The Monterey event in the Mediterranean: A record from shelf sediments of Malta

Oligo-Miocene carbonate platform and shelf sediments outcropping on the Maltese Islands provide an excellent archive of the paleoceanography of the central Mediterranean. A sequence of shallow water limestones, than shelf limestones, and marls, followed again by shallow water limestones, reflects drowning of a carbonate platform, the establishment of a shelf environment and, in the late Miocene, renewed progradation and aggradation of shallow water carbonates. The sequence recording the deepening of the Maltese platform contains several phosphorite hardgrounds and phosphorite pebble beds. These phosphorites were dated with strontium isotopes. Major episodes of phosphogenesis occurred between 25 and 16 Ma, and they are coeval with those phosphorite events reported from Florida and North Carolina. A Miocene carbon isotope and oxygen isotope stratigraphy was established on planktic and benthic foraminifera and on bulk samples. A major carbon isotope excursion with an amplitude of up to +l‰ between 18 and 12.5 Ma can be correlated with the globally recognized Monterey carbon isotope excursion. This is the first record of this event both in shallow water sediments and in the Mediterranean. The carbon isotope excursion precedes an oxygen isotope excursion which also was recognized in deep-sea records. Major episodes of phosphogenesis and platform drowning preceded the carbon isotope excursion by up to millions of years

GMM Estimation of Fixed Effects Dynamic Panel Data Models with Spatial Lag and Spatial Errors

We extend the three-step generalized methods of moments (GMM) approach of Kapoor et al. (2007), which corrects for spatially correlated errors in static panel data models, by introducing a spatial lag and a one-period lag of the dependent variable as additional explanatory variables. Combining the extended Kapoor et al. (2007) approach with the dynamic panel data model GMM estimators of Arellano and Bond (1991) and Blundell and Bond (1998) and specifying moment conditions for various time lags, spatial lags, and sets of exogenous variables yields new spatial dynamic panel data estimators. We prove their consistency and asymptotic normality for a large number of spatial units N and a xed small number of time periods T. Monte Carlo simulations demonstrate that the root mean squared error of spatially corrected GMM estimates|which are based on a spatial lag and spatial error correction|is generally smaller than that of corresponding spatial GMM estimates in which spatial error correlation is ignored. We show that the spatial Blundell-Bond estimators outperform the spatial Arellano-Bond estimators.Dynamic panel models;spatial lag;spatial error;GMM estimation

Threshold Effects of Energy Price Changes

The effectiveness of policies to reduce the use of energy depend on the elasticity of substitution between the various inputs and on the rate of technological progress. This paper presents a theoretical model emphasising energy investments’ characteristics of uncertainty and irreversibility that result in hypotheses concerning the relative values of substitution parameters and rates of technological change in periods of high and increasing energy prices and in periods of low prices. The theoretical model suggests that threshold level effects exist. Firms are induced to substitute away from energy only if prices of energy exceed a certain threshold level and they reverse the technology only if prices are low enough. Using panel data for the Dutch economy we do not find threshold effects in the level of energy prices.

Threshold effects of energy price changes

This paper presents a theoretical model emphasising energy investments’ characteristics of uncertainty and irreversibility. The theoretical model suggests threshold effects. Firms are induced to substitute away from energy only if prices of energy exceed a certain threshold level and they reverse the technology only if energy prices are low enough. Estimating a simple investment relation using panel data for the Dutch economy, we find evidence for threshold effects.

Locally Optimal Control of Quantum Systems with Strong Feedback

For quantum systems with high purity, we find all observables that, when continuously monitored, maximize the instantaneous reduction in the von Neumann entropy. This allows us to obtain all locally optimal feedback protocols with strong feedback, and explicit expressions for the best such protocols for systems of size N <= 4. We also show that for a qutrit the locally optimal protocol is the optimal protocol for a given range of control times, and derive an upper bound on all optimal protocols with strong feedback.Comment: 4 pages, Revtex4. v2: published version (some errors corrected

Why didn't the Global Financial Crisis hit Latin America?

