389 research outputs found
Testing Mundell’s Intuition of Endogenous OCA Theory
This paper presents an empirical assessment of the endogenous optimum currency area theory. Frankel and Rose (1998) study the endogeneity of a currency union through the lens of international trade flows. Our study extends Frankel and Rose's model by using FDI flows to test the original theory developed by Mundell in 1973. A gravity model is used to empirically assess the effectiveness of the convergence criteria by examining location specific advantages that guide multinational investment within the European Union. A fixed effects model based on a panel data of foreign direct investment (FDI) flows within the EU-15 shows that horizontal investment promotes the diffusion of the production process across the national border. Specifically, our results suggest that economic convergence ensured by belonging to the common currency area helps double FDI flows.economic integration, gravity model, endogenous optimum currency area
Testing mundell's intuition of endogenous OCA theory
This paper presents an empirical assessment of the endogenous optimum currency area theory. Frankel and Rose (1998) study the endogeneity of a currency union through the lens of international trade flows. Our study extends Frankel and Rose's model by using FDI flows to test the original theory developed by Mundell in 1973. A gravity model is used to empirically assess the effectiveness of the convergence criteria by examining location specific advantages that guide multinational investment within the European Union. A fixed effects model based on a panel data of foreign direct investment (FDI) flows within the EU-15 shows that horizontal investment promotes the diffusion of the production process across the national border. Specifically, our results suggest that economic convergence ensured by belonging to the common currency area helps double FDI flows
Bimodality and hysteresis in systems driven by confined L\'evy flights
We demonstrate occurrence of bimodality and dynamical hysteresis in a system
describing an overdamped quartic oscillator perturbed by additive white and
asymmetric L\'evy noise. Investigated estimators of the stationary probability
density profiles display not only a turnover from unimodal to bimodal character
but also a change in a relative stability of stationary states that depends on
the asymmetry parameter of the underlying noise term. When varying the
asymmetry parameter cyclically, the system exhibits a hysteresis in the
occupation of a chosen stationary state.Comment: 4 pages, 5 figures, 30 reference
Two Algebraic Process Semantics for Contextual Nets
We show that the so-called 'Petri nets are monoids' approach initiated by Meseguer and Montanari can be extended from ordinary place/transition Petri nets to contextual nets by considering suitable non-free monoids of places. The algebraic characterizations of net concurrent computations we provide cover both the collective and the individual token philosophy, uniformly along the two interpretations, and coincide with the classical proposals for place/transition Petri nets in the absence of read-arcs
Levy stable noise induced transitions: stochastic resonance, resonant activation and dynamic hysteresis
A standard approach to analysis of noise-induced effects in stochastic
dynamics assumes a Gaussian character of the noise term describing interaction
of the analyzed system with its complex surroundings. An additional assumption
about the existence of timescale separation between the dynamics of the
measured observable and the typical timescale of the noise allows external
fluctuations to be modeled as temporally uncorrelated and therefore white.
However, in many natural phenomena the assumptions concerning the
abovementioned properties of "Gaussianity" and "whiteness" of the noise can be
violated. In this context, in contrast to the spatiotemporal coupling
characterizing general forms of non-Markovian or semi-Markovian L\'evy walks,
so called L\'evy flights correspond to the class of Markov processes which
still can be interpreted as white, but distributed according to a more general,
infinitely divisible, stable and non-Gaussian law. L\'evy noise-driven
non-equilibrium systems are known to manifest interesting physical properties
and have been addressed in various scenarios of physical transport exhibiting a
superdiffusive behavior. Here we present a brief overview of our recent
investigations aimed to understand features of stochastic dynamics under the
influence of L\'evy white noise perturbations. We find that the archetypal
phenomena of noise-induced ordering are robust and can be detected also in
systems driven by non-Gaussian, heavy-tailed fluctuations with infinite
variance.Comment: 7 pages, 8 figure
Escape driven by -stable white noises
We explore the archetype problem of an escape dynamics occurring in a
symmetric double well potential when the Brownian particle is driven by {\it
white L\'evy noise} in a dynamical regime where inertial effects can safely be
neglected. The behavior of escaping trajectories from one well to another is
investigated by pointing to the special character that underpins the
noise-induced discontinuity which is caused by the generalized Brownian paths
that jump beyond the barrier location without actually hitting it. This fact
implies that the boundary conditions for the mean first passage time (MFPT) are
no longer determined by the well-known local boundary conditions that
characterize the case with normal diffusion. By numerically implementing
properly the set up boundary conditions, we investigate the survival
probability and the average escape time as a function of the corresponding
L\'evy white noise parameters. Depending on the value of the skewness
of the L\'evy noise, the escape can either become enhanced or suppressed: a
negative asymmetry causes typically a decrease for the escape rate
while the rate itself depicts a non-monotonic behavior as a function of the
stability index which characterizes the jump length distribution of
L\'evy noise, with a marked discontinuity occurring at . We find that
the typical factor of ``two'' that characterizes for normal diffusion the ratio
between the MFPT for well-bottom-to-well-bottom and well-bottom-to-barrier-top
no longer holds true. For sufficiently high barriers the survival probabilities
assume an exponential behavior. Distinct non-exponential deviations occur,
however, for low barrier heights.Comment: 8 pages, 8 figure
Oscillations in spectral behavior of total losses (1−R−T) in thin dielectric films
We explain reasons of oscillations frequently observed in total losses spectra (1−R−T) calculated on the basis of measurement spectral photometric data of thin film samples. The first reason of oscillations is related to difference in angles of incidence at which spectral transmittance and reflectance are measured. The second reason is an absorption in a thin film. The third reason is a slight thickness non-uniformity of the film. We observe a good agreement between theoretical models and corresponding measurements, which proves above statements on the origins of oscillations in total losses
Continuous time random walk with correlated waiting times
Based on the Langevin description of the Continuous Time Random Walk (CTRW),
we consider a generalization of CTRW in which the waiting times between the
subsequent jumps are correlated. We discuss the cases of exponential and slowly
decaying persistent power-law correlations between the waiting times as two
generic examples and obtain the corresponding mean squared displacements as
functions of time. In the case of exponential-type correlations the
(sub)diffusion at short times is slower than in the absence of correlations. At
long times the behavior of the mean squared displacement is the same as in
uncorrelated CTRW. For power-law correlations we find subdiffusion
characterized by the same exponent at all times, which appears to be smaller
than the one in uncorrelated CTRW. Interestingly, in the limiting case of an
extremely long power-law correlations, the (sub)diffusion exponent does not
tend to zero, but is bounded from below by the subdiffusion exponent
corresponding to a short time behavior in the case of exponential correlations
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