scholarly journals The Optimal Control of Government Stabilization Funds

Mathematics ◽  
2020 ◽  
Vol 8 (11) ◽  
pp. 1975
Author(s):  
Abel Cadenillas ◽  
Ricardo Huamán-Aguilar
Keyword(s):  
Optimal Control ◽  
Public Debt ◽  
Government Programs ◽  
Fund Manager ◽  
Running Cost ◽  
The Difference ◽  
The Government ◽  
The One ◽  
First Time

We study the optimal control of a government stabilization fund, which is a mechanism to save money during good economic times to be used in bad economic times. The objective of the fund manager is to keep the fund as close as possible to a predetermined target. Accordingly, we consider a running cost associated with the difference between the actual fiscal fund and the fund target. The fund manager exerts control over the fund by making deposits in or withdrawals from the fund. The withdrawals are used to pay public debt or to finance government programs. We obtain, for the first time in the literature, the optimal band for the government stabilization fund. Our results are of interest to practitioners. For instance, we find that the higher the volatility, the larger the size of the optimal band. In particular, each country and state should have its own optimal fund band, in contrast to the “one-size-fits-all” approach that is often used in practice.

scholarly journals On an optimal extraction problem with regime switching

2018 ◽  
Vol 50 (3) ◽  
pp. 671-705 ◽  
Author(s):  
Giorgio Ferrari ◽  
Shuzhen Yang
Keyword(s):  
Optimal Control ◽  
Regime Switching ◽  
Spot Price ◽  
Discounted Cash Flow ◽  
State Process ◽  
Running Cost ◽  
The One ◽  
A Company ◽  
Skorokhod Reflection ◽  
The Value Function

AbstractIn this paper we study a finite-fuel two-dimensional degenerate singular stochastic control problem under regime switching motivated by the optimal irreversible extraction problem of an exhaustible commodity. A company extracts a natural resource from a reserve with finite capacity and sells it in the market at a spot price that evolves according to a Brownian motion with volatility modulated by a two-state Markov chain. In this setting, the company aims at finding the extraction rule that maximizes its expected discounted cash flow, net of the costs of extraction and maintenance of the reserve. We provide expressions for both the value function and the optimal control. On the one hand, if the running cost for the maintenance of the reserve is a convex function of the reserve level, the optimal extraction rule prescribes a Skorokhod reflection of the (optimally) controlled state process at a certain state and price-dependent threshold. On the other hand, in the presence of a concave running cost function, it is optimal to instantaneously deplete the reserve at the time at which the commodity's price exceeds an endogenously determined critical level. In both cases, the threshold triggering the optimal control is given in terms of the optimal stopping boundary of an auxiliary family of perpetual optimal selling problems with regime switching.

scholarly journals Tafsir Resmi Versi Pemerintah di Indonesia

2021 ◽  
Vol 1 (2) ◽  
Author(s):  
Siti Pajriah ◽  
Sahlan Muhammad Faqih
Keyword(s):  
Provincial Government ◽  
New Order ◽  
The West ◽  
Regional Office ◽  
The Reformation ◽  
The Difference ◽  
The Government ◽  
Development Center ◽  
First Time ◽  
Local Languages

In 1965 a translation of the Holy Koran of the Ministry of Religion was printed, consisting of three volumes. During the New Order government, 1972, a team of experts on the interpretation of the Koran was formed. Three years later, in 1975, published for the first time a volume of one-volume tafsir of the first three chapters of the Koran, 1980 this tafsir work was complete up to thirty juz. Also, the government also enriches the interpretation and translation of the Koran using local dialects and the treasury of the Indonesian Koran. For example, the translation and interpretation of the Sundanese Koran published by the provincial government and the West Java regional office of the Ministry of Religion. Besides, the Indonesian Ministry of Religion's Research and Development Center for Literature has published a translation of the Koran in Sundanese, along with the publication of a translated Koran using 15 other local languages. The formulation of the government's interpretation underwent changes that coincided with the transition of power from the New Order to the reformation. The difference is evident in the approach of its interpretation which has shifted from al-tahlîli (descriptive-analytical) with an hidâ'i (guidance) style to a method maudû'i (thematic) with an 'ilmî (scientific) style.

