How can mortgages be redesigned to reduce housing market volatility, consumption volatility, and default? How does mortgage design interact with monetary policy? We answer these questions using a ...

Discover how equilibrium quantity balances supply and demand, stabilizing prices in the market—essential knowledge for anyone interested in economic principles.

Many situations in economics are complicated and competitive. New research raises the question of whether many theories in economics may suffer from the very fundamental problem that the key ...

Diversity and Distributions, Vol. 19, No. 9/10 (September & October 2013), pp. 1333-1338 (6 pages) Models based on species distributions are widely used and serve important purposes in ecology, ...

A computer simulation, or model, of a chiller plant must, by the author’s definition, duplicate the performance of the real plant within 1%-3% to qualify as a tool to design and evaluate the plant at ...

A new study has uncovered the universal dynamics far from equilibrium in randomly interacting spin models, thereby complementing the well-established universality in low-energy equilibrium physics.