Parallel submanifolds with an intrinsic product structure

Let $M$ and $N$ be Riemannian symmetric spaces and $f:M\to N$ be a parallel isometric immersion. We additionally assume that there exist simply connected, irreducible Riemannian symmetric spaces $M_i$ with $\dim(M_i)\geq 2$ for $i=1,...,r$ such that $M\cong M_1\times...\times M_r$ . As a starting point, we describe how the intrinsic product structure of $M$ is reflected by a distinguished, fiberwise orthogonal direct sum decomposition of the corresponding first normal bundle. Then we consider the (second) osculating bundle \osc f, which is a $\nabla^N$-parallel vector subbundle of the pullback bundle $f^*TN$, and establish the existence of $r$ distinguished, pairwise commuting, $\nabla^N$-parallel vector bundle involutions on \osc f . Consequently, the "extrinsic holonomy Lie algebra" of \osc f bears naturally the structure of a graded Lie algebra over the Abelian group which is given by the direct sum of $r$ copies of $\Z/2 \Z$ . Our main result is the following: Provided that $N$ is of compact or non-compact type, that $\dim(M_i)\geq 3$ for $i=1,...,r$ and that none of the product slices through one point of $M$ gets mapped into any flat of $N$, we can show that $f(M)$ is a homogeneous submanifold of $N$ .Comment: 25 pages, Appendix A added, a few corrections, new numbering of the theorem

Capital inflows and asset prices: evidence from emerging Asia : [Version 4 September 2012]

The withdrawal of foreign capital from emerging countries at the height of the recent financial crisis and its quick return sparked a debate about the impact of capital flow surges on asset markets. This paper addresses the response of property prices to an inflow of foreign capital. For that purpose we estimate a panel VAR on a set of Asian emerging market economies, for which the waves of inflows were particularly pronounced, and identify capital inflow shocks based on sign restrictions. Our results suggest that capital inflow shocks have a significant effect on the appreciation of house prices and equity prices. Capital inflow shocks account for - roughly - twice the portion of overall house price changes they explain in OECD countries. We also address crosscountry differences in the house price responses to shocks, which are most likely due to differences in the monetary policy response to capital inflows

Foundationalism and Coherentism From a Contextualist Point of View

Here is the picture classical foundationalism draws of empirical justification: Our system of beliefs is structured like a pyramid, it consists of a broad foundation of perceptual beliefs, i.e. beliefs reporting the contents of our perceptual states, and a superstructure of worldly beliefs, i.e. beliefs reporting what is going on in the world around us. The beliefs building the foundation, the perceptual beliefs, are to be justified noninferentially, by direct appeal to our perceptual experiences, while the beliefs in the superstructure, beliefs about what is going on in the world around us, are to be justified inferentially, i.e. by appeal to other beliefs. Ultimately, our worldly beliefs thus rest on our perceptual beliefs, which in turn draw upon our perceptual experiences

Gradability and Knowledge

Epistemic contextualism (‘EC’), the view that the truth-values of knowledge attributions may vary with the context of ascription, has a variety of different linguistic implementations. On one of the implementations most popular in the early days of EC, the predicate ‘knows p’ functions semantically similarly to gradable adjectives such as ‘flat’, ‘tall’, or ‘empty’. In recent work Jason Stanley and John Hawthorne have presented powerful arguments against such implementations of EC. In this article I briefly systematize the contextualist analogy to gradable adjectives, present Stanley’s argument against the analogy, and offer a contextualist response that abandons the analogy in favor of modeling the semantics of ‘knows p’ along the lines of quantifier expressions. I then present Hawthorne’s objection to the views presented, and finally conclude by outlining an argument to the effect that ‘knows p’ is an automatic indexical and as such to be expected to function differently from many other indexicals that the term has been compared to in the literature. I finally point out that no analogy should be expected to be perfect, and that no harm is done by postulating some unique behavior of ‘knows p’

Inflation Targeting and Regional Inflation Persistence: Evidence from Korea

The adoption of a credible monetary policy regime such as inflation targeting is known to reduce the persistence of inflation fluctuations. This conclusion, however, is derived from aggregate inflation or sectoral inflation rates, not from regional inflation data. This paper studies the regional dimension of inflation targeting, i.e. the consequences of inflation targeting for regional inflation persistence. Based on data for Korean cities and provinces it is shown that the adoption of inflation targeting leads (i) to a fall in inflation persistence at the regional level and (ii) to a reduction in the cross-regional heterogeneity in inflation persistence. A common factor model lends further support to the role of the common component, and hence monetary policy, for regional inflation persistence.inflation targeting, inflation persistence, monetary policy regime, regional inflation, factor model