Accuracy and range of validity of the Wigner surmise for mixed symmetry classes in random matrix theory

Schierenberg et al. [Phys. Rev. E 85, 061130 (2012)] recently applied the Wigner surmise, i.e., substitution of \infty \times \infty matrices by their 2 \times 2 counterparts for the computation of level spacing distributions, to random matrix ensembles in transition between two universality classes. I examine the accuracy and the range of validity of the surmise for the crossover between the Gaussian orthogonal and unitary ensembles by contrasting them with the large-N results that I evaluated using the Nystrom-type method for the Fredholm determinant. The surmised expression at the best-fitting parameter provides a good approximation for 0 \lesssim s \lesssim 2, i.e., the validity range of the original surmise.Comment: 3 pages in REVTeX, 10 figures. (v2) Title changed, version to appear in Phys. Rev.

Relationship between the yen carry trade and the related financial variables

Recently, the yen carry trade has been focused on the international financial market. However, there are few empirical studies on the yen carry trade. This paper investigates the relationship between the yen carry trade and the related financial variables in the US and Japan by the structural vector autoregression (SVAR) model. Our estimation results show that the US stock price has a dominant impact on the activity of the speculative yen carry trade. On the other hand, we found that the interest rate differential between Japan and the US does not have a significant impact on the movement of the carry trade. This result shows that the Bank of JapanÂfs (BOJ) raising the key rate may not make the yen carry trade less attractive. Our results also indicate that if the carry trade unwinds, the depreciation of the dollar against the yen will take place.

The impact of the appreciation of East Asian currencies on global imbalance

Recently, the global current account imbalance has received considerable attention in the international financial market. In this paper, we focus on the relationship between US and East Asia from the perspective of the trade balance and examine whether the appreciation of East Asian currencies against the dollar would affect the respective outputs of East Asia and the US or be effective in reducing the global imbalance. There are few empirical studies directly focused on the trade and output between the US and East Asia. Our empirical results suggest that currency appreciation is expansionary for East Asian economies and will increase the East Asian output, which will contribute to the reduction in US trade deficits.

Are the fiscal and monetary policies of the G-7 countries effective in decreasing the U.S. trade deficit?

The U.S. trade deficit is a major concern for the G-7 countries. However, it is unclear whether their fiscal and monetary policies are effective in this regard. We examine the relationship between the U.S. trade balance and the G-7 countriesÂf policy variables by constructing an eight-dimensional version of the structural vector autoregression (SVAR) model. Our empirical results suggest that a reduction in the U.S. fiscal deficit is not such a reliable instrument for reducing the U.S. trade imbalance. Contrastingly, monetary tightening in the U.S. can reduce its trade deficit. Non-U.S. policy shocks are ineffective, while decline in the U.S. dollar plays an important role in reducing the U.S. trade deficit.

The Impact of a Net Increase in Japanese Investment in Foreign Assets on the Yen Rate

The yenÂ's value on a real effective exchange rate basis has already fallen to its lowest level since the 1985 Plaza Accord. In particular, Japanese retail investors have recently tried to diversify their portfolio by purchasing higher-yielding assets denominated in a foreign currency through investment trust funds. In this paper, we examine the effect of a net increase in the foreign investment by Japanese investors on the exchange rate by using the structural vector autoregression (SVAR) method. Our empirical results suggest that a net increase in the investments by Japanese investors can significantly depreciate the yen rate. Moreover, we found that the main factor responsible for the movements of the yen rate against the dollar is demand shock. This result implies that the main reason for the depreciation of the yen is the weak Japanese demand. If the Japanese domestic demand expands further, the yen rate will appreciate more.

Applied Fiber Optic Measurement for Geohydraulic Engineering

Engineers have long sought the possibility of measuring parameters such as temperature and pressure continuously in the underground with high precision, high spatial resolution and high band width of parameters. Distributed fibre optic measurement offers the use of a very fast, robust, precise, light and small gauges with an high spatial resolution. In this paper we would like to compile fibre-optic measure-methods which are available now for projects in geohydraulical engineering. This paper will propose new problems for future research work on parameter identification for such parameters as conductivity and anisotropy