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This paper focuses on the cost of substitution of intermediate goods and investigates how it affects macroeconomic dynamics after a natural disaster. This paper develops a macroeconomic model to show that the cost of substitution of intermediate goods is an important factor for expanding economic loss by inducing the ??cascade effect.?? In addition, it illustrated that the cost of substitution can...
In the supply chain among industrial sectors, reduction in the production capacity of a firm can lead to a decrease in the production of its customer firms. Such an effect is known as the ldquocascade effectrdquo and is one of the factors that expand total economic loss. This paper develops a two-sector economic growth model and investigates the economic restoration process that occurs after a natural...
A heat-proof magnetic domain-refining technique has been developed which yields good results when applied to wound-core transformers, in which the iron loss suffered using non-refined material can be reduced by about 10%. The new technique is characterized by grooves introduced on the sheet surface after the final cold-rolling process.
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