Optimal Simple Rules for Fiscal Policy in a Monetary Union

The paper discusses the stabilizing potential of fiscal policy in a dynamic general-equilibrium model of monetary union. We consider a small open economy inside the currency area. We analyze the demand and supply effects of direct taxation, indirect taxation and government spending and derive optimal simple rules for fiscal stabilization of a technology shock. Fiscal policy achieves substantial macroeconomic stabilization. Simple public-expenditure rules show the highest degree of both output and inflation stabilization. The implementation lag substantially weakens output stabilization, but hardly affects the stabilization of prices. Out-put-oriented rules imply less instrument inertia than inflation-dominated rules. The implemen-tation lag leads to higher coefficients for inflation relative to output in the optimal rule. Com-pared to the single-instrument approach the simultaneous optimization of two instrument rules implies only little additional stabilization gains.Fiscal policy, monetary union, simple policy rules

Function-Orientated Structural Analysis of the Proximal Human Femur

In his model of the biomechanics of the proximal human femur, Friedrich Pauwels assumes a resultant force acting on the femoral head that is created by the partial body weight and the force of the abductor muscles inserting at the greater trochanter. This model suggests a tensile force in the region of the greater trochanter. An exact examination of the muscle insertions at the greater trochanter resulted in a contrasting hypothesis assuming a local compression stress in the region of the greater trochanter. The aim of this study was to examine which hypothesis is favored by the internal architecture of the proximal femur. Based on the architectural software Allplan (R), we performed an extended analysis of the trabecular structure within the proximal femur using CT scans of 10 human cadaver femora altogether. According to our results, both the medial and the trochanteric trabecular systems are orientated approximately perpendicular to the arcuate trabecular system {[}angles between systems ranging from 84.6 to 93.0 degrees (mean angle 90.7 degrees) and from 80.9 to 86.5 degrees, (mean angle 84.9 degrees), respectively]; furthermore, the medial trabecular system is orientated perpendicular to the epiphysis of the femoral head (mean of angles: 94.7). The biomechanical interpretation of these results strongly supports the idea of compressive stress in the region of the greater trochanter and makes a predominant tensile force of the abductor muscles highly unlikely. Copyright (C) 2009 S. Karger AG, Base

Optimal Simple Rules for Fiscal Policy in a Monetary Union

The paper discusses the stabilizing potential of fiscal policy in a dynamic general-equilibrium model of monetary union. We consider a small open economy inside the currency area. We analyze the demand and supply effects of direct taxation, indirect taxation and government spending and derive optimal simple rules for fiscal stabilization of a technology shock. Fiscal policy achieves substantial macroeconomic stabilization. Simple public-expenditure rules show the highest degree of both output and inflation stabilization. The implementation lag substantially weakens output stabilization, but hardly affects the stabilization of prices. Out-put-oriented rules imply less instrument inertia than inflation-dominated rules. The implemen-tation lag leads to higher coefficients for inflation relative to output in the optimal rule. Com-pared to the single-instrument approach the simultaneous optimization of two instrument rules implies only little additional stabilization gains

Structural reforms and the exchange rate regime: a panel analysis for the world versus OECD countries

We test the significance of the relationship between the exchange rate regime and the degree of structural reforms by estimating panel regressions for a world and an OECD country sample. The empirical results suggest a positive correlation between on the one side the adoption of an exchange rate rule and on the other side overall structural reforms as well as reforms in the money and banking sector in the broad country sample. For government size and for market regulation, we do not find any robust significant effect, however. The results do not confirm the main implication of Calmfors-type models, namely a higher degree of reforms under monetary policy autonomy. They corroborate conditional policy convergence and, partly, that limiting monetary policy autonomy fosters structural reforms

