Lyapunov control-system synthesis of a highly resonant plant

Lyapunov control system synthesis of highly resonant plan

Technical Change, Investment and Energy Intensity

Abstract in HTML and technical report in PDF available on the Massachusetts Institute of Technology Joint Program on the Science and Policy of Global Change website (http://mit.edu/globalchange/www/).This paper analyzes the role of different components of technical change on energy intensity by applying a Translog variable cost function setting to the new EU KLEMS dataset for 3 selected EU countries (Italy, Finland and Spain). The framework applied represents an accounting of technical change components, comprising autonomous as well as embodied and induced technical change. The inducement of embodied technical change is introduced by an equation for the physical capital stock that is a fixed factor in the short-run. The dataset on capital services and user costs of capital in EUKLEMS enables explaining capital accumulation depending on factor prices. The model can be used for explaining and tracing back the long-run impact of prices and technical change on energy intensity.This paper is based on the EU KLEMS database, which has been funded by the European Commission, Research Directorate General as part of the 6th Framework Programme, Priority 8, “Policy Support and Anticipating Scientific and Technological Needs” (project 502049)

Optimal Capital Accumulation and Corporate Investment Behavior

No abstract provided.Economic

Assessment of Connections Between Knowledge- Based Economy Characteristics and Selected Macroeconomic Categories in the European Union's Countries by Means of Panel Models

The aim of the article is to analyze the impact of knowledge-based economy variables on the selected macroeconomic categories - the share of total investments in GDP and the employment rate- in European Union's countries in the years 2000-2007, conducted with application of panel models.Celem artykułu jest analiza wpływu zmiennych opisujących gospodarkę opartą na wiedzy na podstawowe kategorie makroekonomiczne - udział całkowitych inwestycji w PKB i stopę zatrudnienia - w krajach Unii Europejskiej (z podziałem na kraje UE-15 i nowe kraje członkowskie UE) w latach 2000-2007, przeprowadzona w oparciu o modele panelowe

On the appearance of Eisenstein series through degeneration

Let $\Gamma$ be a Fuchsian group of the first kind acting on the hyperbolic upper half plane $\mathbb H$, and let $M = \Gamma \backslash \mathbb H$ be the associated finite volume hyperbolic Riemann surface. If $\gamma$ is parabolic, there is an associated (parabolic) Eisenstein series, which, by now, is a classical part of mathematical literature. If $\gamma$ is hyperbolic, then, following ideas due to Kudla-Millson, there is a corresponding hyperbolic Eisenstein series. In this article, we study the limiting behavior of parabolic and hyperbolic Eisenstein series on a degenerating family of finite volume hyperbolic Riemann surfaces. In particular, we prove the following result. If $\gamma \in \Gamma$ corresponds to a degenerating hyperbolic element, then a multiple of the associated hyperbolic Eisenstein series converges to parabolic Eisenstein series on the limit surface.Comment: 15 pages, 2 figures. This paper has been accepted for publication in Commentarii Mathematici Helvetic

The impact of telecommunication technologies on competition in services and goods markets: Empirical evidence

In this paper we empirically show that a more intensive use and wider adoption of telecommunication technologies significantly increases the level of product market competition in services and goods markets. Our results are consistent with the view that the use of telecommunication technologies can lower the costs of entry and search. These findings are robust to various measures of competition and a wide range of specification checks

Worker remittances and the global preconditions of ‘smart development’

With the growing environmental crisis affecting our globe, ideas to weigh economic or social progress by the ‘energy input’ necessary to achieve it are increasingly gaining acceptance. This question is intriguing and is being dealt with by a growing number of studies, focusing on the environmental price of human progress. Even more intriguing, however, is the question of which factors of social organization contribute to a responsible use of the resources of our planet to achieve a given social result (‘smart development’). In this essay, we present the first systematic study on how migration – or rather, more concretely, received worker remittances per GDP – helps the nations of our globe to enjoy social and economic progress at a relatively small environmental price. We look at the effects of migration on the balance sheets of societal accounting, based on the ‘ecological price’ of the combined performance of democracy, economic growth, gender equality, human development, research and development, and social cohesion. Feminism in power, economic freedom, population density, the UNDP education index as well as the receipt of worker remittances all significantly contribute towards a ‘smart overall development’, while high military expenditures and a high world economic openness are a bottleneck for ‘smart overall development’

The effects of financialisation and financial development on investment: Evidence from firm-level data in Europe

In this paper we estimate the effects of financialization on physical investment in selected western European countries using panel data based on the balance-sheets of publicly listed non-financial companies (NFCs) supplied by Worldscope for the period 1995-2015. We find robust evidence of an adverse effect of both financial payments (interests and dividends) and financial incomes on investment in fixed assets by the NFCs. This finding is robust for both the pool of all Western European firms and single country estimations. The negative impacts of financial incomes are non-linear with respect to the companies’ size: financial incomes crowd-out investment in large companies, and have a positive effect on the investment of only small, relatively more credit-constrained companies. Moreover, we find that a higher degree of financial development is associated with a stronger negative effect of financial incomes on companies’ investment. This finding challenges the common wisdom on ‘finance-growth nexus’. Our findings support the ‘financialization thesis’ that the increasing orientation of the non-financial sector towards financial activities is ultimately leading to lower physical investment, hence to stagnant or fragile growth, as well as long term stagnation in productivity