An embedded genus-one helicoid

There exists a properly embedded minimal surface of genus one with one end. The end is asymptotic to the end of the helicoid. This genus one helicoid is constructed as the limit of a continuous one-parameter family of screw-motion invariant minimal surfaces--also asymptotic to the helicoid--that have genus equal to one in the quotient.Comment: 115 pages, many figures Minor exposiitonal changes and added reference

International Capital Flows, External Assets and Output Volatility

This paper proposes a new perspective on international capital flows and countries'long-run external asset position. Cross-sectional evidence for 84 developing countries shows that over the last three decades countries that have had on average higher volatility of output growth (1) accumulated higher external assets in the long-run and (2) experienced more procyclical capital outflows over the business cycle than those countries with a same growth rate but a more stable output path. To explain this finding we provide a theoretical mechanism within a stochastic real business cycle growth model in which higher uncertainty of the income stream increases the precautionary savings motive of households. They have a desire to save more when the variance of their expected income stream is higher. We show that in the model the combination of income risk and a precautionary savings motive will lead to procyclical capital outflows at business cycle frequency and a higher long-run external asset position

International Financial Integration and National Price Levels: The Role of the Exchange Rate Regime

How does international financial integration affect national price levels? Panel evidence for 54 industrialized and emerging countries shows that a larger ratio of foreign assets and liabilities to GDP, our measure of international financial integration, increases the national price level under fixed and intermediate exchange rate regimes and lowers the price level under floating exchange rates. This paper formulates a two-country open economy sticky-price model under either segmented or complete asset markets that is able to replicate these stylized facts. It is shown that the effect of financial integration, i.e. moving from segmented to complete asset markets, is regime-dependent. Under managed exchange rates, financial integration raises the national price level. Under floating exchange rates, however, financial integration lowers national price levels. Thus, the paper proposes a novel argument to rationalize systematic deviations from PPP

Mergers and the outside-in formation of dwarf spheroidals

We use a cosmological simulation of the formation of the Local Group to explore the origin of age and metallicity gradients in dwarf spheroidal galaxies. We find that a number of simulated dwarfs form "outside-in", with an old, metal-poor population that surrounds a younger, more concentrated metal-rich component, reminiscent of dwarf spheroidals like Sculptor or Sextans. We focus on a few examples where stars form in two populations distinct in age in order to elucidate the origin of these gradients. The spatial distributions of the two components reflect their diverse origin; the old stellar component is assembled through mergers, but the young population forms largely in situ. The older component results from a first episode of star formation that begins early but is quickly shut off by the combined effects of stellar feedback and reionization. The younger component forms when a late accretion event adds gas and reignites star formation. The effect of mergers is to disperse the old stellar population, increasing their radius and decreasing their central density relative to the young population. We argue that dwarf-dwarf mergers offer a plausible scenario for the formation of systems with multiple distinct populations and, more generally, for the origin of age and metallicity gradients in dwarf spheroidals.Comment: 10 pages, 8 figures, Accepted for publication in MNRA

Planes of satellite galaxies and the cosmic web

Recent observational studies have demonstrated that the majority of satellite galaxies tend to orbit their hosts on highly flattened, vast, possibly co-rotating planes. Two nearly parallel planes of satellites have been confirmed around the M31 galaxy and around the Centaurus A galaxy, while the Milky Way also sports a plane of satellites. It has been argued that such an alignment of satellites on vast planes is unexpected in the standard ({\Lambda}CDM) model of cosmology if not even in contradiction to its generic predictions. Guided by {\Lambda}CDM numerical simulations, which suggest that satellites are channeled towards hosts along the axis of the slowest collapse as dictated by the ambient velocity shear tensor, we re-examine the planes of local satellites systems within the framework of the local shear tensor derived from the Cosmicflows-2 dataset. The analysis reveals that the Local Group and Centaurus A reside in a filament stretched by the Virgo cluster and compressed by the expansion of the Local Void. Four out of five thin planes of satellite galaxies are indeed closely aligned with the axis of compression induced by the Local Void. Being the less massive system, the moderate misalignment of the Milky Way's satellite plane can likely be ascribed to its greater susceptibility to tidal torques, as suggested by numerical simulations. The alignment of satellite systems in the local universe with the ambient shear field is thus in general agreement with predictions of the {\Lambda}CDM model.Comment: 9 pages, 3 figures, 3 tables. Accepted by MNRAS, 9 June 201

Dwarf Galaxies and the Cosmic Web

We use a cosmological simulation of the formation of the Local Group of Galaxies to identify a mechanism that enables the removal of baryons from low-mass halos without appealing to feedback or reionization. As the Local Group forms, matter bound to it develops a network of filaments and pancakes. This moving web of gas and dark matter drifts and sweeps a large volume, overtaking many halos in the process. The dark matter content of these halos is unaffected but their gas can be efficiently removed by ram-pressure. The loss of gas is especially pronounced in low-mass halos due to their lower binding energy and has a dramatic effect on the star formation history of affected systems. This "cosmic web stripping" may help to explain the scarcity of dwarf galaxies compared with the numerous low-mass halos expected in \Lambda CDM and the large diversity of star formation histories and morphologies characteristic of faint galaxies. Although our results are based on a single high-resolution simulation, it is likely that the hydrodynamical interaction of dwarf galaxies with the cosmic web is a crucial ingredient so far missing from galaxy formation models.Comment: Submitted to ApJL. 6 pages, 4 figures. A set of movies showing the interaction between dwarf galaxies and the Cosmic Web can be found at mirror 1 http://www.astro.uvic.ca/~mario/dwarf-web/ or at mirror 2 http://www.iate.oac.uncor.edu/~alejandro/dwarf-web/ . Comments are welcome