Financialising the State : Recent development in fiscal and monetary policy

Understanding the nature of state financialisation is crucial to ensure definancialisation efforts are successful. This paper provides a structured overview of the emerging literature on financialisation and the state. We define financialisation of the state broadly as the changed relationship between the state, understood as sovereign with duties and accountable towards its citizens, and financial markets and practices, in ways that can diminish those duties and reduce accountability. We then argue that there are four ways in which financialisation works in and through public institutions and policies: adoption of financial motives, advancing financial innovation, embracing financial accumulation strategies, and directly financialising the lives of citizens. Organising our review around the two main policy fields of fiscal and monetary policy, four definitions of financialisation in the context of public policy and institutions emerge. When dealing with public expenditure on social provisions financialisation most often refers to the transformation of public services into the basis for actively traded financial assets. In the context of public revenue, financialisation describes the process of creating and deepening secondary markets for public debt, with the state turning into a financial market player. Finally, in the realm of monetary policy financial deregulation is perceived to have paved the way for financialisation, while inflation targeting and the encouragement, or outright pursuit, of market-based short-term liquidity management among financial institutions constitute financialised policies

VLT/UVES shows no cosmological variability of alpha

The cosmological variability of alpha is probed from individual observations of pairs of FeII lines. This procedure allows a better control of the systematics and avoids the influence of the spectral shifts due to ionization inhomogeneities in the absorbers and/or non-zero offsets between different exposures. Applied to the FeII lines of the metal absorption systems at zabs = 1.839 in Q1101--264 and at zabs = 1.15 in HE0515--4414 observed by means of UVES at the ESO-VLT, it provides da/a = 0.4 (+/- 1.5 stat)x10^{-6}. The result is shifted with respect to the Keck/HIRES mean da/a = -5.7(+/- 1.1 stat})x10^{-6} (Murphy et al. 2004) at a high confidence level (95%). Full details of this work are given in Levshakov et al (2005)Comment: 3 pages, 1 postscript figur

Dynamics of filament formation in a Kerr medium

We have studied the large-scale beam breakup and filamentation of femtosecond pulses in a Kerr medium. We have experimentally monitored the formation of stable light filaments, conical emission, and interactions between filaments. Three major stages lead to the formation of stable light filaments: First the beam breaks up into a pattern of connected lines (constellation), then filaments form on the constellations, and finally the filaments release a fraction of their energy through conical emission. We observed a phase transition to a faster filamentation rate at the onset of conical emission. We attribute this to the interaction of conical emissions with the constellation which creates additional filaments. Numerical simulations show good agreement with the experimental results

Imaging of Alignment, Deformation and Dissociation of CS2 Molecules using Ultrafast Electron Diffraction

Imaging the structure of molecules in transient excited states remains a challenge due to the extreme requirements for spatial and temporal resolution. Ultrafast electron diffraction from aligned molecules (UEDAM) provides atomic resolution and allows for the retrieval of structural information without the need to rely on theoretical models. Here we use UEDAM and femtosecond laser mass spectrometry (FLMS) to investigate the dynamics in carbon disulfide (CS2) following the interaction with an intense femtosecond laser pulse. We have retrieved images of ground state and excited molecules with 0.03 {\AA} precision. We have observed that the degree of alignment reaches an upper limit at laser intensities below the ionization threshold, and found evidence of structural deformation, dissociation, and ionization at higher laser intensities

The prophetic role of Christian media

Communication is essential to human living and development. People need to share their ideas and experiences in order to develop both individually and as a group or community. Communication, then, aims to foster community life and growth. Communication is an essential human right.&nbsp

Holographic capture of femtosecond pulse propagation

We have implemented a holographic system to study the propagation of femtosecond laser pulses with high temporal (150 fs) and spatial resolutions (4 µm). The phase information in the holograms allows us to reconstruct both positive and negative index changes due to the Kerr nonlinearity (positive) and plasma formation (negative), and to reconstruct three-dimensional structure. Dramatic differences were observed in the interaction of focused femtosecond pulses with air, water, and carbon disulfide. The air becomes ionized in the focal region, while in water long plasma filaments appear before the light reaches a tight focus. In contrast, in carbon disulfide the optical beam breaks up into multiple filaments but no plasma is measured. We explain these different propagation regimes in terms of the different nonlinear material properties

Nonlinearity Management in Optics: Experiment, Theory, and Simulation

We conduct an experimental investigation of nonlinearity management in optics using femtosecond pulses and layered Kerr media consisting of glass and air. By examining the propagation properties over several diffraction lengths, we show that wave collapse can be prevented. We corroborate these experimental results with numerical simulations of the (2+1)-dimensional focusing cubic nonlinear Schrödinger equation with piecewise constant coefficients and a theoretical analysis of this setting using a moment method

Holographic recording of fast events on a CCD camera

We report on holographic recording of nanosecond events on a conventional CCD camera. Three frames of an air-discharge event, with resolution of 5.9 ns and frame interval of 12 ns, are recorded in a single CCD frame. Each individual frame is reconstructed by digital filtering of the CCD frame, since successively recorded holograms are centered at different carrier frequencies in the spatial frequency domain