Profits, Markups and Entry: Fiscal Policy in an Open Economy

In this paper we develop a general model of an imperfectly competitive small open economy. There is a traded and non-traded sector, whose outputs are combined in order to produce a single final good that can be either consumed or invested. We make general assumptions about preferences and technology, and analyze the impact of fiscal policy on the economy. We find that the fiscal multiplier is between zero and one, and provide sufficient conditions for it to be increasing in the degree of imperfect competition. We also are able to compare the multiplier under free-entry and with a fixed number of firms and welfare. A simple graphical representation of the model is developed.Imperfect competition, open economy, fiscal policy

Different strategies for recovering metals from CARON process residue

http://dx.doi.org/10.1016/j.jhazmat.2011.03.048The capacity of Acidithiobacillus thiooxidans DMS 11478 to recover the heavy metals contained in the residue obtained from the CARON process has been evaluated. Different bioreactor configurations were studied: a two-stage batch system and two semi-continuous systems (stirred-tank reactor leaching and column leaching). In the two-stage system, 46.8% Co, 36.0% Mg, 26.3% Mn and 22.3% Ni were solubilised after 6 h of contact between the residue and the bacteria-free bioacid. The results obtained with the stirred-tank reactor and the column were similar: 50% of the Mg and Co and 40% of the Mn and Ni were solubilised after thirty one days. The operation in the column reactor allowed the solid–liquid ratio to be increased and the pH to be kept at low values (<1.0). Recirculation of the leachate in the column had a positive effect on metal removal; at sixty five days (optimum time) the solubilisation levels were as follows: 86% Co, 83% Mg, 72% Mn and Ni, 62% Fe and 23% Cr. The results corroborate the feasibility of the systems studied for the leaching of metals from CARON process residue and these methodologies can be considered viable for the recovery of valuable metals

EDGE: a code to calculate diffusion of cosmic-ray electrons and their gamma-ray emission

The positron excess measured by PAMELA and AMS can only be explained if there is one or several sources injecting them. Moreover, at the highest energies, it requires the presence of nearby ($\sim$hundreds of parsecs) and middle age (maximum of $\sim$hundreds of kyr) source. Pulsars, as factories of electrons and positrons, are one of the proposed candidates to explain the origin of this excess. To calculate the contribution of these sources to the electron and positron flux at the Earth, we developed EDGE (Electron Diffusion and Gamma rays to the Earth), a code to treat diffusion of electrons and compute their diffusion from a central source with a flexible injection spectrum. We can derive the source's gamma-ray spectrum, spatial extension, the all-electron density in space and the electron and positron flux reaching the Earth. We present in this contribution the fundamentals of the code and study how different parameters affect the gamma-ray spectrum of a source and the electron flux measured at the Earth.Comment: Presented at the 35th International Cosmic Ray Conference (ICRC2017), Bexco, Busan, Kore

The calibration of the first Large-Sized Telescope of the Cherenkov Telescope Array

The Cherenkov Telescope Array (CTA) represents the next generation of very high-energy gamma-ray observatory, which will provide broad coverage of gamma rays from 20 GeV to 300 TeV with unprecedented sensitivity. CTA will employ three different sizes of telescopes, and the Large-Sized Telescopes (LSTs) of 23-m diameter dish will provide the sensitivity in the lowest energies down to 20 GeV. The first LST prototype has been inaugurated in October 2018 at La Palma (Canary Islands, Spain) and has entered the commissioning phase. The camera of the LST consists of 265 PMT modules. Each module is equipped with seven high-quantum-efficiency Photomultiplier Tubes (PMTs), a slow control board, and a readout board. Ensuring high uniformity and precise characterization of the camera is the key aspects leading to the best performance and low systematic uncertainty of the LST cameras. Therefore, prior to the installation on site, we performed a quality check of all PMT modules. Moreover, the absolute calibration of light throughput is essential to reconstruct the amount of light received by the telescope. The amount of light is affected by the atmosphere, by the telescope optical system and camera, and can be calibrated using the ring-shaped images produced by cosmic-ray muons. In this contribution, we will show the results of off-site quality control of PMT modules and on-site calibration using muon rings. We will also highlight the status of the development of Silicon Photomultiplier modules that could be considered as a replacement of PMT modules for further improvement of the camera