# Carlo Strub

## Hardening FreeBSD

Some things to remember – unfortunately far from being complete.

## Secure Communication via Tor

Tor allows you to surf anonymously. It can be used not only for normal HTTP traffic but for SSH connections as well. The following is a quick installation guide.

## Envelope Theorems for Non-Smooth and Non-Concave Optimization (2012, with A. Clausen)

We study general dynamic programming problems with continuous and discrete choices and general constraints. The value functions may have kinks arising (1) at indifference points between discrete choices and (2) at constraint boundaries. Nevertheless, we establish a general envelope theorem: first-order conditions are necessary at interior optimal choices. We only assume differentiability of the utility function with respect to the continuous choices. The continuous choice may be from any Banach space and the discrete choice from any non-empty set.

## Bank Deposits and Credit in General Equilibrium (2009)

We present a general equilibrium model of money with bank deposits and credit. Banks have two roles: first they act as safe-keepers of agents’ values, second they act as transaction operators because they are able to identify agents. We show that there exists an equilibrium where money co-exists with bank deposits although interest rates payed on deposits are positive. Further, we compare our model to the basic framework where banks only act as safe-keepers and are not allowed to issue loans.

## Central Bank Design with Heterogeneous Agents (2009, with A. Berentsen)

We study alternative institutional arrangements for the determination of monetary policy in a general equilibrium model with heterogeneous agents, where monetary policy has redistributive effects. Inflation is determined by a policy board using either simple-majority voting, supermajority voting, or bargaining. We compare the equilibrium inflation rates to the first-best allocation.