Solving DSGE Models with a Nonlinear Moving Average

We introduce a nonlinear infinite moving average as an alternative to the standard state-space policy function for solving nonlinear DSGE models. Perturbation of the nonlinear moving average policy function provides a direct mapping from a history of innovations to endogenous variables, decomposes the contributions from individual orders of uncertainty and nonlinearity, and enables familiar impulse response analysis in nonlinear settings. When the linear approximation is saddle stable and free of unit roots, higher order terms are likewise saddle stable and first order corrections for uncertainty are zero. We derive the third order approximation explicitly and examine the accuracy of the method using Euler equation tests.Perturbation, nonlinear impulse response, DSGE, solution methods

Multiplicity fluctuation and correlation of mesons and baryons in ultra-relativistic heavy-ion collisions at LHC

We study the multiplicity fluctuation and correlation of identified mesons and baryons formed at the hadronization by the quark combination mechanism in the context of ultra-relativistic heavy-ion collisions. Based on the statistical method of free quark combination, we derive the two-hadron multiplicity correlations such as meson-meson and meson-baryon correlations, and take the effects of quark number fluctuation at hadronization into account by a Taylor expansion method. After including the decay contributions, we calculate the dynamical fluctuation observable $\nu_{dyn}$ for $\text{K}\pi$, $p\pi$ and $\text{K}p$ pairs and discuss what underlying physics can be obtained by comparing with the data in Pb-Pb collisions at $\sqrt{s_{NN}}=2.76$ TeV and the simulations from HIJING and AMPT event generators.Comment: 8 pages, 3 figure

New feature of low pTp_{T} charm quark hadronization in pppp collisions at s=7\sqrt{s}=7 TeV

Treating the light-flavor constituent quarks and antiquarks that can well describe the data of light-flavor hadrons in $pp$ collisions at $\sqrt{s}=7$ TeV as the underlying source of chromatically neutralizing the charm quarks of low transverse momenta ($p_{T}$), we show that the experimental data of $p_{T}$ spectra of single-charm hadrons $D^{0,+}$, $D^{*+}$ $D_{s}^{+}$, $\Lambda_{c}^{+}$ and $\Xi_{c}^{0}$ at mid-rapidity in the low $p_{T}$ range ($2\lesssim p_{T}\lesssim7$ GeV/$c$) in $pp$ collisions at $\sqrt{s}=7$ TeV can be well understood by the equal-velocity combination of perturbatively-created charm quarks and those light-flavor constituent quarks and antiquarks. This suggests a possible new scenario of low $p_{T}$ charm quark hadronization, in contrast to the traditional fragmentation mechanism, in $pp$ collisions at LHC energies. This is also another support for the exhibition of the effective constituent quark degrees of freedom for the small parton system created in $pp$ collisions at LHC energies.Comment: 7 pages, 5 figure

Existence and Uniqueness of Perturbation Solutions to DSGE Models

We prove that standard regularity and saddle stability assumptions for linear approximations are sufficient to guarantee the existence of a unique solution for all undetermined coefficients of nonlinear perturbations of arbitrary order to discrete time DSGE models. We derive the perturbation using a matrix calculus that preserves linear algebraic structures to arbitrary orders of derivatives, enabling the direct application of theorems from matrix analysis to prove our main result. As a consequence, we provide insight into several invertibility assumptions from linear solution methods, prove that the local solution is independent of terms first order in the perturbation parameter, and relax the assumptions needed for the local existence theorem of perturbation solutions.Perturbation, matrix calculus, DSGE, solution methods, Bézout theorem; Sylvester equations