9,938 research outputs found
The admission of accession countries to an enlarged monetary union: a tentative assessment
The enlargement of the European monetary union to include the accession countries (ACs) will not lead to higher average inflation in the enlarged euro area, but only to inflation redistribution across countries if continuity of the monetary policy framework is preserved. In the short term, unanticipated shocks to the real exchange rate may instead affect aggregate inflation if member countries' economic structure differs. When comparing welfare, inflation and output stabilisation, we find that the size, differences in economic structure and the variance-covariance matrix of supply and real exchange rate shocks play a key role. The numerical results indicate that the implications for the euro area are significant only if we assume a strong real exchange rate appreciation and if ACs are weighted in terms of purchasing power parity standards. In the event of real exchange rate or country-specific supply shocks in ACs, the consequences would be limited for both the current and the enlarged euro area, but sizeable for ACs themselves. JEL Classification: E52, E58, F33, F40Accession Countries, Balassa-Samuelson Effect, European Monetary Union, Exchange Rate Regimes, monetary policy
The Eastward Enlargement of the European Monetary Union
The enlargement of the European monetary union to include new EU Member States (NMs) will not lead to higher expected inflation in the enlarged euro area, but only to some redistribution of inflation at the country level, if the policy framework of the monetary authority remains invariant. Shocks to the real exchange rate may affect instead aggregate inflation, if member countries' economic structure differs. The numerical results indicate that the impact on steady state inflation of the current euro area is limited if participating countries are weighted on the basis of nominal GDP and if the upward pressure on the real exchange rate is postulated to be in line with most estimates of the Balassa-Samuelson effect. In the event of real exchange rate or country-specific supply shocks in NMs, the consequences are found to be limited for the current and the enlarged euro area, but sizeable for the NMs themselves.EMU; enlargement; East-Central Europe
Slow dynamics in a primitive tetrahedral network model
We report extensive Monte Carlo and event-driven molecular dynamics
simulations of the fluid and liquid phase of a primitive model for silica
recently introduced by Ford, Auerbach and Monson [J. Chem. Phys. 17, 8415
(2004)]. We evaluate the iso-diffusivity lines in the temperature-density plane
to provide an indication of the shape of the glass transition line. Except for
large densities, arrest is driven by the onset of the tetrahedral bonding
pattern and the resulting dynamics is strong in the Angell's classification
scheme. We compare structural and dynamic properties with corresponding results
of two recently studied primitive models of network forming liquids -- a
primitive model for water and a angular-constraint free model of
four-coordinated particles -- to pin down the role of the geometric constraints
associated to the bonding. Eventually we discuss the similarities between
"glass" formation in network forming liquids and "gel" formation in colloidal
dispersions of patchy particles.Comment: 9 pages, 10 figure
Welfare implications of joining a common currency
This paper examines the welfare implications of a country joining a currency union as opposed to operating in a flexible exchange rate regime. At the country level, the suboptimal response to domestic and foreign shocks and the inability of setting inflation at the desired level may be offset by a positive impact on potential output. We show that for entry to be welfare enhancing, the potential output gain must be the larger, the smaller the country, the larger the difference between the standard deviation of supply shocks across the participating countries, the smaller the correlation of countries’ supply shocks and the larger the variance of real exchange rate shocks. JEL Classification: E52, E58, F33, F40Balassa-Samuelson Effect, Currency union, monetary policy, Welfare
Alx1, a member of the Cart1/Alx3/Alx4 subfamily of Paired-class homeodomain proteins, is an essential component of the gene network controlling skeletogenic fate specification in the sea urchin embryo
In the sea urchin embryo, the large micromeres and their progeny function as a critical signaling center and execute a complex morphogenetic program. We have identified a new and essential component of the gene network that controls large micromere specification, the homeodomain protein Alx1. Alx1 is expressed exclusively by cells of the large micromere lineage beginning in the first interphase after the large micromeres are born. Morpholino studies demonstrate that Alx1 is essential at an early stage of specification and controls downstream genes required for epithelial-mesenchymal transition and biomineralization. Expression of Alx1 is cell autonomous and regulated maternally through ß-catenin and its downstream effector, Pmar1. Alx1 expression can be activated in other cell lineages at much later stages of development, however, through a regulative pathway of skeletogenesis that is responsive to cell signaling. The Alx1 protein is highly conserved among euechinoid sea urchins and is closely related to the Cart1/Alx3/Alx4 family of vertebrate homeodomain proteins. In vertebrates, these proteins regulate the formation of skeletal elements of the limbs, face and neck. Our findings suggest that the ancestral deuterostome had a population of biomineral-forming mesenchyme cells that expressed an Alx1-like protein
Spectral properties of a two-orbital Anderson impurity model across a non-Fermi liquid fixed point
We study by NRG the spectral properties of a two-orbital Anderson impurity
model in the presence of an exchange splitting which follows either regular or
inverted Hund's rules. The phase diagram contains a non-Fermi liquid fixed
point separating a screened phase, where conventional Kondo effect occurs, from
an unscreened one, where the exchange-splitting takes care of quenching the
impurity degrees of freedom. On the Kondo screened side close to this fixed
point the impurity density of states shows a narrow Kondo-peak on top of a
broader resonance. This narrow peak transforms in the unscreened phase into a
narrow pseudo-gap inside the broad resonance. Right at the fixed point only the
latter survives. The fixed point is therefore identified by a jump of the
density of states at the chemical potential. We also show that particle-hole
perturbations which simply shift the orbital energies do not wash out the fixed
point, unlike those perturbations which hybridize the two orbitals.
