We adhere to the concepts of Descartes, the need to apply algebraic equations directly as a final decision. The concept of wavelet signal allows to abstract from an unknown number of primes of a physical quantity. Any number of primes can be decomposed into a finite set of asymmetric wavelets...

When is it optimal for a government to default on its legal repayment obligations? We answer this question for a small open economy with domestic production risk in which contracting frictions make it optimal for the government to finance itself by issuing non-contingent debt. We show that...

When is it optimal for a government to default on its legal repayment oblig- ations? We answer this question for a small open economy with domestic production risk in which the government optimally finances itself by issuing non-contingent debt. We show that Ramsey optimal policies occasionally...