scholarly journals Computational Analysis of the Properties of Post-Keynesian Endogenous Money Systems

2021 ◽  
Vol 14 (7) ◽  
pp. 335
Author(s):  
Stef Kuypers ◽  
Thomas Goorden ◽  
Bruno Delepierre
Keyword(s):  
Growth Rate ◽  
Steady State ◽  
Real World ◽  
Money Stock ◽  
Monetary System ◽  
Monetary Systems ◽  
State Economy ◽  
Endogenous Money ◽  
New Perspective ◽  
The Stability

The debate about whether or not a growth imperative exists in debt-based, interest-bearing monetary systems has not yet been settled. It is the goal of this paper to introduce a new perspective in this discussion. For that purpose, an SFC computational model is constructed that simulates a post-Keynesian endogenous money system without including economic parameters such as production, wages, consumption and savings. The case is made that isolating the monetary system allows for better analysis of the inherent properties of such a system. Loan demands, which are assumed to happen, are the driving force of the model. Simulations can be run in two modes, each based on a different assumption. Either the growth rate of the money stock is assumed to be constant or the loan ratio, expressed as a percentage of the money stock, is assumed to be constant. Simulations with varying parameters were run in order to determine the conditions under which the model converges to stability, which is defined as converging to a bounded debt ratio. The analysis showed that the stability of the model is dependent on net bank profit ratios, expressed relative to their debt assets, remaining below the growth rate of the money stock. Based on these findings, it is argued that the question about the existence of a growth imperative in debt-based, interest-bearing monetary systems needs to be reframed. The question becomes whether a steady-state economy can realistically support such a system without destabilising it. In order to answer this question, the real-world behaviour of economic actors must be included in the model. It was concluded that there are indications that it might not be feasible for a steady-state economy to support a stable debt-based, interest-bearing monetary system without strong interventions. However, more research is necessary for a definite answer. Real-world observable data should be analysed through the lens of the presented model to bring more clarity.

scholarly journals Computational Analysis of the Properties of Post-Keynesian Endogenous Money Systems

2021 ◽  
Author(s):  
Stef Kuypers ◽  
Thomas Goorden ◽  
Bruno Delepierre
Keyword(s):  
Growth Rate ◽  
Computational Analysis ◽  
Money Stock ◽  
Loan Rate ◽  
Monetary System ◽  
Good Account ◽  
Endogenous Money ◽  
Observable Data ◽  
New Perspective ◽  
Policy Discussion

“Money has always been something of an embarrassment to economic theory. Everyone agrees that it isimportant; indeed, much of macroeconomic policy discussion makes no sense without reference to money.Yet, for the most part theory fails to provide a good account for it.”(Banerjee and Maskin, 1996, p. 955)The debate about whether or not a growth imperative exists in debt based, interest bearing mone-tary systems has not yet been settled. It is the goal of this paper to introduce a new perspective inthis discussion.For that purpose an SFC computational model is constructed which simulates a post KeynesianEndogenous Money system without including economic parameters such as production, wages,consumption and savings. A case is made that isolating the monetary system allows for betteranalysis of the inherent properties of such a system.Loan demands, which are assumed to happen, are the driving force of the model. Simulationscan be run in 2 modes, each based on a different assumption. Either the growth rate of the moneystock is assumed to be constant or the loan rate, expressed as a percentage of the money stock, isconsidered to be constant.Simualtions with varying parameters are run in order to determine the conditions under whichthe model converges to stability, which is defined as converging to a bounded debt rate.The analysis shows that stability of the model is dependent on net bank profit ratios, expressedrelative to their debt assets, remaining below the growth rate of the money stock. Based on thesefindings it is argued that the question about the existence of a growth imperative in debt based,interest bearing monetary systems needs to be reframed. The question becomes whether a steadystate economy can support such a system without destabilizing it.It is concluded that there are indications that this might not be the case. However, for a definiteanswer more research is necessary. Real world observable data should be analysed through thelens of the presented model to bring more clarity.

scholarly journals Polyamine, Magnesium and Ribonucleic Acid Levels in Steady-state Cultures of the Mould Aspergillus nidulans

Microbiology ◽  
2000 ◽  
Vol 81 (1) ◽  
pp. 271-273 ◽  
Author(s):  
M. E. Bushell ◽  
A. T. Bull
Keyword(s):  
Growth Rate ◽  
Steady State ◽  
Aspergillus Nidulans ◽  
Culture Conditions ◽  
Magnesium Ions ◽  
Ribonucleic Acids ◽  
Inorganic Cations ◽  
State Growth ◽  
The Stability ◽  
Cell Free Protein Synthesis

Results from experiments in vitro strongly suggest that major roles can be ascribed to polyamines in controlling the stability, activity and synthesis of ribonucleic acids. Furthermore, functional substitution of polyamines for inorganic cations, particularly magnesium ions, in cell-free protein synthesis is well substantiated (see Cohen, 1971). Recently we have been analysing the effects of culture conditions on the chemical composition of Aspergillus nidulans and have found fluctuations in polyamine and magnesium concentrations in response to a changing environment, while biomass and RNA remained constant. This paper describes the influence of steady-state growth rate on hyphal concentrations of spermidine, spermine and Mg2+ ions.

