Forecasting Pre-World War I Inflation: The Fisher Effect Revisited

We consider the puzzling behavior of interest rates and inflation in the United States and the United Kingdom between 1879 and 1913. A deflationary regime prior to 1896 was followed by an inflationary one from 1896 until the beginning of World War I; the average inflation rate was 3.8 percentage points higher in the second period than in the first. Yet nominal interest rates were no higher after 1896 than they had been before. This nonadjustment of nominal interest rates would be consistent with rational expectations if inflation were not forecastable, and indeed univariate tests show little sign of serial correlation in inflation. However, inflation was forecastable on the basis of lagged gold production. Investors' expectations of inflation should have risen by at least three percentage points in the United States between 1890 and 1910. We consider in an information processing context alternative ways of accounting for this failure of interest rates to adjust, for example the possible beliefs that increases in gold production might be transitory. We conclude that the failure of investors to exhibit foresight with regard to the shift in the trend inflation rate after 1896 is not persuasive evidence that investors were negligent or naive in processing information.

Self-interacting dark matter and Higgs bosons in the SU(3)_C x SU(3)_L x U(1)_N model with right-handed neutrinos

We investigate the possibility that dark matter could be made from CP-even and CP- odd Higgs bosons in the SU(3)_C X SU(3)_L X U(1)_N (3-3-1) model with right-handed neutrinos. This self-interacting dark matters are stable without imposing of new symmetry and should be weak-interacting.Comment: 7 pages, Latex, To appear in Europhys. Let

Dynamic magnetic response of infinite arrays of ferromagnetic particles

Recently developed techniques to find the eigenmodes of a ferromagnetic particle of arbitrary shape, as well as the absorption in the presence of an inhomogeneous radio-frequency field, are extended to treat infinite lattices of such particles. The method is applied to analyze the results of recent FMR experiments, and yields substantially good agreement between theory and experiment

Long-range Casimir interactions between impurities in nematic liquid crystals and the collapse of polymer chains in such solvents

The elastic interactions between objects embedded in a nematic liquid crystal are usually caused by the average distorsion-rather than by the fluctuations-of the nematic orientational field. We argue that for sufficiently small particles, the nematic-mediated interaction originates purely from the fluctuations of the nematic director. This Casimir interaction decays as d^(-6), d being the distance between the particles, and it dominates van der Waals interactions close to the isotropic-to-nematic transition. Considering the nematic as a polymer solvent, we show that the onset of this Casimir interaction at the isotropic-to-nematic transition can discontinuously induce the collapse of a flexible polymer chain from the swollen state to the globular state, without crossing the Theta-point.Comment: 6 pages, 1 figur

Circular strategies for social housing associations:Lessons from a Dutch case

The aim of this research is to explore how social housing associations can introduce circular strategies and integrate social elements, next to ecological elements, within these strategies. In order to investigate this aim, this paper first explores the circular strategy options that can be adopted by housing associations. Thereafter, the paper explores how social elements can be integrated within these strategies via the establishment of relationships with communities in the network of housing associations. By performing an in-depth case study, we identified potential circular strategies for housing associations and indicate how community relationships could be established within these strategies. The findings highlight that community relationships in the vision formulation and activities involved in the execution of circular strategies may assist in creating synergies between the ecological aims of circular strategies and the perspectives and needs of communities. On the other hand, the results indicate that not establishing relationships with communities or only establishing relationships in the strategy outcomes may be detrimental to both community needs and the ecological aims of circular strategies. ? 2021 The Author(s). Published by Elsevier Ltd. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/)