scholarly journals 「3密」概念の誕生と変遷: 日本のCOVID-19対策とコミュニケーションの問題

2020 ◽  
Author(s):  
Sigeto Tanaka
Keyword(s):  
Short Distance ◽  
Close Contact ◽  
Closed Space ◽  
The Public ◽  
Government Documents ◽  
The Difference ◽  
The Government ◽  
Poor Ventilation ◽  
First Time

The concept of “three Cs” (situations characterized by three conditions of closed space with poor ventilation, crowding, and close contact with a short distance) has played an important role in Japan's COVID-19 response. The government and experts have employed this concept to guide people in avoiding such situations in order to prevent outbreaks. To investigate the emergence and modification of this concept, the author traced government documents. The findings were as follows. (1) On February 29, 2020, the government, for the first time, appealed to the public to avoid places with the three overlapping conditions. (2) On March 18, a new Japanese phrase was coined that was later translated as “the (overlapping) three Cs.” (3) On April 1, experts defined the term as a place that satisfied all the three conditions. (4) On April 7, the government modified the definition to include places with at least one of the three conditions. (5) However, the government and experts have not explained the difference between the two definitions to the public. (6) Rather, they insist that their policy on the need for avoiding these three conditions has been consistent and unchanged. Their conduct has led to miscommunication and misunderstanding among the public.

Effect of Pore Ensemble Statistics on Load Support of Mechanical Seals With Pore-Covered Faces

1999 ◽  
Vol 121 (4) ◽  
pp. 927-932 ◽  
Author(s):  
Leonid Burstein ◽  
Dov Ingman
Keyword(s):  
Control Cell ◽  
Size Variation ◽  
Hydrodynamic Pressure ◽  
Mean Value ◽  
Mechanical Seals ◽  
Load Carrying ◽  
Size Diversity ◽  
The Difference ◽  
The One ◽  
First Time

A mathematical model was developed for predicting the performance of laser-textured seals with pores. A solution of the two-dimensional steady-state Reynolds equation was given for rectangular and exponential pores, as well as expressions for the hydrodynamic pressure distribution over the control cell and for the cell load support. The difference between the two pore shapes can be reduced from a factor of multiple times to 30 percent at most—if the pore volume is kept constant. It was also shown that the total hydrodynamically induced load-carrying capacity can be obtained with accuracy, even if the pore radius of the seal surface is assumed to vary over a wide interval about its mean value, as it does in reality. Diameters in an ensemble of over 4 · 104 pores were run at random for 500 seal faces. It was established for the first time that load support of an ensemble exceeds by 22 percent the one determined for N identical pores. The model for the entire pore population as an ensemble with size variation is more realistic, and substantiates the possibilities and advisability of pore size diversity, hitherto considered undesirable in the pore production process. In general, the pore ensemble is an essential aspect in exact determination of the load support and better insight into the tribologic behavior of pore-covered surfaces.

scholarly journals Verbalisation of the image of man in the English and Lak languages

2019 ◽  
Vol 10 (4) ◽  
Author(s):  
Mariana Abakarova
Keyword(s):  
Way Of Life ◽  
Thematic Layers ◽  
The Past ◽  
Key Factor ◽  
Geographical Position ◽  
The Difference ◽  
The One ◽  
First Time ◽  
English Culture ◽  
The Ideal

The article analyses English and Lak proverbs describing a man. Proverbs have been chosen as a material of study due to the fact that they are the entities revealing the mentality of a certain ethnic group. The author was compelled to conduct this study owing to the current lack of research in the area of Lak proverbs. The novelty of the article lies in the fact that for the first time it has provided a psychological portrait of a man on the basis of the English and Lak languages. Isolated geographical position of Lak and English people was the cause of their inclination for conservative way of life which resulted in the formation of certain stereotypes of a Lak and an Englishman. The aim of the author was to discover those stereotypes by means of detecting universal and specific traits of Lak and English people. To reach that aim the author grouped the proverbs in thematic layers and provided them with linguocultural commentary. The image of man consists of such characteristics as reliability or unreliability, reserve or verbosity, valiancy or cowardice, ability or inability to fight, patience or impatience and love of food. The analysis showed that the ideal man in both Lak and English culture is the one who is patient, restrained and able to defend himself and his family, including the situation on the battlefield. The difference between the Lak and the English appeared in the degree of man’s readiness to fight. For the Laks whose life in the past was passing between wars the key factor was their ability to wage war while the English are more reserved and cautious in their actions.

