Three essays on short-term macroeconomics : business fluctuations, large devaluations and inflation dynamics

Résumé: At least since the Great Depression, explaining why there are business fluctuations has been one of the biggest challenges that the science of economics has had to face. The hope is that if we could better understand recessions, then we could also be more successful in overcoming them. This dissertation consists of three papers that are part of the general endeavor of economists to understand these fluctuations. The first paper discusses, for a particular model, whether a result related to fluctuations would still hold if time were modeled as continuous rather than discrete. The two other papers focus on price stickiness. The second paper discusses why, after a large devaluation, prices of non-tradables may change by only a small amount in comparison to the magnitude of the devaluation. The third paper examines price adjustment in a model in which information is imperfect and it is costly to change prices.

Experimental insights into deformation dynamics and intermittency in rapid granular shear flows

This work concerns the experimental study of rapid granular shear flows in annular Couette geometry. The flow is induced by continuous driving of the horizontal plate at the top of the granular bed in an annulus. The compressive pressure, driving torque, instantaneous bed height and rotational speed of the shearing plate are measured. Moreover, local stress fluctuations are measured in a medium made of steel spheres 2 and 3 mm in diameter. Both monodisperse packing and bidisperse packing are investigated to reveal the influence of size diversity in intermittent features of granular materials. Experiments are conducted in an annulus that can contain up to 15 kg of spherical steel balls. The shearing granular medium takes place via the rotation of the upper plate which compresses the material loaded inside the annulus. Fluctuations of compressive force are locally measured at the bottom of the annulus using a piezoelectric sensor. Rapid shear flow experiments are pursued at different compressive forces and shear rates and the sensitivity of fluctuations are then investigated by different means through monodisperse and bidisperse packings. Another important feature of rapid granular shear flows is the formation of ordered structures upon shearing. It requires a certain range for the amount of granular material (uniform size distribution) loaded in the system in order to obtain stable flows. This is studied more deeply in this thesis. The results of the current work bring some new insights into deformation dynamics and intermittency in rapid granular shear flows. The experimental apparatus is modified in comparison to earlier investigations. The measurements produce data for various quantities continuously sampled from the start of shearing to the end. Static failure and dynamic shearing ofa granular medium is investigated. The results of this work revealed some important features of failure dynamics and structure formation in the system. Furthermore, some computer simulations are performed in a 2D annulus to examine the nature of kinetic energy dissipation. It is found that turbulent flow models can statistically represent rapid granular flows with high accuracy. In addition to academic outcomes and scientific publications our results have a number of technological applications associated with grinding, mining and massive grain storages.

Dynamics of Appropriability - Finding a Balance between Efficiency and Strength in the Appropriability Regime

Building and sustaining competitive advantage through the creation of market imperfections is challenging in a constantly changing business environment - particularly since the sources of such advantages are increasingly knowledge-based. Facilitated by improved networks and communication, knowledge spills over to competitors more easily than before,thus creating an appropriability problem: the inability of an innovating firm to utilize its innovations commercially. Consequently, as the importance of intellectual assets increases, their protection also calls for new approaches. Companies have various means of protection at their disposal, and by taking advantage of them they can make intangibles more non-transferable and prevent, or at leastdelay, imitation of their most crucial intellectual assets. However, creating barriers against imitation has another side to it, and the transfer of knowledge in situations requiring knowledge sharing may be unintentionally obstructed. Theaim of this thesis is to increase understanding of how firms can balance knowledge protection and sharing so as to benefit most from their knowledge assets. Thus, knowledge protection is approached through an examination of the appropriability regime of a firm, i.e., the combination of available and effective means ofprotecting innovations, their profitability, and the increased rents due to R&D. A further aim is to provide a broader understanding of the formation and structure of the appropriability regime. The study consists of two parts. The first part introduces the research topic and the overall results of the study, and the second part consists of six complementary research publications covering various appropriability issues. The thesis contributes to the existing literature in several ways. Although there is a wide range of prior research on appropriability issues, a lot of it is restricted either to the study of individual appropriability mechanisms, or to comparing certain features of them. These approaches are combined, and the relevant theoretical concepts are clarified and developed. In addition, the thesis provides empirical evidence of the formation of the appropriability regime, which is consequently presented as an adaptive process. Thus, a framework is provided that better corresponds to the complex reality of the current business environment.

