Related papers: Stability in EMU
Many-to-one matching markets exist in numerous different forms, such as college admissions, matching medical interns to hospitals for residencies, assigning housing to college students, and the classic firms and workers market. In all these…
The sustainability of cooperation is crucial for understanding the progress of societies. We study a repeated game in which individuals decide the share of their income to transfer to other group members. A central feature of our model is…
Stablecoins are one of the most widely capitalized type of cryptocurrency. However, their risks vary significantly according to their design and are often poorly understood. We seek to provide a sound foundation for stablecoin theory, with…
A type of scenario is considered where electrically charged vacuum bubbles, formed from degenerate or nearly degenerate vacuua separated by a thin domain wall, are cosmologically produced due to the breaking of a discrete symmetry, with the…
Is an option to early terminate a swap at its market value worth zero? At first sight it is, but in presence of counterparty risk it depends on the criteria used to determine such market value. In case of a single uncollateralised swap…
Economic systems play pivotal roles in the metaverse. However, we have not yet found an overview that systematically introduces economic systems for the metaverse. Therefore, we review the state-of-the-art solutions, architectures, and…
A structural element is designed and investigated, forming the basis for the development of an elastic multistable metamaterial. The leitmotif of the structural design is the implementation of a strut characterized by a bifurcation…
The division of mandates to the European Parliament posed difficulties since the beginning of its operation. Introduction of the degressive proportionality principle to legal acts intensified further discussion on this subject. The…
The multi-chain future is upon us. Modular architectures are coming to maturity across the ecosystem to scale bandwidth and throughput of cryptocurrency. One example of such is the Ethereum modular architecture, with its beacon chain, its…
In an incomplete semimartingale model of a financial market, we consider several risk-averse financial agents who negotiate the price of a bundle of contingent claims. Assuming that the agents' risk preferences are modelled by convex…
Market-based coordination of demand side assets has gained great interests in recent years. In spite of its efficiency, there is a risk that the interaction between the dynamic assets through the price signal could result in an unstable…
Stablecoins, with a capitalization exceeding 200 billion USD as of January 2025, have shown significant growth, with annual transaction volumes exceeding 10 trillion dollars in 2023 and nearly doubling that figure in 2024. This exceptional…
This paper studies matching markets where institutions are matched with possibly more than one individual. The matching market contains some couples who view the pair of jobs as complements. First, we show by means of an example that a…
The purpose of this dissertation is to present an overview of the operational and financial performance of airports in Europe. In benchmarking studies, airports are assessed and compared with other airports based on key indicators from a…
Well-posedness of a free boundary problem for electrostatic microelectromechanical systems (MEMS) is investigated when nonlinear bending effects are taken into account. The model describes the evolution of the deflection of an electrically…
We study risk-sharing economies where heterogenous agents trade subject to quadratic transaction costs. The corresponding equilibrium asset prices and trading strategies are characterised by a system of nonlinear, fully-coupled…
The stability analysis of socioeconomic systems has been centered on answering whether small perturbations when a system is in a given quantitative state will push the system permanently to a different quantitative state. However, typically…
In this paper we aim to present two general results regarding, on one hand, the openness stability of set-valued maps and, on the other hand, the metric regularity behavior of the implicit multifunction related to a generalized variational…
We study Tao's finitary viewpoint of convergence in metric spaces, as captured by the notion of metastability. We adopt the perspective of continuous model theory. We show that, in essence, metastable convergence with a given rate is the…
Do governments adjust budgetary policy to rising public debt, precluding fiscal unsustainability? Using budget data for 52 industrial and emerging economies since 1990, we apply panel methods accounting for cross-sectional dependence and…