Deregulation for Development: A Tale of Two States

Economic stress led South Dakota and Delaware in the early 1980’s to eliminate their usury laws and enact other enabling legislation in an effort to attract a new industry and new jobs to their states. Sufficient time has now elapsed to assess the success of the policies adopted by these two states. Evidence suggests that both states benefited from their deregulatory actions but in different ways. These successful deregulations provide an important lesson for state-level authorities responsible for determining the regulatory environment.Regional Development, Deregulation, State Government Public Policy

The Political Economy of Wage and Price Controls: Evidence from the Nixon Tapes

On August 15, 1971, Richard Nixon imposed the first and only peacetime wage and price controls in U.S. history. The Nixon tapes, personal tape recordings made during the presidency of Richard Nixon, are now available to the public and provide a unique body of evidence to investigate the motivations for Nixon’s macroeconomic policies. We have uncovered and report in this paper evidence that Nixon manipulated both monetary and fiscal policies to create a political business cycle that helped secure his reelection victory in 1972. Nixon was very knowledgeable about economic matters and understood the risks to the economy of his macroeconomic policy actions and the imposition of wage and price controls, but chose to tradeoff longer-term economic costs to the economy for his own short-term political gain.Wage and Price Controls, Political Business Cycle, Macroeconomic Policy

Population connectivity among Dry Tortugas, Florida, and Caribbean populations of mutton snapper (Lutjanus analis), inferred from multiple microsatellite loci

Determining patterns of population connectivity is critical to the evaluation of marine reserves as recruitment sources for harvested populations. Mutton snapper (Lutjanus analis) is a good test case because the last known major spawning aggregation in U.S. waters was granted no-take status in the Tortugas South Ecological Reserve (TSER) in 2001. To evaluate the TSER population as a recruitment source, we genotyped mutton snapper from the Dry Tortugas, southeast Florida, and from three locations across the Caribbean at eight microsatellite loci. Both Fstatistics and individual-based Bayesian analyses indicated that genetic substructure was absent across the five populations. Genetic homogeneity of mutton snapper populations is consistent with its pelagic larval duration of 27 to 37 days and adult behavior of annual migrations to large spawning aggregations. Statistical power of future genetic assessments of mutton snapper population connectivity may benefit from more comprehensive geographic sampling, and perhaps from the development of less polymorphic DNA microsatellite loci. Research where alternative methods are used, such as the transgenerational marking of embryonic otoliths with barium stable isotopes, is also needed on this and other species with diverse life history characteristics to further evaluate the TSER as a recruitment source and to define corridors of population connectivity across the Caribbean and Florida

"The Political Business Cycle: New Evidence from the Nixon Tapes"

Drawing from the personal tape recordings made during the presidency of Richard Nixon, we uncover and report in this paper new evidence that Nixon manipulated Arthur Burns and the Federal Reserve Bank into creating a political business cycle that helped secure Nixon’s reelection victory in 1972. Nixon understood the risks that his desired monetary policy imposed, but chose to trade longer-term economic costs to the economy for his own short-term political benefit.Monetary Policy; Political Business Cycle

Ignition and combustion of lunar propellants

The ignition and combustion of Al, Mg, and Al/Mg alloy particles in 99 percent O2/1 percent N2 mixtures is investigated at high temperatures and pressures for rocket engine applications. The 20 micron particles contain 0, 5, 10, 20, 40, 60, 80, and 100 weight percent Mg alloyed with Al, and are ignited in oxygen using the reflected shock in a shock tube near the endwall. Using this technique, the ignition delay and combustion times of the particles are measured at temperatures up to 3250 K as a function of Mg content for oxygen pressures of 8.5, 17, and 34 atm. An ignition model is developed which employs a simple lumped capacitance energy equation and temperature and pressure dependent particle and gas properties. Good agreement is achieved between the measured and predicted trends in the ignition delay times. For the particles investigated, the contribution of heterogeneous reaction to the heating of the particle is found to be significant at lower temperatures, but may be neglected as gas temperatures above 3000 K. As little as 10 percent Mg reduces the ignition delay time substantially at all pressures tested. The particle ignition delay times decrease with increasing Mg content, and this reduction becomes less pronounced as oxidizer temperature and pressure are increased

