On the Stability and Equilibrium Points of Multistaged SI (n) R Epidemic Models

This paper relies on the concept of next generation matrix defined ad hoc for a new proposed extended SEIR model referred to as SI(n)R-model to study its stability. The model includes n successive stages of infectious subpopulations, each one acting at the exposed subpopulation of the next infectious stage in a cascade global disposal where each infectious population acts as the exposed subpopulation of the next infectious stage. The model also has internal delays which characterize the time intervals of the coupling of the susceptible dynamics with the infectious populations of the various cascade infectious stages. Since the susceptible subpopulation is common, and then unique, to all the infectious stages, its coupled dynamic action on each of those stages is modeled with an increasing delay as the infectious stage index increases from 1 to n. The physical interpretation of the model is that the dynamics of the disease exhibits different stages in which the infectivity and the mortality rates vary as the individual numbers go through the process of recovery, each stage with a characteristic average time.

Influences of change strategies to achieve organizational flexibility: a system dynamics approach.

257 p.

Endogenous fisheries management in a stochastic model: Why do fishery agencies use TAC

The aim of this paper is to explain under which circumstances using TACs as instrument to manage a fishery along with fishing periods may be interesting from a regulatory point of view. In order to do this, the deterministic analysis of Homans and Wilen (1997)and Anderson (2000) is extended to a stochastic scenario where the resource cannot be measured accurately. The resulting endogenous stochastic model is numerically solved for finding the optimal control rules in the Iberian sardine stock. Three relevant conclusions can be highligted from simulations. First, the higher the uncertainty about the state of the stock is, the lower the probability of closing the fishery is. Second, the use of TACs as management instrument in fisheries already regulated with fishing periods leads to: i) An increase of the optimal season length and harvests, especially for medium and high number of licences, ii) An improvement of the biological and economic variables when the size of the fleet is large; and iii) Eliminate the extinction risk for the resource. And third, the regulator would rather select the number of licences and do not restrict the season length.

A factor model of seasonality in stock returns

Published as an article in: The Quarterly Review of Economics and Finance, 2004, vol. 44, issue 2, pages 224-236.

The Effect of Data Revisions on the Basic New Keynesian Model

This paper proposes an extended version of the basic New Keynesian monetary (NKM) model which contemplates revision processes of output and inflation data in order to assess the importance of data revisions on the estimated monetary policy rule parameters and the transmission of policy shocks. Our empirical evidence based on a structural econometric approach suggests that although the initial announcements of output and inflation are not rational forecasts of revised output and inflation data, ignoring the presence of non well-behaved revision processes may not be a serious drawback in the analysis of monetary policy in this framework. However, the transmission of inflation-push shocks is largely affected by considering data revisions. The latter being especially true when the nominal stickiness parameter is estimated taking into account data revision processes.

Optimal Taxation and Indeterminacy in the Uzawa-Lucas Model with Sector-specific Externalities

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