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Buyer Liability And Voluntary Inspections In International Greenhouse Gas Emissions Trading: A Laboratory Study, Timothy N. Cason

Purdue CIBER Working Papers

This paper reports a preliminary laboratory experiment in which traders make investments to increase the reliability of tradable instruments that represent greenhouse gas emissions allowances. In one half of the sessions these investments are unobservable, while in the other half traders can invite costless and accurate inspections that make reliability investments public. We implement a buyer liability rule, so that if emissions reductions are unreliable (i.e., sellers default), the buyer of the allowances cannot redeem them to cover emissions. We find that allowing inspections significantly increases the reliability investment rate and overall efficiency. Prices of uninspected allowances usually trade at …

Alternative Hypotheses And The Volume Of Trade: The Gravity Equation And The Extent Of Specialization, Jon Haveman, David Hummels

Purdue CIBER Working Papers

We examine why the gravity equation works and the implications for its use. There are three contributions. First, we demonstrate that the gravity equation as a statistical relationship (and not as a specific prediction about bilateral trade) can be generated from a model with incomplete specialization. Second, we analyze two facts or “puzzles” that are broadly inconsistent with the complete specialization models typically used to derive the gravity equation. In both cases, the data are consistent with the alternative hypothesis of incomplete specialization. “Home bias”, for example, is only puzzling when viewed through the lens of the complete specialization model. …

A Disinflation Tradeoff: Speed Versus Final Destination, John A. Carlson, Neven T. Valev

Purdue CIBER Working Papers

Does a central bank, when introducing a new monetary regime designed to reduce inflation, prefer more or fewer economic agents who form informed forecasts of inflation? The relevance of the question arises because the central bank can make a decision about how much information to disseminate about the nature of the new regime. We find that the central bank will prefer a higher proportion of agents who form rational expectations if it disinflates from a high level of inflation but not so if it disinflates from a moderate or low inflation level.

Time As A Trade Barrier, David Hummels

Purdue CIBER Working Papers

International trade occurs in physical space and moving goods requires time. This paper examines the importance of time as a trade barrier, estimates the magnitude of time costs, and relates these to patterns of trade and the international organization of production. Estimates indicate that each additional day spent in transport reduces the probability that the US will source from that country by 1 – 1.5 percent. Conditional on exporting country, estimates directly identify a willingness-to-pay for time savings using variation across exporters and commodities in the relative price / speed tradeoff for air and ocean shipping. Each day saved in …

The Evolution Of Hot Spots In The U.S. Biotechnology Industry, Timothy B. Folta, Yoon-Suk Baik

Purdue CIBER Working Papers

This study empirically tests Pouder & St. John's propositions (1996) on the evolutions of geographic clusters, in the context of the U.S. biotechnology industry. We find that during the origination period of the cluster evolution clustered biotechnology firms exhibit higher cost economies and legitimacy in obtaining resources than non-clustered competitors. While, after the early period, such clustered firms' advantage in resource access and innovations are statistically significantly declining. These findings evidence the decline of positive net benefits from geographic clustering over time. Given the inconsistent empirical results in the literature on whether there are positive net benefits to geographically clustered …

Heterogeneous Matching, Transferable Utility And Labor Market Outcomes, Alain Delacroix

Purdue CIBER Working Papers

A model of the labor market under search frictions is developed, where participants are heterogeneous with respect to their productivity types and the individual decision of which type of agents to match with is endogenized. Wages are negotiated, so that all gains from trade are exploited. This has important implications for the equilibrium outcomes. In particular, two applications are studied. It is observed that countries with high (low) unemployment tend to exhibit low (high) wage dispersion. And there is evidence showing that individual and firm characteristics have more explanatory power for the French than for the American wage data. The …

Fuzzy-Pid Methods For Controlling Evaporator Superheat, R. Q. Zhu, X. Q. Zheng, Y. Z. Wu

International Refrigeration and Air Conditioning Conference

No abstract provided.

Reciprocating Compressor Performance Simulation, R. Xin, P. Hatzikazakis

International Compressor Engineering Conference

No abstract provided.

Advanced Numerical Simulation Model Of Hermetic Reciprocating Compressors, J. Rigola, C. D. Perez-Segarra, A. Oliva, J. M. Serra, M. Escriba, J. Pons

International Compressor Engineering Conference

No abstract provided.

Dynamic Simulation Model Of A Reciprocating Compressor In A Refrigerator, G. Xie, P. K. Bansal

International Compressor Engineering Conference

No abstract provided.

2000 Bridge Sufficiency Rating Report For All Indiana Counties, Indiana Ltap

Indiana Local Technical Assistance Program (LTAP) Publications

This report provides bridge sufficiency rating information for each county bridge in each Indiana county. County officials can view a quick overall assessment of their bridge needs. This information is a convenient starting point for formulating a long-range plan to cope with their county bridge deficiencies.

China In 2005 Revisited: The Implications Of International Capital Mobility, Elena Ianchovichina, Robert Mcdougall, Thomas Hertel

GTAP Working Papers Archive

This paper revisits the analysis of the implications of China's economic growth on her trading partners presented in Arndt et al. (1997) using a dynamic, applied general equilibrium model that features international capital mobility.

We find that accounting for the impact of China's growth on international capital markets reverses some of the findings in the paper by Arndt et al. In particular, net creditor regions lose while net debtor regions benefit from an economic slowdown in China due to the resulting decline in the cost of capital.

