Libera!

About: Libera! is a based out in . It is known for research contribution in the topics: Bellman equation & European union. The organization has 501 authors who have published 571 publications receiving 7962 citations.

A Spatiotemporal Framework for the Analytical Study of Optimal Growth Under Transboundary Pollution

Abstract: We construct a spatiotemporal frame for the study of optimal growth under transboundary pollution. Space is continuous and polluting emissions originate in the intensity of use of the production input. Pollution ows across locations following a diffusion process. The objective functional of the economy is to set the optimal production policy over time and space to maximize welfare from consumption, taking into account a negative local pollution externality and the diffusive nature of pollution. Our framework allows for space and time dependent preferences and productivity, and does not restrict diffusion speed to be spaceindependent. This provides a comprehensive setting to analyze pollution diffusion with a close account of geographic heterogeneity. The involved optimization problem is infinite-dimensional. We propose an alternative method for an analytical characterization of the optimal paths and the asymptotic spatial distributions. The method builds on a deep economic concept of pollution spatiotemporal welfare effect, which makes it denitely useful for economic analysis

Mille choses de sa part. Hume, Ramsay and Beccaria

Abstract: At the end of 1765 Morellet wrote to Hume: «I send you 3 copies of my translation of the book de’ delitti». A few days afterwards he informed Beccaria that Hume «desires me to tell you one thousand things for him». To justify his translation Morellet appeals to Hume’s authority: he «read the original and the translation with great care» and «approved of my freedom in translating it». In his works and letters Hume never mentions Beccaria: what about the «one thousand things» that he is supposed to have told Morellet about Dei delitti? Were they close to those that Ramsay mentioned to Diderot? What did Hume think about the theory of original contract and the abolishment of capital punishment?

Risk, Monetary Policy and the Exchange Rate

Abstract: In this research, we provide new empirical evidence on the importance of time-varying uncertainty for the exchange rate and the excess return in currency markets. Following an increase in monetary policy uncertainty, the dollar exchange rate appreciates in the medium run, while an increase in the volatility of productivity leads to a dollar depreciation. We propose a general-equilibrium theory of exchange rate determination based on the interaction between monetary policy and time-varying uncertainty aimed at understanding these regularities. In the model, the behaviour of the exchange rate following nominal and real volatility shocks is consistent with the empirical evidence. Furthermore we show that risk factors and interest-rate smoothing are important in accounting for the negative coefficient in the UIP regression.

On Bubble Generators in Directed Graphs

Abstract: Bubbles are pairs of internally vertex-disjoint (s, t)-paths in a directed graph, which have many applications in the processing of DNA and RNA data. Listing and analysing all bubbles in a given graph is usually unfeasible in practice, due to the exponential number of bubbles present in real data graphs. In this paper, we propose a notion of bubble generator set, i.e., a polynomial-sized subset of bubbles from which all the other bubbles can be obtained through a suitable application of a specific symmetric difference operator. This set provides a compact representation of the bubble space of a graph. A bubble generator can be useful in practice, since some pertinent information about all the bubbles can be more conveniently extracted from this compact set. We provide a polynomial-time algorithm to decompose any bubble of a graph into the bubbles of such a generator in a tree-like fashion. Finally, we present two applications of the bubble generator on a real RNA-seq dataset.