Twisted Electromagnetic Modes and Sagnac Ring-Lasers

A new approximation scheme, designed to solve the covariant Maxwell equations inside a rotating hollow slender conducting cavity (modelling a ring-laser), is constructed. It is shown that for well-defined conditions there exist TE and TM modes with respect to the longitudinal axis of the cavity. A twisted mode spectrum is found to depend on the integrated Frenet torsion of the cavity and this in turn may affect the Sagnac beat frequency induced by a non-zero rotation of the cavity. The analysis is motivated by attempts to use ring-lasers to measure terrestrial gravito-magnetism or the Lense-Thirring effect produced by the rotation of the Earth.Comment: LaTeX 31 pages, 3 Figure

Shocked H2 and Fe+ Dynamics in the Orion Bullets

Observations of H2 velocity profiles in the two most clearly defined Orion bullets are extremely difficult to reconcile with existing steady-state shock models. We have observed [FeII] 1.644um velocity profiles of selected bullets and H2 1-0 S(1) 2.122um velocity profiles for a series of positions along and across the corresponding bow-shaped shock fronts driven into the surrounding molecular cloud. Integrated [FeII] velocity profiles of the brightest bullets are consistent with theoretical bow shock predictions. However, observations of broad, singly-peaked H2 1-0 S(1) profiles at a range of positions within the most clearly resolved bullet wakes are not consistent with molecular shock modelling. A uniform, collisionally broadened background component which pervades the region in both tracers is inconsistent with fluorescence due to the ionizing radiation of the Trapezium stars alone.Comment: 20 pages including 18 figures, published in MNRA

Efficiency considerations and the allocation of new deal funds: an examination of the public goods explanation of expenditure patterns

The uneven state-level distribution of New Deal spending has been frequently studied and a variety of economic and political models have been developed. In their article, “Does the Distribution of New Deal Spending Reflect an Optimal Provision of Public Goods?,†(Economics Bulletin, Vol. 8, No. 3, 2007. pp 1-5) Bateman and Taylor propose that much of the disparity in state-level New Deal expenditures can be explained if the creation of public goods and the spillover effects are included in economic models. Using the available wealth of data on New Deal programs, expenditures by agencies within the New Deal are examined and correlation statistics provided to test this hypothesis against the 1930 US census population density figures.New Deal, public good, spillover effects, Public Works Administration, PWA, Civil Works Administration, CWA

Incorporation of Nitrogen into Organics Produced by Fischer-Tropsch Type Chemistry

Laboratory simulations have demonstrated that hydrothermal systems have the potential to produce a range of organic compounds through Fischer-Tropsch type (FTT) chemistry. The distribution of products depends on several factors, including the abundance and composition of feed-stock molecules, reaction temperature, and the physical and chemical characteristics of catalytic materials included in the reactions. The majority of studies per-formed to date have focused solely on inclusion of CO2 or CO and H2 as the carbon, oxygen and hydrogen sources, which limits the possible products to hydro-carbons, alcohols and carboxylic acids. A few studies have included nitrogen in the form of ammonia, which led to the production of amino acids and nitrogenous bases; and a separate suite of studies included sulfur as sulfide minerals or H2S, which yielded products such as thiols and amino acids. Although these demonstrations provide compelling evidence that FTT reactions can produce compounds of interest for the origins of life, such reactions have been conducted under a very limited range of conditions and the synthetic reaction mechanisms have generally not been well-characterized. As a consequence, it is difficult to extrapolate these results to geologic systems or to evaluate how variations in reactant compositions would affect the distribution of products over time. We have begun a series of laboratory experiments that will incorporate a range of precursor molecules in varying compositions to determine how these variables affect the relative amounts and speciation of life-essential elements in organic molecules produced under FTT conditions. In the present work, we focus on systems containing C, H, O and N