Our analysis also reveals the importance of capital accumulation effects which interact with …

Contributing Input-Output Tables To The Gtap Data Base, Karen Huff, Robert Mcdougall, Terrie L. Walmsley

GTAP Technical Papers Archive

This document is written for those who wish to contribute to the GTAP data base, whether by providing an input-output table for a country not separately represented in the data base, or by updating the table for a region that is already represented. It provides specifications and advice on the structure of the table, sectoral classification, treatment of imports, and other key points. It also describes what we at the Center for Global Trade Analysis do once we receive your table.

This version has been revised for use by contributors to release 5 of the GTAP data base. In particular, …

A General Welfare Decomposition For Cge Models, Kevin J. Hanslow

GTAP Technical Papers Archive

Huff and Hertel (2001) derive a welfare decomposition for the equivalent variation in the GTAP model. The derivation appears to be very specific to GTAP. Nevertheless, it contains nearly all the ingredients required for performing welfare decomposition for any CGE model.

In this paper, the approach of Huff and Hertel (2001) is generalised to derive a welfare decomposition that can be applied to most, if not all, CGE models. General production and utility functions are accommodated, as are foreign income flows.

A brief guide to coding the proposed welfare decomposition in GEMPACK is also provided. The decomposition is applied to …

A Disequilibrium Model Of International Capital Mobility, Elena Ianchovichina, Robert Mcdougall, Thomas Hertel

GTAP Working Papers Archive

The paper proposes a new disequilibrium approach to modeling international capital mobility for a dynamic multi- region general equilibrium model. Key to this approach are errors in investors’ assessments of potential returns to capital, such as those recently observed in Asia. The investment theory, compatible with a simple recursive solution procedure, ensures the convergence of the model towards a stable equilibrium, brings realism into the analysis of international capital mobility and flexibility in tailoring to empirical data. The paper discusses two numerical examples, demonstrating the long- run convergence of the model and the dynamic adjustment to a deeper, longer crisis …

Decomposing Welfare Changes In The Gtap Model, Karen Huff, Thomas Hertel

GTAP Technical Papers Archive

This paper develops a complete decomposition of the change in global welfare in the GTAP model. In particular, this money metric change is broken down into component parts, each of which relates to a quantity change interacting with a distortion in the model. This enables the user to assess, for example, how much of the gains from trade reform are attributable to a given commodity and/or a given region. The commodity and region specific changes in allocative efficiency can be further decomposed by transaction/tax instrument. We find that this greatly facilitates the presentation and analysis of results from GTAP.

We …

Viscosity Of Mixed Refrigerants, R404a, R407c, R410a, And R507c, V. Z. Geller, D. Bivens, A. Yokozeki

International Refrigeration and Air Conditioning Conference

No abstract provided.

Real-Time Measurement Of The Oil Concentration In Liquid Refrigerant Flowing Inside A Refrigeration Machine, J. M. Lebreton, L. Vuillame, E. Morvan, O. Lottin

International Compressor Engineering Conference

No abstract provided.

Issues Surrounding Multiple Frames Of Reference Models For Turbo Compressor Applications, Z. Liu, D. L. Hill

International Compressor Engineering Conference

No abstract provided.

Using Computational Fluid Dynamics As A Compressor Design Tool, F. Fagotti, F. C. Possamai

International Compressor Engineering Conference

No abstract provided.

A Comprehensive Model Of Scroll Compressors Part I: Compression Process Modeling, Y. Chen, N. P. Halm, E. A. Groll, J. E. Braun

International Compressor Engineering Conference

No abstract provided.

Numerical Studies Of Refrigerating Liquid Overfeed Systems Working With Ammonia And R-134a, O. Garcia-Valladares, C. D. Perez-Segarra, C. Oliet, S. Danov

International Compressor Engineering Conference

No abstract provided.

Direct Torque Measurement Of Hermetic Rotary Compressors Using Strain Gauge, M. Matsushima, T. Nomura, N. Nishimura, H. Iyota, K. Inaba

International Compressor Engineering Conference

No abstract provided.

Multi Criteria Analysis Of The Supporting System Of A Reciprocating Compressor, M. Lamantia, A. Faraon, A. Solari

International Compressor Engineering Conference

No abstract provided.

Key Problems Of The Tests During The Development Of Rolling Piston Compressors For Room Air-Conditioners Using R407c As Refrigerant, C. Zhao, Y. Xu, Z. Su

International Compressor Engineering Conference

No abstract provided.

Review Of Variable Geometry Techniques Applied To Enhance The Performance Of Centrifugal Compressors, A. Whitfield

International Compressor Engineering Conference

No abstract provided.

Effect Of Lubricant Properties On Efficiency Of Refrigeration Compressors, S. Boyde, S. Randles, P. Gibb, S. Corr, P. Dowdle, A. Mcnicol, R. Bailey, S. Colmery, M. Shoji

International Compressor Engineering Conference

No abstract provided.

Investigation Of The Vapour Liquid Equilibrium Behaviour Of Blends Comprising R125, R134a And R600 Or R600a, N. A. Roberts, S. H. Jawad

International Refrigeration and Air Conditioning Conference

No abstract provided.

In-Situ Evaporator Heat Transfer Experiments For Domestic Refrigerators, M. Janssen, J. Wijnstekers, P. Beks, L. Kuijpers

International Refrigeration and Air Conditioning Conference

No abstract provided.

Performance Of R-22, R-407c And R-410a At Constant Cooling Capacity In A 10, J. W. Linton, W. K. Snelson, P. F. Hearty

International Refrigeration and Air Conditioning Conference

No abstract provided.