On the origin of the inertia: the modified Newtonian dynamics theory

The sameness between the inertial mass and the gravitational mass is an assumption and not a consequence of the equivalent principle is shown. In the context of the Sciama’s inertia theory, the sameness between the inertial mass and the gravitational mass is discussed and a certain condition which must be experimentally satisfied is given. The inertial force proposed by Sciama, in a simple case, is derived from the Assis’ inertia theory based in the introduction of a Weber type force. The origin of the inertial force is totally justified taking into account that the Weber force is, in fact, an approximation of a simple retarded potential, see [18, 19]. The way how the inertial forces are also derived from some solutions of the general relativistic equations is presented. We wonder if the theory of inertia of Assis is included in the framework of the General Relativity. In the context of the inertia developed in the present paper we establish the relation between the constant acceleration a0 , that appears in the classical Modified Newtonian Dynamics (M0ND) theory, with the Hubble constant H0 , i.e. a0 ≈ cH0 .

Ehrenfest dynamics is purity non-preserving: a necessary ingredient for decoherence

We discuss the evolution of purity in mixed quantum/classical approaches to electronic nonadiabatic dynamics in the context of the Ehrenfest model. As it is impossible to exactly determine initial conditions for a realistic system, we choose to work in the statistical Ehrenfest formalism that we introduced in Alonso et al. [J. Phys. A: Math. Theor. 44, 396004 (2011)10.1088/1751-8113/44/39/395004]. From it, we develop a new framework to determine exactly the change in the purity of the quantum subsystem along with the evolution of a statistical Ehrenfest system. In a simple case, we verify how and to which extent Ehrenfest statistical dynamics makes a system with more than one classical trajectory, and an initial quantum pure state become a quantum mixed one. We prove this numerically showing how the evolution of purity depends on time, on the dimension of the quantum state space D, and on the number of classical trajectories N of the initial distribution. The results in this work open new perspectives for studying decoherence with Ehrenfest dynamics.

Using Pareto optimality to explore the topology and dynamics of the human connectome.

Graph theory has provided a key mathematical framework to analyse the architecture of human brain networks. This architecture embodies an inherently complex relationship between connection topology, the spatial arrangement of network elements, and the resulting network cost and functional performance. An exploration of these interacting factors and driving forces may reveal salient network features that are critically important for shaping and constraining the brain's topological organization and its evolvability. Several studies have pointed to an economic balance between network cost and network efficiency with networks organized in an 'economical' small-world favouring high communication efficiency at a low wiring cost. In this study, we define and explore a network morphospace in order to characterize different aspects of communication efficiency in human brain networks. Using a multi-objective evolutionary approach that approximates a Pareto-optimal set within the morphospace, we investigate the capacity of anatomical brain networks to evolve towards topologies that exhibit optimal information processing features while preserving network cost. This approach allows us to investigate network topologies that emerge under specific selection pressures, thus providing some insight into the selectional forces that may have shaped the network architecture of existing human brains.

Immigrant Families and the School in Spain: Dynamics and Factors that Influence their Relations

In Spain, academic debate and school administrations have evolved to the extent that relations between the school, the family and the surrounding environment are now considered as crucial to student achievement at school and to the good functioning of the educational system as a whole. Despite this development, change is slow in practice and often complicated due to the emerging resistance of families and schools, given that they have always maintained relations marked by an imbalance of power. Our theoretical and especially our empirical work has focused on the relations between immigrant families and the school system in Spain. In view of the above, the creation of what we call positive relational dynamics and communication in schools is conditioned by the attitudes and behaviour of the school administration, professionals and families. However, the physical space in which these relations take place must also be taken into consideration. Regarding school organisation, we have emphasised the role of the school’s administration. By differentiating the range of management models, we note the ones that facilitate more relations and communication with and among families (especially the one we have called the horizontal participative model) and those that discourage them. However, the multiple and complex range of attitudes among teachers and families must always be taken into account.

Brain dynamics of meal size selection in humans.

Although neuroimaging research has evidenced specific responses to visual food stimuli based on their nutritional quality (e.g., energy density, fat content), brain processes underlying portion size selection remain largely unexplored. We identified spatio-temporal brain dynamics in response to meal images varying in portion size during a task of ideal portion selection for prospective lunch intake and expected satiety. Brain responses to meal portions judged by the participants as 'too small', 'ideal' and 'too big' were measured by means of electro-encephalographic (EEG) recordings in 21 normal-weight women. During an early stage of meal viewing (105-145ms), data showed an incremental increase of the head-surface global electric field strength (quantified via global field power; GFP) as portion judgments ranged from 'too small' to 'too big'. Estimations of neural source activity revealed that brain regions underlying this effect were located in the insula, middle frontal gyrus and middle temporal gyrus, and are similar to those reported in previous studies investigating responses to changes in food nutritional content. In contrast, during a later stage (230-270ms), GFP was maximal for the 'ideal' relative to the 'non-ideal' portion sizes. Greater neural source activity to 'ideal' vs. 'non-ideal' portion sizes was observed in the inferior parietal lobule, superior temporal gyrus and mid-posterior cingulate gyrus. Collectively, our results provide evidence that several brain regions involved in attention and adaptive behavior track 'ideal' meal portion sizes as early as 230ms during visual encounter. That is, responses do not show an increase paralleling the amount of food viewed (and, in extension, the amount of reward), but are shaped by regulatory mechanisms.

