42,302 research outputs found
Royale with Cheese: The Effect of Globalization on the Variety of Goods
The key result of the so-called “New Trade Theory” is that countries gain from falling trade costs by an increase in the number of varieties available to consumers. Though the number of varieties in a given country rises, it is also true that global variety decreases from increased competition wherein imported varieties drive out some local varieties. This second result is a major issue for anti-trade activists who criticize the move towards free trade as promoting homogenization” or “Americanization” of varieties across countries. We present a model of endogenous entry with heterogeneous firms which models this concern in two ways: a portion of a consumer’s income is spent overseas (i.e. tourism) and an existence value (a common tool in environmental economics where simply knowing that a species exists provides utility). Since lowering trade costs induces additional varieties to export and drives out some non-exported varieties, these modifications result in welfare losses not accounted for in the existing literature. Nevertheless, it is only through the existence value that welfare can fall as a result of declining trade barriers. Thus, for these criticisms of globalization to dominate, it must be that this loss in the existence value outweighs the direct benefits from consumption.firm heterogeneity; tourism
Optimal Tariffs, Tariff Jumping, and Heterogeneous Firms
The majority of research to date investigating strategic tariffs in the presence of multinationals finds a knife-edge result where, in equilibrium, all foreign firms are either multinationals or exporters. Utilizing a model of heterogeneous firms, we find equilibria in which both pure exporters and multinationals coexist. We utilize this model to study the case of endogenously chosen tariffs. As is standard, Nash equilibrium tariffs are higher than the socially optimal tariffs. Unlike existing models with homogeneous firms, we find that non-cooperative tariffs promote the existence of low-productivity firms relative to the socially optimal tariffs. This highlights a new source of inefficiency from tariff competition not found in models of homogeneous firms. In addition, we find that in many cases the Nash equilibrium tariff when FDI is a potential firm structure is lower than when it is not. As a result, FDI improves welfare by mitigating tariff competition.Intra-industry Trade; Trade policy; Firm heterogeneity; Monopolistic competition
Quarkonium spin structure in lattice NRQCD
Numerical simulations of the quarkonium spin splittings are done in the
framework of lattice nonrelativistic quantum chromodynamics (NRQCD). At leading
order in the velocity expansion the spin splittings are of , where
is the renormalized quark mass and is the mean squared quark
velocity. A systematic analysis is done of all next-to-leading order
corrections. This includes the addition of relativistic
interactions, and the removal of discretization errors in the
leading-order interactions. Simulations are done for both S- and P-wave mesons,
with a variety of heavy quark actions and over a wide range of lattice
spacings. Two prescriptions for the tadpole improvement of the action are also
studied in detail: one using the measured value of the average plaquette, the
other using the mean link measured in Landau gauge. Next-to-leading order
interactions result in a very large reduction in the charmonium splittings,
down by about 60% from their values at leading order. There are further
indications that the velocity expansion may be poorly convergent for
charmonium. Prelimary results show a small correction to the hyperfine
splitting in the Upsilon system.Comment: 16 pages, REVTEX v3.1, 5 postscript figures include
Tadpole renormalization and relativistic corrections in lattice NRQCD
We make a comparison of two tadpole renormalization schemes in the context of
the quarkonium hyperfine splittings in lattice NRQCD. Improved gauge-field and
NRQCD actions are analyzed using the mean-link in Landau gauge, and
using the fourth root of the average plaquette . Simulations are done
for , , and systems. The hyperfine splittings are
computed both at leading and at next-to-leading order in the relativistic
expansion. Results are obtained at lattice spacings in the range of about
0.14~fm to 0.38~fm. A number of features emerge, all of which favor tadpole
renormalization using . This includes much better scaling behavior of
the hyperfine splittings in the three quarkonium systems when is
used. We also find that relativistic corrections to the spin splittings are
smaller when is used, particularly for the and
systems. We also see signs of a breakdown in the NRQCD expansion when the bare
quark mass falls below about one in lattice units. Simulations with
also appear to be better behaved in this context: the bare quark masses turn
out to be larger when is used, compared to when is used on
lattices with comparable spacings. These results also demonstrate the need to
go beyond tree-level tadpole improvement for precision simulations.Comment: 14 pages, 7 figures (minor changes to some phraseology and
references
First Forcer results on deep-inelastic scattering and related quantities
We present results on the fourth-order splitting functions and coefficient
functions obtained using Forcer, a four-loop generalization of the Mincer
program for the parametric reduction of self-energy integrals. We have computed
the respective lowest three even-N and odd-N moments for the non-singlet
splitting functions and the non-singlet coefficient functions in
electromagnetic and nu+nu(bar) charged-current deep-inelastic scattering, and
the N=2 and N=4 results for the corresponding flavour-singlet quantities.
Enough moments have been obtained for an LLL-based determination of the
analytic N-dependence of the nf^3 and nf^2 parts, respectively, of the singlet
and non-singlet splitting functions. The large-N limit of the latter provides
the complete nf^2 contributions to the four-loop cusp anomalous dimension. Our
results also provide additional evidence of a non-vanishing contribution of
quartic group invariants to the cusp anomalous dimension.Comment: 11 pages, LaTeX (PoS style), 4 eps-figures. To appear in the
proceedings of `Loops & Legs 2016', Leipzig (Germany), April 201
Charmonium properties from lattice QCD + QED: hyperfine splitting, leptonic width, charm quark mass and
We have performed the first lattice QCD computations of the
properties (masses and decay constants) of ground-state charmonium mesons. Our
calculation uses the HISQ action to generate quark-line connected two-point
correlation functions on MILC gluon field configurations that include
quark masses going down to the physical point, tuning the quark mass from
and including the effect of the quark's electric charge
through quenched QED. We obtain (connected) =
120.3(1.1) MeV and interpret the difference with experiment as the impact on
of its decay to gluons, missing from the lattice calculation. This
allows us to determine =+7.3(1.2) MeV,
giving its value for the first time. Our result of 0.4104(17)
GeV, gives =5.637(49) keV, in agreement
with, but now more accurate than experiment. At the same time we have improved
the determination of the quark mass, including the impact of quenched QED
to give = 0.9841(51) GeV. We have also used
the time-moments of the vector charmonium current-current correlators to
improve the lattice QCD result for the quark HVP contribution to the
anomalous magnetic moment of the muon. We obtain , which is 2.5 higher than the value derived using moments
extracted from some sets of experimental data on . This value for includes our determination of
the effect of QED on this quantity, .Comment: Added extra discussion on QED setup, some new results to study the
effects of strong isospin breaking in the sea (including new Fig. 1) and a
fit stability plot for the hyperfine splitting (new Fig. 7). Version accepted
for publication in PR
Stability of negative and positive trions in quantum wires
Binding energies of negative () and positive trions () in quantum
wires are studied for strong quantum confinement of carriers which results in a
numerical exactly solvable model. The relative electron and hole localization
has a strong effect on the stability of trions. For equal hole and electron
confinement, is more stable but a small imbalance of the particle
localization towards a stronger hole localization e.g. due to its larger
effective mass, leads to the interchange of and recombination lines
in the photoluminescent spectrum as was recently observed experimentally. In
case of larger stability, a magnetic field oriented parallel to the wire
axis leads to a stronger increase of the binding energy resulting in a
crossing of the and lines
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