Gas holdup along with the superficial gas velocity was systematically investigated in a lab-scale bubble column. The experiments were conducted in a bubble column with a height of 6 m at superficial gas velocity of 0.01 - 0.13 m/s. Experimental results show that dynamic equilibrium region was...

This short paper shows that a New Keynesian model with limited asset market participation can generate a high risk-premium on unlevered equity relative to short-term risk-free bonds and high variability of equity returns driven by monetary policy shocks with zero persistence.

We introduce costly firm-entry a la Bilbiie et al. (2012) into a New Keynesian model with Epstein-Zin preferences and show that it can jointly account for a high mean value of bond and equity premium without compromising the fit of the model to first and second moments of key macroeconomic...