Household Debt and the Dynamic Effects of Income Tax Changes

Using a new narrative measure of fiscal policy shocks for the U.K., we show that households with mortgage debt exhibit large and significant consumption responses to tax changes. Homeowners without a mortgage, in contrast, do not adjust their expenditure, with responses not statistically different from zero at all horizons. We compare our findings to the predictions of traditional and newer theories of liquidity constraints, providing a novel interpretation for the aggregate effects of tax changes on the macroeconomy

Absolute laser energy absorption measurement of relativistic 0.7 ps laser pulses in nanowire arrays

Laser absorption is one of the most important parameters governing laser-matter interactions. The laser energy absorption on nanowire array targets is measured for the first time in the relativistic regime at intensities of 10 19 W / cm 2 and compared to foil targets. The results show that the laser energy absorption of 0.7 ps frequency doubled (527 nm) pulses on Au nanowire targets varies widely with nanowire parameters, reaching laser energy absorption values up to ∼ 71 % of the incident energy, significantly exceeding those of solid flat targets obtained in similar irradiation conditions. The analysis shows that the increase in absorption strongly correlates with larger effective target surface area over a broad range of nanowire parameters explored. These direct absorption measurements provide valuable data to benchmark simulations of the relativistic laser pulse interactions with nanostructures.Fil: Park, J.. State University of Colorado - Fort Collins; Estados UnidosFil: Tommasini, R.. Lawrence Livermore National Laboratory; Estados UnidosFil: Shepherd, R.. Lawrence Livermore National Laboratory; Estados UnidosFil: London, R. A.. Lawrence Livermore National Laboratory; Estados UnidosFil: Bargsten, C.. State University of Colorado - Fort Collins; Estados UnidosFil: Hollinger, R.. State University of Colorado - Fort Collins; Estados UnidosFil: Capeluto, Maria Gabriela. State University of Colorado - Fort Collins; Estados Unidos. Consejo Nacional de Investigaciones Científicas y Técnicas. Oficina de Coordinación Administrativa Ciudad Universitaria. Instituto de Física de Buenos Aires. Universidad de Buenos Aires. Facultad de Ciencias Exactas y Naturales. Instituto de Física de Buenos Aires; ArgentinaFil: Shlyaptsev, V. N.. State University of Colorado - Fort Collins; Estados UnidosFil: Hill, M. P.. Lawrence Livermore National Laboratory; Estados UnidosFil: Kaymak, V.. Lawrence Livermore National Laboratory; Estados UnidosFil: Baumann, C.. Lawrence Livermore National Laboratory; Estados UnidosFil: Pukhov, A.. Lawrence Livermore National Laboratory; Estados UnidosFil: Cloyne, D.. Lawrence Livermore National Laboratory; Estados UnidosFil: Costa, R.. Lawrence Livermore National Laboratory; Estados UnidosFil: Hunter, J.. Lawrence Livermore National Laboratory; Estados UnidosFil: Maricle, S.. Lawrence Livermore National Laboratory; Estados UnidosFil: Moody, J.. Lawrence Livermore National Laboratory; Estados UnidosFil: Rocca, J. J.. State University of Colorado - Fort Collins; Estados Unido