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Each of the four units, of climatic significance, and built under high accommodation conditions, records a recession stage of the northern Gondwana ice sheet following a major glacial advance.
The second effect will imply the opposite relation during the recession stage.
If we suppose a persisting recession stage, it is very hard to find a satisfying initialization η for the retarded price in the interval [ 0, σ ].
The economic stage that is apparent in the time prior to the planning period [ 0, t f ] can either be a normal or a recession stage.
The transition from the last recession stage n to the subsequent normal period that starts at t = τ n is continuous, too.
In the recession stage of the delayed case the firm should use higher prices than in the corresponding scenario in the undelayed world, whereas in the normal economic stage after the recession is over the pricing policy is optimal if the reversed relation is true.
Similar(54)
While all n recession stages have the constant duration h = τ i − τ i − 1, the n normal period stages have a length of t f − τ i, i = 1, …, n.
Even following the 1981 recession, by this stage local government employment was up by 1.4 percent.
"It would be disastrous if we entered into a recession at this stage, given that we haven't yet made up for the last recession," said Conrad DeQuadros, senior economist at RDQ Economics.
True, Japan's 1.6% average growth was inflated by a couple of years of its bubble, but then America's economy currently also looks bubble-affected with a high risk, therefore, of a sharp slowdown or recession at some stage over the next few years.
It was fitting that a casino in Las Vegas, a boom-and-bust city that has suffered like few others during the recession, offered the stage for a robust economic discussion.
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