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The prevailing orthodoxy according to which all macroeconomic theory should be reducible to microeconomics is criticized. Such a dogma excludes from economics the creation of new knowledge, which - as distinguished from the mere transmission of knowledge in education and training - is a social process not reducible to microeconomics. A mathematical extension of the Lucas theory to allow for the effects of creation of knowledge upon economic development is shown to improve essentially the prediction of business cycle data, when compared with the conventional real business cycle models of Kydland and Prescott, Hansen and Rogerson, and Danthine and Donaldson.
This book constitutes the refereed revised post-workshop proceedings of the 5th International Workshop on Network and Operating Systems Support for Digital Audio and Video, NOSSDAV '95, held in Durham, New Hampshire, USA in April 1995. The 24 full papers included were selected from a total of 101 submissions; together with overviews by the session chairpersons they reflect the state of the art in networking and operating systems support for multimedia. The papers are organized in sections on advance reservation systems, operating systems support, resource management and quality of service, audio and video systems, and scheduling and synchronization.