Role of soft-iron impellers on the mode selection in the VKS dynamo experiment

A crucial point for the understanding of the von-K\'arm\'an-Sodium (VKS) dynamo experiment is the influence of soft-iron impellers. We present numerical simulations of a VKS-like dynamo with a localized permeability distribution that resembles the shape of the flow driving impellers. It is shown that the presence of soft-iron material essentially determines the dynamo process in the VKS experiment. % An axisymmetric magnetic field mode can be explained by the combined action of the soft-iron disk and a rather small $\alpha$-effect parametrizing the induction effects of unresolved small scale flow fluctuations

Modelling value-added tax in the presence of multiproduction and differentiated exemptions

We develop a framework for economy-wide modelling of value-added tax systems. Our framework models a number of complexities of VAT systems as they are implemented by tax agencies. In particular, we model multiple rates, multiple exemptions, multiple degrees of refundability across commodity users, and multi-product enterprises. A detailed VAT framework is important for correct modelling of VAT within a general equilibrium model. Such a framework is also of value in correctly representing the distribution of indirect tax payments within the database of a general equilibrium model, a prerequisite of accurate welfare analysis. We use the model to analyse the effects of simplifying Vietnam’s complex VAT system. We simplify the system by moving from three tax rates to one budget-neutral rate, while also removing many discretionary exemptions.value added tax; dynamic CGE model; Vietnam; indirect tax reform

Triadic resonances in non-linear simulations of a fluid flow in a precessing cylinder

We present results from three-dimensional non-linear hydrodynamic simulations of a precession driven flow in cylindrical geometry. The simulations are motivated by a dynamo experiment currently under development at Helmholtz-Zentrum Dresden-Rossendorf (HZDR) in which the possibility of generating a magnetohydrodynamic dynamo will be investigated in a cylinder filled with liquid sodium and simultaneously rotating around two axes. In this study, we focus on the emergence of non-axisymmetric time-dependent flow structures in terms of inertial waves which - in cylindrical geometry - form so-called Kelvin modes. For a precession ratio ${\rm{Po}}=\Omega_p/\Omega_c=0.014$ the amplitude of the forced Kelvin mode reaches up to one fourth of the rotation velocity of the cylindrical container confirming that precession provides a rather efficient flow driving mechanism even at moderate values of ${\rm{Po}}$. More relevant for dynamo action might be free Kelvin modes with higher azimuthal wave number. These free Kelvin modes are triggered by non-linear interactions and may constitute a triadic resonance with the fundamental forced mode when the height of the container matches their axial wave lengths. Our simulations reveal triadic resonances at aspect ratios close to those predicted by the linear theory except around the primary resonance of the forced mode. In that regime we still identify various free Kelvin modes, however, all of them exhibit a retrograde drift around the symmetry axis of the cylinder and none of them can be assigned to a triadic resonance. The amplitudes of the free Kelvin modes always remain below the forced mode but may reach up to 6% of the of the container's angular velocity. The properties of the free Kelvin modes will be used in future simulations of the magnetic induction equation to investigate their ability to provide for dynamo action.Comment: 26 pages, 14 figures, submitted to New J. Phy

Efficient local strategies for vaccination and network attack

We study how a fraction of a population should be vaccinated to most efficiently top epidemics. We argue that only local information (about the neighborhood of specific vertices) is usable in practice, and hence we consider only local vaccination strategies. The efficiency of the vaccination strategies is investigated with both static and dynamical measures. Among other things we find that the most efficient strategy for many real-world situations is to iteratively vaccinate the neighbor of the previous vaccinee that has most links out of the neighborhood

Macroeconomic Effects of Corporate Default Crises: A Long-Term Perspective

Using an extensive new data set on corporate bond defaults in the U.S. from 1866 to 2010, we study the macroeconomic effects of bond market crises and contrast them with those resulting from banking crises. During the past 150 years, the U.S. has experienced many severe corporate default crises in which 20 to 50 percent of all corporate bonds defaulted. Although the total par amount of corporate bonds has often rivaled the amount of bank loans outstanding, we find that corporate default crises have far fewer real effects than do banking crises. These results provide empirical support for current theories that emphasize the unique role that banks and the credit and collateral channels play in amplifying macroeconomic shocks.

Induction in a von Karman flow driven by ferromagnetic impellers

We study magnetohydrodynamics in a von K\'arm\'an flow driven by the rotation of impellers made of material with varying electrical conductivity and magnetic permeability. Gallium is the working fluid and magnetic Reynolds numbers of order unity are achieved. We find that specific induction effects arise when the impeller's electric and magnetic characteristics differ from that of the fluid. Implications in regards to the VKS dynamo are discussed.Comment: 14 pages, 7 figure

Electromagnetic induction in non-uniform domains

Kinematic simulations of the induction equation are carried out for different setups suitable for the von-K\'arm\'an-Sodium (VKS) dynamo experiment. Material properties of the flow driving impellers are considered by means of high conducting and high permeability disks that are present in a cylindrical volume filled with a conducting fluid. Two entirely different numerical codes are mutually validated by showing quantitative agreement on Ohmic decay and kinematic dynamo problems using various configurations and physical parameters. Field geometry and growth rates are strongly modified by the material properties of the disks even if the high permeability/high conductivity material is localized within a quite thin region. In contrast the influence of external boundary conditions remains small. Utilizing a VKS like mean fluid flow and high permeability disks yields a reduction of the critical magnetic Reynolds number for the onset of dynamo action of the simplest non-axisymmetric field mode. However this decrease is not sufficient to become relevant in the VKS experiment. Furthermore, the reduction of Rm_c is essentially influenced by tiny changes in the flow configuration so that the result is not very robust against small modifications of setup and properties of turbulence

Large-Scale Loan Portfolio Selection

We consider the problem of optimally selecting a large portfolio of risky loans, such as mortgages, credit cards, auto loans, student loans, or business loans. Examples include loan portfolios held by financial institutions and fixed-income investors as well as pools of loans backing mortgage- and asset-backed securities. The size of these portfolios can range from the thousands to even hundreds of thousands. Optimal portfolio selection requires the solution of a high-dimensional nonlinear integer program and is extremely computationally challenging. For larger portfolios, this optimization problem is intractable. We propose an approximate optimization approach that yields an asymptotically optimal portfolio for a broad class of data-driven models of loan delinquency and prepayment. We prove that the asymptotically optimal portfolio converges to the optimal portfolio as the portfolio size grows large. Numerical case studies using actual loan data demonstrate its computational efficiency. The asymptotically optimal portfolio’s computational cost does not increase with the size of the portfolio. It is typically many orders of magnitude faster than nonlinear integer program solvers while also being highly accurate even for moderate-sized portfolios