Has emerging Asia decoupled? An analysis of production and trade linkages using the Asian international input-output table

Due to the emergence of global production networks, trade statistics have became less accurate in describing the dependence of emerging Asia on external demand. This paper analyses, using an update of the Asian International Input-Output (AIO) table, the interdependence of emerging Asian countries, the United States, the EU15, and Japan via trade and production linkages. According to the results, we do not find evidence of the decoupling of emerging Asia from the rest of the world. On the contrary, we find evidence on increasing trade integration, both globally and regionally. Nonetheless, our analysis indicates that emerging Asia’s dependence on exports is only about one-third of its GDP, i.e. well below the 50% exposure suggested by trade data. This finding can be explained by the high import content of exports in these economies, which is a result of the increasing segmentation of production across the region. JEL Classification: F14, C67, E23Asian International Input-Output table, decoupling, Emerging Asia, real linkages, resilience

On interpretations and constructions of classical dynamical r-matrices

In this note we complement recent results on the exchange $r$-matrices appearing in the chiral WZNW model by providing a direct, purely finite-dimensional description of the relationship between the monodromy dependent 2-form that enters the chiral WZNW symplectic form and the exchange $r$-matrix that governs the corresponding Poisson brackets. We also develop the special case in which the exchange $r$-matrix becomes the `canonical' solution of the classical dynamical Yang-Baxter equation on an arbitrary self-dual Lie algebra.Comment: 8 pages, LaTeX, based on a talk given by L.F. at the QTS2 symposium, 18-21 July 2001, Krakow, Poland. References are updated, and a typo is removed in v2; a misprint in equation (A.13) is corrected in v

Random Matrix Filtering in Portfolio Optimization

We study empirical covariance matrices in finance. Due to the limited amount of available input information, these objects incorporate a huge amount of noise, so their naive use in optimization procedures, such as portfolio selection, may be misleading. In this paper we investigate a recently introduced filtering procedure, and demonstrate the applicability of this method in a controlled, simulation environment.Comment: 9 pages with 3 EPS figure