Growth under Exchange Rate Volatility: Does Access to Foreign or Domestic Equity Markets Matter?

Employing a matched employer-employee dataset, this paper explores the effects of exchange rate volatility on the growth performances of domestic versus foreign, and publicly traded versus non-traded private manufacturing firms in a major developing country, Turkey. The empirical results using dynamic panel data estimation techniques and comprehensive robustness tests suggest that exchange rate volatility has a significant growth reducing effect on manufacturing firms. However, having access to foreign, and to a lesser degree, domestic equity markets is found to reduce these negative effects at significant levels. These findings continue to hold after controlling for firm heterogeneity due to differences in export orientation, external indebtedness, profitability, productivity, size, industrial characteristics, and time-variant institutional changes

Deterministic construction of arbitrary WW states with quadratically increasing number of two-qubit gates

We propose a quantum circuit composed of $cNOT$ gates and four single-qubit gates to generate a $W$ state of three qubits. This circuit was then enhanced by integrating two-qubit gates to create a $W$ state of four and five qubits. After a couple of enhancements, we show that an arbitrary $W$ state can be generated depending only on the degree of enhancement. The generalized formula for the number of two-qubit gates required is given, showing that an $n$-qubit $W$-state generation can be achieved with quadratically increasing number of two-qubit gates. Also, the practical feasibility is discussed regarding photon sources and various applications of $cNOT$ gates

Planar Contact Structures with Binding Number Three

In this article, we find the complete list of all contact structures (up to isotopy) on closed three-manifolds which are supported by an open book decomposition having planar pages with three (but not less) boundary components. We distinguish them by computing their first Chern classes and three dimensional invariants (whenever possible). Among these contact structures we also distinguish tight ones from those which are overtwisted.Comment: 35 pages, 19 figures, 9 tables (published version

On the support genus of a contact structure

The algorithm given by Akbulut-Ozbagci constructs an explicit open book decomposition on a contact three-manifold described by a contact surgery on a link in the three-sphere. In this article, we will improve this algorithm by using Giroux's contact cell decomposition process. Our algorithm is more economical on choosing the supporting genus of the open book; in particular it gives a good upper bound for the recently defined ``minimal supporting genus invariant'' of contact structures.Comment: 20 pages, 13 figures, title shorthened, minor correction