2,651 research outputs found
Act one, act first â the law on fiscal responsibility
The Law on Fiscal Responsibility adopted late 2008 is a new element in Hungarian fiscal policy, although not without precedent. Under the law, the Parliament and the Government limit themselves to prevent high fiscal deficits and a further increase in public indebtedness, experienced in recent years. Budget planning turns into a three-year process, hardening over time. As a first step, the targeted primary (non-interest) budget balance is subject to the requirement that the stock of government debt cannot rise in real terms. However, ex post, the law allows for deviations in fiscal performance-including those reflecting the effect of so-called automatic stabilizers-attributable to factors beyond the control of the authorities. This means that the actual deficit is not necessarily equal to the deficit path consistent with the real debt limit, but it may fluctuate around this trend over the medium term. In addition, the law prescribes observance of the pay-go principle. Finally, it provides for the establishment of an independent Fiscal Council entrusted with monitoring compliance with the rules and with transparency standards. We evaluated the law according to the KopitsâSymansky criteria applied in the international literature. In most aspects, the law exhibits favourable properties, consistent with the criteria, although inevitably at the expense of simplicity. The assessment suggests that the law would benefit from extending coverage of the rules to local governments. Moreover, enforceability of the rules would be strengthened if the law were adopted by a qualified legislative majority.fiscal rules, budget planning, Fiscal Council.
A Burgess-like subconvex bound for twisted L-functions
Let g be a cuspidal newform (holomorphic or Maass) of arbitrary level and nebentypus, X a primitive character of conductor q, and s a point on the critical line Rs = 1/2. It is proved that
L(g circle times chi, s) 0
is arbitrary and theta = 7/64 is the current known approximation towards the RamannJan-Petersson conjecture (which would allow theta = 0); moreover, the dependence on s and all the parameters of g is polynomial. This result is an analog of Burgess' classical subconvex bound for Dirichlet L-functions. In Appendix 2 the above result is combined with a theorem of Waldspurger and the adelic calculations of Baruch-Mao to yield an improved uniform upper bound for the Fourier coefficients of holomorphic half-integral weight cusp forms
Gravitational radiation reaction in compact binary systems: Contribution of the quadrupole-monopole interaction
The radiation reaction in compact spinning binaries on eccentric orbits due
to the quadrupole-monopole interaction is studied. This contribution is of
second post-Newtonian order. As result of the precession of spins the magnitude
of the orbital angular momentum is not conserved. Therefore a proper
characterization of the perturbed radial motion is provided by the energy
and angular average . As powerful computing tools, the generalized
true and eccentric anomaly parametrizations are introduced. Then the secular
losses in energy and magnitude of orbital angular momentum together with the
secular evolution of the relative orientations of the orbital angular momentum
and spins are found for eccentric orbits by use of the residue theorem. The
circular orbit limit of the energy loss agrees with Poisson's earlier result.Comment: accepted for publication in Phys. Rev.
On the validity of the 5-dimensional Birkhoff theorem: The tale of an exceptional case
The 5-dimensional (5d) Birkhoff theorem gives the class of 5d vacuum
space-times containing spatial hypersurfaces with cosmological symmetries. This
theorem is violated by the 5d vacuum Gergely-Maartens (GM) space-time, which is
not a representant of the above class, but contains the static Einstein brane
as embedded hypersurface. We prove that the 5d Birkhoff theorem is still
satisfied in a weaker sense: the GM space-time is related to the degenerated
horizon metric of certain black-hole space-times of the allowed class. This
result resembles the connection between the Bertotti-Robinson space-time and
the horizon region of the extremal Reissner-Nordstrom space-time in general
relativity.Comment: 13 pages; v2: title amended, to be published in Classical and Quantum
Gravit
Asymmetric Swiss-cheese brane-worlds
We study a brane-world cosmological scenario with local inhomogeneities
represented by black holes. The brane is asymmetrically embedded into the bulk.
The black strings/cigars penetrating the Friedmann brane generate a
Swiss-cheese type structure. This universe forever expands and decelerates, as
its general relativistic analogue. The evolution of the cosmological fluid
however can proceed along four branches, two allowed to have positive energy
density, one of them having the symmetric embedding limit. On this branch a
future pressure singularity can arise for either (a) a difference in the
cosmological constants of the cosmological and black hole brane regions (b) a
difference in the left and right bulk cosmological constants. While the
behaviour (a) can be avoided by a redefinition of the fluid variables, (b)
establishes a critical value of the asymmetry over which the pressure
singularity occurs. We introduce the pressure singularity censorship which
bounds the degree of asymmetry in the bulk cosmological constant. We also show
as a model independent generic feature that the asymmetry source term due to
the bulk cosmological constant increases in the early universe. In order to
obey the nucleosynthesis constraints, the brane tension should be constrained
therefore both from below and from above. With the maximal degree of asymmetry
obeying the pressure singularity censorship, the higher limit is 10 times the
lower limit. The degree of asymmetry allowed by present cosmological
observations is however much less, pushing the upper limit to infinity.Comment: v2: considerably expanded, 19 pages, 8 figures, many new references.
Pressure singularity censorship introduced, strict limits on the possible
degree of asymmetry derived. v3: model independent analysis shows that the
asymmetry bounds the brane tension from above. Limits on the maximal tension
set. Version published in JCA
Spectrum of stochastic evolution operators: Local matrix representation approach
A matrix representation of the evolution operator associated with a nonlinear
stochastic flow with additive noise is used to compute its spectrum. In the
weak noise limit a perturbative expansion for the spectrum is formulated in
terms of local matrix representations of the evolution operator centered on
classical periodic orbits. The evaluation of perturbative corrections is easier
to implement in this framework than in the standard Feynman diagram
perturbation theory. The result are perturbative corrections to a stochastic
analog of the Gutzwiller semiclassical spectral determinant computed to several
orders beyond what has so far been attainable in stochastic and
quantum-mechanical applications.Comment: 7 pages, 2 figures, Third approach to a problem we considered in
chao-dyn/9807034 and chao-dyn/981100
- âŠ