods. Flows of entering traders match and exchange with the stocks of previously unsuccessful traders on the other side of the market. A buyer or seller who enters a market for a single, indivisible good such as a job or a home does not experience impediments to trade. All traders are fully informed about the available trading options; however, each of the available options in the stock on the other side of the market may or may not be suitable. If fortunate, this entering trader immediately finds a viable option in the stock of available opportunities and trade occurs straightaway. If unfortunate, none of the available opportunities suit the entrant. This buyer or seller now joins the stocks of unfulfilled traders who must wait for a new, suitable partner to enter. Three striking empirical regularities emerge from this microstructure. First, as the stock of buyers does not match with the stock of sellers, but with the flow of new sellers, the flow of new entrants becomes an important explanatory variable for aggregate trading rates. Second, the traders’ exit rates from the market are initially high, but if they fail to match quickly the exit rates become substantially slower. Third, these exit rates depend on different variables at different phases of an agent’s stay in the market. The probability that a new buyer will trade successfully depends only on the stock of sellers in the market. In contrast, the exit rate of an old buyer depends positively on the flow of new sellers, negatively on the stock of old buyers, and is independent of the stock of sellers. These three empirical relationships not only differ from those found in the familiar search literature but also conform to empirical evidence observed from unemployment outflows. Moreover, adopting the stock-flow approach enriches our understanding of output dynamics, employment flows, and aggregate economic performance. These trading mechanics generate endogenous price dispersion and price dynamics—prices depend on whether the buyer or the seller is the recent entrant, and on how many viable traders were waiting for the entrant, which varies over time. The stock-flow structure has provided insights about housing, temporary employment, and taxicab markets.

Multicointegration in Stock-Flow Models

1999 ◽  
Vol 61 (2) ◽  
pp. 237-254 ◽  
Author(s):  
Tom Engsted ◽  
Niels Haldrup
Keyword(s):  
Flow Models ◽  
Stock Flow

LEGAL BASIS FOR TEMPORARY EMPLOYMENT

2021 ◽  
Vol specjalny (XXI) ◽  
pp. 275-285
Author(s):  
Ludwik Florek
Keyword(s):  
Temporary Employment ◽  
Employment Relationship ◽  
The Other ◽  
Legal Basis ◽  
Short Term ◽  
Employment Agency ◽  
Other Hand

Temporary employment is based on a modified employment relationship. Its essence is to recognize the entity using the employee’s work as the employer user. This allows him to be relieved of some of the duties of the employer who takes over the temporary employment agency. This makes it easier for employers to hire an employee in the short term. This also creates additional jobs. On the other hand, this entails the development of a legal basis for such employment. There may also be doubts as to who is in charge of certain obligations of the employer.

27. Choice of business medium

2018 ◽  
Author(s):  
J. Scott Slorach ◽  
Jason Ellis
Keyword(s):  
Social Security ◽  
Limited Liability ◽  
Capital Gains ◽  
The Other ◽  
Viable Option ◽  
Inheritance Tax ◽  
The One ◽  
Limited Liability Partnership ◽  
Business Media ◽  
Capital Expense

This chapter makes a comparison between companies, on the one hand, and partnerships or sole traders, on the other, in order to explain the various factors which should be taken into account when choosing the two business media. It considers factors such as risk of capital, expense, publicity, taxation, interest relief, capital gains, inheritance tax, pensions and social security Due to the range of variables, the desirability of limited liability means that incorporation may be the only viable option, although this can also be achieved by setting up a limited liability partnership. Where limited liability is not of great importance, the tax factors will be more significant and these would have to be examined from a number of perspectives, including the size of anticipated profits, the particular financial circumstances of the promoters of the business, and any particular expectations they had about their stake in the business.

Epithelial Insert Trial for Retention of Prosthetic Hair Replacement

1998 ◽  
Vol 15 (2) ◽  
pp. 151-154
Author(s):  
Anthony S. Pignataro
Keyword(s):  
Scalp Hair ◽  
The Other ◽  
Viable Option ◽  
Infectious Process ◽  
Future Studies ◽  
Pilot Hole ◽  
Dental Technology

Introduction: Success in the retention of prosthetic teeth has led the author to believe that dental technology could be applied to scalp hair retention. The question to be answered is, “Can epithelial inserts work for prosthetic hair replacement?” Material and Methods: One volunteer was utilized to test the epithelial insert for prosthetic hair replacement. A pilot hole was drilled into the scalp on each side. On one side, a 5-mm mucosal insert was used, and on the other side, a 9-mm mucosal insert that engaged the underlying bone was utilized. Results: Pain, inflammation, discharge, and induration occurred in both implants. The implants were removed at the end of 6 weeks; there was no maturation of either one. Discussion: At the present time, epithelial inserts for retention of prosthetic hair replacement are not a viable option. Perhaps future studies can be designed to prevent the inflammatory and infectious process.

