By using the recent Gertler and Kiyotaki’s (2010) setup, this paper explores the interaction between real distortions stemming from the labor market institutions and …nancial shocks. We …nd that neither labor market imperfections nor …scal institutions determining tax wedges have an impact on the volatility of the real economy induced by a …nancial shock. By contrast, real wage rigidities matte...

The dynamics of the pairwise entanglement in a qubit lattice in the presence of static imperfections exhibits different regimes. We show that there is a transition from a perturbative region, where the entanglement is stable against imperfections, to the ergodic regime, in which a pair of qubits becomes entangled with the rest of the lattice and the pairwise entanglement drops to zero. The tran...

Research ...nds that ...rms’ investment decisions are distorted by irreversibility and ...nance constraints. Whereas the existing literature examines the e¤ects of these features separately, this paper studies their interaction. The impact of these constraints on a ...rm’s incentive to invest is characterised using option pricing techniques. Financial constraints reduce the initial capacity, ra...

This dissertation consists of three chapters on financial market imperfections, in particular, information imperfections. Chapter 1 studies how the existence of a fixed cost per transaction faced by uninformed investors hampers information revelation through price and exacerbates adverse selection. The exacerbated adverse selection explains one long-standing puzzle in finance the momentum anoma...

In the paper the main attention is paid to conditions on algebras from a given variety Θ which provide coincidence of their algebraic geometries. The main part here play the notions mentioned in the title of the paper.

Even in the absence of external influences the operability of a quantum computer (QC) is not guaranteed because of the effects of residual one– and two–body imperfections. Here we investigate how these internal flaws affect the performance of a quantum controlled-NOT (CNOT) gate in an isolated flawed QC. First we find that the performance of the CNOT gate is considerably better when the two–bod...

The unfolding due to imperfections of a gluing bifurcation occurring in a periodically forced Taylor–Couette system is numerically analyzed. In the absence of imperfections, a temporal glide-reflection Z2 symmetry exists, and two global bifurcations occur within a small parameter region: a heteroclinic bifurcation between two saddle two-tori and a gluing bifurcation of three-tori. Due to the pr...