scholarly journals Tobacco Production in Switzerland

1998 ◽  
Vol 18 (1) ◽  
pp. 43-46 ◽  
Author(s):  
G Alber
Keyword(s):  
World Market Price ◽  
Market Price ◽  
World Market ◽  
Family Farms ◽  
Tobacco Production ◽  
Acceptable Quality ◽  
French Speaking ◽  
The Difference ◽  
The Government ◽  
The One

AbstractIn Switzerland approximately 730 ha of tobacco are grown, mainly on small family farms. The main growing area is located in the French speaking part of the country, on altitudes ranging from 400 to 800 m above sea level. Approximately 93 % of the surface is planted with Burley and 7 % with Virginia. The cigarette manufacturers have to buy the whole crop of acceptable quality by law proportionally to their market share in Switzerland, in total approximately 1300-1500 tons per year. The buying organization, named SOTA (Societe cooperative pour l'achat du tabac indigene) has been created by the industry in 1930. It is responsible to buy and distribute the whole crop and finances a small research center with the aim to improve the quality. There is an agreement between the SOTA and the grower's organization FAPTA (Federation suisse des associations de planteurs de tabac) that limits the maximum surface to 730 ha. The price paid to the farmer is fixed by the government and is significantly higher than the world market price. The difference between the price paid to the farmer and the one paid by the industry is compensated by a specific fund which is under supervision of the custom and excise department. Because of several good crops, this system of subsidy became problematic. Therefore a new system of quota has been introduced for the 1997/1998 crop which limits the quantity of tobacco which can be delivered by each farmer.

scholarly journals Law and religion in “Martian the Lawyer”, the dramatic poem by Lesia Ukrainka

2021 ◽  
pp. 39-55
Author(s):  
Tetyana Dagovych
Keyword(s):  
Early Christianity ◽  
Roman Law ◽  
Third Century ◽  
Human Beings ◽  
Christian Community ◽  
Law Of Nature ◽  
The Difference ◽  
The One ◽  
First Time ◽  
Christian Leaders

The paper explains the attitudes towards law and religion in Lesia Ukrainka’s dramatic poem “Martian the Lawyer” (1911). The poem depicts the life of early Christians under the Roman law in the third century and obtains new relevance in the context of the movement ‘Law and Literature’, as the focus on law in this oeuvre allows a deeper exploration of its meaning. Law is connected with religion in two ways in the poem: as a part of the civil religion and as a system of prohibitions and punishments within the Christian community. Analysis of the text shows that Martian is a carrier of a sophisticated religious form, which implies the juridical elements codified in early Christianity, as well as a belief in law as the incarnation of the idea of truth and justice. The two antagonistic social and spiritual systems – early Christianity and the Roman law – fuse into one ideology that consumes the life of the protagonist. The difference between the juridical laws, the law of nature, and the commandments of Christian leaders disappears within this religious form. In the house of the hero, only those things that represent time or law remain, such as different types of timepieces and juridical texts; Martian’s home becomes a place for abstract ideas, but not for human beings with their needs and feelings. For the protagonist, there are no conflicts between law and religion, but there is a conflict between early Christianity and the Roman law on the one side and, on the other side, human compassion, which is supposed to be a crucial idea within Christianity but is not practiced in the local Christian community. Because of this conflict, Martian completely loses contact with human feelings and becomes an ideal lawyer, which is beneficial for his Christian community but tragic for himself and his relatives. This development signifies not only a sacrifice but also the full realization of Martian’s talent (Ukrainian: ‘khyst’). In some episodes within other poems by Lesia Ukrainka, law and religion are presented as intertwined or undifferentiated, but in “Martian the Lawyer” the author for the first time elaborates this issue thoroughly and creates an ambivalent and sophisticated dramatic situation.

