Terms of Trade Shocks and Endogenous Search Unemployment: A Two-sector Model with Non-Traded goods

We develop a simple and tractable two-sector search model featuring a non-traded sector and endogenous search unemployment to examine the impact of terms of trade shocks on unemployment. We show that changes in terms of trade will not only lead to employment reallocation across sectors, as in the traditional trade models, but more importantly, impact upon search unemployment within each sector. Specifically, we show that an improvement (deterioration) of terms of trade reduces (increases) unemployment rates in both traded and non-traded sectors.two-sector search model, trade and unemployment, non-traded good

EMM: Energy-Aware Mobility Management for Mobile Edge Computing in Ultra Dense Networks

Merging mobile edge computing (MEC) functionality with the dense deployment of base stations (BSs) provides enormous benefits such as a real proximity, low latency access to computing resources. However, the envisioned integration creates many new challenges, among which mobility management (MM) is a critical one. Simply applying existing radio access oriented MM schemes leads to poor performance mainly due to the co-provisioning of radio access and computing services of the MEC-enabled BSs. In this paper, we develop a novel user-centric energy-aware mobility management (EMM) scheme, in order to optimize the delay due to both radio access and computation, under the long-term energy consumption constraint of the user. Based on Lyapunov optimization and multi-armed bandit theories, EMM works in an online fashion without future system state information, and effectively handles the imperfect system state information. Theoretical analysis explicitly takes radio handover and computation migration cost into consideration and proves a bounded deviation on both the delay performance and energy consumption compared to the oracle solution with exact and complete future system information. The proposed algorithm also effectively handles the scenario in which candidate BSs randomly switch on/off during the offloading process of a task. Simulations show that the proposed algorithms can achieve close-to-optimal delay performance while satisfying the user energy consumption constraint.Comment: 14 pages, 6 figures, an extended version of the paper submitted to IEEE JSA