Population ageing and public pension reforms in a small open economy

This paper aims to address the issue of public pension reforms under demographic ageing that is likely to occur in Europe over the next 50 years. Three possible scenarios are analysed in a Blanchard OLG framework. These include: i) a decrease both in public pensions and the lump sum labour income tax, ii) a decrease both in public pensions and the distortionary corporate tax, iii) an increase in the retirement age. The analysis focuses on the effects of these fiscal policies on key economic variables such as consumption, private and public debt, output and wages. Quantitative experiments assess the impact of different fiscal policies in terms of public debt sustainability but most importantly suggest policies that smooth the transition of the economy to the new equilibrium. The main results suggest that the adverse effects of pension reforms on consumption are moderated when they are accompanied by appropriate taxation policies. In particular, when the tax response is rapid most of the adverse movement in consumption is avoided while public and national debt reach lower equilibrium levels

Fiscal variables and bond spreads: evidence from eastern European countries and Turkey

We investigate the impact of fiscal variables on bond yield spreads relative to US Treasury bonds in the Czech Republic, Hungary, Poland, Russia and Turkey from May 1998 to December 2007. To account for the importance of market expectations we use projected values for fiscal and macroeconomic variables generated from Consensus Economics Forecasts. Moreover, we compare results from panel regressions with those from country (seemingly unrelated regression) estimates, and conduct analogous regressions for a control group of Latin American countries. We find that the role of the individual explanatory variables, including the importance of fiscal variables, varies across countries. JEL Classification: C33, E43, E62, H62Budget deficits, determination of interest rates, Eastern European countries, Fiscal Policy

ClassCut for Unsupervised Class Segmentation

Abstract. We propose a novel method for unsupervised class segmentation on a set of images. It alternates between segmenting object instances and learning a class model. The method is based on a segmentation energy defined over all images at the same time, which can be optimized efficiently by techniques used before in interactive segmentation. Over iterations, our method progressively learns a class model by integrating observations over all images. In addition to appearance, this model captures the location and shape of the class with respect to an automatically determined coordinate frame common across images. This frame allows us to build stronger shape and location models, similar to those used in object class detection. Our method is inspired by interactive segmentation methods [1], but it is fully automatic and learns models characteristic for the object class rather than specific to one particular object/image. We experimentally demonstrate on the Caltech4, Caltech101, and Weizmann horses datasets that our method (a) transfers class knowledge across images and this improves results compared to segmenting every image independently; (b) outperforms Grabcut [1] for the task of unsupervised segmentation; (c) offers competitive performance compared to the state-of-the-art in unsupervised segmentation and in particular it outperforms the topic model [2].

Artificial-intelligence-driven scanning probe microscopy

Scanning probe microscopy (SPM) has revolutionized the fields of materials, nano-science, chemistry, and biology, by enabling mapping of surface properties and surface manipulation with atomic precision. However, these achievements require constant human supervision; fully automated SPM has not been accomplished yet. Here we demonstrate an artificial intelligence framework based on machine learning for autonomous SPM operation (DeepSPM). DeepSPM includes an algorithmic search of good sample regions, a convolutional neural network to assess the quality of acquired images, and a deep reinforcement learning agent to reliably condition the state of the probe. DeepSPM is able to acquire and classify data continuously in multi-day scanning tunneling microscopy experiments, managing the probe quality in response to varying experimental conditions. Our approach paves the way for advanced methods hardly feasible by human operation (e.g., large dataset acquisition and SPM-based nanolithography). DeepSPM can be generalized to most SPM techniques, with the source code publicly available

Charge-imbalance effects in intrinsic Josephson systems

We report on two types of experiments with intrinsic Josephson systems made from layered superconductors which show clear evidence of nonequilibrium effects: 1. In 2-point measurements of IV-curves in the presence of high- frequency radiation a shift of the voltage of Shapiro steps from the canonical value hf/(2e) has been observed. 2. In the IV-curves of double-mesa structures an influence of the current through one mesa on the voltage measured on the other mesa is detected. Both effects can be explained by charge-imbalance on the superconducting layers produced by the quasi-particle current, and can be described successfully by a recently developed theory of nonequilibrium effects in intrinsic Josephson systems.Comment: 8pages, 9figures, submitted to Phys. Rev.

