Longer-term effects of monetary growth on real and nominal variables, major industrial countries, 1880-2001

Abstract: We study how fluctuations in money growth correlate with fluctuations in real and nominal output growth and inflation. We pick cycles from each time series that last 2 to 8 (business cycles) and 8 to 40 (longer-term cycles) years, using band-pass filters. We employ a data set from 1880 to 2001 for eleven countries, without gaps. Fluctuations in money growth do not play a systematic and important role at the business cycle frequency. However, money growth leads or contemporaneously affects nominal output growth and inflation in the longer run. This result holds despite differences in policies and institutions across countries. JEL Classification: E32 to 8 year cycles, 8 to 40 year cycles, Band-pass filters

Structural breaks, cointegration and the Fisher effect

There is scant empirical support in the literature for the Fisher effect in the long run, though it is often assumed in theoretical models. We argue that a break in the cointegrating relation introduces a spurious unit root that leads to a rejection of cointegration. We applied new break tests and tested for nonlinearity in the cointegrating relation with post-war data for 15 countries. Our empirical results support cointegration, after accounting for breaks, and a linear Fisher relation in the long run. This is in contrast to several recent studies that found no support for linear cointegration. JEL Classification: E43, C32Fisher effect, linear and nonlinear cointegration, Structural change

Interne Moleküldynamik und Analyse von Gasmischungsspektren (BTEM) mit der Neuentwicklung eines breitbandigen Fouriertransform-Mikrowellen(FT-MW)-Spektrometers

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Preliminary results of lifetime measurements in neutron-rich 53Ti

To study the nuclear structure of neutron-rich titanium isotopes, a lifetime measurement was performed at the Grand Accélérateur National d'Ions Lourds (GANIL) facility in Caen, France. The nucleiwere produced in a multinucleon-transfer reaction by using a 6.76 MeV/u 238U beam. The Advanced Gamma Tracking Array (AGATA) was employed for the γ-ray detection and target-like recoils were identified event-by-event by the large-acceptance variable mode spectrometer (VAMOS++). Preliminary level lifetimes of the (5/2−) to 13/2− states of the yrast band in the neutron-rich nucleus 53Ti were measured for the first time employing the recoil distance Doppler-shift (RDDS) method and the compact plunger for deep inelastic reactions. The differential decay curve method (DDCM) was used to obtain the lifetimes from the RDDS data

A rigorous model of reflex function indicates that position and force feedback are flexibly tuned to position and force tasks

This study aims to quantify the separate contributions of muscle force feedback, muscle spindle activity and co-contraction to the performance of voluntary tasks (“reduce the influence of perturbations on maintained force or position”). Most human motion control studies either isolate only one contributor, or assume that relevant reflexive feedback pathways during voluntary disturbance rejection tasks originate mainly from the muscle spindle. Human ankle-control experiments were performed, using three task instructions and three perturbation characteristics to evoke a wide range of responses to force perturbations. During position tasks, subjects (n = 10) resisted the perturbations, becoming more stiff than when being relaxed (i.e., the relax task). During force tasks, subjects were instructed to minimize force changes and actively gave way to imposed forces, thus becoming more compliant than during relax tasks. Subsequently, linear physiological models were fitted to the experimental data. Inhibitory, as well as excitatory force feedback, was needed to account for the full range of measured experimental behaviors. In conclusion, force feedback plays an important role in the studied motion control tasks (excitatory during position tasks and inhibitory during force tasks), implying that spindle-mediated feedback is not the only significant adaptive system that contributes to the maintenance of posture or force

Lifetime measurement of the 2₁⁺ state in ⁷⁴Rb and isospin properties of quadrupole transition strengths at N = Z

