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ABSTRACT This paper investigates arbitrage chains involving four currencies and four foreign exchange trader-arbitrageurs. In contrast with the three-currency case, we find that arbitrage operations when four currencies are present may appear periodic in nature, and not involve smooth convergence to a 'balanced' ensemble of exchange rates in which the law of one price holds. The goal of this article is to understand some interesting features of sequences of arbitrage operations, features which might well be relevant in other contexts in finance and economics. [ABSTRACT FROM AUTHOR]

ABSTRACT: Two case studies are presented involving fatal falls of adult females from a height. One involved a launch at low speed from a balcony, and one involved a launch at high speed from the top of a cliff. Crime scene evidence obtained on the balcony itself provided a strong indication of homicide, but subsequent investigation showed that the fall was accidental. No crime scene evidence was obtained for the cliff fall since the fall initially appeared to be just another suicide from a popular suicide spot. Subsequent investigations indicated homicide based on measurements of cliff height, horizontal distance to the impact, and available runup distance, plus measurements of possible run, jump, and throw speeds. It was found that a female weighing 61 kg (134 lb) can be thrown at speeds up to 4.85 m/s by a strong male, more than enough to account for the estimated launch speed (4.5 m/s). Given the available 4.0 m runup distance, it was found that women of better than average rather than elite athletic ability can dive at speeds of about 3.5 m/s or jump feet first at speeds of about 4.0 m/s, both being less than the estimated launch speed. The decedent had no athletic ability and landed head first after falling through a height of 29 m. [ABSTRACT FROM AUTHOR]

We consider how differences between the way firms react to a common monetary policy affect the performance of a monetary union. A model is presented in which heterogeneous firms respond discontinuously to monetary shocks. The implication is that the level of economic activity has a selective memory of the extremum values of the shocks experienced, and depends on the distribution of switching values for entry and exit. [ABSTRACT FROM AUTHOR]

Discusses the concept of natural rate which is considered the sustainable rate of unemployment. Explanation of the natural rate of unemployment hypothesis; List of the supply-side factors that help to determine the natural rate of unemployment; Anomalies in the natural rate theory; Discussion of an alternative view of unemployment equilibria.

Focuses on George Soros' view of economic analysis. Soros account of how economic actors interact with economic systems in which they participate; Soros' training in economic analysis; Soros' understanding of the philosophy of science; Soros critique; Method for doing economic analysis.

Discusses the application of mathematical techniques invented by Krasnosel'skii and associates to the problem of unraveling the macroeconomic implications of discontinuous adjustment by heterogeneous agents. Explanations of discontinuous adjustment; Model of asset switching; Implications.

Abstract In this paper, it is pointed out that the long-run Phillips curve genus contains upward and downward sloping species as well as the vertical species. Two models are used: in one the rate of inflation helps determine the natural rate of unemployment, as proposed by Friedman; in the other the process of moving from one inflation rate to another helps shape the natural rate, according to the hysteresis effect proposed by Phelps. In both cases the resulting models are unstable, implying that a vertical long-run Phillips curve will not be regained if disturbed. [ABSTRACT FROM AUTHOR]