Between the Visionary and the Archaic: Iannis Xenakis's Cosmic City

Almost parallel with his groundbreaking theoretical work Musiques formelles (Xenakis, 1963), the late composer and architect Iannis Xenakis (1922-2001) published “The Cosmic City” (Xenakis, 1965). In this urban proposal, 5 million inhabitants are housed in a single megastructure, a hyperbolic paraboloid of more than 3000 meters high and 50 meters wide. This form is inspired by Xenakis’s concept of “volumetric architecture”, as exemplified in the famous Philips Pavilion in 1958. Totally independent from climatic conditions and topography, the Cosmic City includes homes, places of work, schools and other facilities, while the distribution of the population in the urban fabric is organized according to the same statistical laws and stochastic principles that form the basis of Xenakis’s musical composition. Apart from situating the Cosmic City in Xenakis’s oeuvre, this paper will offer a critical reading and an investigation of its reception in the writings of Françoise Choay and Louis Marin. Both authors have conceptualised the notion of utopia and discussed Xenakis’s project in that context. For Choay, speaking from an anthropologic viewpoint, the Cosmic City is not only a perfect example of “Technotopia”, i.e., a sort of “reduced” utopia (Choay, 1965), but also, despite its visionary intentions, archaic and even irrelevant today (Choay, 2000). However, Marin places Xenakis’s project in a long literary and semiotic tradition. For him, the Cosmic City is a projection of More’s utopia of the New World into the Space Age (Marin, 1973). This paper considers the Cosmic City as a case study of avant-garde urbanism in France in the 1960s, and discusses the opposite appreciation by Choay and Marin as exemplary of its ambiguous reception.status: publishe

Linguistic Interventions and Transformative Communicative Disruption

What words we use, and what meanings they have, is important. We shouldn't use slurs; we should use 'rape' to include spousal rape (for centuries we didn’t); we should have a word which picks out the sexual harassment suffered by people in the workplace and elsewhere (for centuries we didn’t). Sometimes we need to change the word-meaning pairs in circulation, either by getting rid of the pair completely (slurs), changing the meaning (as we did with 'rape'), or adding brand new word-meaning pairs (as with 'sexual harassment'). A problem, though, is how to do this. One might worry that any attempt to change language in this way will lead to widespread miscommunication and confusion. I argue that this is indeed so, but that's a feature, not a bug of attempting to change word-meaning pairs. The miscommunications and confusion such changes cause can lead us, via a process I call transformative communicative disruption, to reflect on our language and its use, and this can be further, rather than hinder, our goal of improving language

The Role of the IFO Business Climate Indicator and Asset Prices in German Monetary Policy

We analyze the role of forward-looking indicators, like the IFO business climate indicator and asset prices, in German monetary transmission. We show that the use of both the IFO indicator and asset prices improves the performance and interpretation of a Vector AutoRegression (VAR) model of German monetary transmission. First, we show that the Bundesbank responded more intensively to changes in the IFO indicator than to changes in GDP. Secondly, we address the role of housing and equity prices. We demonstrate that especially housing prices help to give a more accurate description of the recent history of German monetary policy.monetary transmission, IFO business climate survey indicator, house prices, equity prices

Capital market imperfections, uncertainty and corporate investment in the Czech Republic

The well-known Klein-Monti model of bank behavior considers a monopolistic bank. We demonstrate that this model’s results on the comparative static effects of a change in the exogenous interbank market interest rate do not necessarily hold in oligopolistic Cournot or Stackelberg generalizations. Introducing asymmetries in the cost functions of the banks, or in their way of conduct, may imply counterintuitive effects on the individual banks’ volumes of loans and deposits. Keywords: Bank behavior, Cournot oligopoly, Stackelberg oligopoly

Monetary stability and financial development in Sub-Saharan countries

Abstract We analyze the interrelation between monetary stability and financial structure in 20 Sub-Saharan economies. Using a panel data set we estimate the impact of monetary stability and financial development on income per capita. Special interest is given to the conditions of the so-called CFA-countries, that have a fixed exchange rate vis-à-vis the French Franc. Is the impact of the financial system development in these countries bigger than in non-CFA countries? We measure monetary uncertainty using an auxiliary (G)ARCH model of monthly inflation. For financial development we take both the role of M2 as credit to the private sector into account. Our sample covers the years 1970-1997. We estimate growth regressions in three different forms: cross-section, interval, and a pooled model. We do find that inflationary uncertainty is relevant for growth of GDP per capita. Financial development is relevant in the low data-frequency models. The differences between CFA and non-CFA countries become apparent in the interval and pooled models. CFA-countries seem to rely more on credit in the interval model. Moreover, in the years 1985-1993 non-CFA countries seemed to suffer more from inflationary uncertainty.

Olympic participation and performance since 1896

We analyze the decision to participate and performance at the Modern Olympic Summer Games at the country level. We use an unbalanced panel of 118 countries over all 24 editions of the Summer Games since 1896. The main focus of the paper is on economic, geographic and demographic determinants of Olympic participation and success. We estimate the impact of income per capita, population size, home advantage, and some fixed country factors on participation and success rates. We present separate results for events before and after the Second World War. These results indicate that income is an important determinant of Olympic participation and success. Socialist countries send more athletes to the games and have more success in medal counts. The home advantage has become less prominent.

Olympic participation and performance since 1896

Abstract We analyze the decision to participate and Olympic performance at the country level. We use an unbalanced panel of 118 countries over 24 editions of the Olympic Summer Games. The main focus of the paper is on economic, geographic and demographic explanations of Olympic participation and success. We estimate the impact of income per capita, population size, home advantage, and institutional variables on participation and success rates. We present separate results for events before the Second World War and after. These results show that income is an important determinant of Olympic participation and success. Socialist countries send more athletes to the games and have more success in medal counts. The home advantage has become less prominent.

Do firms wait to invest? : an empirical investigation

The paper tests a standard real options model of investment using a data set of listed Dutch manufacturing firms over the period of 1984-1997. The threshold value that triggers investment is based on the historical distribution of the profit process and the risk-adjusted discount rate of the firm. The system Generalized Method of Moments (GMM) estimates show that Dutch firms are on average concerned with the option values of investment opportunities. We explore the arguments why firms would be confronted with higher investment hurdles.

Asymmetric information, option to wait to invest and the optimal level of investment

This paper analyzes equilibrium rationing on credit markets in the case of gains from waiting to acquire information about the future profitability of investment. We compare the competitive outcome with the socially optimal level of investment. We show that the opportunity to postpone investment changes the nature of the inefficiencies of the competitive outcome fundamentally. Without the option to wait, high risk firms tend to invest and the outcome is characterized by a situation of underinvestment. If firms can wait high risk firms benefit the most from waiting. In this case low risk firms tend to invest immediately and a situation of overinvestment will result, since from the banks' point of view firms do not delay enough.