Clan structure analysis and new physics signals in pp collisions at LHC

The study of possible new physics signals in global event properties in pp collisions in full phase space and in rapidity intervals accessible at LHC is presented. The main characteristic is the presence of an elbow structure in final charged particle MD's in addition to the shoulder observed at lower c.m. energies.Comment: 9 pages, talk given at Focus on Multiplicity (Bari, Italy, June 2004

International Capital Mobility and Tax Evasion

This paper studies the welfare effects of international investment to evade domestic taxes on domestic investment income. Capital mobility for tax evasion eliminates distortions in the intertemporal allocation of consumption, but introduces distortions in domestic production. Conversely, a regime where residents pay taxes on all investment income, domestic and foreign, introduces distortions in intertemporal consumption allocation, but leaves domestic production distortion-free. The relative magnitude of the interest elasticity of savings and the interest elasticity of domestic investment determines the welfare effects of capital movements for the purpose tax evasion.

Scenarios for multiplicity distributions in pp collisions in the TeV energy region

Possible scenarios based on available experimental data and phenomenological knowledge of the GeV energy region are extended to the TeV energy region in the framework of the weighted superposition mechanism of soft and semi-hard events. KNO scaling violations, forward-backward multiplicity correlations, Hq vs. q oscillations and shoulder structures are discussed.Comment: 10 pages, 10 figures, talk given at "Focus on Multiplicity" (Bari, Italy, June 2004

Fiscal Policy, the Real Exchange Rate, and Commodity Prices

The role of the international commodity market in transmzttmg disturbances is considered in a model that incorporates commodities as an input in production. The analysis employs a three-country framework: a liquidity-constrained commodity supplier and two industrial countries that import the commodity, export differentiated manufactured goods, and hold the outstanding debt of the commodity exporter. In this setting the impact of changes infiscal policy, commodity supplies, and the real interest rate are assessed. Particular attention is paid to the responses of the real exchange rate, commodity prices, and the international distribution of debt to the various shocks.

Recent Estimates of Time-Variation in the Conditional Variance and in the Exchange Risk Premium

The optimal-diversification model of investors' portfolio behavior can give a linear relationship between the exchange risk premium and the conditional exchange rate variance. This note surveys recent empirical work that allows for the conditional variance itself, and therefore the risk premium, to vary over time. In particular, it examines the implications of recent empirical estimates for earlier arguments, based on the assumption that the conditional variance was constant over time, that the exchange risk premium had to be small in magnitude and variability.