420 research outputs found

    Identity, Equality, Nameability and Completeness

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    This article is an extended promenade strolling along the winding roads of identity, equality, nameability and completeness, looking for places where they converge. We have distinguished between identity and equality; the first is a binary relation between objects while the second is a symbolic relation between terms. Owing to the central role the notion of identity plays in logic, you can be interested either in how to define it using other logical concepts or in the opposite scheme. In the first case, one investigates what kind of logic is required. In the second case, one is interested in the definition of the other logical concepts (connectives and quantifiers) in terms of the identity relation, using also abstraction. The present paper investigates whether identity can be introduced by definition arriving to the conclusion that only in full higher-order logic a reliable definition of identity is possible. However, the definition needs the standard semantics and we know that with this semantics completeness is lost. We have also studied the relationship of equality with comprehension and extensionality and pointed out the relevant role played by these two axioms in Henkin’s completeness method. We finish our paper with a section devoted to general semantics, where the role played by the nameable hierarchy of types is the key in Henkin’s completeness method

    A Uniform Substitution Calculus for Differential Dynamic Logic

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    This paper introduces a new proof calculus for differential dynamic logic (dL) that is entirely based on uniform substitution, a proof rule that substitutes a formula for a predicate symbol everywhere. Uniform substitutions make it possible to rely on axioms rather than axiom schemata, substantially simplifying implementations. Instead of nontrivial schema variables and soundness-critical side conditions on the occurrence patterns of variables, the resulting calculus adopts only a finite number of ordinary dL formulas as axioms. The static semantics of differential dynamic logic is captured exclusively in uniform substitutions and bound variable renamings as opposed to being spread in delicate ways across the prover implementation. In addition to sound uniform substitutions, this paper introduces differential forms for differential dynamic logic that make it possible to internalize differential invariants, differential substitutions, and derivations as first-class axioms in dL

    Currency Substitution, Portfolio Diversification and Money Demand

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    The paper explores the implications of means of payment substitutability and capital mobility on the properties of the money demand, using the Thomas (1985) stochastic dynamic optimising model, where the specific role of money is explicitly accounted for. Extending the model to a case in which the consumer has no access to bonds denominated in foreign currency, we are able to describe the double role (means of payment and store of value) that foreign bank notes may have in countries where asset markets are illiquid. We show that means of payment substitutability opens a channel through which portfolio decisions influence the demand for domestic money, even if the later is dominated as store of value. Contrary to what suggested by the Portfolio Balance Theory of Currency Substitution (Cuddington, 1983), the results obtained in this paper suggest that the significance of an expected exchange rate depreciation term in the demand for domestic money provides a valid test for the presence of CSMoney Demand, Currency Substitution, Dollarisation, Portfolio Choice.

    Currency Substitution, portfolio Diversification and Money Demand

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    We extend the Thomas (1985) dynamic optimissing model of money demand and currency substitution to the case in which the individual has no access to bonds denominated in foreign currency. We show that in this case the demand for domestic money is influenced by portfolio decisions. Contrary to what defended by the Portfolio Balance Approach to currency substitution, the results obtained in this paper suggest that the significance of an expected exchange rate depreciation term in the demand for domestic money provides a valid test for the present of curency substitution. The results also suggest that, in countries facing monetary instability and currency substitution, restricting the availability of interest-bearning assets denominated in foreign currency may have a destabilising impact on the money demand.Money Demand, currency Substitution, Dollarisation, Portfolio Choice.

    Neo-Logicism and Its Logic

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    The rather unrestrained use of second-order logic in the neo-logicist program is critically examined. It is argued in some detail that it brings with it genuine set-theoretical existence assumptions and that the mathematical power that Hume’s Principle seems to provide, in the derivation of Frege’s Theorem, comes largely from the ‘logic’ assumed rather than from Hume’s Principle. It is shown that Hume’s Principle is in reality not stronger than the very weak Robinson Arithmetic Q. Consequently, only a few rudimentary facts of arithmetic are logically derivable from Hume’s Principle. And that hardly counts as a vindication of logicism
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