Sovereign Wealth Funds in the Next Decade

A prolonged and multispeed recovery period, its associated policy response, and the new global financial landscape might have important bearing on the size and allocation of sovereign wealth funds (SWFs) assets. SWFs could become a driving force in South-South flows, boosting global wealth by helping recycle large savings in surplus countries toward more productive investments. Whereas they indeed represent a new opportunity for developing countries, they also carry challenges for both home and host countries.Sovereign wealth funds, SWF, recovery, economic recovery, financial crisis, investments, developing countries, South-South, savings, surplus

Subnormality for arbitrary powers of 2-variable weighted shifts whose restrictions to a large invariant subspace are tensor products

The Lifting Problem for Commuting Subnormals (LPCS) asks for necessary and sufficient conditions for a pair of subnormal operators on Hilbert space to admit commuting normal extensions. \ We study LPCS within the class of commuting 2-variable weighted shifts $\mathbf{T} \equiv (T_1,T_2)$ with subnormal components $T_1$ and $T_2$, acting on the Hilbert space $\ell ^2(\mathbb{Z}^2_+)$ with canonical orthonormal basis $\{e_{(k_1,k_2)}\}_{k_1,k_2 \geq 0}$ . \ The \textit{core} of a commuting 2-variable weighted shift $\mathbf{T}$, $c(\mathbf{T})$, is the restriction of $\mathbf{T}$ to the invariant subspace generated by all vectors $e_{(k_1,k_2)}$ with $k_1,k_2 \geq 1$; we say that $c(\mathbf{T})$ is of \textit{tensor form} if it is unitarily equivalent to a shift of the form $(I \otimes W_\alpha, W_\beta \otimes I)$, where $W_\alpha$ and $W_\beta$ are subnormal unilateral weighted shifts. \ Given a 2-variable weighted shift $\mathbf{T}$ whose core is of tensor form, we prove that LPCS is solvable for $\mathbf{T}$ if and only if LPCS is solvable for any power $\mathbf{T}^{(m,n)}:=(T^m_1,T^n_2)$ ($m,n\geq 1$). \Comment: article in pres

When is hyponormality for 2-variable weighted shifts invariant under powers?

For 2-variable weighted shifts W_{(\alpha,\beta)}(T_1, T_2) we study the invariance of (joint) k- hyponormality under the action (h,\ell) -> W_{(\alpha,\beta)}^{(h,\ell)}(T_1, T_2):=(T_1^k,T_2^{\ell}) (h,\ell >=1). We show that for every k >= 1 there exists W_{(\alpha,\beta)}(T_1, T_2) such that W_{(\alpha,\beta)}^{(h,\ell)}(T_1, T_2) is k-hyponormal (all h>=2,\ell>=1) but W_{(\alpha,\beta)}(T_1, T_2) is not k-hyponormal. On the positive side, for a class of 2-variable weighted shifts with tensor core we find a computable necessary condition for invariance. Next, we exhibit a large nontrivial class for which hyponormality is indeed invariant under all powers; moreover, for this class 2-hyponormality automatically implies subnormality. Our results partially depend on new formulas for the determinant of generalized Hilbert matrices and on criteria for their positive semi-definiteness

Threefold Flops via Matrix Factorization

The explicit McKay correspondence, as formulated by Gonzalez-Sprinberg and Verdier, associates to each exceptional divisor in the minimal resolution of a rational double point a matrix factorization of the equation of the rational double point. We study deformations of these matrix factorizations, and show that they exist over an appropriate "partially resolved" deformation space for rational double points of types A and D. As a consequence, all simple flops of lengths 1 and 2 can be described in terms of blowups defined from matrix factorizations. We also formulate conjectures which would extend these results to rational double points of type E and simple flops of length greater than 2.Comment: v2: minor change