The paper is concerned with the boundary controllability of entropy weak solutions to hyperbolic systems of conservation laws. We prove a general result on the asymptotic stabilization of a system near a constant state. On the other hand, we give an example showing that exact controllability in finite time cannot be achieved, in general.

By using concrete scenarios, we present and discuss a new concept of probabilistic Self-Stabilization in Distributed Systems.

Dijkstra’s concept of self-stabilization assumes that faults can only affect the variables of a program. We study the notion of self-stabilization if faults can also affect (i.e., augment) the program code of a system. A code stabilizing system automatically recovers from (almost) arbitrary perturbations of its program code. We prove some lower bounds for code stabilizing systems and argue that...

This paper examines price bubbles in the relatively new carbon emission trading scheme of Beijing market by employing a recently proposed econometric test which can stamp occurrence and burst financial bubbles. We find multiple over sample period between January 2014 to April 2018, that occurrences are closely related announcements environmental policies Chinese government. Comparing our result...

This paper characterizes Ramsey-optimal monetary policy in a medium-scale macroeconomic model that has been estimated to fit well postwar U.S.\ business cycles. We find that mild deflation is Ramsey optimal in the long run. However, the optimal inflation rate appears to be highly sensitive to the assumed degree of price stickiness. Within the window of available estimates of price stickiness (b...

This paper investigate the stabilization bias that arises in a model of non-cooperative monetary and fiscal policy stabilisation of the economy, when monetary authority implements price level targeting but fiscal policy remains benevolent. We demonstrate the gain in welfare improvement depends on the level of steady state debt. If the steady state level of the government debt is low, then the m...