scholarly journals TWO PERSPECTIVES ON THE ACT ON MUSEUMS

Muzealnictwo ◽  
2021 ◽  
Vol 62 ◽  
pp. 254-257
Author(s):  
Alicja Jagielska-Burduk ◽  
Piotr Stec
Keyword(s):  
Cultural Heritage ◽  
Legal Protection ◽  
The Other ◽  
Historic Monuments ◽  
The Difference ◽  
The One ◽  
Administrative Proceedings ◽  
First Time

In the paper the analysis of two newly published commentaries (2021) on the Act on Museums is conducted: the first commentary by A. Barbasiewicz, a lawyer specializing in cultural heritage, and the other by a team of scholars: Z. Cieślik, I. Gredka-Ligarska, P. Gwoździewicz- -Matan, I. Lipowicz, A. Matan, K. Zeidler specializing in administrative proceedings and legal protection of historic monuments. Both publications represent various perspectives on the same issue, thus complementing one another. The difference in the approach makes them both useful to experienced practitioners on the one hand and those who happen to confront these topics for the first time one the other. Importantly, both have been written in a clear language comprehensible to non-lawyers. Their high-rating cannot be diminished by the few critical remarks formulated in the paper.

Use of a Lyophilized Reference Plasma to Compare Coagulation Test Procedures

1975 ◽  
Vol 34 (02) ◽  
pp. 426-444 ◽  
Author(s):  
J Kahan ◽  
I Nohén
Keyword(s):  
Oral Anticoagulant Therapy ◽  
Repeated Measurements ◽  
Test Procedures ◽  
Coagulation Activity ◽  
Close Relationship ◽  
Measured Activity ◽  
Test Materials ◽  
The Difference ◽  
The Stability ◽  
The One

SummaryIn 4 collaborative trials, involving a varying number of hospital laboratories in the Stockholm area, the coagulation activity of different test materials was estimated with the one-stage prothrombin tests routinely used in the laboratories, viz. Normotest, Simplastin-A and Thrombotest. The test materials included different batches of a lyophilized reference plasma, deep-frozen specimens of diluted and undiluted normal plasmas, and fresh and deep-frozen specimens from patients on long-term oral anticoagulant therapy.Although a close relationship was found between different methods, Simplastin-A gave consistently lower values than Normotest, the difference being proportional to the estimated activity. The discrepancy was of about the same magnitude on all the test materials, and was probably due to a divergence between the manufacturers’ procedures used to set “normal percentage activity”, as well as to a varying ratio of measured activity to plasma concentration. The extent of discrepancy may vary with the batch-to-batch variation of thromboplastin reagents.The close agreement between results obtained on different test materials suggests that the investigated reference plasma could be used to calibrate the examined thromboplastin reagents, and to compare the degree of hypocoagulability estimated by the examined PIVKA-insensitive thromboplastin reagents.The assigned coagulation activity of different batches of the reference plasma agreed closely with experimentally obtained values. The stability of supplied batches was satisfactory as judged from the reproducibility of repeated measurements. The variability of test procedures was approximately the same on different test materials.

Capaian pembangunan manusia: analisis komparatif Provinsi Banten, Jawa Barat dan DKI Jakarta

2018 ◽  
Vol 13 (1) ◽  
Author(s):  
Adriwati Adriwati
Keyword(s):  
Human Development ◽  
Human Development Index ◽  
Human Population ◽  
Provincial Government ◽  
Healthy Life ◽  
Development Index ◽  
Long Life ◽  
The Difference ◽  
The Government ◽  
Development Paradigm

Human development is a development paradigm that puts human (population) as the focus and final target of all development activities, namely the achievement of control over resources (income to achieve decent living), improvement of health status (long life and healthy life) and improve education. To see the success rate of human development, UNDP publishes an indicator of Human Development Index (HDI). This study discusses the achievements of human development that have been pursued by the government. The problem analyzed in this research is the difference of human development achievement in some provincial government in Indonesia. This paper aims to compare the achievements of human development in some provincial governments seen from the achievement of human development index of each province. Research location in Banten Province, West Java and DKI Jakarta.Keywords:Human Development Index, Human Development Achievement

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