Search results for "Convergence"
showing 10 items of 655 documents
The effects of fiscal policy shocks on the business environment
2021
Fiscal policy influences economic conditions through public spending and taxes, generating positive or negative impulses, both on short and long term. The present research focuses on analysing the effects of the discretionary changes in the fiscal policy in seven post-communist countries of the European Union during the period 2000–2018. The autoregressive distributed lag model (ARDL) has been applied in order to obtain the convergence rates to equilibrium with a clear analysis of the periods needed to achieve the long-run fiscal sustainability. Also, the error correction vector model (VECM), which is based on the autoregressive vector (VAR) model, has been used in the second part of the an…
The impact of the Great Recession on TFP convergence among EU countries
2017
ABSTRACTThis article provides evidence on the effect of the Great Recession on productivity convergence among European Union (EU) economies. We use firm data, aggregated at the country-year level, to analyse the evolution of beta-convergence on total factor productivity (TFP) for 2003–2014. We obtain a positive impact of the recession on TFP (unconditional and conditional) beta-convergence across EU economies. These results support the existence of a catching-up process within the EU during the recent financial crisis. Other macroeconomic and institutional characteristics are important in fostering TFP growth, namely R&D intensity and quality of governance.
Offshoring in the European Union: a Study of the Evolution of the Tax Burden
2017
One of the most serious effects of offshoring is tax avoidance, which harms the economies of the affected regions. In an attempt to eradicate tax avoidance, the EU seeks to establish tax harmonization across its Member States. Based on data for 2006-2014, this study analyzes the historical evolution and current trends of a convergence or divergence of the tax burden for 15 EU Member States. The effective tax rate was used to assess the tax burden. This study used a novel approach to analyze the tax burden and conducted a cluster analysis to examine changes in the effective tax rates between 2006 and 2014. The results imply that when the economy prospers, effective tax rates tend to converge…
Space-time analysis of GDP disparities among European regions : a Markov chains approach
2004
The purpose of this paper is to study the evolution of the disparities between 138 European regions over the 1980-1995 period. We characterize the regional per capita GDP cross-sectional distribution by means of nonparametric estimations of density functions and we model the growth process as a first-order stationary Markov chain. Spatial effects are then introduced within the Markov chain framework using regional conditioning (Quah, 1996b) and spatial Markov chains (Rey, 2001). The results of the analysis indicate the persistence of regional disparities, a progressive bias toward a poverty trap and the importance of geography to explain the convergence process.
Passive congregation based particle swam optimization (pso) with self-organizing hierarchical approach for non-convex economic dispatch
2017
This paper proposes a passive congregation based PSO with self-organizing hierarchical algorithm approach for solving the economic dispatch problem of power system, where some of the units have prohibited operating zones. This Algorithm is known to perform better than conventional gradient based optimization methods for non-convex optimization problems. Conventional PSO algorithm is a population based heuristic search, employing problem of premature convergence. In this work, an innovative approach based on the concept of passive congregation based PSO with self-organizing hierarchical approach is employed to overcome the problem of premature convergence in classical PSO method.
Vacuum induced berry phase: Theory and experimental proposal
2003
We investigate quantum effects in geometric phases arising when a two-level system is interacting with a quantized electromagnetic field. When the system is adiabatically driven along a closed loop in the parameter space, signatures of the field quantization are observable in the geometric phase. We propose a feasible experiment to measure these effects in cavity QED and also analyse the semi-classical limit, recovering the usual Berry phase results.
Abstract Estimates of the Rate of Convergence for Optimal Control Problems
1997
A method for solving optimal control problems with general elliptic operators is presented and analyzed. Especially, estimates of the rate of convergence for the control problems with the proposed approach are derived independently of the underlying approximation method. Some numerical experiments with the proposed method are included.
An Exploratory Spatial Data Analysis of European Regional Disparities, 1980–1995
2003
European integration has stimulated numerous studies of regional economic convergence within the European Union in recent macroeconomic and regional science literature (e.g. Abraham and Von Rompuy 1995; Armstrong 1995a; Neven and Gouyette 1995; Martin 2001). Most of the time, the empirical methods that have been used are identical to the methods employed in international studies. However, spatial effects, particularly spatial autocorrelation and spatial heterogeneity, must be taken into account when analyzing the convergence process at regional scale. There are number of factors — trade between regions, technology, knowledge diffusion and more generally regional spillovers — that lead to ge…
Hydraulic Models and Finite Elements for Monitoring of an Earth Dam, by Using GNSS Techniques
2016
This work gives a comparison between different mathematicalmodels for the evaluation of the movements of an earthendam situated between Bivona and Alessandria della Rocca, inthe province of Agrigento (AG), Italy. The models selected areof a hydraulic nature, already tested on concrete dams, andfinite elements models which, on the contrary, exploit geotechnicalparameters. The results obtained from the comparisonof the displacement planimetric components and the relativetime series of data over a period of two years appear to befully satisfactory, in fact using both models of a hydraulic andgeotechnical nature, we reach residues of just mm. To supportthis work, a monitoring procedure using GN…
A Compensation Based Method to Model PV Nodes in Backward/Forward Distribution Network Analysis
2007
PurposeThis paper proposes to identify a new model of the fixed voltage nodes (PV nodes) for medium voltage distribution systems analysis. The model is used within backward/forward (b/f) analysis method applied to solve radial and weakly meshed systems.Design/methodology/approachThe model is based on the compensation currents method for multi‐port systems which has been extensively used, within b/f analysis methods, to take into account the presence of meshes and PV nodes.FindingsTest results prove the approach to be more efficient and precise than previous methodologies and put into evidence the good performance of the proposed model in terms of speed and convergence properties.Research li…