1,511 research outputs found

    Error analysis of truncated expansion solutions to high-dimensional parabolic PDEs

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    We study an expansion method for high-dimensional parabolic PDEs which constructs accurate approximate solutions by decomposition into solutions to lower-dimensional PDEs, and which is particularly effective if there are a low number of dominant principal components. The focus of the present article is the derivation of sharp error bounds for the constant coefficient case and a first and second order approximation. We give a precise characterisation when these bounds hold for (non-smooth) option pricing applications and provide numerical results demonstrating that the practically observed convergence speed is in agreement with the theoretical predictions

    Finally a Smoking Gun

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    Essays on skills, wages, and inequality in Germany

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    Income inequality has increase in almost all OECD countries over the last three decades (OECD 2014) and that increase is mostly driven by increasing inequality in labor incomes (Piketty and Saez 2014). In my dissertation “Essays on Skills, Wages, and Inequality in Germany” I study various aspects related to the question of what drives inequality in labor incomes. In my first chapter (“The State of the German Labor Market”), I use some of the best data available to provide an evidence-based, up-to-date description of recent wage structure and employment trends in Germany. In my second chapter (“Skill Premiums and the Supply of Young Workers” joint with Albrecht Glitz) I ask whether changes in the supply of skills, i.e. for instance the number of college graduates or workers with vocational training, can help to explain wage inequality, in particular at the lower end of the distribution. My third chapter (“Compensating Differentials and the Introduction of Smoking Bans”) starts from the idea that up to 15% of wage inequality might be due to compensating differentials (Sorkin 2016), i.e. the extra pay associated with jobs that are more dangerous or unpleasant than others. This argument, however, relies on indirect evidence while direct evidence for such compensating differentials has been largely missing. I fill this gap by exploiting the introduction of smoking bans in Germany looking at wages of waiters in the hospitality industry as a natural experiment to provide quasi-experimental evidence for compensating differentials in the labor market

    Investigating the epidemiology of trypanosomiasis in domestic livestock at the micro-scale in Busia, Kenya

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    Trypanosomiasis in Kenya is no longer viewed as a public health issue, as only sporadic sleeping sickness cases are reported from historic foci such as Busia. Trypanosomiasis is thus mainly perceived as a constraint on livestock production. The responsibility for tsetse and trypanosomiasis control in Kenya has therefore increasingly shifted from the state to individual livestock owners; this drastically reduced the scale of control approaches. This thesis examines the epidemiology of both animal infective and zoonotic trypanosome species in a range of domestic livestock at the micro-scale, in Busia, Kenya. The work is based on a unique crosssectional census data set of the entire livestock population in two study sites in Busia, employing sensitive molecular tools (PCR) to detect trypanosome infections.Cattle were the largest reservoir of trypanosomes with an infection prevalence of 20.1%, followed by pigs (11.5%). A low prevalence of infection was detected in small ruminants (3.3%). Human infective trypanosomes (71 b. rhodesiense) were detected at a low prevalence in cattle (1.5%) and pigs (2.9%). Key clinical signs for trypanosomiasis infection (anaemia & poor body condition) were only observed in a minority of infected cattle (<20%). Confinement of livestock to the homesteads, instead of grazing in communal grounds and watering at the river did not provide protection from trypanosome infections. An investigation of the micro-geographic variation in the distribution of trypanosome infections over the study population, revealed significant clustering in one of the two study sites. However, there was no significant effect of distance to water features on trypanosomiasis risk at the herd level. A convenience sampling protocol was shown to give a good estimate of overall trypanosomiasis in cattle, but failed to detect the low prevalence of T. b. rhodesiense.The sustainability of small-scale trypanosomiasis control based on trypanocide treatment of visibly diseased cattle is appraised and the feasibility of additional vector control is discussed. Furthermore, the potential human health implications of a livestock reservoir of T. b. rhodesiense to the local population are examined
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