Self-conjugate nuclei in the A ≈ 70–80 region have attracted a great deal of attention due to phenomena such as shape coexistence and increasing collectivity along the N=Zline. We investigate the structure of nuclei in this region through lifetime measurements using the GRETINA array. The first implementation of the Differential Recoil Distance Doppler Shift technique with fast radioactive beams is demonstrated and verified through a measurement of the well-known B(E2; 2₁⁺→ 0₁⁺)transition strength in ⁷⁴Kr. The method is then applied to determine the B(E2; 2₁⁺→ 0₁⁺) transition strength in ⁷⁴Rb, the heaviest odd–odd N=Z nucleus for which this quantity has been determined. This result and extended systematics along N=Z suggest the dominance of the isoscalar part of the quadrupole transition strengths in self-conjugate nuclei, as well as the possible presence of shape coexistence in ⁷⁴Rb

Comparison of isoprene chemical mechanisms under atmospheric night-time conditions in chamber experiments : Evidence of hydroperoxy aldehydes and epoxy products from NO3 oxidation

The gas-phase reaction of isoprene with the nitrate radical (NO3) was investigated in experiments in the outdoor SAPHIR chamber under atmospherically relevant conditions specifically with respect to the chemical lifetime and fate of nitrato-organic peroxy radicals (RO2). Observations of organic products were compared to concentrations expected from different chemical mechanisms: (1) the Master Chemical Mechanism, which simplifies the NO3 isoprene chemistry by only considering one RO2 isomer; (2) the chemical mechanism derived from experiments in the Caltech chamber, which considers different RO2 isomers; and (3) the FZJ-NO3 isoprene mechanism derived from quantum chemical calculations, which in addition to the Caltech mechanism includes equilibrium reactions of RO2 isomers, unimolecular reactions of nitrate RO2 radicals and epoxidation reactions of nitrate alkoxy radicals. Measurements using mass spectrometer instruments give evidence that the new reactions pathways predicted by quantum chemical calculations play a role in the NO3 oxidation of isoprene. Hydroperoxy aldehyde (HPALD) species, which are specific to unimolecular reactions of nitrate RO2, were detected even in the presence of an OH scavenger, excluding the possibility that concurrent oxidation by hydroxyl radicals (OH) is responsible for their formation. In addition, ion signals at masses that can be attributed to epoxy compounds, which are specific to the epoxidation reaction of nitrate alkoxy radicals, were detected. Measurements of methyl vinyl ketone (MVK) and methacrolein (MACR) concentrations confirm that the decomposition of nitrate alkoxy radicals implemented in the Caltech mechanism cannot compete with the ring-closure reactions predicted by quantum chemical calculations. The validity of the FZJ-NO3 isoprene mechanism is further supported by a good agreement between measured and simulated hydroxyl radical (OH) reactivity. Nevertheless, the FZJ-NO3 isoprene mechanism needs further investigations with respect to the absolute importance of unimolecular reactions of nitrate RO2 and epoxidation reactions of nitrate alkoxy radicals. Absolute concentrations of specific organic nitrates such as nitrate hydroperoxides would be required to experimentally determine product yields and branching ratios of reactions but could not be measured in the chamber experiments due to the lack of calibration standards for these compounds. The temporal evolution of mass traces attributed to product species such as nitrate hydroperoxides, nitrate carbonyl and nitrate alcohols as well as hydroperoxy aldehydes observed by the mass spectrometer instruments demonstrates that further oxidation by the nitrate radical and ozone at atmospheric concentrations is small on the timescale of one night (12gh) for typical oxidant concentrations. However, oxidation by hydroxyl radicals present at night and potentially also produced from the decomposition of nitrate alkoxy radicals can contribute to their nocturnal chemical loss

Lifetime measurements of excited states in ¹⁶³W and the implications for the anomalous B(E2) ratios in transitional nuclei

This letter reports lifetime measurements of excited states in the odd-N nucleus 163W using the recoil-distance Doppler shift method to probe the core polarising effect of the i13/2 neutron orbital on the underlying soft triaxial even-even core. The ratio B(E2:21/2⁺ → 17/2⁺)/B(E2:17/2⁺ → 13/2⁺) is consistent with the predictions of the collective rotational model. The deduced B(E2) values provide insights into the validity of collective model predictions for heavy transitional nuclei and a geometric origin for the anomalous B(E2) ratios observed in nearby even-even nuclei is proposed

Money, Output and Inflation in the Longer Term: Major Industrial Countries, 1880-2001

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