Upwind compact method and direct numerical-simulation of driven flow in a square cavity

A high-order accurate finite-difference scheme, the upwind compact method, is proposed. The 2-D unsteady incompressible Navier-Stokes equations are solved in primitive variables. The nonlinear convection terms in the governing equations are approximated by using upwind biased compact difference, and other spatial derivative terms are discretized by using the fourth-order compact difference. The upwind compact method is used to solve the driven flow in a square cavity. Solutions are obtained for Reynolds numbers as high as 10000. When Re less than or equal to 5000, the results agree well with those in literature. When Re = 7500 and Re = 10000, there is no convergence to a steady laminar solution, and the flow becomes unsteady and periodic.

The Importance of Stock Market Returns in Estimated Monetary Policy Rules: a Structural Approach

This paper estimates a standard version of the New Keynesian Monetary (NKM) model augmented with financial variables in order to analyze the relative importance of stock market returns and term spread in the estimated U.S. monetary policy rule. The estimation procedure implemented is a classical structural method based on the indirect inference principle. The empirical results show that the Fed seems to respond to the macroeconomic outlook and to the stock market return but does not seem to respond to the term spread. Moreover, policy inertia and persistent policy shocks are also significant features of the estimated policy rule.

Asset pricing and systematic liquidity risk: an empirical investigation of the Spanish stock market

Systematic liquidity shocks should affect the optimal behavior of agents in financial markets. Indeed, fluctuations in various measures of liquidity are significantly correlated across common stocks. Accordingly, this paper empirically analyzes whether Spanish average returns vary cross-sectionally with betas estimated relative to two competing liquidity risk factors. The first one, proposed by Pastor and Stambaugh (2002), is associated with the strength of volume-related return reversals. Our marketwide liquidity factor is defined as the difference between returns highly sensitive to changes in the relative bid-ask spread and returns with low sensitivities to those changes. Our empirical results show that neither of these proxies for systematic liquidity risk seems to be priced in the Spanish stock market. Further international evidence is deserved.

An austerity-driven energy reform

In July 2013, the government approved a major overhaul of the Spanish electricity sector to correct existing imbalances that have led to an exponential increase of regulated electricity costs and a huge tariff deficit. The reform addresses the problem of financial sustainability of the sector, severely affected by weak demand and overcapacity. Previous regulation introduced in 2012 and early 2013, also aimed at restoring financial stability of the sector, failed to correct the tariff shortfall and new regulatory measures were needed to reduce the 4.5 billion euros forecasted deficit for 2013. The frequent change of the rules of the game in the sector has created regulatory uncertainty, more so as it is not clear that the present reform will be sufficient to eliminate the deficit. Moreover, the government has left the door open to new regulation that would deal with the price formation system. In general, short run financial criteria have prevailed, while efficiency principles and a long run perspective have little weight in the reform.

Markets and microstructure

This document contains three papers examining the microstructure of financial interaction in development and market settings. I first examine the industrial organization of financial exchanges, specifically limit order markets. In this section, I perform a case study of Google stock surrounding a surprising earnings announcement in the 3rd quarter of 2009, uncovering parameters that describe information flows and liquidity provision. I then explore the disbursement process for community-driven development projects. This section is game theoretic in nature, using a novel three-player ultimatum structure. I finally develop econometric tools to simulate equilibrium and identify equilibrium models in limit order markets.

In chapter two, I estimate an equilibrium model using limit order data, finding parameters that describe information and liquidity preferences for trading. As a case study, I estimate the model for Google stock surrounding an unexpected good-news earnings announcement in the 3rd quarter of 2009. I find a substantial decrease in asymmetric information prior to the earnings announcement. I also simulate counterfactual dealer markets and find empirical evidence that limit order markets perform more efficiently than do their dealer market counterparts.

