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This thesis develops three models that study the motivation of various agents to take on debt,
and the impact that excessive financial leverage can have on social welfare.
In the chapter "Short-term Bank Leverage and the Value of Liquid Reserves", the ince ...
The Laboratory for Applied Mechanical Design (LAMD) designed, manufactured, and experimentally tested a novel recirculation fan for a 10 kWe solid oxide fuel cell (SOFC). The fan uses oil-free bearings, more specifically herringbone-grooved journal and spi ...
Although robustness is an important consideration to guarantee the performance of designs under deviation, systems are often engineered by evaluating their performance exclusively at nominal conditions. Robustness is sometimes evaluated a posteriori throug ...
Cuts to government spending rather than increases in consumption taxes are statistically associated with internal devaluations in the euro area during the period 2010-2014. Countries that cut spending experienced a decline in nominal wages, rising net expo ...
This paper models the housing sector, mortgages and endogenous default in a DSGE setting with nominal and real rigidities. We use data for the period 1981-2006 to estimate our model using Bayesian techniques. We analyze how an increase in risk in the mortg ...
A fundamental challenge with solar energy is improving the reliability, and increasing the lifetime, of photovoltaic modules. Typically, photovoltaic module manufacturers guarantee 80% of the nominal power of their modules for 25 years, but this type of gu ...
Parasitic oscillations excitation is one of the main point hindering high-power gyrotron operation for fusion application. These instabilities, besides being dangerous for the gyrotron components, could possibly degrade
the electron beam quality before it ...
Superconducting wires are not perfectly homogeneous in term of critical current as well as stabilization. In resistive fault current limiter applications this could lead to hot spots if the fault current is only slightly above the nominal current of the de ...
Cuts to government spending rather than increases in consumption taxes are statistically associated with internal devaluations in the euro area during the period 2010-2014. Countries that cut spending experienced a decline in nominal wages, rising net expo ...
The most recent experiments of disruption mitigation by massive gas injection in ASDEX Upgrade have concentrated on small-relatively to the past-quantities of noble gas injected, and on the search for the minimum amount of gas necessary for the mitigation ...