Explore the vast range of titles available.

The major and possibly only component of the sex attractant pheromone of the moth Hemileuca nevadensis (Lepidoptera: Saturniidae) from southern California was determined to be (E10,Z12)-hexadecadienal (E10,Z12-16:Ald). Detectable quantities of the analogs (E10,Z12)-hexadecadien-1-yl acetate (E10,Z12-16:Ac) and (E10,Z12)-hexadecadien-1-ol (E10,Z12-16:OH) were also present in solvent extracts of sex pheromone glands, and stimulated male antennae in coupled gas chromatography-electroantennogram detector (GC-EAD) assays. GC-EAD traces from solid phase microextraction (SPME) wipe samples of sex pheromone glands of calling females confirmed the presence of E10,Z12-16:Ald and traces of E10,Z12-16:OH on the gland surface, but E10,Z12-16:Ac was not detected. Despite evidence for the presence of all three compounds in extracts, behavioral responses to synthetic compounds in the field suggested that only E10,Z12-16:Ald is required for optimal attraction.

This paper discusses empirical approaches macroeconomists use to answer questions like: What does monetary policy do? How large are the effects of fiscal stimulus? What caused the Great Recession? Why do some countries grow faster than others? Identification of causal effects plays two roles in this process. In certain cases, progress can be made using the direct approach of identifying plausibly exogenous variation in a policy and using this variation to assess the effect of the policy. However, external validity concerns limit what can be learned in this way. Carefully identified causal effects estimates can also be used as moments in a structural moment matching exercise. We use the term “identified moments” as a short-hand for “estimates of responses to identified structural shocks,” or what applied microeconomists would call “causal effects.” We argue that such identified moments are often powerful diagnostic tools for distinguishing between important classes of models (and thereby learning about the effects of policy). To illustrate these notions we discuss the growing use of cross-sectional evidence in macroeconomics and consider what the best existing evidence is on the effects of monetary policy.

We propose a new strategy for dissecting the macroeconomic time series, provide a template for the business-cycle propagation mechanism that best describes the data, and use its properties to appraise models of both the parsimonious and the medium-scale variety. Our findings support the existence of a main business-cycle driver but rule out the following candidates for this role: technology or other shocks that map to TFP movements; news about future productivity; and inflationary demand shocks of the textbook type. Models aimed at accommodating demand- driven cycles without a strict reliance on nominal rigidity appear promising.

We evaluate whether state-of-the-art macro models featuring indivisible labor are consistent with modern quasi-experimental micro evidence by synthesizing evidence on both the intensive and extensive margins. We find that micro estimates are consistent with macro estimates of the steady-state (Hicksian) elasticities relevant for cross-country comparisons on both the extensive and intensive margins. However, micro estimates of intertemporal substitution (Frisch) elasticities are an order of magnitude smaller than the values needed to explain business cycle fluctuations in aggregate hours by preferences. The key puzzle to be resolved is why micro and macro estimates of the Frisch extensive margin elasticity are so different.

Macroeconomic modelling has been under intense scrutiny since the Great Financial Crisis, when serious shortcomings were exposed in the methodology used to understand the economy as a whole. Criticism has been levelled at the assumptions employed in the dominant models, particularly that economic agents are homogeneous and optimizing and that the economy is equilibrating. This paper seeks to explore an interdisciplinary approach to macroeconomic modelling, with techniques drawn from other (natural and social) sciences. Specifically, it discusses agent-based modelling, which is used across a wide range of disciplines, as an example of such a technique. Agent-based models are complementary to existing approaches and are suited to answering macroeconomic questions where complexity, heterogeneity, networks, and heuristics play an important role.

The use of ethanol in gasoline has become a worldwide tendency as an alternative to reduce net CO2 emissions to the atmosphere, increasing gasoline octane rating and reducing dependence on petroleum products. However, recently environmental authorities in large urban centers have expressed their concerns on the true effect of using ethanol blends of up to 20% v/v in in-use vehicles without any modification in the setup of the engine control unit (ECU), and on the variations of these effects along the years of operation of these vehicles. Their main concern is the potential increase in the emissions of volatile organic compounds with high ozone formation potential. To address these concerns, we developed analytical and experimental work testing engines under steady-conditions. We also tested carbureted and fuel-injected vehicles every 10,000 km during their first 100,000 km of operation. We measured the effect of using ethanol-gasoline blends on the power and torque generated, the fuel consumption and CO2, CO, NOx and unburned hydrocarbon emissions, including volatile organic compounds (VOCs) such as acetaldehyde, formaldehyde, benzene and 1,3-butadiene which are considered important ozone precursors. The obtained results showed statistically no significant differences in these variables when vehicles operate with a blend of 20% v/v ethanol and 80% v/v gasoline (E20) instead of gasoline. Those results remained unchanged during the first 100,000 km of operation of the vehicles. We also observed that when the vehicles operated with E20 at high engine loads, they showed a tendency to operate with greater values of λ (ratio of the actual air-fuel ratio to the stoichiometric air-fuel ratio) when compared to their operation with gasoline. According to the Eco-Indicator-99, these results represent a minor reduction (<1.3%) on the impact to human health, and on the deterioration of the ecosystem. However, it implies a 12.9% deterioration of the natural resources. Thermal equilibrium analysis, at the tailpipe conditions (~100 °C), showed that ethane, formaldehyde, ethylene and ethanol are the most relevant VOCs in terms of the amount of mass emitted. The use of ethanol in the gasoline reduced 20–40% of those emissions. These reductions implied an average reduction of 17% in the ozone formation potential.

Intergenerational income mobility is often studied in the context of inequality, but it also plays a critical role in long-term economic development. This study introduces an endogenous growth model to explore how intergenerational income mobility affects macroeconomic growth. In the model, individuals earn wages based on their education and skills, with the accumulation of human capital influenced by inherited abilities, as well as public and private educational investments. A key finding is that economies that allocate more resources to primary and secondary education achieve higher levels of both absolute and relative income mobility, signaling a better alignment of individuals with suitable occupations. This increased mobility, in turn, drives greater economic growth and higher educational attainment. The results highlight intergenerational mobility as a crucial factor for economic growth, providing valuable insights for public policy design. This study makes a significant contribution to understanding the macroeconomic consequences of intergenerational income mobility, particularly in the context of public education investment. By developing an endogenous growth model that integrates multiple regional economies, this study demonstrates that higher spending on K-12 education enhances both absolute and relative intergenerational income mobility. This increased mobility leads to more efficient talent allocation, higher college attainment rates, and ultimately, faster economic growth. The model's predictions are empirically validated using U.S. commuting zone data, reinforcing the relevance of its findings. The study also highlights the redistributive benefits of centralized education finance policies in reducing regional inequality and promoting long-term economic performance. These insights provide strong theoretical and empirical foundations for policy interventions aimed at improving opportunity equality through public education investment.

This paper proposes a linear quadratic approximation approach to dynamic nonlinear rationally inattentive control problems with multiple states and multiple controls. An efficient toolbox to implement this approach is provided. Applying this toolbox to five economic examples demonstrates that rational inattention can help explain the comovement puzzle in the macroeconomics literature.

We propose a simple quantitative method to linearize around the risky steady state of a small open economy. Unlike when the deterministic steady state is used, the net foreign asset position is well defined. We allow for stochastic income and stochastic interest rate.