This paper provides a quantitative assessment of equity options priced at the Zero Lower Bound, i.e., when interest rates are set essentially to zero. We obtain closed form formulas for American options when the Zero Lower Bound policy holds. We perf...
To broaden the operational scope of monetary policy, several authors suggest cash abolition as an appropriate means of breaking through the zero lower-bound. We argue that the welfare costs of bypassing the zero lower-bound by getting rid of cash ent...
After the 2007 financial crisis, many central banks adopted policies to lower their interest rates; the dynamics of these rates cannot be captured using classical models. Recently, Meucci and Loregian proposed an approach to estimate nonnegative inte...
In the short time to maturity limit, it is proved that for the conditionally lognormal SABR model the zero vanna implied volatility is a lower bound for the volatility swap strike. The result is valid for all values of the correlation parameter and i...
In the present paper, we investigate the financial homogeneity of the euro area economies by contrasting eurozone countries’ responses to monetary policy steps to the theoretical assumptions of the liquidity trap phenomenon. Our assumption is t...
This study investigates the impact of central bank digital currencies (CBDCs) on monetary policy flexibility, the effective lower bound (ELB), and negative interest rate policies (NIRPs), specifically in the case of the digital euro (DE). Through a c...
The distance between successive zeros of all solutions of first-order differential equations with several delays is studied in this work. Many new estimations for the upper bound of the distance between zeros are obtained. Our results improve many-we...
We consider the constrained ordered weighted averaging (OWA) aggregation problem with a single constraint and lower bounded variables. For the three-dimensional constrained OWA aggregation problem with lower bounded variables, we present four types o...
The channel reliability function is a crucial tool for characterizing the dependable transmission of messages across communication channels. In many cases, the only upper and lower bounds of this function are known. We investigate the computability o...
In this paper, we consider techniques for establishing lower bounds on the number of arm pulls for best-arm identification in the multi-armed bandit problem. While a recent divergence-based approach was shown to provide improvements over an older gap...
The paper contributes to stabilization problems of linear systems subject to time-varying delays. Drawing upon small gain criteria and robust analysis techniques, upper and lower bounds on the largest allowable time-varying delay are developed by usi...
The explicit form of the rate-distortion function has rarely been obtained, except for few cases where the Shannon lower bound coincides with the rate-distortion function for the entire range of the positive rate. From an information geometrical poin...
This paper applies two different types of Riemann–Liouville derivatives to solve fractional differential equations of second order. Basically, the properties of the Riemann–Liouville fractional derivative depend mainly on the lower bound...
The capacity region of a two-transmitter Gaussian multiple access channel (MAC) under average input power constraints is studied, when the receiver employs a zero-threshold one-bit analogue-to-digital converter (ADC). It is proven that the input dist...
The reliability function of variable-rate Slepian-Wolf coding is linked to the reliability function of channel coding with constant composition codes, through which computable lower and upper bounds are derived. The bounds coincide at rates close to...
Landauer’s principle provides a fundamental lower bound for energy dissipation occurring with information erasure in the quantum regime. While most studies have related the entropy reduction incorporated with the erasure to the lower bound (ent...
Based on the geometry of a radial function, a sequence of approximations for arcsine, arccosine and arctangent are detailed. The approximations for arcsine and arccosine are sharp at the points zero and one. Convergence of the approximations is prove...
In this paper, we introduce the zero-delay multiple-description problem, where an encoder constructs two descriptions and the decoders receive a subset of these descriptions. The encoder and decoders are causal and operate under the restriction of ze...
This paper studies a class of two-player all-pay contests with externalities that encompass a general version of duopoly price competition. This all-pay contest formulation puts little restriction on production technologies, demand, and demand ration...
Let H be a graph of order n with m edges. Let di=d(vi) be the degree of the vertex vi. The extended adjacency matrix Aex(H) of H is an n×n matrix defined as Aex(H)=(bij), where bij=12didj+djdi, whenever vi and vj are adjacent and equal to zero...
Quantum Parameter Estimation (QPE) is commonly led using quantum probe states for the characterization of quantum systems. For these purposes, Quantum Fisher Information (QFI) plays a crucial role by imposing a lower bound for the parametric estimati...
In this correspondence, we investigate the covering radius of various types of repetition codes over Z p k ( k ≥ 2 ) with respect to the Lee distance. We determine the exact covering radius of the various repetition codes, which have...
A private compression design problem is studied, where an encoder observes useful data Y, wishes to compress them using variable-length code, and communicates them through an unsecured channel. Since Y are correlated with the private attribute X, the...
Mastermind is a two players zero sum game of imperfect information. Starting with Erdős and Rényi (1963), its combinatorics have been studied to date by several authors, e.g., Knuth (1977), Chvátal (1983), Goodrich (2009). The first player, called “c...
We show that the derivative of the relative entropy with respect to its parameters is lower and upper bounded. We characterize the conditions under which this derivative can reach zero. We use these results to explain when the minimum relative entrop...
Let K be a finite extension of ℚ and let S = {ν} denote the collection of K normalized absolute values on K. Let V K + denote the additive group of adeles over K and let c : V K + → ℝ ≥0 denote the content map defined as c( { a...
