285 research outputs found

    Is West African Monetary Zone (WAMZ) a common currency area?

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    In this paper, we test whether the West African Monetary Zone (WAMZ) is a common currency area by using a structural vector autoregressive model to study the variance decomposition, impulse responses of key economic variables and linear dependence of the underlying structural shocks of the countries in the zone. The variance decomposition shows that the zone as a whole does not have common sources of shock, which is expected because of the diverse economic structures of these countries. The correlation of the structural shocks also shows that these countries respond asymmetrically to common supply, demand and monetary shocks and will therefore respond differently to a common monetary policy.It is therefore not in the interest of the individual countries to go into a monetary union now or in the near future unless the economies of these countries converge further

    Remarks on identical particles in de Broglie-Bohm theory

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    It is argued that the topological approach to the (anti-)symmetrisation condition for the quantum state of a collection of identical particles, defined in the `reduced' configuration space, is particularly natural from the perspective of de Broglie-Bohm pilot-wave theory.Comment: RevTeX, 9 pp., to appear in Physics Letters

    First Fruits of the Spitzer Space Telescope: Galactic and Solar System Studies

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    This article provides a brief overview of the Spitzer Space Telescope and discusses its initial scientific results on galactic and solar system science.Comment: Review article to appear in slightly different format in Vol.44 of Annual Reviews of Astronomy and Astrophysics, 200

    Daisyworld: a review

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    Daisyworld is a simple planetary model designed to show the long-term effects of coupling between life and its environment. Its original form was introduced by James Lovelock as a defense against criticism that his Gaia theory of the Earth as a self-regulating homeostatic system requires teleological control rather than being an emergent property. The central premise, that living organisms can have major effects on the climate system, is no longer controversial. The Daisyworld model has attracted considerable interest from the scientific community and has now established itself as a model independent of, but still related to, the Gaia theory. Used widely as both a teaching tool and as a basis for more complex studies of feedback systems, it has also become an important paradigm for the understanding of the role of biotic components when modeling the Earth system. This paper collects the accumulated knowledge from the study of Daisyworld and provides the reader with a concise account of its important properties. We emphasize the increasing amount of exact analytic work on Daisyworld and are able to bring together and summarize these results from different systems for the first time. We conclude by suggesting what a more general model of life-environment interaction should be based on
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