Fast Blue and Diamidino Yellow as retrograde tracers in peripheral nerves: efficacy of combined nerve injection and capsule application to transected nerves in the adult rat

Capsule application of Diamidino Yellow (DY) to the cut end of the sciatic nerve immediately followed by capsule application of Fast Blue (FB) resulted in approximate to 95% double-labelled dorsal root ganglion neurones (DRGn) and motoneurones (Mn). Nerve injection of DY followed either immediately or 2 months later by capsule application of FB resulted in approximate to 90% double-labelled DRGn and Mn, indicating that DY and FB label similar populations of DRGn and Mn, and that insignificant DY fading occurred during this period. Inversing the order of application, however, i.e. nerve injection of FB followed immediately by capsule application of DY, resulted in double labelling in only approximate to 10% of the DRGn and Mn. These percentages increased to 70% of the DRGn and 60% of the Mn when the FB injection was followed 1 or 2 months after by the DY application, indicating that DY uptake is blocked by recent administration of FB. The results indicate that DY and FB might be useful for sequential labelling before and after nerve injury as a tool to investigate the accuracy of sensory and motor regeneration.

The Dynamics of Force Fluctuations in Shear Granular Flows

Tämän työn tavoitteena oli tutkia rakeisen materiaalin kinematiikkaa ja rakentaa koelaitteisto rakeisen materiaalin leikkausjännitysvirtauksien tutkimiseen. Kokeellisessa osassa on keskitytty sisäisiin voimaheilahteluihin ja niiden ymmärtämiseen. Teoriaosassa on käyty läpi rakeisen materiaalin yleisiä ominaisuuksia ja lisäksi on esitetty kaksi eri tapaa mallintaa fysikaalisien ominaisuuksien heilahteluja rakeisessa materiaalissa. Nämä kaksi esitettyä mallinnusmenetelmää ovat skalaarinen q-malli ja simulointi. Skalaarinen q-malli määrittelee jokaiseen yksittäiseen rakeeseen kohdistuvan jännityksen, rakeen ollessa osa 2- tai 3-dimensionaalista asetelmaa. Tämän mallin perusidea on kuvata jännityksien epähomogeenisuutta, joka johtuu rakeiden satunnaisasettelusta. Simulointimallinnus perustuu event-driven algoritmiin, missä systeemin dynamiikkaa kuvataan yksittäisillä partikkelien törmäyksillä. Törmäyksien vaiheet ratkaistiin käyttämällä liikemääräyhtälöitä ja restituution määritelmää. Teoriaosuudessa käytiin vielä pieniltä osin läpi syitä jännitysheilahteluihin ja rakeisen materiaalin lukkiintumiseen. Tutkimuslaitteistolla tutkittiin rakeisen materiaalin käyttäytymistä rengasmaisessa leikkausjännitysvirtauksessa. Tutkimusosuuden päätavoitteena oli mitata partikkelien kosketuksista ja törmäyksistä johtuvia hetkellisiä voimaheilahteluja rengastilavuuden pohjalta. Rakeisena materiaalina tutkimuksessa käytettiin teräskuulia. Jännityssignaali ajan funktiona osoittaa suurta heilahtelua, joka voi olla jopa kertalukua keskiarvosta suurempaa. Tällainen suuren amplitudin omaava heilahtelu on merkittävä haittapuoli yleisesti rakeisissa materiaaleissa käytettyjen jatkuvuusmallien kanssa. Tällainen heilahtelu tekee käytetyt jatkuvuusmallit epäpäteviksi. Yleisellä tasolla jännityksien todennäköisyysjakauma on yhtäpitävä skalaarisen q-mallin tuloksien kanssa. Molemmissa tapauksissa todennäköisyysjakaumalla on eksponentiaalinen muoto.

Impact of open-ocean convection on particle fluxes and sediment dynamics in the deep margin of the Gulf of Lions.

