Visualization of time-dependent dynamics of postglacial rebound

Postglacial rebound is a major geological process which plays an important role in many areas in the earth sciences. Up to now, most of the images derived from studies of the glacial isostatic adjustment phenomenon have been concerned with surface signatures, such as the uplift and gravity anomalies and not much attention has been paid on the dynamical responses in the mantle. We will make use of the 3D visualization package Amira to depict both the external and internal deformation histories of the transient viscoelastic flow inside the mantle induced by postglacial uplift. Of particularly great interest are the transient displacement fields and shear heating inside the mantle. This same visualization technology can be brought to bear in the future for visualizing tsunami waves in ocean basins excited by earthquakes, volcanic eruptions and InSAR images. We have also integrated the visualization results into the Google Earth virtual globe by combining this scheme with the Amira package to provide a better geographical and dynamical context.     

WILL THE “TRUE” LABOR SHARE STAND UP? AN APPLIED SURVEY ON LABOR SHARE MEASURES

Labor's share of income is a key variable in economics. It plays a leading role in analysis of (in)equality, globalization, technical change, growth theories, etc. Notwithstanding this broad application, there are many different definitions of the labor share. Understanding and synthesizing those differences is the purpose of this applied survey. Empirical measures may vary reflecting the allocation of income components that cannot be directly ascribed to capital or labor. We examine the alternative assumptions made in the literature in this regard and quantify and motivate the resulting discrepancies. Focusing (mostly) on US data, we show that different measures can have very distinct properties in terms of the observed stochastic trends, shares of short‐, medium‐, and long‐run variation and volatilities, persistence and mean‐reversion properties, and susceptibility to structural breaks. For instance, while “short‐run” properties of the surveyed labor share measures are relatively consistent across all definitions (and countercyclical), their “medium‐” and “long‐run” trends may diverge substantially (and are procyclical). To substantiate our analysis, we document the implications of discrepancies in the empirical labor share definition for growth accounting, analyzing the effect of technology shocks, and for estimating inflation dynamics.     

Simulation model of the polish economy

This paper presents some results of the simulation model of the Polish economy in transition from the planned to market one. The simulation model is nonlinear and dynamic. It consists of 800 balance equations, 40 of which are difference state equations. The basic time unit is one quarter while the calculation horizon spans between three and 10 years. It was calibrated to the 1994–96 statistical data. The model contains the aggregates of production (divided between the state and private sectors and three production branches), households, public sector, banking system, and foreign trade. The simulation attempts to forecast chosen macroeconomic variables resulting from different scenarios. Sets of effective (Pareto-optimal) solutions and effective growth paths of economy were obtained. The simulation results help to better understand the macroeconomic process in the transition period and can be useful for central-level decisionmakers. This work was partially supported by grant No. 1 HO2B 023 09 from Komitet Badan Naukowych (Polish State Committee for Scientific Research).     

Tractable dynamic global games and applications

We present a family of tractable dynamic global games and its applications. Agents privately learn about a fixed fundamental, and repeatedly adjust their investments while facing frictions. The game exhibits many externalities: payoffs may depend on the volume of investment, on its volatility, and on its concentration. The solution is driven by an invariance result: aggregate investment is (in a pivotal contingency) invariant to a large family of frictions. We use the invariance result to examine how frictions, including those similar to the Tobin tax, affect equilibrium. We identify conditions under which frictions discourage harmful behavior without compromising investment volume.     

Inequality and growth: What comes from the different inequality measures?

The objective of the paper is to verify if income inequality impedes the growth rates in OECD countries in the period of 1990–2014 and to reveal whether the choice of the income inequality measure determines the sign and the strength of the estimated relationship. We use system GMM to estimate parameters of a dynamic panel growth model. The research indicates that income inequality negatively affects economic growth. We also find evidence that various measures of inequality bring the different scale of consequences for economic growth, with measures that give more weight to the middle part of the distribution being the weakest predictor of GDP growth. Simultaneously, we present the test of weak instruments, which helps to explain these differences.     

Production functions and distributions of unit factor productivities: Uncovering the link

We derive a reversible “endogenous technology choice transform,” according to which firm-level production functions and distributions of unit factor productivities are two sides of the same coin. The Cobb–Douglas function relates to Pareto distributions, and the CES to Weibull distributions.     

Unemployment of Non-Western Immigrants in the Great Recession

This paper examines whether unemployment of non-western immigrant workers in the Netherlands was disproportionally affected by the Great Recession. We analyze unemployment data covering the period November 2007–February 2013 finding that the Great Recession affected unemployment rates of non-western immigrant workers in absolute terms more than unemployment rates of native workers. However, in relative terms there is not much of a difference. We also find that the sensitivity of individual job finding rates to the aggregate state of the labor market does not differ between natives and non-western immigrants. In combination our findings suggest that the Great Recession did not have a different impact on the unemployment of non-westerns immigrants and native Dutch.     

The Influence of Light on Consumer Behavior at the Food Market

The article deals with a comprehensive, interdisciplinary examination of the effect of lighting on the purchasing decisions of consumers and the perception of lighting on the food market. It is the integration of questionnaire survey and measuring of light intensity and color temperature (chromaticity), respectively, of emitted color spectrum in grocery shops. The object of the study is the accent lighting in served shop departments of fresh food (meat, deli, dairy products, fruit, vegetables, bread, pastry) but also in other departments of supermarkets (wine, alcohol, organic food, specials, seasonal goods). Based on the light tests conducted in retail stores, we have identified the light conditions in national and international chains operating in Slovakia. Using EEG equipment in simulated conditions, we discovered true consumer preferences for different lighting conditions (color temperature, color rendering index) for the selected type of food. The article concludes with certain managerial implications in the sphere of food retailing and recommendations for further research studies.