Accumulation and Growth in a Two-Country Model: A Simulation Approach

This paper analyzes saving and capital accumulation in a two-good growth model of two market economies in which economic agents optimize with perfect foresight. The goal is to present a model in which short-run dynamics and the steady-state are soundly integrated. We stress the importance of asset markets as the linkage that transmits disturbances both internationally and intertemporally. While many components of the model described below can be found in the literature on optimal consumption, investment and international growth models, we provide a consistent synthesis. Our framework permits the analysis of structural adjustment in the global economy, and the dynamic effects of a wide range of public policies.

Creating a Market Economy in Eastern Europe: The Case of Poland

macroeconomics, market economy, Eastern Europe, Poland

Prospects for Russia's Economic Reforms

macroeconomics, Russia, Economic Reforms

Geography, Demography, and Economic Growth in Africa

macroeconomics, Geography, Demography, Economic Growth, Africa

Graphs, matroids, and geometric lattices

AbstractIt is shown that two triply connected graphs are isomorphic if their associated geometric lattices are isomorphic. The notion of vertex in a graph is described in terms of irreducible hyperplanes. Finally, necessary and sufficient conditions are given that a lattice be isomorphic to the geometric lattice associated with a graph

Efficient posterior sampling for high-dimensional imbalanced logistic regression

High-dimensional data are routinely collected in many areas. We are particularly interested in Bayesian classification models in which one or more variables are imbalanced. Current Markov chain Monte Carlo algorithms for posterior computation are inefficient as $n$ and/or $p$ increase due to worsening time per step and mixing rates. One strategy is to use a gradient-based sampler to improve mixing while using data sub-samples to reduce per-step computational complexity. However, usual sub-sampling breaks down when applied to imbalanced data. Instead, we generalize piece-wise deterministic Markov chain Monte Carlo algorithms to include importance-weighted and mini-batch sub-sampling. These approaches maintain the correct stationary distribution with arbitrarily small sub-samples, and substantially outperform current competitors. We provide theoretical support and illustrate gains in simulated and real data applications.Comment: 4 figure

Normal frames for non-Riemannian connections

The principal properties of geodesic normal coordinates are the vanishing of the connection components and first derivatives of the metric components at some point. It is well-known that these hold only at points where the connection has vanishing torsion and non-metricity. However, it is shown that normal frames, possessing the essential features of normal coordinates, can still be constructed when the connection is non-Riemannian.Comment: 4 pages, plain TeX. To appear in Class. Quantum Gra

Accumulation and Growth in a Two-Country Model: A Simulation

This paper analyzes saving and capital accumulation in a two-good growth model of two market economies in which economic agents optimize with perfect foresight. The goal is to present a model in which short-run dynamics and the steady-state are soundly integrated. We stress the importance of asset markets as the linkage that transmits disturbances both internationally and intertemporally. While many components of the model described below can be found in the literature on optimal consumption, investment and international growth models, we provide a consistent synthesis. Our framework permits the analysis of structural adjustment in the global economy, and the dynamic effects of a wide range of public policies