The last decade has seen a lively debate in macroeconomics, with an increasing criticism on the model that seemed to be dominant in literature since the end of the 1990's, the Dynamic Stochastic General Equilibrium (DSGE, hereafter) and, consequently, the birth of some new theoretical approaches and methodologies"--
This book relates the literatures of finance, industrial economics and investment to the theoretical framework of the 'credit view'. Firstly it is assumed that banks' decisions concerning their assets are seen as at least as relevant as their decisions concerning their liabilities. Secondly, securities and bank credit are considered to be highly imperfect substitutes. In this regard it is important to investigate the way industrial and financial sectors interact. In particular, how is the macroeconomy affected by the phenomenon of 'securitization' and by exogenous changes in the industrial structure of the credit market. The interactions between real and financial sectors are also analysed from the point of view of the industrial firm, in a model where the investment and financial decisions of the firm are taken simultaneously.
For several decades now, mobile robots have been integral to the development of new robotic systems for new applications, even in nontechnical areas. Mobile robots have already been developed for such uses as industrial automation, medical care, space exploration, demining operations, surveillance, entertainment, museum guides and many other industrial and non-industrial applications. In some cases these products are readily available on the market. A considerable amount of literature is also available; not all of which pertains to technical issues, as listed in the chapters of this book and its companion. Readers will enjoy this book and its companion and will utilize the knowledge gained with satisfaction and will be assisted by its content in their interdisciplinary work for engineering developments of mobile robots, in both old and new applications. This book and its companion can be used as a graduate level course book or a guide book for the practicing engineer who is working on a specific problem which is described in one of the chapters. The companion volume for this book, Mobile Robots for Dynamic Environments, is also available from Momentum Press.
Hellenistic poets of the third and second centuries BC were concerned with the need both to mark their continuity with the classical past and to demonstrate their independence from it. In this revised and expanded translation of Muse e modelli: la poesia ellenistica da Alessandro Magno ad Augusto, Greek poetry of the third and second centuries BC and its reception and influence at Rome are explored allowing both sides of this literary practice to be appreciated. Genres as diverse as epic and epigram are considered from a historical perspective, in the full range of their deep-level structures, providing a different perspective on the poetry and its influence at Rome. Some of the most famous poetry of the age such as Callimachus' Aitia and Apollonius' Argonautica is examined. In addition, full attention is paid to the poetry of encomium, in particular the newly published epigrams of Posidippus, and Hellenistic poetics, notably Philodemus.
The birth and death of firms is one of the main features of the business cycle. Yet mainstream DGSE macroeconomic models mostly ignore this phenomenon, thereby excluding any potential impact of economic policy on the probability of the birth and death of firms. Those DGSE models that do allow for this phenomenon do so at the cost of drastic simplifications, which effectively rule out causal links between the strategic interaction of industrial firms and the macroeconomy. This innovative new book develops a bottom-up, agent-based framework that shows how strategic interactions at the level of oligopolistic firms, and even at the level of individuals, affect entire industrial sectors and the equilibrium of the macroeconomy. It will appeal to academic researchers and graduate students working in computational economics, agent-based modelling and econophysics, as well as mainstream economists interested in learning more about alternatives to DGSE models in macroeconomics.
This book relates the literatures of finance, industrial economics and investment to the theoretical framework of the 'credit view'. Firstly it is assumed that banks' decisions concerning their assets are seen as at least as relevant as their decisions concerning their liabilities. Secondly, securities and bank credit are considered to be highly imperfect substitutes. In this regard it is important to investigate the way industrial and financial sectors interact. In particular, how is the macroeconomy affected by the phenomenon of 'securitization' and by exogenous changes in the industrial structure of the credit market. The interactions between real and financial sectors are also analysed from the point of view of the industrial firm, in a model where the investment and financial decisions of the firm are taken simultaneously.
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