William James, John Dewey, and the ‘Death-of-God’

1971 ◽  
Vol 7 (1) ◽  
pp. 53-61
Author(s):  
John K. Roth
Keyword(s):  
John Dewey ◽  
William James ◽  
The Other ◽  
Viable Option ◽  
Death Of God ◽  
Other Hand ◽  
American Tradition ◽  
American Thought

Basic issues in the recent ‘death-of-God’ movement can be illuminated by comparison and contrast with the relevant ideas of two American philosophers, John Dewey and William James. Dewey is an earlier spokesman for ideas that are central to the ‘radical theology’ of Thomas J. J. Altizer, William Hamilton, and Paul Van Buren. His reasons for rejecting theism closely resemble propositions maintained by these ‘death-of-God’ theologians. James, on the other hand, points toward a theological alternative. He takes cognizance of ideas similar to those in the ‘radical theology’, but he does not opt for either a metaphorical or real elimination of God. Thus, the contentions of this paper are (1) that there has been a version of the ‘death-of-God’ perspective in American thought before, and (2) that there are resources in the American tradition that suggest a viable option to this perspective.

scholarly journals Advertising, Market Share, And Profitability In The Greek Consumer Industry

2011 ◽  
Vol 3 (9) ◽  
Author(s):  
Zoe Ventoura–Neokosmidi
Keyword(s):  
Cross Section ◽  
Market Share ◽  
Empirical Investigation ◽  
Explanatory Variable ◽  
Positive Impact ◽  
The Other ◽  
Firm Profitability ◽  
Fast Moving Consumer Goods ◽  
The Relationship ◽  
Section Analysis

An empirical investigation of the relationship between advertising to sales ratio, market share and firm profitability was carried out. Cross section analysis was used over 36 companies that produce fast moving consumer goods, for the year 2002. This paper finds that market share has a positive impact on firm profitability. In contrast to our expectation, the influence of market share is greater than that of advertising to sales ratio. To further examine the contribution of each explanatory variable after the other has been included in the model, the partial F?test was used. The obtained results verify the cross section analysis results.

scholarly journals Reconstructing coupled time series in climate systems using three kinds of machine-learning methods

2020 ◽  
Vol 11 (3) ◽  
pp. 835-853
Author(s):  
Yu Huang ◽  
Lichao Yang ◽  
Zuntao Fu
Keyword(s):  
Neural Network ◽  
Machine Learning ◽  
Time Series ◽  
Explanatory Variable ◽  
The Other ◽  
Nonlinear Coupling ◽  
Linear Coupling ◽  
Explanatory Variables ◽  
Machine Learning Methods ◽  
Reconstruction Quality

Abstract. Despite the great success of machine learning, its application in climate dynamics has not been well developed. One concern might be how well the trained neural networks could learn a dynamical system and what will be the potential application of this kind of learning. In this paper, three machine-learning methods are used: reservoir computer (RC), backpropagation-based (BP) artificial neural network, and long short-term memory (LSTM) neural network. It shows that the coupling relations or dynamics among variables in linear or nonlinear systems can be inferred by RC and LSTM, which can be further applied to reconstruct one time series from the other. Specifically, we analyzed the climatic toy models to address two questions: (i) what factors significantly influence machine-learning reconstruction and (ii) how do we select suitable explanatory variables for machine-learning reconstruction. The results reveal that both linear and nonlinear coupling relations between variables do influence the reconstruction quality of machine learning. If there is a strong linear coupling between two variables, then the reconstruction can be bidirectional, and both of these two variables can be an explanatory variable for reconstructing the other. When the linear coupling among variables is absent but with the significant nonlinear coupling, the machine-learning reconstruction between two variables is direction dependent, and it may be only unidirectional. Then the convergent cross mapping (CCM) causality index is proposed to determine which variable can be taken as the reconstructed one and which as the explanatory variable. In a real-world example, the Pearson correlation between the average tropical surface air temperature (TSAT) and the average Northern Hemisphere SAT (NHSAT) is weak (0.08), but the CCM index of NHSAT cross mapped with TSAT is large (0.70). And this indicates that TSAT can be well reconstructed from NHSAT through machine learning. All results shown in this study could provide insights into machine-learning approaches for paleoclimate reconstruction, parameterization scheme, and prediction in related climate research.Highlights: i The coupling dynamics learned by machine learning can be used to reconstruct time series. ii Reconstruction quality is direction dependent and variable dependent for nonlinear systems. iii The CCM index is a potential indicator to choose reconstructed and explanatory variables. iv The tropical average SAT can be well reconstructed from the average Northern Hemisphere SAT.

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