Local Electronic Structure and High Temperature Superconductivity

It is argued that a new mechanism and many-body theory of superconductivity are required for doped correlated insulators. Here we review the essential features of and the experimental support for such a theory, in which the physics is driven by the kinetic energy.Comment: 8 Pages Latex. For the Proceedings of HTS99, Miami, FL, Jan. 199

Symmetries of the Chern-Simons Theory in the Axial Gauge, Manifold with Boundary

The field equations of the Chern-Simons theory quantized in the axial gauge are shown to be completely determined by supersymmetry Ward identities which express the invariance of the theory under the topological supersymmetry of Delduc, Gieres and Sorella together with the usual Slavnov identity without requiring any action principle.Comment: 8 pages LaTeX, report UGVA-DPT 1994/01-84

The algebra of price stability

Prices

The federal funds rate as an indicator of monetary policy: evidence from the 1980s

Recently, several economists have argued that movements in the federal funds rate are a good proxy for changes in monetary policy. In this article, Nathan Balke and Kenneth Emery critically examine this view and the evidence supporting it. Using simple vector autoregressions, they find that before 1980 the correlations between the federal funds rate and other important macroeconomic variables are consistent with a traditional monetary policy interpretation of the federal funds rate. However, they show that after 1982 the relationships between the federal funds rate and other macroeconomic variables change significantly. Most important, the correlations between the federal funds rate and other macroeconomic variables observed during the 1980s are not as consistent with a traditional monetary policy view of the federal funds rate as they were before 1980. ; Balke and Emery's work highlights how relationships between important macroeconomic variables can change when institutions or policy regimes change. While the federal funds rate may still be a good indicator of monetary policy, its relationship with other important macroeconomic variables is now clearly different from what it was before 1980.Interest rates ; Economic indicators

The three-dimensional BF Model with Cosmological Term in the Axial Gauge

We quantize the three-dimensional $BF$-model using axial gauge conditions. Exploiting the rich symmetry-structure of the model we show that the Green-functions correspond to tree graphs and can be obtained as the unique solution of the Ward-Identities. Furthermore, we will show that the theory can be uniquely determined by symmetry considerations without the need of an action principle.Comment: one reference added, transmission errors correcte

Five-Dimensional BF Theory and Four-Dimensional Current Algebra

We consider the relation between the five-dimensional BF model and a four-dimensional local current algebra from the point of view of perturbative local quantum field theory. We use an axial gauge fixing procedure and show that it allows for a well defined theory which actually can be solved exactly.Comment: 15 pages LaTeX file +3 Figures in TexDraw (available from hep-th) LATEX-compatibility Bug fixe