This paper analyzes the impact of cyclical volatility on long-term economic growth: does growth increase or decrease with increased cyclical volatility? We construct a stochastic two-sector model of ...
Economic Theory, Vol. 29, No. 2, Symposium in Honor of Mukul Majumdar (Oct., 2006), pp. 341-362 (22 pages) We highlight two features of undiscounted optimal growth in the context of a two-sector model ...
The S&P 500 is divided into 11 sectors and each sector can be traded using its own exchange-traded fund. The Technology Select Sector SPDR ETF is the outperformer year-to-date. This sector includes ...
Abstract elementary classes (AECs) constitute a broad framework within model theory that extends classical first‐order logic, accommodating structures and theories that lie beyond its reach. By ...