Explaining exchange rate behavior : an augmented version of the monetary approach

An abstract of this article is not available.Foreign exchange rates ; Monetary policy

The forecast performance of alternative models of inflation

It is inappropriate to ignore the behavior of money in explaining the generation and evolution of aggregate inflation over time. It is shown that over the period 1977 to 1987 an inflation model based on M2 demand describes more accurately the actual behavior of inflation than an expectations-augmented version of the Phillips curve.Inflation (Finance) ; Money supply ; Forecasting

Self-Dual Chiral Boson: Augmented Superfield Approach

We exploit the standard tools and techniques of the augmented version of Bonora-Tonin (BT) superfield formalism to derive the off-shell nilpotent and absolutely anticommuting (anti-)BRST and (anti-)co-BRST symmetry transformations for the Becchi-Rouet-Stora-Tyutin (BRST) invariant Lagrangian density of a self-dual bosonic system. In the derivation of the full set of the above transformations, we invoke the (dual-)horizontality conditions, (anti-)BRST and (anti-)co-BRST invariant restrictions on the superfields that are defined on the (2, 2)-dimensional supermanifold. The latter is parameterized by the bosonic variable x^\mu\,(\mu = 0,\, 1) and a pair of Grassmanian variables \theta and \bar\theta (with \theta^2 = \bar\theta^2 = 0 and \theta\bar\theta + \bar\theta\theta = 0). The dynamics of this system is such that, instead of the full (2, 2) dimensional superspace coordinates (x^\mu, \theta, \bar\theta), we require only the specific (1, 2)-dimensional super-subspace variables (t, \theta, \bar\theta) for its description. This is a novel observation in the context of superfield approach to BRST formalism. The application of the dual-horizontality condition, in the derivation of a set of proper (anti-)co-BRST symmetries, is also one of the new ingredients of our present endeavor where we have exploited the augmented version of superfield formalism which is geometrically very intuitive.Comment: LaTeX file, 27 pages, minor modifications, Journal reference is give

Systematic characterization of thermodynamic and dynamical phase behavior in systems with short-ranged attraction

In this paper we demonstrate the feasibility and utility of an augmented version of the Gibbs ensemble Monte Carlo method for computing the phase behavior of systems with strong, extremely short-ranged attractions. For generic potential shapes, this approach allows for the investigation of narrower attractive widths than those previously reported. Direct comparison to previous self-consistent Ornstein-Zernike approximation calculations are made. A preliminary investigation of out-of-equilibrium behavior is also performed. Our results suggest that the recent observations of stable cluster phases in systems without long-ranged repulsions are intimately related to gas-crystal and metastable gas-liquid phase separation.Comment: 10 pages, 8 figure

Does Defence Spending Stimulate Economic Growth in India?

The aim of present is to reinvestigate the effect of defence spending on economic growth using Zivot and Andrews (1992) and Lee and Strazicich, (2003) structural unit root tests and ARDL bounds testing approach to cointegration in augmented version of Keynesian model for Indian economy. Our analysis confirmed long run relationship between the variables and, results indicated positive effect of defence spending on economic growth (also negative impact after a threshold point). Investment and trade openness stimulate economic growth while economic growth is inversely affected by interest rate. Granger causality analysis showed bidirectional causal relationship between defence spending and economic growth as probed by variance decomposition approach.Defence Spending, Economic Growth, Cointegration