Asymmetric Shocks Inside Future EMU

Asymmetric shocks among U.S. states

asymmetric effects of monetary shocks on output

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Future fiscal and budgetary shocks

We study here the effects of future tax and budgetary shocks on present levels of economic activity and real interest rates in a nonmonetary and possibly non-Ricardian economy. The paper first takes up an (unanticipated) temporary tax cut to be effective on a given future date—a delayed “debt bomb.” The sudden prospect of this future-dated shock causes at once a drop in the (unit) value placed ...

Idiosyncratic Shocks in an Asymmetric Cournot Oligopoly

For the Cournot model, several authors studied the impact of a marginal cost variation on consumers’ surplus, firms’ profits and social welfare. We unify and extend the results when all the marginal costs change simultaneously, the direction and the magnitude of the variation being firm-specific.

Whispering gallery modes inside asymmetric resonant cavities.

Two dimensional resonators with a smooth strictly convex boundary are known to possess a whispering gallery region supporting modes concentrated near the boundary. A new class of asymmetric resonant cavities is introduced, where a whispering gallery-like region is found deep inside the resonator. The construction of such resonators is a novel application of the geometric control methods. The re...