The role of oil prices in monetary policy rules: evidence from 4 major central banks

Recent movements in oil prices on international markets have generated many comments on the role that oil prices may play for Central Banks of oil-importing countries, oil price shocks being interpreted as supply shocks leading to higher inflation rates and lower economic growth. In this paper, we examine the role played by oil prices in the monetary policy strategy of 4 major Central Banks: the U.S. Federal Reserve, the ECB, the Bank of Canada and the Bank of England. Using an Ordered Probit model, we assess the reaction of each Central Bank to oil price changes and investigate a potential asymmetric response to oil price increases and decreases. Our results suggest that the role of oil price for Central Bankers may be very different depending on the objectives and the strategy of each Central Bank regarding inflation and output stabilization.Oil prices, Monetary policy, Taylor rule, Asymmetry

Behavioural interventions for weight management in pregnancy: A systematic review of quantitative and qualitative data

Objective: To assess the effectiveness of dietary with or without physical activity interventions to prevent excessive weight gain in pregnancy and explore the factors that influence intervention effectiveness. Design: Systematic review, including a meta-analysis of controlled trials of interventions to prevent excessive weight gain during pregnancy and a thematic synthesis of qualitative studies that investigated the views of women on weight management during pregnancy. Data sources: Eleven electronic bibliographic databases, reference list of included studies, relevant review articles and experts in the field. Review methods: Two independent reviewers extracted data. RevMan software was used to perform the meta-analyses. Qualitative data was subject to thematic analysis. Both quantitative and qualitative data were aligned using a matrix framework. Results: Five controlled trials and nine qualitative studies were included. The overall pooled effect size found no significant difference in gestational weight gain amongst participants in the interventions group compared with the control group (mean difference -1.88kg CI -4.34 to 0.59). The study designs, participants and interventions all varied markedly and there was significant heterogeneity within this comparison in the meta-analysis (I2 76%). Subgroup and sensitivity analysis did not identify contextual elements that influenced the effectiveness of the intervention. In a thematic analysis of the qualitative studies, three major themes emerged relating to women’s views of weight management in pregnancy; pregnancy as a time of transition and change, conflicting and contradictory messages, a perceived lack of control. When the results of both quantitative and qualitative data were aligned it was clear that some of the barriers that women described in achieving healthy weight gain in pregnancy were not addressed by the interventions evaluated. This may have contributed to the limited effectiveness of the interventions. Conclusions: Despite intense and often tailored interventions there was no statistically significant effect on weight gain during pregnancy. Inadequate and often contradictory information regarding healthy weight management was reported by women in qualitative studies and this was addressed in the interventions but in itself was insufficient to lead to reduced weight gain. Multiple types of interventions, including community based strategies, are needed to address this complex health problem

Reply to "Comment on `Quenches in quantum many-body systems: One-dimensional Bose-Hubbard model reexamined' ''

In his Comment [see preceding Comment, Phys. Rev. A 82, 037601 (2010)] on the paper by Roux [Phys. Rev. A 79, 021608(R) (2009)], Rigol argued that the energy distribution after a quench is not related to standard statistical ensembles and cannot explain thermalization. The latter is proposed to stem from what he calls the eigenstate thermalization hypothesis and which boils down to the fact that simple observables are expected to be smooth functions of the energy. In this Reply, we show that there is no contradiction or confusion between the observations and discussions of Roux and the expected thermalization scenario discussed by Rigol. In addition, we emphasize a few other important aspects, in particular the definition of temperature and the equivalence of ensemble, which are much more difficult to show numerically even though we believe they are essential to the discussion of thermalization. These remarks could be of interest to people interested in the interpretation of the data obtained on finite-size systems.Comment: 3 page

Euler buckling instability and enhanced current blockade in suspended single-electron transistors

Single-electron transistors embedded in a suspended nanobeam or carbon nanotube may exhibit effects originating from the coupling of the electronic degrees of freedom to the mechanical oscillations of the suspended structure. Here, we investigate theoretically the consequences of a capacitive electromechanical interaction when the supporting beam is brought close to the Euler buckling instability by a lateral compressive strain. Our central result is that the low-bias current blockade, originating from the electromechanical coupling for the classical resonator, is strongly enhanced near the Euler instability. We predict that the bias voltage below which transport is blocked increases by orders of magnitude for typical parameters. This mechanism may make the otherwise elusive classical current blockade experimentally observable.Comment: 15 pages, 10 figures, 1 table; published versio

