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Budget-constraint admissible output consensus tracking design and analysis for the intermittent-interaction singular multiagent networks with given cost budgets are addressed in this paper. Two critical characteristics of many practical multiagent networks are focused. The first one is that the dynamics of each agent contains dynamical modes, as well as impulsive modes and static modes, and interactions among agents are intermittent. The second one is that the network is constrained by the cost budget, and the weighted design between tracking performances and energy consumptions should be guaranteed under budget constraints. Firstly, in virtue of the decomposition of observability, a new singular consensus tracking protocol with the dynamic output feedback is proposed by intermittent protocol states. Meanwhile, a cost index is constructed by considering both the tracking performance and the energy consumption. Then, criteria of budget-constraint admissible output consensus tracking analysis and design are given. By designing the gain matrices of consensus tracking protocols, not only multiagent networks with dynamical modes and static modes reach output consensus tracking while eliminating impulsive modes, but also the upper bound of the cost index can be kept within the cost budget; that is, the weighted design with the budget constraint is achieved. Finally, theoretical results are demonstrated by numerical simulations. • With the cost budget given previously, budget-constraint output consensus tracking can be achieved. • The dynamics of each agent is singular, which includes impulsive modes, static modes and dynamical modes. • The interaction among agents is intermittent. [ABSTRACT FROM AUTHOR]

The COVID-19 pandemic has completely devastated the cruise industry in the past three years. Although the cruise market has gained hope for recovery with adequate control of the COVID-19 epidemic worldwide, small outbreaks in local areas will still bring passengers and cruise lines a greater risk of ticket refunds, affecting the recovery of the cruise market. Therefore, governments and cruise lines should respond to these challenges by making adequate efforts to promote the revival of the cruise market. Using the Chinese cruise market as an example, we propose a cruise supply chain system that considers the risk of refunds and sets an upper limit for the government's subsidy budget to investigate the optimal subsidy strategy in the post-COVID-19 era. Our results show that subsidizing cruise lines is the best way to maximize market demand. However, subsidizing passengers is a better choice to prevent the Chinese cruise market from falling into the low-price dilemma. Fortunately, when the government's subsidy budget is not high, and the epidemic situation is optimistic (i.e., the risk of refund is low), if the brand advantage of the international cruise is high enough, subsidizing the cruise line can ensure the healthy development of the cruise market while expanding market demand more effectively. This conclusion will guide the transformation and upgrading of the Chinese cruise market. • Ticket refund risk brought by the COVID-19 is emerged in the model. • Government budget constraints is considered in the model. • Subsidizing cruise lines is always the best to expand the demand. • To avoid the low-price dilemma, subsidizing passengers is always the best. • There exits the Win-Win area to maximize the demand and avoid the low-price dilemma. [ABSTRACT FROM AUTHOR]

Copyright of Revue Economique is the property of Fondation Nationale des Sciences Politiques and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Fiscal decentralization brings certain economic benefits, but also meets certain inconveniences. If the process of decentralization is realized in the mode, that the decentralization of expenditure and decentralization of revenue are divided, the success of its implementation is endangered. Excessive expenditure decentralization without adequate decentralization of revenues creates a gap, which is under the soft-budget constraints conditions completed by intergovernmental transfers. Intergovernmental transfers present a move of public financial resources from central level of government to local levels of government creating vertical fiscal imbalance. The theory is not clear about the eligibility of soft-budget constraints and vertical fiscal imbalance. The economic reality supports their existence and considers them as an integral part of local resources. In this paper vertical fiscal imbalances in the EU countries are analyzed. Using the panel regression with time effects for a sample of new and old EU member states, determinants of vertical fiscal imbalance are identified. Significant negative effect of public deficit and revenue decentralization is observed in all two samples. The impact of time effects differs according to the sample. This paper is published within the project VEGA no.1/0559/16. [ABSTRACT FROM AUTHOR]

Motivated by the contradiction between a government's hard budget constraints and artificial intelligence, this study constructs a computable general equilibrium model embedded with various fiscal and tax policies to study the impact of artificial intelligence development on the Chinese economy under government budget constraints with different intensities. This paper seeks to find a reasonable policy that takes into account China's employment, income distribution, and budget constraints to achieve common prosperity. It finds that the softer the government's budget constraints, the smaller the negative impact of artificial intelligence on the economy. More specifically, allowing the government to increase its debts and spending is more effective than tax cuts. It is suggested that if the goal is to reconcile the contradiction between hard budget constraints and artificial intelligence, fiscal and tax policy combinations, together with an improvised soft budget constraint, are required to increase the taxation of capital to an appropriate degree. In order to resolve the contradiction between the government's hard budget constraints and the development of artificial intelligence in pursuit of common prosperity, a robot tax should be levied and automation capital taxed. • The softer the government budget constraints, the smaller the negative impact of artificial intelligence on the economy. • Allowing the government to increase its debts and spending is more effective than tax cuts. • A robot tax should be levied and automation capital taxed. [ABSTRACT FROM AUTHOR]

Copyright of Economía del Caribe is the property of Fundacion Universidad del Norte and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In contrast to providing standard reminders about remembering household budgets, does asking survey respondents about their discretionary income and its use affect their voting responses in a national advisory referendum survey? We explore this question using U.S. household data from a unique set of multi-mode random samples (telephone and Internet surveys), and an advisory referendum concerning the Kyoto Protocol. The contingent valuation method is applied to estimate household willingness to pay (WTP) for a split-sample treatment: respondents who only received a standard reminder of household budgets (control group) versus respondents who received two mental accounting-type questions on discretionary income and its uses (treatment group). Results indicate that the treatment significantly influences voting responses and lowers estimated household WTP. [ABSTRACT FROM AUTHOR]