Reexamination of the Serendipity Theorem from the stability viewpoint

2019 ◽  
Vol 85 (1) ◽  
pp. 43-70
Author(s):  
Akira Momota ◽  
Tomoya Sakagami ◽  
Akihisa Shibata
Keyword(s):  
Growth Rate ◽  
Steady State ◽  
Population Growth ◽  
Numerical Simulations ◽  
Policy Implication ◽  
Population Growth Rate ◽  
Golden Rule ◽  
The Social ◽  
The Stability ◽  
Parameter Values

AbstractThis paper reexamines the Serendipity Theorem of Samuelson (1975) from the stability viewpoint, and shows that, for the Cobb–Douglas preference and CES technology, the most-golden golden-rule lifetime state being stable depends on parameter values. In some situations, the Serendipity Theorem fails to hold despite the fact that steady-state welfare is maximized at the population growth rate, since the steady state is unstable. Through numerical simulations, a more general case of CES preference and CES technology is also examined, and we discuss the realistic relevance of our results. We present the policy implication of our result, that is, in some cases, the steady state with the highest utility is unstable, and thus a policy that aims to achieve the social optima by manipulating the population growth rate may lead to worse outcomes.

Allee Effect in Prey versus Hunting Cooperation on Predator — Enhancement of Stable Coexistence

2019 ◽  
Vol 29 (06) ◽  
pp. 1950081 ◽  
Author(s):  
Deeptajyoti Sen ◽  
S. Ghorai ◽  
Malay Banerjee
Keyword(s):  
Growth Rate ◽  
Steady State ◽  
Allee Effect ◽  
Interaction Model ◽  
Type Model ◽  
Predator Density ◽  
Predator Foraging ◽  
The Stability ◽  
Generalized Type ◽  
Type Ii Functional Response

Predator foraging facilitation or cooperative hunting increases per predator consumption rate as predator density increases. This affects predator extinction in a prey–predator interaction model when the predator density is low. This is an indication of Allee effect in predator’s growth rate. Here, we take a Gause type model with a generalized type II functional response which depends on both prey and predator densities. We also assume that prey’s growth is subjected to Allee effect. Strong Allee effect in prey’s growth rate enhances the stability of the coexisting steady state. A region is found in a two-parameter plane where the coexisting steady state is a global attractor when the prey’s growth is subjected to weak Allee effect. In addition, codimension two bifurcation points (cusp and Bogdanov–Takens points) have also been found in the bifurcation diagram.

Changing Composition and Growth Performance of Services Sector in India after Liberalization

2020 ◽  
pp. 432-436
Keyword(s):  
Growth Rate ◽  
Growth Performance ◽  
Direct Investment ◽  
Service Sector ◽  
World Market ◽  
Limiting Factor ◽  
Arunachal Pradesh ◽  
Services Sector ◽  
State Economy ◽  
The World

This present study makes an analysis of changing contribution of sub-sector and composition and growth performance in Indian economy. In addition to that, the contribution of sub-sector of service sector in state economy. The results revealed that the growth rate of Chandigarh was high due to providing especial emphasis on dominating sub-sectors of services and its most preferred destination for technology whereas, Sikkim and Arunachal Pradesh due to geographical and environmental conditions development were higher in floriculture and agriculture, although, tourism emerged as a new profession and have different opportunities. Apart of that, in the wake of some challenges in the form of lack of infrastructure, recent crisis in the world market, foreign direct investment (FDI) restrictions and outsourcing backlash were major limiting factor.

The Stability of Steady-State Depth Distributions of Marine Phytoplankton

1974 ◽  
Vol 108 (963) ◽  
pp. 679-687 ◽  
Author(s):  
W. O. Criminale, ◽  
D. F. Winter
Keyword(s):  
Steady State ◽  
Marine Phytoplankton ◽  
The Stability ◽  
Depth Distributions

scholarly journals Steady-state $$\dot{V}{\text{O}}_{2}$$ above MLSS: evidence that critical speed better represents maximal metabolic steady state in well-trained runners

2021 ◽  
Author(s):  
Rebekah J. Nixon ◽  
Sascha H. Kranen ◽  
Anni Vanhatalo ◽  
Andrew M. Jones
Keyword(s):  
Steady State ◽  
Critical Speed ◽  
Lactate Concentration ◽  
Practical Interest ◽  
Blood Lactate Concentration ◽  
Distance Runners ◽  
Severe Intensity ◽  
The Stability ◽  
Trained Runners ◽  
Over Time

