Global versus local shocks in micro price dynamics

A number of recent papers point to the importance of distinguishing between the price reaction to micro and macro shocks in order to reconcile the volatility of individual prices with the observed persistence of aggregate inflation. We emphasize instead the importance of distinguishing between global and local shocks. We exploit a panel of 276 micro price levels collected on a semi-annual frequency from 1990 to 2010 across 88 cities in 59 countries around the world, that enables us to distinguish between different types (local and global) of micro and macro shocks. We find that global shocks have more persistent effects on prices as compared to local ones e.g. prices respond faster to local macro shocks than to global micro ones, implying that the relatively slow response of prices to macro shocks documented in recent studies comes from global rather than local sources. Global macro shocks have the most persistent effect on prices, with the majority of goods and locations sharing a single source of trend over time stemming from these shocks. Finally, both local macro and local micro shocks are associated with relatively fast price convergence.global shocks, local shocks, micro shocks, macro shocks, price adjustment, micro-macro gap, price-setting models, micro prices.

Travel of studies: cities of João Pessoa, Maceio, Natal and Recife: a look on the urban space and brazilian architectural production

Ponencia presentada a Session 8: Dimensiones psicosociales de la arquitectura y el urbanismo / Psycological dimensions of architecture and planningThis article aims to present the methodology and the final results of the elective course “Travel of Studies” which belongs to the new pedagogical project from the Architecture and Urbanism course at the University Federal of Pernambuco. It was offered for the first time in 2013.The discipline was organized to occur in four long weekends through visits of four capitals of the Northeast of Brazil: Recife, João Pessoa, Natal and Maceió. The purpose was to allow the students to apprehend the cities through four axis: intervention in historical center (axis 1), production of urban space (axis 2), production of coastline space (axis 3) and contemporary architecture (axis 4). After the four visits were complete, we prepared a poster with the comparison of the cities based on the identification of the similarities and differences of each axis we have studied

Fundraising and vote distribution: a non-equilibrium statistical approach

The number of votes correlates strongly with the money spent in a campaign, but the relation between the two is not straightforward. Among other factors, the output of a ballot depends on the number of candidates, voters, and available resources. Here, we develop a conceptual framework based on Shannon entropy maximization and Superstatistics to establish a relation between the distributions of money spent by candidates and their votes. By establishing such a relation, we provide a tool to predict the outcome of a ballot and to alert for possible misconduct either in the report of fundraising and spending of campaigns or on vote counting. As an example, we consider real data from a proportional election with $6323$ candidates, where a detailed data verification is virtually impossible, and show that the number of potential misconducting candidates to audit can be reduced to only nine

Renormalization of the N=1 Abelian Super-Chern-Simons Theory Coupled to Parity-Preserving Matter

We analyse the renormalizability of an Abelian N=1 super-Chern-Simons model coupled to parity-preserving matter on the light of the regularization independent algebraic method. The model shows to be stable under radiative corrections and to be gauge anomaly free.Comment: Latex, 7 pages, no figure

Teleparallel Spin Connection

A new expression for the spin connection of teleparallel gravity is proposed, given by minus the contorsion tensor plus a zero connection. The corresponding minimal coupling is covariant under local Lorentz transformation, and equivalent to the minimal coupling prescription of general relativity. With this coupling prescription, therefore, teleparallel gravity turns out to be fully equivalent to general relativity, even in the presence of spinor fields.Comment: 2 pages, RevTeX, to appear in Phys. Rev D (Brief Report

Critical Behavior of a Three-State Potts Model on a Voronoi Lattice

We use the single-histogram technique to study the critical behavior of the three-state Potts model on a (random) Voronoi-Delaunay lattice with size ranging from 250 to 8000 sites. We consider the effect of an exponential decay of the interactions with the distance,$J(r)=J_0\exp(-ar)$, with $a>0$, and observe that this system seems to have critical exponents $\gamma$ and $\nu$ which are different from the respective exponents of the three-state Potts model on a regular square lattice. However, the ratio $\gamma/\nu$ remains essentially the same. We find numerical evidences (although not conclusive, due to the small range of system size) that the specific heat on this random system behaves as a power-law for $a=0$ and as a logarithmic divergence for $a=0.5$ and $a=1.0$Comment: 3 pages, 5 figure

Directed flow in ultrarelativistic heavy-ion collisions

We study the generation of directed flow in the hydrodynamic expansion of the hot matter formed in ultrarelativistic heavy-ion collisions at 200GeV. The experimentally observed negative directed flow in a wide range of central pseudorapidities isreproduced assuming that the fireball is tilted away from the collision axis. The tilt of the source is consistent with a preferential emission in the forward/backward hemisphere from forward/backward participating nucleons. The model reproduces the experimentally observed scaling of the directed flow when going from Au-Au to Cu-Cu systems.Comment: figure adde