In chapter three, I examine Community-Driven Development. Community-Driven Development is considered a tool empowering communities to develop their own aid projects. While evidence has been mixed as to the effectiveness of CDD in achieving disbursement to intended beneficiaries, the literature maintains that local elites generally take control of most programs. I present a three player ultimatum game which describes a potential decentralized aid procurement process. Players successively split a dollar in aid money, and the final player--the targeted community member--decides between whistle blowing or not. Despite the elite capture present in my model, I find conditions under which money reaches targeted recipients. My results describe a perverse possibility in the decentralized aid process which could make detection of elite capture more difficult than previously considered. These processes may reconcile recent empirical work claiming effectiveness of the decentralized aid process with case studies which claim otherwise.

In chapter four, I develop in more depth the empirical and computational means to estimate model parameters in the case study in chapter two. I describe the liquidity supplier problem and equilibrium among those suppliers. I then outline the analytical forms for computing certainty-equivalent utilities for the informed trader. Following this, I describe a recursive algorithm which facilitates computing equilibrium in supply curves. Finally, I outline implementation of the Method of Simulated Moments in this context, focusing on Indirect Inference and formulating the pseudo model.

Electron dynamics and harmonics emission spectra due to electron oscillation driven by intense laser pulses

The dynamics and harmonics emission spectra due to electron oscillation driven by intense laser pulses have been investigated considering a single electron model. The spectral and angular distributions of the harmonics radiation are numerically analyzed and demonstrate significantly different characteristics from those of the low-intensity field case. Higher-order harmonic radiation is possible for a sufficiently intense driving laser pulse. A complex shifting and broadening structure of the spectrum is observed and analyzed for different polarization. For a realistic pulsed photon beam, the spectrum of the radiation is redshifted for backward radiation and blueshifted for forward radiation, and spectral broadening is noticed. This is due to the changes in the longitudinal velocity of the electron during the laser pulse. These effects are much more pronounced at higher laser intensities giving rise to even higher-order harmonics that eventually leads to a continuous spectrum. Numerical simulations have further shown that broadening of the high harmonic radiation can be limited by increasing the laser pulse width. The complex shifting and broadening of the spectra can be employed to characterize the ultrashort and ultraintense laser pulses and to study the ultrafast dynamics of the electrons. (c) 2006 American Institute of Physics.

Essays on economics networks

This thesis belongs to the growing field of economic networks. In particular, we develop three essays in which we study the problem of bargaining, discrete choice representation, and pricing in the context of networked markets. Despite analyzing very different problems, the three essays share the common feature of making use of a network representation to describe the market of interest.

In Chapter 1 we present an analysis of bargaining in networked markets. We make two contributions. First, we characterize market equilibria in a bargaining model, and find that players' equilibrium payoffs coincide with their degree of centrality in the network, as measured by Bonacich's centrality measure. This characterization allows us to map, in a simple way, network structures into market equilibrium outcomes, so that payoffs dispersion in networked markets is driven by players' network positions. Second, we show that the market equilibrium for our model converges to the so called eigenvector centrality measure. We show that the economic condition for reaching convergence is that the players' discount factor goes to one. In particular, we show how the discount factor, the matching technology, and the network structure interact in a very particular way in order to see the eigenvector centrality as the limiting case of our market equilibrium.

We point out that the eigenvector approach is a way of finding the most central or relevant players in terms of the “global” structure of the network, and to pay less attention to patterns that are more “local”. Mathematically, the eigenvector centrality captures the relevance of players in the bargaining process, using the eigenvector associated to the largest eigenvalue of the adjacency matrix of a given network. Thus our result may be viewed as an economic justification of the eigenvector approach in the context of bargaining in networked markets.

As an application, we analyze the special case of seller-buyer networks, showing how our framework may be useful for analyzing price dispersion as a function of sellers and buyers' network positions.

Finally, in Chapter 3 we study the problem of price competition and free entry in networked markets subject to congestion effects. In many environments, such as communication networks in which network flows are allocated, or transportation networks in which traffic is directed through the underlying road architecture, congestion plays an important role. In particular, we consider a network with multiple origins and a common destination node, where each link is owned by a firm that sets prices in order to maximize profits, whereas users want to minimize the total cost they face, which is given by the congestion cost plus the prices set by firms. In this environment, we introduce the notion of Markovian traffic equilibrium to establish the existence and uniqueness of a pure strategy price equilibrium, without assuming that the demand functions are concave nor imposing particular functional forms for the latency functions. We derive explicit conditions to guarantee existence and uniqueness of equilibria. Given this existence and uniqueness result, we apply our framework to study entry decisions and welfare, and establish that in congested markets with free entry, the number of firms exceeds the social optimum.

