Search results for "g10"
showing 10 items of 74 documents
Banking Competition, Collateral Constraints and Optimal Monetary Policy
2013
We analyze optimal monetary policy in a model with two distinct financial frictions. First, borrowing is subject to collateral constraints. Second, credit flows are intermediated by monopolistically competitive banks, thus giving rise to endogenous lending spreads. We show that, up to a second order approximation, welfare maximization is equivalent to stabilization of four goals: inflation, output gap, the consumption gap between constrained and unconstrained agents, and the distribution of the collateralizable asset between both groups. Following both financial and non-financial shocks, the optimal monetary policy commitment implies a short-run trade-off between stabilization goals. Such p…
(Table 1) Trace element/Ca ratios of Orbulina universa shells from late Neogene Mediterranean samples
2008
A Mediterranean composite sedimentary record was analyzed for Ba/Ca ratios on carbonate shells of Orbulina universa planktonic foraminifer (Ba/Ca)carb providing the opportunity to study and assess the extent of freshwater inputs on the basin and possible impacts on its dynamics during the Tortonian to Recent period. A number of scanning electron microscope analyses and auxiliary trace element measurements (Mn, Sr, and Mg), obtained from the same samples, exclude important diagenetic effects on the studied biogenic carbonates and corroborate the reliability of (Ba/Ca)carb ratios in foraminifera calcite as indicators of seawater source components during the studied interval. A long-term trend…
Neoclassical growth, manufacturing agglomeration, and terms of trade
2007
This paper presents an integrated view of economic growth, development traps, and economic geography. We explain why there is income convergence among some countries (neoclassical regime) and income divergence among others (poverty trap regime). Income convergence (divergence) and manufacturing industry diffusion (agglomeration) are re-enforcing each other in a cumulative process. Moreover, trade openness may trigger a catch-up process of an economy that is stuck in a \"poverty trap\". This catch-up is characterized by an increase in the investment-to-GDP ratio and an improvement of the terms of trade. A new dynamic welfare gain of trade liberalization is identified, which is likely to be l…
The Institutional Determinants of Private Equity Involvement in Business Groups: The Case of Africa
2018
This study examines the governance attributes of post-IPO (initial public offering) retained ownership of private equity in business group constituent firms in contrast to their unaffiliated counterparts, in 202 newly listed firms in 22 emerging African economies. We adopt an actor centered institutional-theoretic perspective in rationalizing institutional voids and the advantages of maintained governance by both business angels (BA) and venture capital (VC) private equity. Our findings reveal private equity retain higher post-IPO ownership in business group constituents compared to unaffiliated firms and that this is inversely moderated in the context of improving institutional quality – w…
Mass transport problems obtained as limits of p-Laplacian type problems with spatial dependence
2014
Abstract. We consider the following problem: given a bounded convex domain Ω ⊂ ℝ N ${\Omega \subset \mathbb {R}^N}$ we consider the limit as p → ∞ of solutions to - div ( b p - p | D u | p - 2 D u ) = f + - f - ${- \operatorname{div} (b_{p}^{-p} |Du|^{p-2} Du)=f_+ - f_-}$ in Ω and b p - p | D u | p - 2 ∂ u ∂ η = 0 ${ b_{p}^{-p} |Du|^{p-2} \frac{\partial u}{\partial \eta }=0}$ on ∂ Ω ${\partial \Omega }$ . Under appropriate assumptions on the coefficients bp that in particular verify that lim p → ∞ b p = b ${ \lim _{p\rightarrow \infty } b_p = b }$ uniformly in Ω ¯ ${\overline{\Omega }}$ , we prove that there is a uniform limit of u p j ${u_{p_j}}$ (along a sequence p j → ∞ ${p_j \rightarrow…
Dependence of the layer heat potentials upon support perturbations
2023
We prove that the integral operators associated with the layer heat potentials depend smoothly upon a parametrization of the support of integration. The analysis is carried out in the optimal H\"older setting.
Convergence for varying measures in the topological case
2023
In this paper convergence theorems for sequences of scalar, vector and multivalued Pettis integrable functions on a topological measure space are proved for varying measures vaguely convergent.
The metric-valued Lebesgue differentiation theorem in measure spaces and its applications
2021
We prove a version of the Lebesgue Differentiation Theorem for mappings that are defined on a measure space and take values into a metric space, with respect to the differentiation basis induced by a von Neumann lifting. As a consequence, we obtain a lifting theorem for the space of sections of a measurable Banach bundle and a disintegration theorem for vector measures whose target is a Banach space with the Radon-Nikod\'{y}m property.
Integration of multifunctions with closed convex values in arbitrary Banach spaces
2018
Integral properties of multifunctions with closed convex values are studied. In this more general framework not all the tools and the technique used for weakly compact convex valued multifunctions work. We pay particular attention to the "positive multifunctions". Among them an investigation of multifunctions determined by vector-valued functions is presented. Finally, decomposition results are obtained for scalarly and gauge-defined integrals of multifunctions and a full description of McShane integrability in terms of Henstock and Pettis integrability is given.
P-spaces and the Whyburn property
2009
We investigate the Whyburn and weakly Whyburn property in the class of $P$-spaces, that is spaces where every countable intersection of open sets is open. We construct examples of non-weakly Whyburn $P$-spaces of size continuum, thus giving a negative answer under CH to a question of Pelant, Tkachenko, Tkachuk and Wilson. In addition, we show that the weak Kurepa Hypothesis (a set-theoretic assumption weaker than CH) implies the existence of a non-weakly Whyburn $P$-space of size $\aleph_2$. Finally, we consider the behavior of the above-mentioned properties under products; we show in particular that the product of a Lindel\"of weakly Whyburn P-space and a Lindel\"of Whyburn $P$-space is we…