800 research outputs found

    The Gains from Privatization in Transition Economies: Is "Change of Ownership" Enough?

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    This paper seeks to clarify what factors contributed to the macroeconomic gains and losses from privatization in transition economies over the past decade. In contrast to the original "Washington Consensus," which had a tendency to equate change-of-title with privatization, we find that economic performance gains come only from "deep" privatization, that is, when change-of-title reforms occur once key institutional and "agency"-related reforms have exceeded certain threshold levels. We also find that as a result of different initial conditions the economic performance responses of countries to the same policies are different. Copyright 2002, International Monetary Fund

    Introduction

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    Performative Recommendation: Diversifying Content via Strategic Incentives

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    The primary goal in recommendation is to suggest relevant content to users, but optimizing for accuracy often results in recommendations that lack diversity. To remedy this, conventional approaches such as re-ranking improve diversity by presenting more diverse items. Here we argue that to promote inherent and prolonged diversity, the system must encourage its creation. Towards this, we harness the performative nature of recommendation, and show how learning can incentivize strategic content creators to create diverse content. Our approach relies on a novel form of regularization that anticipates strategic changes to content, and penalizes for content homogeneity. We provide analytic and empirical results that demonstrate when and how diversity can be incentivized, and experimentally demonstrate the utility of our approach on synthetic and semi-synthetic data

    Moderate-Luminosity Growing Black Holes From 1.25 < z < 2.7: Varied Accretion In Disk-Dominated Hosts

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    We compute black hole masses and bolometric luminosities for 57 active galactic nuclei (AGN) in the redshift range 1.25 < z < 2.67, selected from the GOODS-South deep multi-wavelength survey field via their X-ray emission. We determine host galaxy morphological parameters by separating the galaxies from their central point sources in deep HST images, and host stellar masses and colors by multi-wavelength SED fitting. 90% of GOODS AGN at these redshifts have detected rest-frame optical nuclear point sources; bolometric luminosities range from 2e43 - 2e46 erg/s. The black holes are growing at a range of accretion rates, with at least 50% of the sample having L/L_Edd < 0.1. 70% of host galaxies have stellar masses M* > 1e10 M_sun, with a range of colors suggesting a complex star formation history. We find no evolution of AGN bolometric luminosity within the sample, and no correlation between AGN bolometric luminosity and host stellar mass, color or morphology. Fully half the sample of host galaxies is disk-dominated, with another 25% having strong disk components. Fewer than 15% of the systems appear to be at some stage of a major merger. These moderate-luminosity AGN hosts are therefore inconsistent with a dynamical history dominated by mergers strong enough to destroy disks, indicating minor mergers or secular processes dominate the co-evolution of galaxies and their central black holes at z ~ 2.Comment: 11 pages, 6 figures, accepted to ApJ. Sersic indices, AGN/galaxy luminosity ratios, stellar masses etc. provided in Table

    Major Mergers Host the Most Luminous Red Quasars at z ~ 2: A Hubble Space Telescope WFC3/IR Study

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    We used the Hubble Space Telescope WFC3 near-infrared camera to image the host galaxies of a sample of eleven luminous, dust-reddened quasars at z ~ 2 -- the peak epoch of black hole growth and star formation in the Universe -- to test the merger-driven picture for the co-evolution of galaxies and their nuclear black holes. The red quasars come from the FIRST+2MASS red quasar survey and a newer, deeper, UKIDSS+FIRST sample. These dust-reddened quasars are the most intrinsically luminous quasars in the Universe at all redshifts, and may represent the dust-clearing transitional phase in the merger-driven black hole growth scenario. Probing the host galaxies in rest-frame visible light, the HST images reveal that 8/10 of these quasars have actively merging hosts, while one source is reddened by an intervening lower redshift galaxy along the line-of-sight. We study the morphological properties of the quasar hosts using parametric Sersic fits as well as the non-parametric estimators (Gini coefficient, M_{20} and asymmetry). Their properties are heterogeneous but broadly consistent with the most extreme morphologies of local merging systems such as Ultraluminous Infrared galaxies. The red quasars have a luminosity range of log(L_bol) = 47.8 - 48.3 (erg/s) and the merger fraction of their AGN hosts is consistent with merger-driven models of luminous AGN activity at z=2, which supports the picture in which luminous quasars and galaxies co-evolve through major mergers that trigger both star formation and black hole growth.Comment: Submitted to ApJ. This version includes the response to the referee repor