Correlation functions of one-dimensional Bose-Fermi mixtures

We calculate the asymptotic behaviour of correlation functions as a function of the microscopic parameters for a Bose-Fermi mixture with repulsive interaction in one dimension. For two cases, namely polarized and unpolarized fermions the singularities of the momentum distribution functions are characterized as a function of the coupling constant and the relative density of bosons.Comment: RevTeX 4, 10 pages, 2 figure

Non-equilibrium Transport in the Anderson model of a biased Quantum Dot: Scattering Bethe Ansatz Phenomenology

We derive the transport properties of a quantum dot subject to a source-drain bias voltage at zero temperature and magnetic field. Using the Scattering Bethe Anstaz, a generalization of the traditional Thermodynamic Bethe Ansatz to open systems out of equilibrium, we derive exact results for the quantum dot occupation out of equilibrium and, by introducing phenomenological spin- and charge-fluctuation distribution functions in the computation of the current, obtain the differential conductance for large U/\Gamma. The Hamiltonian to describe the quantum dot system is the Anderson impurity Hamiltonian and the current and dot occupation as a function of voltage are obtained numerically. We also vary the gate voltage and study the transition from the mixed valence to the Kondo regime in the presence of a non-equilibrium current. We conclude with the difficulty we encounter in this model and possible way to solve them without resorting to a phenomenological method.Comment: 20 pages, 20 figures, published versio

Plasmonic interferometry: probing launching dipoles in scanning-probe plasmonics

We develop a semi-analytical method for analyzing surface plasmon interferometry using near-field scanning optical sources. We compare our approach to Young double hole interferometry experiments using scanning tunneling microscope (STM) discussed in the literature and realize experiments with an aperture near-field scanning optical microscope (NSOM) source positioned near a ring like aperture slit milled in a thick gold film. In both cases the agreement between experiments and model is very good. We emphasize the role of dipole orientations and discuss the role of magnetic versus electric dipole contributions to the imaging process as well as the directionality of the effective dipoles associated with the various optical and plasmonic sources.Comment: To appear in Journal of Applied Physics (2014

Higher-order spin effects in the dynamics of compact binaries II. Radiation field

Motivated by the search for gravitational waves emitted by binary black holes, we investigate the gravitational radiation field of point particles with spins within the framework of the multipolar-post-Newtonian wave generation formalism. We compute: (i) the spin-orbit (SO) coupling effects in the binary's mass and current quadrupole moments one post-Newtonian (1PN) order beyond the dominant effect, (ii) the SO contributions in the gravitational-wave energy flux and (iii) the secular evolution of the binary's orbital phase up to 2.5PN order. Crucial ingredients for obtaining the 2.5PN contribution in the orbital phase are the binary's energy and the spin precession equations, derived in paper I of this series. These results provide more accurate gravitational-wave templates to be used in the data analysis of rapidly rotating Kerr-type black-hole binaries with the ground-based detectors LIGO, Virgo, GEO 600 and TAMA300, and the space-based detector LISA.Comment: includes the correction of an erratum to be published in Phys. Rev.

On the structure of the post-Newtonian expansion in general relativity

In the continuation of a preceding work, we derive a new expression for the metric in the near zone of an isolated matter system in post-Newtonian approximations of general relativity. The post-Newtonian metric, a solution of the field equations in harmonic coordinates, is formally valid up to any order, and is cast in the form of a particular solution of the wave equation, plus a specific homogeneous solution which ensures the asymptotic matching to the multipolar expansion of the gravitational field in the exterior of the system. The new form provides some insights on the structure of the post-Newtonian expansion in general relativity and the gravitational radiation reaction terms therein.Comment: 22 pages, to appear in Phys. Rev.

International Market Integration for Natural Gas?: A Cointegration Analysis of Prices in Europe, North America and Japan

We examine the degree of natural gas market integration in Europe, North America and Japan, between the mid 1990's and 2002. The relationship between the international gas marker prices, and their relation to the oil price, are investigated through principal component analysis and Johansen likelihood-based procedures. Both of them show a high level of integration within the European/Japanese and North American markets; but they also show that the European resp. Japanese and the North American markets were not integrated.Market Integration, gas markets, cointegration test, globalization