Target Zones Big and Small

Under different assumptions about the underlying monetary shocks, we study target zones of various widths and the effect they have on variables like the interest differential. The stochastic disturbances assumed are successively a non-zero mean random walk and a mean reverting process. The latter is used to incorporate the "leaning against the wind" policy (intrainarginal intervention) which is prevalent in the EMS.

A spectral-based numerical method for Kolmogorov equations in Hilbert spaces

We propose a numerical solution for the solution of the Fokker-Planck-Kolmogorov (FPK) equations associated with stochastic partial differential equations in Hilbert spaces. The method is based on the spectral decomposition of the Ornstein-Uhlenbeck semigroup associated to the Kolmogorov equation. This allows us to write the solution of the Kolmogorov equation as a deterministic version of the Wiener-Chaos Expansion. By using this expansion we reformulate the Kolmogorov equation as a infinite system of ordinary differential equations, and by truncation it we set a linear finite system of differential equations. The solution of such system allow us to build an approximation to the solution of the Kolmogorov equations. We test the numerical method with the Kolmogorov equations associated with a stochastic diffusion equation, a Fisher-KPP stochastic equation and a stochastic Burgers Eq. in dimension 1.Comment: 28 pages, 10 figure

On the uniqueness of the helicoid and Enneper’s surface in the Lorentz-Minkowski space R31

In this paper we deal with the uniqueness of the Lorentzian helicoid and Enneper’s surface among properly embedded maximal surfaces with lightlike boundary of mirror symmetry in the Lorentz-Minkowski space R3Ministerio de Ciencia y Tecnología MTM2004-00160Ministerio de Ciencia y Tecnología MTM2007-61775Junta de Andalucía P06-FQM-01642Junta de Andalucía FQM32