Household liquidity and incremental financing decisions:theory and evidence

In this paper we develop a stochastic model for household liquidity. In the model, the optimal liquidity policy takes the form of a liquidity range. Subsequently, we use the model to calibrate the upper bound of the predicted liquidity range. Equipped with knowledge about the relevant control barriers, we run a series of empirical tests on a panel data set of Dutch households covering the period 1992-2007. The results broadly validate our theoretical predictions that households (i) exhaust most of their short-term liquid assets prior to increasing net debt, and (ii) reduce outstanding net debt at the optimally selected upper liquidity barrier. However, a small minority of households appear to act sub-optimally. Poor and vulnerable households rely too frequently on expensive forms of credit (such as overdrafts) hereby incurring substantial amounts of fees and fixed borrowing costs. Elderly households and people on social benefits tend to accumulate too much liquidity. Finally, some households take on expensive short-term credit while having substantial amounts of low-yielding liquid assets

Collision-Dependent Atom Tunnelling Rate in Bose-Einstein Condensates

We show that the interaction (cross-collision) between atoms trapped in distinct sites of a double-well potential can significantly increase the atom tunneling rate for special trap configurations leading to an effective linear Rabi regime of population oscillation between the trap wells. The inclusion of cross-collisional effects significantly extends the validity of the two-mode model approach allowing it to be alternatively employed to explain the recently observed increase of tunneling rates due to nonlinear interactions.Comment: 4 pages, 2 figures. Replaced with improved versio

Optimal Conditions for Atomic Homodyne Detection on Bose-Einstein Condensates

The dynamics of a two-mode Bose-Einstein condensate trapped in a double-well potential results approximately in an effective Rabi oscillation regime of exchange of population between both wells for sufficiently strong overlap between the modes functions. Facing this system as a temporal atomic beam splitter we show that this regime is optimal for a nondestructive atom-number measurement allowing an atomic homodyne detection, thus yielding indirect relative phase information about one of the two-mode condensates.Comment: 9 pages, 5 figure

On Effective Spacetime Dimension in the Ho\v{r}ava-Lifshitz Gravity

In this manuscript we explicitly compute the effective dimension of spacetime in some backgrounds of Ho\v{r}ava-Lifshitz (H-L) gravity. For all the cases considered, the results are compatible with a dimensional reduction of the spacetime to $d+1=2$, at high energies (ultraviolet limit), which is confirmed by other quantum gravity approaches, as well as to $d+1=4$, at low energies (infrared limit). This is obtained by computing the free energy of massless scalar and gauge fields. We find that the only effect of the background is to change the proportionality constant between the internal energy and temperature. Firstly, we consider both the non-perturbative and perturbative models involving the matter action, without gravitational sources but with manifest time and space symmetry breaking, in order to calculate modifications in the Stephan-Boltzmann law. When gravity is taken into account, we assume a scenario in which there is a spherical source with mass $M$ and radius $R$ in thermal equilibrium with radiation, and consider the static and spherically symmetric solution of the H-L theory found by Kehagias-Sfetsos (K-S), in the weak and strong field approximations. As byproducts, for the weak field regime, we used the current uncertainty of the solar radiance measurements to establish a constraint on the $\omega$ free parameter of the K-S solution. We also calculate the corrections, due to gravity, to the recently predicted attractive force that black bodies exert on nearby neutral atoms and molecules.Comment: references adde