Fiscal Consolidation with High Growth : A Policy Simulation Model for India

In this paper a fiscal consolidation program for India has been presented based on a policy simulation model that enables us to examine the macroeconomic implications of alternative fiscal strategies, given certain assumptions about other macro policy choices and relevant exogenous factors. The model is then used to estimate the outcomes resulting from a possible strategy of fiscal consolidation in the base case. The exercise shows that it is possible to have fiscal consolidation while at the same time maintaining high GDP growth of around 8% or so. The strategy is to gradually bring down the revenue deficit to zero by 2014-15, while allowing a combined fiscal deficit for centre plus states of about 6% of GDP. This provides the space for substantial government capital expenditure, which translates to a significant public investment program. This in turn leads to high overall investment directly and indirectly, via the crowding in effect on private investment, which drives the high GDP growth. The exercise has also tested the robustness of this strategy under two alternative scenarios of higher and lower advanced country growth compared to the base case.Macroeconomic Modelling, Policy Simulation, Fiscal Policy, India

Fiscal consolidation with high growth: A policy simulation model for India.

In this paper a fiscal consolidation program for India has been presented based on a policy simulation model that enables us to examine the macroeconomic implications of alternative fiscal strategies, given certain assumptions about other macro policy choices and relevant exogenous factors. The model is then used to estimate the outcomes resulting from a possible strategy of fiscal consolidation in the base case. The exercise shows that it is possible to have fiscal consolidation while at the same time maintaining high GDP growth of around 8 percent or so. The strategy is to gradually bring down the revenue deficit to zero by 2014-15, while allowing a combined fiscal deficit for centre plus states of about 6 percent of GDP. This provides the space for substantial government capital expenditure, which translates to a significant public investment program. This in turn leads to high overall investment directly and indirectly, via the crowding in effect on private investment, which drives the high GDP growth. The exercise has also tested the robustness of this strategy under two alternative scenarios of higher and lower advanced country growth compared to the base case.Macroeconomic modelling, Policy simulation, Fiscal policy, India

Rolling Tachyon Boundary State, Conserved Charges and Two Dimensional String Theory

The boundary state associated with the rolling tachyon solution on an unstable D-brane contains a part that decays exponentially in the asymptotic past and the asymptotic future, but it also contains other parts which either remain constant or grow exponentially in the past or future. We argue that the time dependence of the latter parts is completely determined by the requirement of BRST invariance of the boundary state, and hence they contain information about certain conserved charges in the system. We also examine this in the context of the unstable D0-brane in two dimensional string theory where these conserved charges produce closed string background associated with the discrete states, and show that these charges are in one to one correspondence with the symmetry generators in the matrix model description of this theory.Comment: LaTeX file, 37 pages; v3: references added; v4: minor change

Vortex dynamics and upper critical fields in ultrathin Bi films

Current-voltage (I-V) characteristics of quench condensed, superconducting, ultrathin $Bi$ films in a magnetic field are reported. These I-V's show hysteresis for all films, grown both with and without thin $Ge$ underlayers. Films on Ge underlayers, close to superconductor-insulator transition (SIT), show a peak in the critical current, indicating a structural transformation of the vortex solid (VS). These underlayers, used to make the films more homogeneous, are found to be more effective in pinning the vortices. The upper critical fields (B$_{c2}$) of these films are determined from the resistive transitions in perpendicular magnetic field. The temperature dependence of the upper critical field is found to differ significantly from Ginzburg-Landau theory, after modifications for disorder.Comment: Phys Rev B, to be published Figure 6 replaced with correct figur

Conformal fields in the pp-wave limit

The pp-wave (Penrose limit) in conformal field theory can be viewed as a special contraction of the unitary representations of the conformal group. We study the kinematics of conformal fields in this limit in a geometric approach where the effect of the contraction can be visualized as an expansion of space-time. We discuss the two common models of space-time as carrier spaces for conformal fields: One is the usual Minkowski space and the other is the coset of the conformal group over its maximal compact subgroup. We show that only the latter manifold and the corresponding conformal representation theory admit a non-singular contraction limit. We also address the issue of correlation functions of conformal fields in the pp-wave limit. We show that they have a well-defined contraction limit if their space-time dependence merges with the dependence on the coordinates of the R symmetry group. This is a manifestation of the fact that in the limit the space-time and R symmetries become indistinguishable. Our results might find applications in actual calculations of correlation functions of composite operators in N=4 super Yang-Mills theory.Comment: LaTex, 32 pages, 1 figure, discussion of correlation functions extended; some corrections made; references adde

The Effects of Disorder on the ν=1\nu=1 Quantum Hall State

A disorder-averaged Hartree-Fock treatment is used to compute the density of single particle states for quantum Hall systems at filling factor $\nu=1$. It is found that transport and spin polarization experiments can be simultaneously explained by a model of mostly short-range effective disorder. The slope of the transport gap (due to quasiparticles) in parallel field emerges as a result of the interplay between disorder-induced broadening and exchange, and has implications for skyrmion localization.Comment: 4 pages, 3 eps figure

Multi-layered Ruthenium-modified Bond Coats for Thermal Barrier Coatings

Diffusional approaches for fabrication of multi-layered Ru-modified bond coats for thermal barrier coatings have been developed via low activity chemical vapor deposition and high activity pack aluminization. Both processes yield bond coats comprising two distinct B2 layers, based on NiAl and RuAl, however, the position of these layers relative to the bond coat surface is reversed when switching processes. The structural evolution of each coating at various stages of the fabrication process has been and subsequent cyclic oxidation is presented, and the relevant interdiffusion and phase equilibria issues in are discussed. Evaluation of the oxidation behavior of these Ru-modified bond coat structures reveals that each B2 interlayer arrangement leads to the formation of α-Al 2 O 3 TGO at 1100°C, but the durability of the TGO is somewhat different and in need of further improvement in both cases

Origin of strange metallic phase in cuprate superconductors

The origin of strange metallic phase is shown to exist due to these two conditions---(i) the electrons are strongly interacting such that there are no band and Mott-Hubbard gaps, and (ii) the electronic energy levels are crossed in such a way that there is an electronic energy gap between two energy levels associated to two different wave functions. The theory is also exploited to explain (i) the upward- and downward-shifts in the $T$-linear resistivity curves, and (ii) the spectral weight transfer observed in the soft X-ray absorption spectroscopic measurements of the La-Sr-Cu-O Mott insulator.Comment: To be published in J. Supercond. Nov. Mag