    Discovery of Two Spectroscopically Peculiar, Low-Luminosity Quasars at z~4

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    We report the discovery of two low-luminosity quasars at z~4, both of which show prominent N IV] 1486A emission. This line is extremely rare in quasar spectra at any redshift; detecting it in two out of a sample of 23 objects (i.e., ~ 9% of the sample) is intriguing and is likely due to the low-luminosity, high-redshift quasar sample we are studying. This is still a poorly explored regime, where contributions from associated, early starbursts may be significant. One interpretation of this line posits photoionization by very massive young stars. Seeing N IV] 1486A emission in a high-redshift quasar may thus be understood in the context of co-formation and early co-evolution of galaxies and their supermassive black holes. Alternatively, we may be seeing a phenomenon related to the early evolution of quasar broad emission line regions. The non-detection (and possibly even broad absorption) of N V 1240A line in the spectrum of one of these quasars may support that interpretation. These two objects may signal a new faint quasar population or an early AGN evolutionary stage at high redshifts.Comment: 15 pages, 5 figures, Accepted for publicated in ApJ Letter

    The Faint End of the Quasar Luminosity Function at z ~ 4: Implications for Ionization of the Intergalactic Medium and Cosmic Downsizing

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    We present an updated determination of the z ~ 4 QSO luminosity function (QLF), improving the quality of the determination of the faint end of the QLF presented by Glikman et al. (2010). We have observed an additional 43 candidates from our survey sample, yielding one additional QSO at z = 4.23 and increasing the completeness of our spectroscopic follow-up to 48% for candidates brighter than R = 24 over our survey area of 3.76 deg^2. We study the effect of using K-corrections to compute the rest-frame absolute magnitude at 1450 Å compared with measuring M_(1450) directly from the object spectra. We find a luminosity-dependent bias: template-based K-corrections overestimate the luminosity of low-luminosity QSOs, likely due to their reliance on templates derived from higher luminosity QSOs. Combining our sample with bright quasars from the Sloan Digital Sky Survey and using spectrum-based M 1450 for all the quasars, we fit a double power law to the binned QLF. Our best fit has a bright-end slope, α = 3.3 ± 0.2, and faint-end slope, β = 1.6^(+0.8)_(–0.6). Our new data revise the faint-end slope of the QLF down to flatter values similar to those measured at z ~ 3. The break luminosity, though poorly constrained, is at M* = –24.1^(+0.7)_(–1.9), approximately 1-1.5 mag fainter than at z ~ 3. This QLF implies that QSOs account for about half the radiation needed to ionize the intergalactic medium at these redshifts

    The FIRST-2MASS Red Quasar Survey

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    Combining radio observations with optical and infrared color selection -- demonstrated in our pilot study to be an efficient selection algorithm for finding red quasars -- we have obtained optical and infrared spectroscopy for 120 objects in a complete sample of 156 candidates from a sky area of 2716 square degrees. Consistent with our initial results, we find our selection criteria -- J-K>1.7, R-K>4.0 -- yield a ~50% success rate for discovering quasars substantially redder than those found in optical surveys. Comparison with UVX- and optical color-selected samples shows that >~ 10% of the quasars are missed in a magnitude-limited survey. Simultaneous two-frequency radio observations for part of the sample indicate that a synchrotron continuum component is ruled out as a significant contributor to reddening the quasars' spectra. We go on to estimate extinctions for our objects assuming their red colors are caused by dust. Continuum fits and Balmer decrements suggest E(B-V) values ranging from near zero to 2.5 magnitudes. Correcting the K-band magnitudes for these extinctions, we find that for K <= 14.0, red quasars make up between 25% and 60% of the underlying quasar population; owing to the incompleteness of the 2MASS survey at fainter K-band magnitudes, we can only set a lower limit to the radio-detected red quasar population of >20-30%.Comment: 80 pages (single-column, preprint format) 20 figures, Accepted for publicated in Ap
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