Latin America has a rich history of financial crises. However, it was relatively unharmed by the 2007-2009 Global Financial Crisis (GFC). This paper investigates why, and in particular the role of commodity prices and its institutional framework - in line with the fourth generation financial crisis model. We set up Early Warning Systems (EWS) for Argentina, Brazil and Mexico. These consist of an ordered logit model for currency crises for the period 1990-2007 with a dynamic factor model to deal with the large number of explanatory variables. We present forecasts for the period 2008-2009. We find that international indicators play an important role in explaining currency crises in Mexico, while banking indicators and commodities explain the currency crisis in Argentina and Brazil. Furthermore, debt and domestic economy indicators are relevant for Argentina and Mexico. Finally, we observe that currency crises in all three countries are related to institutional indicators. For none of the countries the Early Warning System would have issued an early warning for the GFC.Financial crises, Early Warning Systems, Latin America, dynamic factor models, ordered logit model,

Absolute Dynamical Limit to Cooling Weakly-Coupled Quantum Systems

Cooling of a quantum system is limited by the size of the control forces that are available (the "speed" of control). We consider the most general cooling process, albeit restricted to the regime in which the thermodynamics of the system is preserved (weak coupling). Within this regime, we further focus on the most useful control regime, in which a large cooling factor, and good ground-state cooling can be achieved. We present a control protocol for cooling, and give clear structural arguments, as well as strong numerical evidence, that this protocol is globally optimal. From this we obtain simple expressions for the limit to cooling that is imposed by the speed of control.Comment: 4 pages, Revetex4-1, 2 png figure

Spin transport in a unitary Fermi gas close to the BCS transition

We consider spin transport in a two-component ultracold Fermi gas with attractive interspecies interactions close to the BCS pairing transition. In particular, we consider the spin-transport relaxation rate and the spin-diffusion constant. Upon approaching the transition, the scattering amplitude is enhanced by pairing fluctuations. However, as the system approaches the transition, the spectral weight for excitations close to the Fermi level is decreased by the formation of a pseudogap. To study the consequence of these two competing effects, we determine the spin-transport relaxation rate and the spin-diffusion constant using both a Boltzmann approach and a diagrammatic approach. The former ignores pseudogap physics and finite lifetime effects. In the latter, we incorporate the full pseudogap physics and lifetime effects, but we ignore vertex corrections, so that we effectively calculate single-particle relaxation rates instead of transport relaxation rates. We find that there is qualitative agreement between these two approaches although the results for the transport coefficients differ quantitatively.Comment: 9 pages, 10 figure

Entropic particle transport: higher order corrections to the Fick-Jacobs diffusion equation

Transport of point-size Brownian particles under the influence of a constant and uniform force field through a three-dimensional channel with smoothly varying periodic cross-section is investigated. Here, we employ an asymptotic analysis in the ratio between the difference of the widest and the most narrow constriction divided through the period length of the channel geometry. We demonstrate that the leading order term is equivalent to the Fick-Jacobs approximation. By use of the higher order corrections to the probability density we derive an expression for the spatially dependent diffusion coefficient D(x) which substitutes the constant diffusion coefficient present in the common Fick-Jacobs equation. In addition, we show that in the diffusion dominated regime the average transport velocity is obtained as the product of the zeroth-order Fick-Jacobs result and the expectation value of the spatially dependent diffusion coefficient . The analytic findings are corroborated with the precise numerical results of a finite element calculation of the Smoluchowski diffusive particle dynamics occurring in a reflection symmetric sinusoidal-shaped channel.Comment: 9 pages, 3 figure

Flow establishment in a generic scramjet combustor

The establishment of a quasi-steady flow in a generic scramjet combustor was studied for the case of a time varying inflow to the combustor. Such transient flow is characteristic of the reflected shock tunnel and expansion tube test facilities. Several numerical simulations of hypervelocity flow through a straight duct combustor with either a side wall step fuel injector or a centrally located strut injector are presented. Comparisons were made between impulsively started but otherwise constant flow conditions (typical of the expansion tube or tailored operations of the reflected shock tunnel) and the relaxing flow produced by the 'undertailored' operations of the reflected shock tunnel. Generally the inviscid flow features, such as the shock pattern and pressure distribution, were unaffected by the time varying inlet conditions and approached steady state in approx. the times indicated by experimental correlations. However, viscous features, such as heat transfer and skin friction, were altered by the relaxing inlet flow conditions