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Proceedings of the International Symposium for Production Research 2019
This book discusses the conference that forms a unique platform to bring together academicians and practitioners from industrial engineering and management engineering as well as from other disciplines working on production function applying the tools of operational research and production/operational management. Topics treated include: computer-aided manufacturing, Industry 4.0, big data and analytics, flexible manufacturing systems, fuzzy logic, industrial applications, information technologies in production management, optimization, production economy, production planning and control, productivity and performance management, project management, quality management, risk analysis and management, and supply chain management
Das House-Kapital
There are, by now, several long term, time series data sets on important housing & macro variables, such as land prices, house prices, and the housing wealth-to-income ratio. However, an appropriate theory that can be employed to think about such data and associated research questions has been lacking. We present a new housing & macro model that is designed specifically to analyze the long term. As an illustrative application, we demonstrate that the calibrated model replicates, with remarkable accuracy, the historical evolution of housing wealth (relative to income) after World War II and suggests a further considerable increase in the future. The model also accounts for the close connection of house prices to land prices in the data. We also compare our framework to the canonical housing & macro model, typically employed to analyze business cycles, and highlight the main differences.
International Fiscal-financial Spillovers: The Effect of Fiscal Shocks on Cross-border Bank Lending
This paper sheds new light on the degree of international fiscal-financial spillovers by investigating the effect of domestic fiscal policies on cross-border bank lending. By estimating the dynamic response of U.S. cross-border bank lending towards the 45 recipient countries to exogenous domestic fiscal shocks (both measured by spending and revenue) between 1990Q1 and 2012Q4, we find that expansionary domestic fiscal shocks lead to a statistically significant increase in cross-border bank lending. The magnitude of the effect is also economically significant: the effect of 1 percent of GDP increase (decrease) in spending (revenue) is comparable to an exogenous decline in the federal funds rat...
Oscillation Theory of Delay Differential Equations
In recent years there has been a resurgence of interest in the study of delay differential equations motivated largely by new applications in physics, biology, ecology, and physiology. The aim of this monograph is to present a reasonably self-contained account of the advances in the oscillation theory of this class of equations. Throughout, the main topics of study are shown in action, with applications to such diverse problems as insect population estimations, logistic equations in ecology, the survival of red blood cells in animals, integro-differential equations, and the motion of the tips of growing plants. The authors begin by reviewing the basic theory of delay differential equations, including the fundamental results of existence and uniqueness of solutions and the theory of the Laplace and z-transforms. Little prior knowledge of the subject is required other than a firm grounding in the main techniques of differential equation theory. As a result, this book provides an invaluable reference to the recent work both for mathematicians and for all those whose research includes the study of this fascinating class of differential equations.
Perspectives on Lethal Autonomous Weapon Systems
This publication considers lethal autonomous weapon systems, approaching the issue from five different perspectives. It has been published ahead of the first meeting of the Group of Governmental Experts of the High Contracting Parties to the Convention on Certain Conventional Weapons mandated to examine issues related to emerging technologies in the area of lethal autonomous weapon systems in the context of the objectives and purposes of the Convention. The United Nations Office for Disarmament Affairs Occasional Papers are a series of ad hoc publications featuring, in edited form, papers or statements made at meetings, symposiums, seminars, workshops or lectures that deal with topical issues in the field of arms limitation, disarmament and international security.
Long-Term Macroeconomic Effects of Climate Change: A Cross-Country Analysis
We study the long-term impact of climate change on economic activity across countries, using a stochastic growth model where labor productivity is affected by country-specific climate variables—defined as deviations of temperature and precipitation from their historical norms. Using a panel data set of 174 countries over the years 1960 to 2014, we find that per-capita real output growth is adversely affected by persistent changes in the temperature above or below its historical norm, but we do not obtain any statistically significant effects for changes in precipitation. Our counterfactual analysis suggests that a persistent increase in average global temperature by 0.04°C per year, in th...
Distributional Effects of Monetary Policy
As central banks across the globe have responded to the COVID-19 shock by rounds of extensive monetary loosening, concerns about their inequality impact have grown. But rising inequality has multiple causes and its relationship with monetary policy is complex. This paper highlights the channels through which monetary policy easing affect income and wealth distribution, and presents some quantitative findings about their importance. Key takeaways are: (i) central banks should remain focused on macro stability while continuing to improve public communications about distributional effects of monetary policy, and (ii) supportive fiscal policies and structural reforms can improve macroeconomic and distributional outcomes.
The Premia on State-Contingent Sovereign Debt Instruments
State-contingent debt instruments such as GDP-linked warrants have garnered attention as a potential tool to help debt-stressed economies smooth repayments over business cycles, yet very few studies of the empirical properties of these instruments exist. This paper develops a general f ramework to estimate the time-varying risk premium of a state-contingent sovereign debt instrument. Our estimation framework applied to GDP-linked warrants issued by Argentina, Greece, and Ukraine reveals three stylized facts: (i) the risk premium in state-contingent instruments is high and persistent; (ii) the risk premium exhibits a pro-cyclical pattern; and (iii) the liquidity premium is higher and more volatile than that for plain-vanilla government bonds issued by the same sovereign. We then present a model in which investors fear ambiguity and that can account for the cyclical properties of the risk premium.
Surgery of the Prostate
Prostate disease accounts for over 70% of the average urologist's referrals. Surgery is a common treatment option, particularly for prostate cancer, and great skill and expertise is required to ensure complete removal of tumorous tissue without damage to the healthy surrounding organs. This book covers the very latest techniques, such as vaporization of the prostate. It will give readers all the know-how they need to treat both malignant and non-malignant prostate disease surgically.
