Recently, a number of studies have departed from the mainstream view that in order to explain economic fluctuations in emerging markets, theoretical models must take explicitly into account the role of policy and market failures. This line of research argues that business cycles in emerging countries can be explained well using a neoclassical model featuring no distortions and driven solely by ...

We study the Whitham equations for the defocusing complex modified KdV (mKdV) equation. These Whitham equations are quasilinear hyperbolic equations and they describe the averaged dynamics of the rapid oscillations which appear in the solution of the mKdV equation when the dispersive parameter is small. The oscillations are referred to as dispersive shocks. The Whitham equations for the mKdV eq...

In this paper, we describe the nonlinear outcome of spiral shocks in protoplan-etary disks. Spiral shocks, for most protoplanetary disk conditions, create a loss of vertical force balance in the post-shock region and result in rapid expansion of the gas perpendicular to the disk midplane. This expansion has characteristics similar to hydraulic jumps, which occur in incompressible fluids. We pre...

In this paper, we describe the nonlinear outcome of spiral shocks in protoplan-etary disks. Spiral shocks, for most protoplanetary disk conditions, create a loss of vertical force balance in the post-shock region and result in rapid expansion of the gas perpendicular to the disk midplane. This expansion has characteristics similar to hydraulic jumps, which occur in incompressible fluids. We pre...

This article aims at studying one dimensional unsteady planar and cylindrically symmetric flow involving shocks under the influence of magnetic field. The method of generalized wavefront expansion (GWE) is employed to derive a coupled system of nonlinear transport equations for the jump of field variables and of its spatial derivatives across the shock, which, in turn determine the evolution of...

Cosmological shock waves result from supersonic flow motions induced by hierarchical clustering of nonlinear structures in the universe. These shocks govern the nature of cosmic plasma through thermalization of gas and acceleration of nonthermal, cosmic-ray (CR) particles. We study the statistics and energetics of shocks formed in cosmological simulations of a concordance ΛCDM universe, with a ...