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Equilibrium Relation (equilibrium + relation)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	71%
Earth and Environmental Science	28%

Selected Abstracts

Phase Equilibria Constraints on Relations of Ore-bearing Intrusions with Flood Basalts in the Panxi Region, Southwestern China

ACTA GEOLOGICA SINICA (ENGLISH EDITION), Issue 2 2009
Zhaochong ZHANG
Abstract: There are two types of temporally and spatially associated intrusions within the Emeishan large igneous province (LIP); namely, small ultramafic subvolcanic sills that host magmatic Cu-Ni-Platinum Group Element (PGE)-bearing sulfide deposits and large mafic layered intrusions that host giant Ti-V magnetite deposits in the Panxi region. However, except for their coeval ages, the genetic relations between the ore-bearing intrusions and extrusive rocks are poorly understood. Phase equilibria analysis (Q-Pl-Ol-Opx-Cpx system) has been carried out to elucidate whether ore-bearing Panzhihua, Xinjie and Limahe intrusions are co-magmatic with the picrites and flood basalts (including high-Ti, low-Ti and alkali basalts), respectively. In this system, the parental magma can be classified as silica-undersaturated olivine basalt and silica-saturated tholeiite. The equivalents of the parental magma of the Xinjie and Limahe peridotites and picrites and low-Ti basalts are silica-undersaturated, whereas the Limahe gabbro-diorites and high-Ti basalts are silica-saturated. In contrast, the Panzhihua intrusion appears to be alkali character. Phase equilibria relations clearly show that the magmas that formed the Panzhihua intrusion and high-Ti basalts cannot be co-magmatic as there is no way to derive one liquid from another by fractional crystallization. On the other hand, the Panzhihua intrusion appears to be related to Permian alkali intrusions in the region, but does not appear to be related to the alkali basalts recognized in the Longzhoushan lava stratigraphy. Comparably, the Limahe intrusion appears to be a genetic relation to the picrites, whereas the Xinjie intrusion may be genetically related to be low-Ti basalts. Additionally, the gabbro-diorites and peridotites of the Limahe intrusion are not co-magmatic, and the former appears to be derived liquid from high-Ti basalts. [source]

Estimating Labor Demand with Fixed Costs*

INTERNATIONAL ECONOMIC REVIEW, Issue 1 2004
Paola Rota
We consider a dynamic model in which firms decide whether or not to vary labor in the presence of fixed costs. By exploiting the first-order condition for optimality, we derive a semireduced form in which firms' intertemporal employment is defined by a standard marginal productivity condition augmented by a forward-looking term. We obtain a marginal productivity equilibrium relation that takes into account the future alternatives of adjustment or nonadjustment that firms face. We use the structural parameter from this condition to estimate the fixed cost within a discrete decision process. Fixed costs are about 15 months' labor cost. [source]

CONSUMPTION AND GROWTH FROM A RICARDIAN PERSPECTIVE,

METROECONOMICA, Issue 4 2009
Nazim Kadri Ekinci
ABSTRACT A new way of imposing the Ricardian closure is proposed through a dynamic consumption function along Keynesian lines. The dynamic consumption function relates consumption to current income and to the accumulated stock of consumer durables. In this way the dynamics of consumption and effective demand become dependent on consumer spending on durables. Using the dynamic consumption function within a simplified Harrod,Domar growth framework, it is shown that there is no independent consumption function in the long run as the Ricardian closure implies. The long-run propensity to consume is an equilibrium relation, not a behavioural parameter. [source]

Are Private Sector Consumption Decisions Affected by Public Sector Consumption?

THE ECONOMIC RECORD, Issue 239 2001
Ólan T. Henry
This paper looks at the interaction between public and private consumption in Australia. The results show that there is a long-run equilibrium relation between private and public consumption. However, the nature of this relation changed during the 1980s from one of complementarity to one of substitutability. [source]

Diffusion of strongly sorbed solutes in soil: a dual-porosity model allowing for slow access to sorption sites and time-dependent sorption reactions

EUROPEAN JOURNAL OF SOIL SCIENCE, Issue 1 2010
M. Ptashnyk
We use homogenization techniques to derive a dual (or double) porosity model of solute diffusion and reaction in soil, allowing for slow access to sorption sites within micro-aggregates and time-dependent sorption reactions. We give a means for determining the conditions in which micro-scale concentration gradients affect macro-scale gradients and fluxes. We present equations for a unit volume of soil represented as a series of uniformly-spaced, porous spherical particles, containing and surrounded by solution through which solutes diffuse. The methods we use can, in principle, be applied to more complex geometries. We compare the model's predictions with those of the equivalent single porosity model for commonly used boundary conditions. We show that failure to allow for slow access to reaction sites can lead to seriously erroneous results. Slow access has the effect of decreasing the sorption of solute into soil from a source or desorption from soil to a sink. As a result of slow access, the diffusion coefficients of strongly-sorbed solutes measured at the macro-scale will be time-dependent and will depend on the method of measurement. We also show that slow access is more often likely to limit macro-scale diffusion than rates of slow chemical reactions per se. In principle, the unimportance of slow reactions except at periods longer than several weeks of diffusion simplifies modelling because, if slow access is correctly allowed for, sorption can be described with equilibrium relations with an understanding of speciation and rapid sorption-desorption reactions. [source]

Permanent and Transitory Driving Forces in the Asian-Pacific Stock Markets

FINANCIAL REVIEW, Issue 1 2002
Ali F. Darrat
This paper uses weekly data from November 1987 through May 1999 to examine whether U.S. or the Japan stock market (or both) is the main driving force behind major movements in eleven emerging Asian-Pacific stock markets. We find a robust cointegrating relation linking each of the emerging market with the two matured markets of the U.S. and Japan. The results also show that the U.S., rather than Japan, is the main permanent force driving the equilibrium relations across all Asian-Pacific markets. In contrast, the effect of the Japanese market on the Asian-Pacific region is only transitory. Therefore, strategic asset portfolios in the Asian-Pacific region should include Japanese stocks to diversify any country specific risks. As to U.S. investors, the persistent influence of the U.S. market may limit long-run diversification gains from Asian-Pacific stocks. [source]

The Effect of Time-Series and Cross-Sectional Heterogeneity on Panel Unit Root Test Power

THE JOURNAL OF FINANCIAL RESEARCH, Issue 3 2002
John M. Geppert
Abstract Panel unit root tests represent a significant advancement in addressing the low power of unit root tests by exploiting cross-sectional and time-series information. In this article we employ Monte Carlo techniques to quantify the power improvements due to cross-sectional information and assess test sensitivity to heterogeneous data. Pooling the data alleviates negative effects of slowly adjusting equilibrium relations as well as persistence in the forcing variable. However, if the panel contains a mixture of unit root and stationary series, the power of the test decreases substantially and the interpretation of the results becomes tenuous. [source]