A distributed optimization framework for localization and formation control: applications to vision-based measurements

Multiagent systems have been a major area of research for the last 15 years. This interest has been motivated by tasks that can be executed more rapidly in a collaborative manner or that are nearly impossible to carry out otherwise. To be effective, the agents need to have the notion of a common goal shared by the entire network (for instance, a desired formation) and individual control laws to realize the goal. The common goal is typically centralized, in the sense that it involves the state of all the agents at the same time. On the other hand, it is often desirable to have individual control laws that are distributed, in the sense that the desired action of an agent depends only on the measurements and states available at the node and at a small number of neighbors. This is an attractive quality because it implies an overall system that is modular and intrinsically more robust to communication delays and node failures

Assessing the Long-Run Economic Impact of Labour Law Systems: A theoretical Reappraisal and Analysis of New Time Series Data

Standard economic theory sees labour law as an exogenous interference with market relations and predicts mostly negative impacts on employment and productivity. We argue for a more nuanced theoretical position: labour law is, at least in part, endogenous, with both the production and the application of labour law norms influenced by national and sectoral contexts, and by complementarities between the institutions of the labour market and those of corporate governance and financial markets. Legal origin may also operate as a force shaping the content of the law and its economic impact. Time-series analysis using a new dataset on legal change from the 1970s to the mid-2000s shows evidence of positive correlations between regulation and growth in employment and productivity, at least for France and Germany. No relationship, either positive or negative, is found for the UK, and although the US shows a weak negative relationship between regulation and employment growth, this is offset by productivity gains.labour law, employment, productivity, redistribution, complementarities, legal origins, varieties of capitalism

Drape simulation using solid-shell elements and adaptive mesh subdivision

In this paper, 4-node quadrilateral and 3-node triangular solid-shell elements are applied to drape simulations. With locking issues alleviated by the assumed natural strain method and plane-stress enforcement, static and dynamic drape problems are attempted by the quadrilateral element. If the drape is deep and the mesh density is inadequate, non-realistic sharp folds are predicted due to the non-physical interpenetration of top and bottom element surfaces. To avoid the interpenetration, a reversible adaptive subdivision based on the 1–4 splitting method is developed. To ensure displacement compatibility among elements at different subdivision levels, macro-transition elements are formed by quadrilateral and triangular solid-shell elements. To reduce the dynamic oscillation induced by newly inserted nodes, the discrete Kirchhoff condition is employed to determine the related nodal variables. Dynamic drape examples using adaptive meshing are presented. It can be seen that the predictions look realistic and deep drapes can be predicted with the interpenetration avoided yet the required number of nodes can be kept relatively small.postprin

Adaptive microfoundations for emergent macroeconomics

In this paper we present the basics of a research program aimed at providing microfoundations to macroeconomic theory on the basis of computational agentbased adaptive descriptions of individual behavior. To exemplify our proposal, a simple prototype model of decentralized multi-market transactions is offered. We show that a very simple agent-based computational laboratory can challenge more structured dynamic stochastic general equilibrium models in mimicking comovements over the business cycle.Microfoundations of macroeconomics, Agent-based economics, Adaptive behavior

Improving Competition in the Non-Tradable Goods and Labour Markets: The Portuguese Case

This study assesses the macroeconomic impacts of increasing competition in the non-tradable goods and labour markets in Portugal. We lean on evidence that the maintenance of low competition in these markets may have contributed to the recent poor performance of the Portuguese economy. The analysis is performed using PESSOA, a dynamic general equilibrium model for a small-open economy integrated in a monetary union, featuring Blanchard-Yaari households, a multi-sectoral production structure and a number of nominal and real rigidities. We conclude that measures aimed at increasing competition in the Portuguese non-tradable goods and labour markets could induce important international competitiveness gains and be valuable instruments in promoting necessary adjustments within the monetary union frame-work. However, in the short run, real interest rates are likely to increase temporarily, driving consumption and output temporarily downwards.

"Finance and Development: Institutional and Policy Alternatives to Financial Liberalization"

There are many recent worldwide examples of severe financial crises that are linked to periods of financial liberalization. Given the ubiquity of these crises, there is the legitimate question of why governments still pursue financial liberalization policies. Answers to this question range from the recent institutionalization of norms of "acceptable" financial policies and perceived potential gains of attracting private capital inflows to the implied gains arising from the economic logic embedded in the theory underlying financial liberalization. This paper will focus on the latter arguing that financial transformation along the lines proposed by McKinnon-Shaw has engendered widespread banking crises precisely because of the weak foundations of the theory. The financial liberalization theory is critically evaluated on both theoretical and empirical grounds. An alternative theoretical approach is presented that focuses on ways to effect financial and banking transformation that is more consistent with economic development that draws on an institutional-centric perspective.

Fiscal policy in EMU: Rules, discretion and political incentives

The fiscal philosophy of EMU's budgetary rules is to bring deficits close to balance and then let automatic stabilisers play freely. Given the large tax and benefit systems in Europe, relying mainly on automatic stabilisation would allow a relatively high degree of cyclical smoothing while avoiding the typical pitfalls of fiscal activism. While this is, in most circumstances, good economic policy, it is evidently not regarded as good politics. The current difficulties of EMU's fiscal policy framework have little to do with its alleged fault lines and much to do with the resurgence of electoral budget cycles amid a weak system of incentives to abide by the agreed rules.EMU, economic and monetary union, fiscal policy, taxation, budgetary regulation, Marco Buti, van den Noord

Drivers of regional efficiency differentials in Italy: technical inefficiency or allocative distortions?

This paper estimates regional economic efficiency differentials at the firm level in the Italian manufacturing sector over the period 1998-2003. We implement an input distance function approach providing measures of both technical inefficiency and allocative distortions in the choice of input mixes. Our results confirm the substantial technical efficiency gap suffered by firms located in Southern regions, thus providing empirical support to the “structural and technological gap” interpretation of the Italian dualism. On the other hand, allocative distortions in the use of inputs show less remarkable regional differences. As for policy implications, our results suggest the need for a re-allocation of public resources for development policies from business incentives measures towards public investments.Technical and allocative efficiency, Input distance function, Development policies