Essays on macroeconomic effects of fiscal policy rules

Economic and Monetary Union can be characterised as a complicated set of legislation and institutions governing monetary and fiscal responsibilities. The measures of fiscal responsibility are to be guided by the Stability and Growth Pact, which sets rules for fiscal policy and makes a discretionary fiscal policy virtually impossible. To analyse the effects of the fiscal and monetary policy mix, we modified the New Keynesian framework to allow for supply effects of fiscal policy. We show that defining a supply-side channel for fiscal policy using an endogenous output gap changes the stabilising properties of monetary policy rules. The stability conditions are affected by fiscal policy, so that the dichotomy between active (passive) monetary policy and passive (active) fiscal policy as stabilising regimes does not hold, and it is possible to have an active monetary - active fiscal policy regime consistent with dynamical stability of the economy. We show that, if we take supply-side effects into ac-count, we get more persistent inflation and output reactions. We also show that the dichotomy does not hold for a variety of different fiscal policy rules based on government debt and budget deficit, using the tax smoothing hypothesis and formulating the tax rules as difference equations. The debt rule with active monetary policy results in indeterminacy, while the deficit rule produces a determinate solution with active monetary policy, even with active fiscal policy. The combination of fiscal requirements in a rule results in cyclical responses to shocks. The amplitude of the cycle is larger with more weight on debt than on deficit. Combining optimised monetary policy with fiscal policy rules means that, under a discretionary monetary policy, the fiscal policy regime affects the size of the inflation bias. We also show that commitment to an optimal monetary policy not only corrects the inflation bias but also increases the persistence of output reactions. With fiscal policy rules based on the deficit we can retain the tax smoothing hypothesis also in a sticky price model.

Displaying and celebrating the "other": A study of the mission, scope, and roles of ethnic museums in Los Angeles

In the last thirty years, ethnic museums have mushroomed in American cities. Although this is certainly a national phenomenon, it has been particularly evident in Los Angeles. In this paper we examine the genesis and evolution of these emerging institutions. We survey the mission, scope, and role of ethnic museums in Los Angeles, and we contrast them with the stated mission and scope of “mainstream” museums in the city. We further present case studies of three Los Angeles ethnic museums. The museums vary considerably in the ways they perceive their role in the community, the city, and the nation and in the preservation and display of ethnic culture. At their best, ethnic museums serve to make new art and histories more accessible and visible and provide a forum in which to debate contemporary issues of politics and identity. The paper highlights some of the tensions faced by ethnic museums as they seek to define their audience and role(s) in multi-ethnic, twenty-first century Los Angeles.

Illuminating the glass box: The lighting designs of Richard Kelly

A promotional brochure celebrating the completion of the Seagram Building in spring 1957 features on its cover intense portraits of seven men bisected by a single line of bold text that asks, “Who are these Men?” The answer appears on the next page: “They Dreamed of a Tower of Light” (Figures 1, 2). Each photograph is reproduced with the respective man’s name and project credit: architects, Mies van der Rohe and Philip Johnson; associate architect, Eli Jacques Kahn; electrical contractor, Harry F. Fischbach; lighting consultant, Richard Kelly; and electrical engineer, Clifton E. Smith. To the right, a rendering of the new Seagram Tower anchors the composition, standing luminous against a star-speckled night sky; its glass walls and bronze mullions are transformed into a gossamer skin that reveals the tower’s structural skeleton. Lightolier, the contract lighting manufacturer, produced the brochure to promote its role in the lighting of the Seagram Building, but Lightolier’s promotional copy was not far from the truth.

Book Review: "The Interface: IBM and the Transformation of Corporate Design, 1945-1975", John Harwood, Minneapolis: University of Minnesota Press, 2011

Within the history of twentieth-century design, there are a number of well-known objects and stories that are invoked time and time again to capture a pivotal moment or summarize a much broader historical transition. For example, Marcel Breuer’s Model B3 chair is frequently used as a stand-in for the radical investigations of form and new industrial materials occurring at the Bauhaus in the mid-1920s. Similarly, Raymond Loewy’s streamlined pencil sharpener has become historical shorthand for the emergence of modern industrial design in the 1930s. And any discussion of the development of American postwar “organic design” seems incomplete without reference to Charles and Ray Eames’s molded plywood leg splint of 1942. Such objects and narratives are dear to historians of modern design. They are tangible, photogenic subjects that slot nicely into exhibitions, historical surveys, and coffee-table best sellers...

Achieving the D-MG and DMD Tradeoffs of MIMO fading channels

An overview of our recent results relating to the explicit construction of space-time block codes achieving the DMG tradeoff of the quasi-static fading channel is presented. The results include the explicit construction of D-MG optimal codes,generalization of perfect codes to any number of transmit antennas as well as optimal diversity-multiplexing-delay constructions for the MIMO ARQ Channel.

Materials, Processing, and Testing of Flexible Image Sensor Arrays

Editors' note:Flexible, large-area display and sensor arrays are finding growing applications in multimedia and future smart homes. This article first analyzes and compares current flexible devices, then discusses the implementation, requirements, and testing of flexible sensor arrays.—Jiun-Lang Huang (National Taiwan University) and Kwang-Ting (Tim) Cheng (University of California, Santa Barbara)

Comments on the Friends of the Sea Otter critique of the State of California sea otter proposal

Written in response to "A proposal for sea otter protection and research and request for the return of management to the State of California" report published by the California Department of Fish and Game in 1976. (52 page document)

A proposal for sea otter protection and research and request for the return of management to the State of California

v.1 - Text and Summaries (272 page document)

Review of California halibut trawl fishery in the California halibut trawl grounds

(Document pdf contains 44 pages)