AbstractThe metabolic boundary separating the heavy-intensity and severe-intensity exercise domains is of scientific and practical interest but there is controversy concerning whether the maximal lactate steady state (MLSS) or critical power (synonymous with critical speed, CS) better represents this boundary. We measured the running speeds at MLSS and CS and investigated their ability to discriminate speeds at which $$\dot{V}{\text{O}}_{2}$$ V ˙ O 2 was stable over time from speeds at which a steady-state $$\dot{V}{\text{O}}_{2}$$ V ˙ O 2 could not be established. Ten well-trained male distance runners completed 9–12 constant-speed treadmill tests, including 3–5 runs of up to 30-min duration for the assessment of MLSS and at least 4 runs performed to the limit of tolerance for assessment of CS. The running speeds at CS and MLSS were significantly different (16.4 ± 1.3 vs. 15.2 ± 0.9 km/h, respectively; P < 0.001). Blood lactate concentration was higher and increased with time at a speed 0.5 km/h higher than MLSS compared to MLSS (P < 0.01); however, pulmonary $$\dot{V}{\text{O}}_{2}$$ V ˙ O 2 did not change significantly between 10 and 30 min at either MLSS or MLSS + 0.5 km/h. In contrast, $$\dot{V}{\text{O}}_{2}$$ V ˙ O 2 increased significantly over time and reached $$\dot{V}{\text{O}}_{2\,\,\max }$$ V ˙ O 2 max at end-exercise at a speed ~ 0.4 km/h above CS (P < 0.05) but remained stable at a speed ~ 0.5 km/h below CS. The stability of $$\dot{V}{\text{O}}_{2}$$ V ˙ O 2 at a speed exceeding MLSS suggests that MLSS underestimates the maximal metabolic steady state. These results indicate that CS more closely represents the maximal metabolic steady state when the latter is appropriately defined according to the ability to stabilise pulmonary $$\dot{V}{\text{O}}_{2}$$ V ˙ O 2 .

scholarly journals Asymmetry underlies stability in power grids

2021 ◽  
Vol 12 (1) ◽  
Author(s):  
Ferenc Molnar ◽  
Takashi Nishikawa ◽  
Adilson E. Motter
Keyword(s):  
Symmetry Breaking ◽  
Real World ◽  
Power Grids ◽  
Stable Operation ◽  
World Systems ◽  
Symmetric State ◽  
Network Systems ◽  
Additional Improvement ◽  
The Stability ◽  
General Method

AbstractBehavioral homogeneity is often critical for the functioning of network systems of interacting entities. In power grids, whose stable operation requires generator frequencies to be synchronized—and thus homogeneous—across the network, previous work suggests that the stability of synchronous states can be improved by making the generators homogeneous. Here, we show that a substantial additional improvement is possible by instead making the generators suitably heterogeneous. We develop a general method for attributing this counterintuitive effect to converse symmetry breaking, a recently established phenomenon in which the system must be asymmetric to maintain a stable symmetric state. These findings constitute the first demonstration of converse symmetry breaking in real-world systems, and our method promises to enable identification of this phenomenon in other networks whose functions rely on behavioral homogeneity.

Stability of bounded rapid shear flows of a granular material

1996 ◽  
Vol 308 ◽  
pp. 31-62 ◽  
Author(s):  
Chi-Hwa Wang ◽  
R. Jackson ◽  
S. Sundaresan
Keyword(s):  
Growth Rate ◽  
Stability Analysis ◽  
Granular Material ◽  
Bulk Density ◽  
Particulate Material ◽  
Dominant Mode ◽  
Marginal Stability ◽  
Sheared Layer ◽  
The Stability ◽  
Unusual Type

This paper presents a linear stability analysis of a rapidly sheared layer of granular material confined between two parallel solid plates. The form of the steady base-state solution depends on the nature of the interaction between the material and the bounding plates and three cases are considered, in which the boundaries act as sources or sinks of pseudo-thermal energy, or merely confine the material while leaving the velocity profile linear, as in unbounded shear. The stability analysis is conventional, though complicated, and the results are similar in all cases. For given physical properties of the particles and the bounding plates it is found that the condition of marginal stability depends only on the separation between the plates and the mean bulk density of the particulate material contained between them. The system is stable when the thickness of the layer is sufficiently small, but if the thickness is increased it becomes unstable, and initially the fastest growing mode is analogous to modes of the corresponding unbounded problem. However, with a further increase in thickness a new mode becomes dominant and this is of an unusual type, with no analogue in the case of unbounded shear. The growth rate of this mode passes through a maximum at a certain value of the thickness of the sheared layer, at which point it grows much faster than any mode that could be shared with the unbounded problem. The growth rate of the dominant mode also depends on the bulk density of the material, and is greatest when this is neither very large nor very small.

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