Consequently the density-of-state jump at the chemical potential remains finite
even away from particle-hole symmetry, and the pseudo-gap stays pinned at the
chemical potential, although it is partially filled in. We also discuss the
relevance of these results for lattice models which map onto this Anderson
impurity model in the limit of large lattice-coordination. Upon approaching the
Mott metal-insulator transition, these lattice models necessarily enter a
region with a local criticality which reflects the impurity non-Fermi liquid
fixed point. However, unlike the impurity, the lattice can get rid of the
single-impurity fixed-point instability by spontaneously developing
bulk-coherent symmetry-broken phases, which we identify for different lattice
models.Comment: 43 pages, 11 figures. Minor corrections in the Appendi
Boosting infrared energy transfer in 3D nanoporous gold antennas
The applications of plasmonics to energy transfer from free-space radiation to molecules are currently limited to the visible region of the electromagnetic spectrum due to the intrinsic optical properties of bulk noble metals that support strong electromagnetic field confinement only close to their plasma frequency in the visible/ultraviolet range. In this work, we show that nanoporous gold can be exploited as a plasmonic material for the mid-infrared region to obtain strong electromagnetic field confinement, co-localized with target molecules into the nanopores and resonant with their vibrational frequency. The effective optical response of the nanoporous metal enables the penetration of optical fields deep into the nanopores, where molecules can be loaded thus achieving a more efficient light–matter coupling if compared to bulk gold. In order to realize plasmonic resonators made of nanoporous gold, we develop a nanofabrication method based on polymeric templates for metal deposition and we obtain antenna arrays resonating at mid-infrared wavelengths selected by design. We then coat the antennas with a thin (3 nm) silica layer acting as the target dielectric layer for optical energy transfer. We study the strength of the light–matter coupling at the vibrational absorption frequency of silica at 1240 cm−1 through the analysis of the experimental Fano lineshape that is benchmarked against identical structures made of bulk gold. The boost in the optical energy transfer from free-space mid-infrared radiation to molecular vibrations in nanoporous 3D nanoantenna arrays can open new application routes for plasmon-enhanced physical–chemical reactions
Convective Excitation of Inertial Modes in Binary Neutron Star Mergers
We present the first very long-term simulations (extending up to ~140 ms
after merger) of binary neutron star mergers with piecewise polytropic
equations of state and in full general relativity. Our simulations reveal that
at a time of 30-50 ms after merger, parts of the star become convectively
unstable, which triggers the excitation of inertial modes. The excited inertial
modes are sustained up to several tens of milliseconds and are potentially
observable by the planned third-generation gravitational-wave detectors at
frequencies of a few kilohertz. Since inertial modes depend on the rotation
rate of the star and they are triggered by a convective instability in the
postmerger remnant, their detection in gravitational waves will provide a
unique opportunity to probe the rotational and thermal state of the merger
remnant. In addition, our findings have implications for the long-term
evolution and stability of binary neutron star remnantsComment: 6 pages, 4 figure
Non-gaussian effects in the cage dynamics of polymers
The correlation between the fast cage dynamics and structural relaxation is
investigated in a model polymer system. It is shown that the cage vibration
amplitude, as expressed by the Debye-Waller factor, and the relaxation time
collapse on a single universal curve with a simple analytic form
when the temperature, the density, the chain length and the monomer-monomer
interaction potential are changed. For the physical states with the same
coincidence of the mean-square displacement, the intermediate
scattering function and the non-Gaussian parameter is observed in a wide time
window spanning from the ballistic regime to the onset of the Rouse dynamics
driven by the chain connectivity. The role of the non-Gaussian effects is
discussed.Comment: 8 pages, 5 figure
Infrared dust emission in the outer disk of M51
We examine faint infrared emission features detected in Spitzer Space
Telescope images of M51, which are associated with atomic hydrogen in the outer
disk and tidal tail at R greater than R_25 (4.9', ~14 kpc at d=9.6 Mpc). The
infrared colors of these features are consistent with the colors of dust
associated with star formation in the bright disk. However, the star formation
efficiency (as a ratio of star formation rate to neutral gas mass) implied in
the outer disk is lower than that in the bright disk of M51 by an order of
magnitude, assuming a similar relationship between infrared emission and star
formation rate in the inner and outer disks.Comment: 13 pages in manuscript form, 2 figures; download PDF of manuscript
with original-resolution Figure 1 at
http://www.eg.bucknell.edu/physics/thornley/thornleym51.pd
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