627 research outputs found
Monetary Policy and Multiple Equilibria
In this paper, we characterize conditions under which interest rate feedback rules wherby the nominal interest rate is set as an increasing function of the inflation rate generate multiple equilibria. We show that these conditions depend not only on the fiscal regime (as emphasized in the fiscal theory of the price level) but also on the way in which money is assumed to enter preferences and technology. We analyze this issue in flexible and sticky price environments.MONETARY POLICY ; PRICES ; INTEREST RATE
Avoiding Liquidity Traps
Once the zero bound on nominal interest rates is taken into account, Taylor-type interest-rate feedback rules give rise to unintended self-fulfilling decelerating inflation paths and aggregate fluctuations driven by arbitrary revisions in expectations. These undesirable equilibria exhibit the essential features of liquidity traps, as monetary policy is ineffective in bringing about the government's goals regarding the stability of output and prices. This paper proposes several fiscal and monetary policies that preserve the appealing features of Taylor rules, such as local uniqueness of equilibrium near the inflation target, and at the same time rule out the deflationary expectations that can lead an economy into a liquidity trap.TAYLOR RULES; LIQUIDITY TRAPS; ZERO BOUND ON NOMINAL INTEREST RATES.
Structure Theorem and Isomorphism Test for Graphs with Excluded Topological Subgraphs
We generalize the structure theorem of Robertson and Seymour for graphs
excluding a fixed graph as a minor to graphs excluding as a topological
subgraph. We prove that for a fixed , every graph excluding as a
topological subgraph has a tree decomposition where each part is either "almost
embeddable" to a fixed surface or has bounded degree with the exception of a
bounded number of vertices. Furthermore, we prove that such a decomposition is
computable by an algorithm that is fixed-parameter tractable with parameter
.
We present two algorithmic applications of our structure theorem. To
illustrate the mechanics of a "typical" application of the structure theorem,
we show that on graphs excluding as a topological subgraph, Partial
Dominating Set (find vertices whose closed neighborhood has maximum size)
can be solved in time time. More significantly, we show
that on graphs excluding as a topological subgraph, Graph Isomorphism can
be solved in time . This result unifies and generalizes two
previously known important polynomial-time solvable cases of Graph Isomorphism:
bounded-degree graphs and -minor free graphs. The proof of this result needs
a generalization of our structure theorem to the context of invariant treelike
decomposition
Deciding first-order properties of nowhere dense graphs
Nowhere dense graph classes, introduced by Nesetril and Ossona de Mendez,
form a large variety of classes of "sparse graphs" including the class of
planar graphs, actually all classes with excluded minors, and also bounded
degree graphs and graph classes of bounded expansion.
We show that deciding properties of graphs definable in first-order logic is
fixed-parameter tractable on nowhere dense graph classes. At least for graph
classes closed under taking subgraphs, this result is optimal: it was known
before that for all classes C of graphs closed under taking subgraphs, if
deciding first-order properties of graphs in C is fixed-parameter tractable,
then C must be nowhere dense (under a reasonable complexity theoretic
assumption).
As a by-product, we give an algorithmic construction of sparse neighbourhood
covers for nowhere dense graphs. This extends and improves previous
constructions of neighbourhood covers for graph classes with excluded minors.
At the same time, our construction is considerably simpler than those. Our
proofs are based on a new game-theoretic characterisation of nowhere dense
graphs that allows for a recursive version of locality-based algorithms on
these classes. On the logical side, we prove a "rank-preserving" version of
Gaifman's locality theorem.Comment: 30 page
On the Parameterized Intractability of Monadic Second-Order Logic
One of Courcelle's celebrated results states that if C is a class of graphs
of bounded tree-width, then model-checking for monadic second order logic
(MSO_2) is fixed-parameter tractable (fpt) on C by linear time parameterized
algorithms, where the parameter is the tree-width plus the size of the formula.
