The Properties of the Equity Premium and the Risk-Free Rate: An Investigation Across Time and Countries

We examine the relationship between the equity premium and the risk-free rate over time for Group of Seven countries. We show the existence of subsample instabilities, cross-country differences, and examine whether a consumption-based CAPM model is able to explain the heterogeneity of the data when cross-country and time-series differences in technology parameters are accounted for. We demonstrate that the basic features of the equity premium and risk-free puzzles remain regardless of the sample period and the country considered. Modifications of the basic setup also fall short of providing an explanation for the puzzles. Copyright 2003, International Monetary Fund

On the sources of business cycles in the G-7

This paper examines sources of cyclical movements in output, inflation and the term structure of interest rates. It employs a novel identification approach which uses the sign of the cross correlation function in response to shocks to catalog orthogonal disturbances. We find that demand shocks are the dominant source output, inflation and term structure fluctuations in six of the G-7 countries. Within the class of demand disturbances, nominal shocks are dominant, but their importance declined after 1982. Furthermore, there are no significant differences in the proportion of term structure variability explained by different structural sources at different horizons.Structural shocks, business cycles, demand disturbances, dynamic correlations, impulse responses

Entropy-Transport distances between unbalanced metric measure spaces

Inspired by the recent theory of Entropy-Transport problems and by the $\mathbf{D}$-distance of Sturm on normalised metric measure spaces, we define a new class of complete and separable distances between metric measure spaces of possibly different total mass. We provide several explicit examples of such distances, where a prominent role is played by a geodesic metric based on the Hellinger-Kantorovich distance. Moreover, we discuss some limiting cases of the theory, recovering the "pure transport" $\mathbf{D}$-distance and introducing a new class of "pure entropic" distances. We also study in detail the topology induced by such Entropy-Transport metrics, showing some compactness and stability results for metric measure spaces satisfying Ricci curvature lower bounds in a synthetic sense.Comment: 36 pages. Comments are welcome

3-[2-(1H-1,3-Benzodiazol-2-yl)eth­yl]-1,3-oxazolidin-2-one

In the title compound, C12H13N3O2, the dihedral angle between the oxazolone ring and the benzimidazole unit is 45.0 (5)°, exhibiting a staggered conformation at the Cα—Cβ bond. In the crystal, a strong N—H⋯N hydrogen bond links the mol­ecules into a C(4) chain along the c axis while a C—H⋯O hydrogen-bonding inter­action generates a C(5) chain along the a axis, i.e. perpendicular to the other chain

Polarization preserving ultra fast optical shutter for quantum information processing

We present the realization of a ultra fast shutter for optical fields, which allows to preserve a generic polarization state, based on a self-stabilized interferometer. It exhibits high (or low) transmittivity when turned on (or inactive), while the fidelity of the polarization state is high. The shutter is realized through two beam displacing prisms and a longitudinal Pockels cell. This can represent a useful tool for controlling light-atom interfaces in quantum information processing.Comment: 4 pages, 6 figure

Extracellular vesicles in hepatology: Physiological role, involvement in pathogenesis, and therapeutic opportunities.

Since the first descriptions of hepatocyte-released exosome-like vesicles in 2008, the number of publications describing Extracellular Vesicles (EVs) released by liver cells in the context of hepatic physiology and pathology has grown exponentially. This growing interest highlights both the importance that cell-to-cell communication has in the organization of multicellular organisms from a physiological point of view, as well as the opportunity that these circulating organelles offer in diagnostics and therapeutics. In the present review, we summarize systematically and comprehensively the myriad of works that appeared in the last decade and lighted the discussion about the best opportunities for using EVs in liver disease therapeutics

Resolving the Solar Neutrino Problem with KamLAND

We study how well KamLAND, the first terrestrial neutrino experiment capable of addressing the solar neutrino problem, will perform in ascertaining whether or not the large mixing angle MSW solution (with $10^{-5}<\Delta m_{21}^2< 10^{-4} eV^2$ and oscillation amplitude $sin^2 2 \theta_{12}>0.3$) is correct. We find that in a year of operation KamLAND will provide unequivocal evidence for or against this solution. Furthermore, its sensitivity to the three-neutrino oscillation parameters in this region is sufficiently acute as to determine $\Delta m_{21}^2$ to approximately $\pm 10$ % (for $sin^2 2 \theta_{12}>0.7$) and to fix $sin^2 2 \theta_{12}$ to within $\pm 0.1$ (at the $2\sigma$ level) with three years of accumulated data, independent of the value of $\theta_{13}$.Comment: A typographical error is corrected. "3\sigma" is replaced by "2\sigma" everywher