Ultrafine particles over Germany – an aerial survey

Ultrafine particles in the atmosphere may have important climate and health effects. As they are below visible size and not visible for remote sensing techniques, the majority of observations thus come from ground-based measurements. Some of those observations indicate elevated sources for ultrafine particles. Here we present for the first time airborne measurements of number concentration and size distributions of ultrafine particles along defined flight paths across Germany, allowing to derive background concentrations and to identify major single sources. A significant impact of fossil fuel–related emissions on background and maximum concentrations was found. Maxima reaching up to 90 000 particles cm−3 were encountered in plumes of single large sources extending over more than 200 km. Modelling shows that about 10–40 % of Germany were continuously affected by such plumes. Regional-scale transport and boundary layer dynamics were identified as major factors controlling spatial and temporal patterns of size and number distributions

Modeling the dispersion of Ambrosia artemisiifolia L. pollen with the model system COSMO-ART

Common ragweed (Ambrosia artemisiifolia L.) is a highly allergenic plant that is spreading throughout Europe. Ragweed pollen can be transported over large distances by the wind. Even low pollen concentrations of less than 10 pollen m−3 can lead to health problems in sensitive persons. Therefore, forecasting the airborne concentrations of ragweed pollen is becoming more and more important for public health. The question remains whether distant pollen sources need to be considered in reliable forecasts. We used the extended numerical weather prediction system COSMO-ART to simulate the release and transport of ragweed pollen in central Europe. A pollen episode (September 12–16, 2006) in north-eastern Germany was modeled in order to find out where the pollen originated. For this purpose, several different source regions were taken into account and their individual impact on the daily mean pollen concentration and the performance of the forecast were studied with the means of a 2 × 2 contingency table and skill scores. It was found that the majority of the pollen originated in local areas, but up to 20% of the total pollen load came from distant sources in Hungary. It is concluded that long-distance transport should not be neglected when predicting pollen concentrations

Regional Impact of Snow‐Darkening on Snow Pack and the Atmosphere During a Severe Saharan Dust Deposition Event in Eurasia

Light-absorbing impurities such as mineral dust can play a major role in reducing the albedo of snow surfaces. Particularly in spring, deposited dust particles lead to increased snow melt and trigger further feedbacks at the land surface and in the atmosphere. Quantifying the extent of dust-induced variations is difficult due to high variability in the spatial distribution of mineral dust and snow. We present an extension of a fully coupled atmospheric and land surface model system to address the impact of mineral dust on the snow albedo across Eurasia. We evaluated the short-term effects of Saharan dust in a case study. To obtain robust results, we performed an ensemble simulation followed by statistical analysis. Mountainous regions showed a strong impact of dust deposition on snow depth. We found a mean significant reduction of −1.4 cm in the Caucasus Mountains after 1 week. However, areas with flat terrain near the snow line also showed strong effects despite lower dust concentrations. Here, the feedback to dust deposition was more pronounced as increase in surface temperature and air temperature. In the region surrounding the snow line, we found an average significant surface warming of 0.9 K after 1 week. This study shows that the impact of mineral dust deposition depends on several factors. Primarily, these are altitude, slope, snow depth, and snow cover fraction. Especially in complex terrain, it is therefore necessary to use fully coupled models to investigate the effects of mineral dust on snow pack and the atmosphere

Contrails and their impact on shortwave radiation and photovoltaic power production – a regional model study

A high-resolution regional-scale numerical model was extended by a parameterization that allows for both the generation and the life cycle of contrails and contrail cirrus to be calculated. The life cycle of contrails and contrail cirrus is described by a two-moment cloud microphysical scheme that was extended by a separate contrail ice class for a better representation of the high concentration of small ice crystals that occur in contrails. The basic input data set contains the spatially and temporally highly resolved flight trajectories over Central Europe derived from real-time data. The parameterization provides aircraft-dependent source terms for contrail ice mass and number. A case study was performed to investigate the influence of contrails and contrail cirrus on the shortwave radiative fluxes at the earth’s surface. Accounting for contrails produced by aircraft enabled the model to simulate high clouds that were otherwise missing on this day. The effect of these extra clouds was to reduce the incoming shortwave radiation at the surface as well as the production of photovoltaic power by up to 10 %