Why is consumption more log normal than income? Gibrat’s Law revisited

Significant departures from log normality are observed in income data, in violation of Gibrat’s law. We identify a new empirical regularity, which is that the distribution of consumption expenditures across households is, within cohorts, closer to log normal than the distribution of income. We explain these empirical results by showing that the logic of Gibrat’s law applies not to total income, but to permanent income and to maginal utility. These findings have important implications for welfare and inequality measurement, aggregation, and econometric model analysis

Consumption inequality and income uncertainty

This paper places the debate over using consumption or income in studies of inequality growth in a formal intertemporal setting. It highlights the importance of permanent and transitory income uncertainty in the evaluation of growth in consumption inequality. We derive conditions under which the growth of variances and covariances of income and consumption can be used to separately identify the growth in the variance of permanent and transitory income shocks. Household data from Britain for the period 1968-1992 are used to show a strong growth in transitory inequality toward the end of this period, while younger cohorts are shown to face significantly higher levels of permanent inequality

Evidence of complex involvement of serotonergic genes with restrictive and binge purge subtypes of anorexia nervosa

Peer reviewedPreprin

High Spatial Resolution Observations of Two Young Protostars in the R Corona Australis Region

We present multi-wavelength, high spatial resolution imaging of the IRS 7 region in the R Corona Australis molecular cloud. Our observations include 1.1 mm continuum and HCO^+ J = $3 \to 2$ images from the SMA, ^{12}CO J = $3 \to 2$ outflow maps from the DesertStar heterodyne array receiver on the HHT, 450 $\mu$m and 850 $\mu$m continuum images from SCUBA, and archival Spitzer IRAC and MIPS 24 \micron images. The accurate astrometry of the IRAC images allow us to identify IRS 7 with the cm source VLA 10W (IRS 7A) and the X-ray source X_W. The SMA 1.1 mm image reveals two compact continuum sources which are also distinguishable at 450 $\mu$m. SMA 1 coincides with X-ray source CXOU J190156.4-365728 and VLA cm source 10E (IRS 7B) and is seen in the IRAC and MIPS images. SMA 2 has no infrared counterpart but coincides with cm source VLA 9. Spectral energy distributions constructed from SMA, SCUBA and Spitzer data yield bolometric temperatures of 83 K for SMA 1 and $\leq$70 K for SMA 2. These temperatures along with the submillimeter to total luminosity ratios indicate that SMA 2 is a Class 0 protostar, while SMA 1 is a Class 0/Class I transitional object (L=$17\pm6$ \Lsun). The ^{12}CO J = $3 \to 2$ outflow map shows one major and possibly several smaller outflows centered on the IRS 7 region, with masses and energetics consistent with previous work. We identify the Class 0 source SMA 2/VLA 9 as the main driver of this outflow. The complex and clumpy spatial and velocity distribution of the HCO^+ J = $3 \to 2$ emission is not consistent with either bulk rotation, or any known molecular outflow activity.Comment: 31 pages, 8 figures, Accepted to Ap

Non-Collinear Ferromagnetic Luttinger Liquids

The presence of electron-electron interactions in one dimension profoundly changes the properties of a system. The separation of charge and spin degrees of freedom is just one example. We consider what happens when a system consisting of a ferromagnetic region of non-collinearity, i.e. a domain wall, is coupled to interacting electrons in one-dimension (more specifically a Luttinger liquid). The ferromagnetism breaks spin charge separation and the presence of the domain wall introduces a spin dependent scatterer into the problem. The absence of spin charge separation and the effects of the electron correlations results in very different behaviour for the excitations in the system and for spin-transfer-torque effects in this model.Comment: 6 pages, submitted to Journal of Physics: Conference Series for JEMS 201

Observation of Spin-glass-like Behavior in SrRuO3 Epitaxial Thin Films

We report the observation of spin-glass-like behavior and strong magnetic anisotropy in extremely smooth (~1-3 \AA) roughness) epitaxial (110) and (010) SrRuO3 thin films. The easy axis of magnetization is always perpendicular to the plane of the film (unidirectional) irrespective of crystallographic orientation. An attempt has been made to understand the nature and origin of spin-glass behavior, which fits well with Heisenberg model.Comment: 5 pages, 5 Figure