1,029 research outputs found

    Payments and finance problems in the Commonwealth of Independent States

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    Payments problems constrained interstate trade among the Commonwealth of Independent States (CIS) countries in 1992-95, especially during the prolonged demise of the ruble zone. Two kinds of solutions should be sought: 1) more effective stabilization measures to improve the prospects of currency convertibility among CIS countries; and 2) strengthening of institutional arrangements to permit payments and settlements through correspondent bank accounts. Strengthening institutions will require not only strengthening commercial banks but liberalizing foreign exchange markets and promoting the use of letters of credit and other mechanisms to increase the security of trade transactions. A multilateral clearing arrangement operated among central banks would have been a useful alternative to the chaotic payments prevailing earlier, but such arrangements are no longer needed as considerable progress has been made toward convertibility. Nor is a payments union desirable. Trade deficits are likely to persist in such countries as Belarus and Ukraine. Surplus countries such as Russia and Turkmenistan must develop transparent means of trade financing that take into account the recipient countries'ability to pay. External financing will remain important for practically all CIS countries. The best way to mobilize private financing will be to establish macroeconomic stability and stable, transparent rules on private capital inflows. Improving the flow of public resources requires improving countries'capacity to quickly absorb the large amounts already committed. Donors need to expedite procurement and other procedures and recipient countries must address governance problems and institutional weaknesses that delay disbursements. Certain smaller CIS countries face significant debt servicing problems and often the creditors are other CIS countries that themselves need additional financing. The smaller countries need debt relief on concessional terms, which is possible only if external assistance allows local creditors to offer such relief.Environmental Economics&Policies,Payment Systems&Infrastructure,Economic Theory&Research,Trade Policy,Financial Intermediation,Economic Theory&Research,Environmental Economics&Policies,TF054105-DONOR FUNDED OPERATION ADMINISTRATION FEE INCOME AND EXPENSE ACCOUNT,Trade Policy,Financial Intermediation

    Solving linear partial differential equations via semidefinite optimization

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    Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Electrical Engineering and Computer Science, 2001.Includes bibliographical references (p. 49-51).Using recent progress on moment problems, and their connections with semidefinite optimization, we present in this thesis a new methodology based on semidefinite optimization, to obtain a hierarchy of upper and lower bounds on both linear and nonlinear functionals defined on solutions of linear partial differential equations. We apply the proposed methods to examples of PDEs in one and two dimensions with very encouraging results. We also provide computational evidence that the semidefinite constraints are critically important in improving the quality of the bounds, that is without them the bounds are weak.by Constantine Caramanis.S.M

    Adaptable optimization : theory and algorithms

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    Thesis (Ph. D.)--Massachusetts Institute of Technology, Dept. of Electrical Engineering and Computer Science, 2006.Includes bibliographical references (p. 189-200).Optimization under uncertainty is a central ingredient for analyzing and designing systems with incomplete information. This thesis addresses uncertainty in optimization, in a dynamic framework where information is revealed sequentially, and future decisions are adaptable, i.e., they depend functionally on the information revealed in the past. Such problems arise in applications where actions are repeated over a time horizon (e.g., portfolio management, or dynamic scheduling problems), or that have multiple planning stages (e.g., network design). The first part of the thesis focuses on the robust optimization approach to systems with uncertainty. Unlike the probability-driven stochastic programming approach, robust optimization is built on deterministic set-based formulations of uncertainty. This thesis seeks to place Robust Optimization within a dynamic framework. In particular, we introduce the notion of finite adaptability. Using geometric results, we characterize the benefits of adaptability, and use these theoretical results to design efficient algorithms for finding near-optimal protocols. Among the novel contributions of the work are the capacity to accommodate discrete variables, and the development of a hierarchy of adaptability.(cont.) The second part of the thesis takes a data-driven view to uncertainty. The central questions are (a) how can we construct adaptability in multi-stage optimization problems given only data, and (b) what feasibility guarantees can we provide. Multi-stage Stochastic Optimization typically requires exponentially many data points. Robust Optimization, on the other hand, has a very limited ability to address multi-stage optimization in an adaptable manner. We present a hybrid sample-based robust optimization methodology for constructing adaptability in multi-stage optimization problems, that is both tractable and also flexible, offering a hierarchy of adaptability. We prove polynomial upper bounds on sample complexity. We further extend our results to multi-stage problems with integer variables in the future stages. We illustrate the ideas above on several problems in Network Design, and Portfolio Optimization. The last part of the thesis focuses on an application of adaptability, in particular, the ideas of finite adaptability from the first part of the thesis, to the problem of air traffic control. The main problem is to sequentially schedule the departures, routes, ground-holding, and air-holding, for every flight over the national air space (NAS).(cont.) The schedule seeks to minimize the aggregate delay incurred, while satisfying capacity constraints that specify the maximum number of flights that can take off or land at a particular airport, or fly over the same sector of the NAS at any given time. These capacities are impacted by the weather conditions. Since we receive an initial weather forecast, and then updates throughout the day, we naturally have a multistage optimization problem, with sequentially revealed uncertainty. We show that finite adaptability is natural, since the scheduling problem is inherently finite, and furthermore the uncertainty set is low-dimensional. We illustrate both the applicability of finite adaptability, and also its effectiveness, through several examples.by Constantine Caramanis.Ph.D

    Constantine and the Christian Empire

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    Under Constantine, Christianity was transformed from a persecuted cult into an established religion, and pagan Rome became the Christian empire of Byzantine times. This biography is a detailed, comprehensive, and compelling portrayal of the life and times of arguably the greatest of Roman emperors. In a seamless combination of vivid narrative and historical analysis, the crisis of the Roman Empire and the Great persecution, Constantine\u27s political maneuvers and military campaigns, his conversion to and patronage of Christianity, and his church-building programs in Rome, Jerusalem, and Constantinople are brought to life and made understandable for modern readers. The author\u27s comprehensive knowledge of the literary sources, and his extensive research into the material remains of Constantine\u27s reign, mean that this volume provides a more rounded and accurate portrait of the emperor than ever before. Extensively illustrated and fully documented, Constantine and the Christian Empire is a landmark publication in Roman imperial, early Christian, and Byzantine history.https://scholarworks.boisestate.edu/fac_books/1489/thumbnail.jp

    The why's the limit: curtailing self-enhancement with explanatory introspection

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    Self-enhancement is linked to psychological gains (e.g., subjective well-being, persistence in adversity) but also to intrapersonal and interpersonal costs (e.g., excessive risk taking, antisocial behavior). Thus, constraints on self-enhancement may sometimes afford intrapersonal and interpersonal advantages. We tested whether explanatory introspection (i.e., generating reasons for why one might or might not possess personality traits) constitutes one such constraint. Experiment 1 demonstrated that explanatory introspection curtails self-enhancement. Experiment 2 clarified that the underlying mechanism must (a) involve explanatory questioning rather than descriptive imagining, (b) invoke the self rather than another person, and (c) feature written expression rather than unaided contemplation. Finally, Experiment 3 obtained evidence that an increase in uncertainty about oneself mediates the effect
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