Electron quantum path tuning and isolated attosecond pulse emission driven by a waveform-controlled multi-cycle laser field

We investigate high-order harmonic emission and isolated attosecond pulse (IAP) generation in atoms driven by a two-colour multi-cycle laser field consisting of an 800 nm pulse and an infrared laser pulse at an arbitrary wavelength. With moderate laser intensity, an IAP of similar to 220 as can be generated in helium atoms by using two-colour laser pulses of 35 fs/800 nm and 46 fs/1150 nm. The discussion based on the three-step semiclassical model, and time-frequency analysis shows a clear picture of the high-order harmonic generation in the waveform-controlled laser field which is of benefit to the generation of XUV IAP and attosecond electron pulses. When the propagation effect is included, the duration of the IAP can be shorter than 200 as, when the driving laser pulses are focused 1 mm before the gas medium with a length between 1.5 mm and 2 mm.

Red shift and broadening of backward harmonic radiation from electron oscillations driven by femtosecond laser pulse

The characteristics of backward harmonic radiation due to electron oscillations driven by a linearly polarized fs laser pulse are analysed considering a single electron model. The spectral distributions of the electron's backward harmonic radiation are investigated in detail for different parameters of the driver laser pulse. Higher order harmonic radiations are possible for a sufficiently intense driving laser pulse. We have shown that for a realistic pulsed photon beam, the spectrum of the radiation is red shifted as well as broadened because of changes in the longitudinal velocity of the electrons during the laser pulse. These effects are more pronounced at higher laser intensities giving rise to higher order harmonics that eventually leads to a continuous spectrum. Numerical simulations have further shown that by increasing the laser pulse width the broadening of the high harmonic radiations can be controlled.

Spectral distributions of harmonic generation from electron oscillation driven by intense femtosecond laser pulses

The characteristics of harmonic radiation due to electron oscillation driven by an intense femtosecond laser pulse are analyzed considering a single electron model. An interesting modulated structure of the spectrum is observed and analyzed for different polarization. Higher order harmonic radiations are possible for a sufficiently intense driving laser pulse. We have shown that for a realistic pulsed photon beam, the spectrum of the radiation is red shifted as well as broadened because of changes in the longitudinal velocity of the electrons during the laser pulse. These effects are more pronounced at higher laser intensities giving rise to higher order harmonics that eventually leads to a continuous spectrum. Numerical simulations have further shown that by increasing the laser pulse width broadening of the high harmonic radiations can be limited. (C) 2005 Elsevier B.V. All rights reserved.

Linking Reduced Deforestation and a Global Carbon Market: Impacts on Costs, Financial Flows, and Technological Innovation

25 p.

Wind-driven desertification: process modeling, remote monitoring, and forecasting

Arid and semiarid landscapes comprise nearly a third of the Earth's total land surface. These areas are coming under increasing land use pressures. Despite their low productivity these lands are not barren. Rather, they consist of fragile ecosystems vulnerable to anthropogenic disturbance.

The purpose of this thesis is threefold: (I) to develop and test a process model of wind-driven desertification, (II) to evaluate next-generation process-relevant remote monitoring strategies for use in arid and semiarid regions, and (III) to identify elements for effective management of the world's drylands.

In developing the process model of wind-driven desertification in arid and semiarid lands, field, remote sensing, and modeling observations from a degraded Mojave Desert shrubland are used. This model focuses on aeolian removal and transport of dust, sand, and litter as the primary mechanisms of degradation: killing plants by burial and abrasion, interrupting natural processes of nutrient accumulation, and allowing the loss of soil resources by abiotic transport. This model is tested in field sampling experiments at two sites and is extended by Fourier Transform and geostatistical analysis of high-resolution imagery from one site.