An immediate question is whether this is best possible or whether the result
can be extended to classes of unbounded tree-width. In this paper we show that
in terms of tree-width, the theorem cannot be extended much further. More
specifically, we show that if C is a class of graphs which is closed under
colourings and satisfies certain constructibility conditions and is such that
the tree-width of C is not bounded by \log^{84} n then MSO_2-model checking is
not fpt unless SAT can be solved in sub-exponential time. If the tree-width of
C is not poly-logarithmically bounded, then MSO_2-model checking is not fpt
unless all problems in the polynomial-time hierarchy can be solved in
sub-exponential time
Isomorphism Testing for Graphs Excluding Small Minors
We prove that there is a graph isomorphism test running in time on -vertex graphs excluding some -vertex graph as a minor. Previously known bounds were (Ponomarenko, 1988) and (Babai, STOC 2016). For the algorithm we combine recent advances in the group-theoretic graph isomorphism machinery with new graph-theoretic arguments
EPG-representations with small grid-size
In an EPG-representation of a graph each vertex is represented by a path
in the rectangular grid, and is an edge in if and only if the paths
representing an share a grid-edge. Requiring paths representing edges
to be x-monotone or, even stronger, both x- and y-monotone gives rise to three
natural variants of EPG-representations, one where edges have no monotonicity
requirements and two with the aforementioned monotonicity requirements. The
focus of this paper is understanding how small a grid can be achieved for such
EPG-representations with respect to various graph parameters.
We show that there are -edge graphs that require a grid of area
in any variant of EPG-representations. Similarly there are
pathwidth- graphs that require height and area in
any variant of EPG-representations. We prove a matching upper bound of
area for all pathwidth- graphs in the strongest model, the one where edges
are required to be both x- and y-monotone. Thus in this strongest model, the
result implies, for example, , and area bounds
for bounded pathwidth graphs, bounded treewidth graphs and all classes of
graphs that exclude a fixed minor, respectively. For the model with no
restrictions on the monotonicity of the edges, stronger results can be achieved
for some graph classes, for example an area bound for bounded treewidth
graphs and bound for graphs of bounded genus.Comment: Appears in the Proceedings of the 25th International Symposium on
Graph Drawing and Network Visualization (GD 2017
The Hardness of Embedding Grids and Walls
The dichotomy conjecture for the parameterized embedding problem states that
the problem of deciding whether a given graph from some class of
"pattern graphs" can be embedded into a given graph (that is, is isomorphic
to a subgraph of ) is fixed-parameter tractable if is a class of graphs
of bounded tree width and -complete otherwise.
Towards this conjecture, we prove that the embedding problem is
-complete if is the class of all grids or the class of all walls
Parameterized Directed -Chinese Postman Problem and Arc-Disjoint Cycles Problem on Euler Digraphs
In the Directed -Chinese Postman Problem (-DCPP), we are given a
connected weighted digraph and asked to find non-empty closed directed
walks covering all arcs of such that the total weight of the walks is
minimum. Gutin, Muciaccia and Yeo (Theor. Comput. Sci. 513 (2013) 124--128)
asked for the parameterized complexity of -DCPP when is the parameter.
We prove that the -DCPP is fixed-parameter tractable.
We also consider a related problem of finding arc-disjoint directed
cycles in an Euler digraph, parameterized by . Slivkins (ESA 2003) showed
that this problem is W[1]-hard for general digraphs. Generalizing another
result by Slivkins, we prove that the problem is fixed-parameter tractable for
Euler digraphs. The corresponding problem on vertex-disjoint cycles in Euler
digraphs remains W[1]-hard even for Euler digraphs
Graphs Identified by Logics with Counting
We classify graphs and, more generally, finite relational structures that are
identified by C2, that is, two-variable first-order logic with counting. Using
this classification, we show that it can be decided in almost linear time
whether a structure is identified by C2. Our classification implies that for
every graph identified by this logic, all vertex-colored versions of it are
also identified. A similar statement is true for finite relational structures.
We provide constructions that solve the inversion problem for finite
structures in linear time. This problem has previously been shown to be
polynomial time solvable by Martin Otto. For graphs, we conclude that every
C2-equivalence class contains a graph whose orbits are exactly the classes of
the C2-partition of its vertex set and which has a single automorphism
witnessing this fact.
For general k, we show that such statements are not true by providing
examples of graphs of size linear in k which are identified by C3 but for which
the orbit partition is strictly finer than the Ck-partition. We also provide
identified graphs which have vertex-colored versions that are not identified by
Ck.Comment: 33 pages, 8 Figure
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