Given several nonnegative matrices with a single pattern of allocation among their zero/nonzero elements, the average matrix should have the same pattern, too. This is the first tenet of the pattern-multiplicative average (PMA) concept, while the sec...
Suppose that G is a graph over n vertices. G has n eigenvalues (of adjacency matrix) represented by λ1,λ2,⋯,λn. The Gaussian Estrada index, denoted by H(G) (Estrada et al., Chaos 27(2017) 023109), can be defined as H(G)=∑i=1n...
Hulls of linear codes have been extensively studied due to their wide applications and links with the efficiency of some algorithms in coding theory. In this paper, the average dimension of the Euclidean hull of negacyclic codes of length n over fini...
The existence of Fano resonances in dynamic resonant tunneling (RT) systems has been investigated. Fano resonances are characterized by the appearance of a 100% reflection coefficient in proximity to a high transmission coefficient. For a Fano resona...
Analyzing general uncertainty relations one can find that there can exist such pairs of non-commuting observables A and B and such vectors that the lower bound for the product of standard deviations ΔA and ΔB calculated for these vectors...
The issue of the robust exponential passivity analysis for uncertain neutral-type neural networks with mixed interval time-varying delays is discussed in this work. For our purpose, the lower bounds of the delays are allowed to be either positive or...
Due to the existence of time-varying chaotic disturbances in complex applications, the chaotic synchronization of sensor systems becomes a tough issue in industry electronics fields. To accelerate the synchronization process of chaotic sensor systems...
A class of heterogeneous second-order multi-agent consensus problems is studied, in which an event-triggered method is used to improve the feasibility of the control protocol. The sliding mode control method is used to achieve the robustness of the s...
The paper presents an event-triggered higher-order sliding mode controller design. The event-triggering technique is the alternative approach to real-time controller execution, unlike the classic time-triggering technique, which is not time-dependabl...
Pineapple leaf fiber (PALF), striped sunflower seed fiber (SFSF), and watermelon seed (WMS) are considered natural waste polymer materials, which are biodegradable and sustainable. This study presents new novel thermal insulation and sound absorption...
We consider a two party network where each party wishes to compute a function of two correlated sources. Each source is observed by one of the parties. The true joint distribution of the sources is known to one party. The other party, on the other ha...
A flexible extended Krylov subspace method (F-EKSM) is considered for numerical approximation of the action of a matrix function f(A) to a vector b, where the function f is of Markov type. F-EKSM has the same framework as the extended Krylov subspace...
For a graph G without isolated vertices, the inverse degree of a graph G is defined as I D ( G ) = ∑ u ∈ V ( G ) d ( u ) − 1 where d ( u ) is the number of vertices adjacent to the vertex u in G. By replacin...
This paper introduces a new econometric framework for modeling fractional outcomes bounded between zero and one. We propose the Fractional Probit with Cross-Sectional Volatility (FPCV), which specifies the conditional mean through a probit link and a...
The application of the Maximum Entropy (ME) principle leads to a minimum of the Mutual Information (MI), I(X,Y), between random variables X,Y, which is compatible with prescribed joint expectations and given ME marginal distributions. A sequence of s...
This paper addresses the issue of optimal redundancy allocation in hybrid structure large binary systems. Two aspects of optimization are considered: (1) maximizing the reliability of the system under the cost constraint, and (2) obtaining the necess...
In this paper, we propose the zero-correlation-zone (ZCZ) of radius r on two-dimensional m×n sonar sequences and define the (m,n,r) ZCZ sonar sequences. We also define some new optimality of an (m,n,r) ZCZ sonar sequence which has the largest r...
Hybrid trolleybuses (HTBs) with in-motion charging (IMC) can extend zero-emission service using existing catenary, but high on-wire charging powers may concentrate loads and accelerate battery aging. We present a data-driven simulation that replays r...
Lumbar spine Magnetic Resonance Imaging (MRI) is commonly used for intervertebral disc (IVD) and vertebral body (VB) evaluation during low back pain. Segmentation of these tissues can provide useful quantitative information such as shape and volume....
This paper proposes the preliminary results on a novel control architecture based on model predictive control (MPC) for cable-driven parallel robots (CDPRs) and applies them to a three degrees of freedom (3-DOF) robot with a suspended configuration,...
This paper studies the global asymptotic regulation problem for a class of lower-triangular nonlinear systems with actuator failures and limited delays. New integral controllers consisting of an integral dynamic are constructed to make all system sta...
We consider the rate distortion problem with side information at the decoder posed and investigated by Wyner and Ziv. Using side information and encoded original data, the decoder must reconstruct the original data with an arbitrary prescribed distor...
A D-dimensional Einstein–Gauss–Bonnet model with a cosmological term Λ , governed by two non-zero constants: α 1 and α 2 , is considered. By restricting the metrics to diagonal ones, we study a class...
This paper models the foreign exchange intervention policy following the Rayleigh process derived from the standard flexible-price monetary framework. The exchange rate dynamics associated with the interventions are more sensitive to the change in th...
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