Next, the use of hyperspectral remote sensing data is evaluated as a substantive input to dryland remote monitoring strategies. In particular, the efficacy of spectral mixture analysis (SMA) in discriminating vegetation and soil types and detennining vegetation cover is investigated. The results indicate that hyperspectral data may be less useful than often thought in determining vegetation parameters. Its usefulness in determining soil parameters, however, may be leveraged by developing simple multispectral classification tools that can be used to monitor desertification.

Finally, the elements required for effective monitoring and management of arid and semiarid lands are discussed. Several large-scale multi-site field experiments are proposed to clarify the role of wind as a landscape and degradation process in dry lands. The role of remote sensing in monitoring the world's drylands is discussed in terms of optimal remote sensing platform characteristics and surface phenomena which may be monitored in order to identify areas at risk of desertification. A desertification indicator is proposed that unifies consideration of environmental and human variables.

Phase-matching control of high-order harmonic generation in a two-color laser field

The phase-matching condition of high-order harmonic generation driven by intense few-cycle pulses could be controlled by adding second-harmonic pulses to change the ionization fraction of the gaseous medium. The harmonic generation efficiency could be improved by moving the phase-matching point with an all-optical control of the ionization fraction or a proper change of the confocal parameter. A specific order of harmonics could be easily controlled to reach phase matching at a fixed higher gas pressure by adding second-harmonic pulses with a suitable intensity. Such an all-optical phase-matching control was demonstrated to be dependent upon the temporal delay between the fundamental-wave and second harmonic pulses.

Medicina tecnológica, cuidado e business: estudo sobre a prática dos médicos oncologistas no Brasil

Esta tese consiste em um estudo sobre o trabalho e a prática médica observados a partir do tipo ideal Werberiano da medicina tecnológica qual seja: a prática médica especializada, equipada e fragmentada, que começou a ser exercida no Brasil apartir nos anos sessenta. Elegemos para esse estudo médicos oncologistas clínicos inseridos em serviços públicos e privados de saúde. A eleição dos oncologistas clínicos se deu pelo reconhecimento da oncologia como uma prática muito especializada e amparada por equipamentos e procedimentos que se fortaleceu no Brasil na década de sessenta.Pretendeu-se compreender as singularidades dessa prática focalizando a formação, o tipo de cuidado ofertado aos pacientes, a inserção dos médicos no mercado público e privado e a relação entre eles. Inicia-se com uma abordagem geral da prática médica baseada no saber sobre as doenças, no processo histórico e cultural da apreensão desta prática e suas repercussões na sociedade e no mercado de trabalho. Em seguida apresentamos uma revisão sumária da trajetória da oncologia no Brasil, a representação social do câncer, as políticas de saúde da área e a relação entre os médicos, o estado e a sociedade nesse campo. Esse conjunto foi caracterizado como Projeto Médico Oncológico.Utilizou-se, no trabalho de campo, a pesquisa qualitativa e empregou-se como técnica entrevistas com seis profissionais médicos oncologistas que trabalham no Instituto Nacional do Câncer e no setor privado de saúde. Foi realizada uma entrevista piloto visando apresentar na íntegra os temas abordados nas demais entrevistas. A partir do olhar e das reflexões dos médicos são apresentadas quatro categorias para discussão e considerações. Finalizando o estudo apresenta através das categorias obtidas no trabalho de campo uma problematização do modelo idealizado na medicina tecnológica.

Simulating intertwined design processes that have similar structures: A case study of a small company that creates made-to-order fashion products

The authors use simulation to analyse the resource-driven dependencies between concurrent processes used to create customised products in a company. Such processes are uncertain and unique according to the design changes required. However, they have similar structures. For simulation, a level of abstraction is chosen such that all possible processes are represented by the same activity network. Differences between processes are determined by the customisations that they implement. The approach is illustrated through application to a small business that creates customised fashion products. We suggest that similar techniques could be applied to study intertwined design processes in more complex domains. Copyright © 2011 Inderscience Enterprises Ltd.