Dynamical mean-field theory of indirect magnetic exchange

To analyze the physical properties arising from indirect magnetic exchange between several magnetic adatoms and between complex magnetic nanostructures on metallic surfaces, the real-space extension of dynamical mean-field theory (R-DMFT) appears attractive as it can be applied to systems of almost arbitrary geometry and complexity. While R-DMFT describes the Kondo effect of a single adatom exactly, indirect magnetic (RKKY) exchange is taken into account on an approximate level only. Here, we consider a simplified model system consisting of two magnetic Hubbard sites ("adatoms") hybridizing with a non-interacting tight-binding chain ("substrate surface"). This two-impurity Anderson model incorporates the competition between the Kondo effect and indirect exchange but is amenable to an exact numerical solution via the density-matrix renormalization group (DMRG). The particle-hole symmetric model at half-filling and zero temperature is used to benchmark R-DMFT results for the magnetic coupling between the two adatoms and for the magnetic properties induced in the substrate. In particular, the dependence of the local adatom and the nonlocal adatom-adatom static susceptibilities as well as the magnetic response of the substrate on the distance between the adatoms and on the strength of their coupling with the substrate is studied. We find both, excellent agreement with the DMRG data even on subtle details of the competition between RKKY exchange and the Kondo effect but also complete failure of the R-DMFT, depending on the parameter regime considered. R-DMFT calculations are performed using the Lanczos method as impurity solver. With the real-space extension of the two-site DMFT, we also benchmark a simplified R-DMFT variant.Comment: 14 pages, 8 figure

Nonequilibrium effects due to charge fluctuations in intrinsic Josephson systems

Nonequilibrium effects in layered superconductors forming a stack of intrinsic Josephson junctions are investigated. We discuss two basic nonequilibrium effects caused by charge fluctuations on the superconducting layers: a) the shift of the chemical potential of the condensate and b) charge imbalance of quasi-particles, and study their influence on IV-curves and the position of Shapiro steps.Comment: 17 pages, 2 figures, revised version slightly shortene

Xtru3D: Single-View 3D Object Reconstruction from Color and Depth Data

D object reconstruction from single image has been a noticeable research trend in recent years. The most common method is to rely on symmetries of real-life objects, but these are hard to compute in practice. However, a large class of everyday objects, especially when manufactured, can be generated by extruding a 2D shape through an extrusion axis. This paper proposes to exploit this property to acquire 3D object models using a single RGB+Depth image, such as those provided by available low-cost range cameras. It estimates the hidden parts by exploiting the geometrical properties of everyday objects, and both depth and color information are combined to refine the model of the object of interest. Experimental results on a set of 12 common objects are shown to demonstrate not only the effectiveness and simplicity of our approach, but also its applicability for tasks such as robotic grasping.The research leading to these results has been funded by the HANDLE European project (FP7/2007-2013) under grant agreement ICT 231640-http://www.handle-project.eu.Publicad

What parents think about giving nonnutritive sweeteners to their children: A pilot study

Objective. To evaluate parental attitudes toward providing foods and beverages with nonnutritive sweeteners (NNS) to their children and to explore parental ability to recognize NNS in packaged foods and beverages. Methods. 120 parents of children ≥ 1 and ≤18 years of age completed brief questionnaires upon entering or exiting a grocery store. Parental attitudes toward NNS were assessed using an interviewer-assisted survey. Parental selection of packaged food and beverages (with and without NNS) was evaluated during a shopping simulation activity. Parental ability to identify products with NNS was tested with a NNS recognition test. Results. Most parents (72%) disagreed with the statement “NNS are safe for my child to consume.” This was not reflected during the shopping simulation activity because about one-quarter of items selected by parents contained NNS. Parents correctly identified only 23% of NNS-containing items presented as foods or beverages which were sweetened with NNS. Conclusions. The negative parental attitudes toward providing NNS to their children raise the question whether parents are willing to replace added sugars with NNS in an effort to reduce their child’s calorie intake. Our findings also suggest that food labeling should be revised in order for consumers to more easily identify NNS in foods and beverages