Elliptic Flow and Jet Quenching of a Parton System after Relativistic Heavy Ion Collision

We obtain the initial phase space distribution after relativistic heavy ion collision by the CGC shattering method incorporating the uncertainty principle and solve the semi-classical Boltzmann equation which includes the gluon radiation processes. We present as a function of time the attenuation rate of high $p_T$ partons, which have transverse momenta over 6 $GeV/c$, in the medium which is formed after relativistic heavy ion collision. We calculate the elliptic flow as a function of an impact parameter, time and transverse momentum and also present the polar anisotropy, which gives the initial condition for color filamentation.Comment: 14 pages, applied for J. Korean Physical Societ

Coalitional Manipulation on Communication Network

In an abstract model of division problems, we study division rules that are not manipulable through a reallocation of individual characteristic vectors within a coalition (e.g. reallocation of claims in bankruptcy problems). A coalition can be formed if members of the coalition are connected on a communication network, or a graph. We offer a characterization of non-manipulable division rules without any assumption on the structure of communication network. As corollaries, we obtain a number of earlier characterization results established with the assumption of complete network (complete graph) in various specialized settings. Moreover, our characterization, as we show, can be quite different from the earlier results depending on the network structure: for example, when the network is a tree, much larger family of rules are shown to be non-manipulable. The abstract model we consider can have various special examples such as bankruptcy problems, surplus sharing problems, cost sharing problems, social choice with transferable utility, etcDivision problem; Coalitional manipulation; Non-manipulability; Reallocation-proofness; Non-bossiness; Network

Inequality, the price of nontradables, and the real exchange rate : theory and cross-country evidence

The author provides theoretical and empirical evidence of a negative association between income inequality and real exchange rates. First, he builds a theoretical model showing the transmission mechanism from inequality to real exchange rates. Second, using cross-country data, he demonstrates that the theoretical argument has empirical support. The association is large, significant, and robust to alternative specifications of the reduced form model and estimation methodologies. These findings provide empirical support for Poverty Reduction Strategy Papers, government strategies agreed on with the World Bank that hinge on four major objectives:accelerating equity-based growth, guaranteeing access to basic social services for the poor, expanding opportunities for employment and income-generating activities for the poor, and promoting good governance. The author's analysis indicates that"equity-based growth"and"export-driven growth"are compatible policy goals. But the negative relationship between inequality and real exchange rates does not imply that policies aimed at dramatic redistribution will automatically lead to real depreciation of the domestic currency, improve the external balance, and accelerate economic growth.Payment Systems&Infrastructure,Economic Theory&Research,Fiscal&Monetary Policy,Environmental Economics&Policies,Poverty Impact Evaluation,Macroeconomic Management,Economic Stabilization,Economic Theory&Research,Inequality,Achieving Shared Growth

Initial Parton Distribution just after Heavy Ion Collisions

We study the initial distribution of a parton system which is formed just after relativistic heavy ion collision by the elastic scattering among the constituent partons in details and analyze the baryon and strangeness contents of the primary parton system. We present the rapidity and energy distributions of the system.Comment: 17 page

Progressive and merging-proof taxation

We investigate the implications and logical relations between progressivity (a principle of distributive justice) and merging-proofness (a strategic principle) in taxation. By means of two characterization results, we show that these two principles are intimately related, despite their different nature. In particular, we show that, in the presence of continuity and consistency (a widely accepted framework for taxation) progressivity implies merging-proofness and that the converse implication holds if we add an additional strategic principle extending the scope of merging-proofness to a multilateral setting. By considering operators on the space of taxation rules, we also show that progressivity is slightly more robust than merging-proofness.taxation, progressivity, merging-proofness, consistency, operators

On the equivalence between progressive taxation and inequality reduction

We establish the precise connections between progressive taxation and inequality reduction, in a setting where the level of tax revenue to be raised is endogenously fixed and tax schemes are balanced. We show that, in contrast with the traditional literature on taxation, the equivalence between inequality reduction and the combination of progressivity and income order preservation does not always hold in this setting. However, we show that, among rules satisfying consistency and, either revenue continuity, or revenue monotonicity, the equivalence remains intact.progressivity, inequality reduction, income order preservation, consistency, taxation

Progressive and merging-proof taxation

We investigate the implications and logical relations between progressivity (a principle of distributive justice) and merging-proofness (a strategic principle) in taxation. By means of two characterization results, we show that these two principles are intimately related, despite their different nature. In particular, we show that, in the presence of continuity and consistency (a widely accepted framework for taxation) progressivity implies merging-proofness and that the converse implication holds if we add an additional strategic principle extending the scope of merging-proofness to a multilateral setting. By considering operators on the space of taxation rules, we also show that progressivity is slightly more robust than merging-proofness.taxation, progressivity, merging-proofness, consistency, operators.

Dynamic Impact Of Financial Structure On The Volatility Of The Real Exchange Rate

This study investigates the role of financial structure on the volatility of real effective exchange rates in Korea. (1). Historical developments of size, activity and efficiency of financial structure, including banking and nonblank financial institutions, are investigated for the last three decades in Korea. (2). Using the concept of bank-based and market-based financial structure, it is shown that there exists a stable long-run relationships between the financial structure of an economy and the volatility of real effective exchange rates. (3). Development of market-based system can successfully isolate foreign shocks and reduce the volatility of the real effective exchange rates while increased bank-based system destabilize the volatility of the real exchange. This can be explained by the strong requirement of information disclosure in the stock market induce risk-sharing activities of investors. (4). Policy implication is that transfer of risk from banking sector to stock market or non-bank financial institutions could stabilize the volatility of asset prices

Estimation Of Labor Demand Elasticity For The RMSM-LP: Revised Minimum Standard Model For Labor And Poverty Module

The RMSM-LP (Revised Minimum Standard Model for Labor and Poverty) is a Microsoft Excel-based simulation package for facilitating the forecasting, monitoring and analysis of financial flows of developing countries developed by the World Bank. It models the demand side of the economy by using an economy wide consistent flow-of-funds framework in which different agents are identified. More precisely, the basic model includes the National Accounts; Balance of payments; general Government; Monetary survey and a rest of the economy account. In addition to the above-mentioned sectors, the model forecasts detailed trade accounts and foreign debt flows and stocks. As such it can be used to produce a comprehensive outlook for a developing economies.To be able to calibrate RMSM-LP module, we need to provide labor demand elasticity of wage and output for two heterogeneous labor groups (skilled and unskilled). However, in reality, reliable labor data is unavailable or do not have sufficient observations for the efficient estimation of labor demand elasticity for many developing countries. For this reason, (1) we do a literature survey to find acceptable ranges of wage and output elasticity for the labor demand and (2) provide some labor database accessible for economists and (3) provide actual estimates of wage and output elasticity of labor demand using aggregated data of manufacturing and agricultural sector for two regions (Africa and Latin America).Finally, based on survey and actual estimates, we provide an acceptable range of elasticity for the proper calibration of RMSM-LP module

Monte Carlo Simulation Of The Portfolio-Balance Model Of Exchange Rates: Finite Sample Properties Of The GMM Estimator

Using Monte Carlo simulation of the Portfolio-balance model of the exchange rates, we report finite sample properties of the GMM estimator for testing over-identifying restrictions in the simultaneous equations model. F-form of Sargan’s statistic performs better than its chi-squared form while Hansen’s GMM statistic has the smallest bias