Abstract. The deep outer margin of the Gulf of Lions and the adjacent basin, in the western Mediterranean Sea, are regularly impacted by open-ocean convection, a major hydrodynamic event responsible for the ventilation of the deep water in the western Mediterranean Basin. However, the impact of open-ocean convection on the flux and transport of particulate matter remains poorly understood. The variability of water mass properties (i.e., temperature and salinity), currents, and particle fluxes were monitored between September 2007 and April 2009 at five instrumented mooring lines deployed between 2050 and 2350-m depth in the deepest continental margin and adjacent basin. Four of the lines followed a NW-SE transect, while the fifth one was located on a sediment wave field to the west. The results of the main, central line SC2350 ("LION") located at 42 02.50 N, 4 410 E, at 2350-m depth, show that open-ocean convection reached midwater depth ( 1000-m depth) during winter 2007-2008, and reached the seabed ( 2350-m depth) during winter 2008-2009. Horizontal currents were unusually strong with speeds up to 39 cm s−1 during winter 2008-2009. The measurements at all 5 different locations indicate that mid-depth and near-bottom currents and particle fluxes gave relatively consistent values of similar magnitude across the study area except during winter 2008-2009, when near-bottom fluxes abruptly increased by one to two orders of magnitude. Particulate organic carbon contents, which generally vary between 3 and 5 %, were abnormally low ( 1 %) during winter 2008-2009 and approached those observed in surface sediments (0.6 %). Turbidity profiles made in the region demonstrated the existence of a bottom nepheloid layer, several hundred meters thick, and related to the resuspension of bottom sediments. These observations support the view that open-ocean deep convection events in the Gulf of Lions can cause significant remobilization of sediments in the deep outer margin and the basin, with a subsequent alteration of the seabed likely impacting the functioning of the deep-sea ecosystem.

Analysis of flow dynamics in right ventricular outflow tract.

BACKGROUND: The mechanism behind early graft failure after right ventricular outflow tract (RVOT) reconstruction is not fully understood. Our aim was to establish a three-dimensional computational fluid dynamics (CFD) model of RVOT to investigate the hemodynamic conditions that may trigger the development of intimal hyperplasia and arteriosclerosis. METHODS: Pressure, flow, and diameter at the RVOT, pulmonary artery (PA), bifurcation of the PA, and left and right PAs were measured in 10 normal pigs with a mean weight of 24.8 ± 0.78 kg. Data obtained from the experimental scenario were used for CFD simulation of pressure, flow, and shear stress profile from the RVOT to the left and right PAs. RESULTS: Using experimental data, a CFD model was obtained for 2.0 and 2.5-L/min pulsatile inflow profiles. In both velocity profiles, time and space averaged in the low-shear stress profile range from 0-6.0 Pa at the pulmonary trunk, its bifurcation, and at the openings of both PAs. These low-shear stress areas were accompanied to high-pressure regions 14.0-20.0 mm Hg (1866.2-2666 Pa). Flow analysis revealed a turbulent flow at the PA bifurcation and ostia of both PAs. CONCLUSIONS: Identified local low-shear stress, high pressure, and turbulent flow correspond to a well-defined trigger pattern for the development of intimal hyperplasia and arteriosclerosis. As such, this real-time three-dimensional CFD model may in the future serve as a tool for the planning of RVOT reconstruction, its analysis, and prediction of outcome.

From caging to rouse dynamics in polymer melts with intramolecular barriers: a critical test of the mode coupling theory

By means of computer simulations and solution of the equations of the mode coupling theory (MCT),we investigate the role of the intramolecular barriers on several dynamic aspects of nonentangled polymers. The investigated dynamic range extends from the caging regime characteristic of glass-formers to the relaxation of the chain Rouse modes. We review our recent work on this question,provide new results, and critically discuss the limitations of the theory. Solutions of the MCT for the structural relaxation reproduce qualitative trends of simulations for weak and moderate barriers. However, a progressive discrepancy is revealed as the limit of stiff chains is approached. This dis-agreement does not seem related with dynamic heterogeneities, which indeed are not enhanced by increasing barrier strength. It is not connected either with the breakdown of the convolution approximation for three-point static correlations, which retains its validity for stiff chains. These findings suggest the need of an improvement of the MCT equations for polymer melts. Concerning the relaxation of the chain degrees of freedom, MCT provides a microscopic basis for time scales from chain reorientation down to the caging regime. It rationalizes, from first principles, the observed deviations from the Rouse model on increasing the barrier strength. These include anomalous scaling of relaxation times, long-time plateaux, and nonmonotonous wavelength dependence of the mode correlators.