Robust Taylor rules in an open economy with heterogeneous expectations and least squares learning

The aim of this paper is threefold: (i) to investigate if there is a unique rational expectations equilibrium (REE) in the small open economy in Galí and Monacelli (2005) that is augmented with technical trading in the foreign exchange market; (ii) to investigate if the unique REE is adaptively learnable in a recursive least squares sense; and (iii) to investigate if the unique and adaptively learnable REE is desirable in an inflation rate targeting regime in the sense that a low and not too variable CPI inflation rate in equilibrium is achieved. The monetary authority is using a Taylor rule when setting the nominal interest rate, and we investigate numerically the properties of the model developed. A main conclusion is that the monetary authority should increase (decrease) the interest rate when the CPI inflation rate increases (decreases) and when the currency gets stronger (weaker) to have a desirable rule that is robust with respect to the degree of technical trading in the foreign exchange market. Thus, the value of the currency is a better response variable than the output gap in the most desirable parametrizations of the interest rate rule.determinacy; foreign exchange; inflation rate targeting regime; interest rate rule; robust monetary policy; technical trading

Authorization Framework for the Internet-of-Things

This paper describes a framework that allows fine-grained and flexible access control to connected devices with very limited processing power and memory. We propose a set of security and performance requirements for this setting and derive an authorization framework distributing processing costs between constrained devices and less constrained back-end servers while keeping message exchanges with the constrained devices at a minimum. As a proof of concept we present performance results from a prototype implementing the device part of the framework

Kairomones: Finding the fish factor

The water flea Daphnia moves to deeper waters to avoid predators when it detects a chemical produced by fish

Identifiering och bekämpning av rotröta, 2019

201

The chemical ecology of copepods

An increasing number of studies show the importance of chemical interactions in the aquatic environment. Our understanding of the role of chemical cues and signals in larger crustaceans has advanced in the last decades. However, for cope-pods, the most abundant metazoan zooplankton and essential for the functioning of the marine food web, much is still unknown. We synthesize current knowledge about chemical ecology of copepods including foraging, survival and reproduction. We also compile information on the sensory apparatus and new analytical approaches that may facilitate the identification of signal molecules. The review illustrates the importance of chemical interactions in many aspects of copepod ecology and identi-fies gaps in our knowledge, such as the lack of identified infochemicals and electro-physiological studies to confirm the function of sensory structures. We suggest approaches that are likely to further our understanding of the role of chemical inter-actions in the pelagic ecosystem

Juurikääpätuhojen tunnistaminen ja torjunta, 2019

201

GOTRIS - Göta Älv River Information Services Final report - Swedish

GOTRI