The unification bonus (malus) in postwall Eastern Germany

This paper presents estimates of the unification bonus for East Germans over the period 1991 to 1998. The unification bonus is defined as the discounted value of the difference between a person?s actual income and his or her counterfactual real income stream forecast for a hypothetical continuation of economic life in a static GDR. The two main issues tackled in this study are the construction of valid deflators for a comparison of real incomes during the transition from a centralized to a market economy and the estimation of plausible counterfactual income streams. Our central result is that 19 percent of East Germans received a present value malus and so can be regarded as unification losers but that the aggregate bonus is ten times the size of the aggregate malus of the sample. --Real income comparison,income distribution and mobility,economies in transition

The unification bonus (malus) in postwall Eastern Germany

This paper presents estimates of the unification bonus for East Germans over the period 1991 to 1998. The unification bonus is defined as the discounted value of the difference between a person's actual income and his or her counterfactual real income stream forecast for a hypothetical continuation of economic life in a static GDR. The two main issues tackled in this study are the construction of valid deflators for a comparison of real incomes during the transition from a centralized to a market economy and the estimation of plausible counterfactual income streams. Our central result is that 19 percent of East Germans received a present value malus and so can be regarded as unification losers but that the aggregate bonus is ten times the size of the aggregate malus of the sample

G-20-Gipfel in London: ein Durchbruch zur Regulierung der Finanzmärkte?.

Reichen die auf dem G-20-Gipfel beschlossenen Maßnahmen aus, die Finanzmärkte zu regulieren und die Wahrscheinlichkeit zukünftiger Krisen zu senken? Für Rolf J. Langhammer, Institut für Weltwirtschaft, Kiel, dienten die Beschlüsse des G-20-Gipfels der Krisenüberwindung und dem Versuch, ein abgestimmtes Verhalten von nationalen Regulierungsbehörden herbeizuführen. Jenseits beider Ziele blieben aber viele Probleme ungelöst Doris Neuberger, Universität Rostock, sieht in den auf dem G-20-Gipfel beschlossenen Maßnahmen einen Durchbruch zur Stärkung der Überwachung und Regulierung der Finanzmärkte. Allerdings reichten sie nicht aus, um einen systemstabilisierenden funktionsfähigen Wettbewerb sicherzustellen. Nach Ansicht von Hermann A. Wagner, Frankfurt School of Finance & Management, brachten die G-20-Beschlüsse keinen wirklichen Durchbruch bei der Regulierung der Finanzmärkte. Man könne allenfalls von einem Durchbruch für die Erkenntnis, dass es eigentlich nur gemeinsam geht, sprechen. Für Thorsten Polleit, Frankfurt School of Finance & Management, bleibt die Krisenursache, nämlich ÿ»das staatliche System, indem Geld per Kredit geschaffen wird±, durch die Politikmaßnahmen unangetastet. Einen Ausweg aus dem Krisenzyklus sieht er in einem Reformkonzept für gutes Geld in Form des ÿ»Free Banking±, dem ÿ»Privatisieren des Geldes±. Und Irwin Collier, Freie Universität Berlin, befasst sich mit der Regulierung auf den US-Finanzmärkten.Internationaler Finanzmarkt; Finanzmarktkrise; Regulierung; Kapitalmarktliberalisierung; Welt;Foreign direct investment; Employment protection; Domestic anchorage; Uncertainty;

The 0.5MJ transiting exoplanet WASP-13b

We report the discovery of WASP-13b, a low-mass M_{\rm p} = 0.46 ^_~M_J transiting exoplanet with an orbital period of 4.35298 $\pm$ 0.00004 days. The transit has a depth of 9 mmag, and although our follow-up photometry does not allow us to constrain the impact parameter well (0 < b < 0.46), with radius in the range $R_{\rm p}$ ~ 1.06-1.21 RJ the location of WASP-13b in the mass-radius plane is nevertheless consistent with H/He-dominated, irradiated, low core mass and core-free theoretical models. The G1V host star is similar to the Sun in mass (M__ ~M_{\odot}) and metallicity ([M/H] = 0.0$\pm$0.2), but is possibly older ( 8.5^_{\rm -4.9} Gyr)

The rotation of field stars from CoRoT data

We present period measurements of a large sample of field stars in the solar neighbourhood, observed by CoRoT in two different directions of the Galaxy. The presence of a period was detected using the Scargle Lomb Normalized Periodogram technique and the autocorrelation analysis. The assessment of the results has been performed through a consistency verification supported by the folded light curve analysis. The data analysis procedure has discarded a non-negligible fraction of light curves due to instrumental artifacts, however it has allowed us to identify pulsators and binaries among a large number of field stars. We measure a wide range of periods, from 0.25 to 100 days, most of which are rotation periods. The final catalogue includes 1978 periods, with 1727 of them identified as rotational periods, 169 are classified as pulsations and 82 as orbital periods of binary systems. Our sample suffers from selection biases not easily corrected for, thus we do not use the distribution of rotation periods to derive the age distribution of the main-sequence population. Nevertheless, using rotation as a proxy for age, we can identify a sample of young stars (< 600 Myr), that will constitute a valuable sample, supported by further spectroscopic observations, to study the recent star formation history in the solar neighborhood.Comment: 13 pages, 11 figure

Four ultra-short period eclipsing M-dwarf binaries in the WFCAM Transit Survey

We report on the discovery of four ultra-short period (P<0.18 days) eclipsing M-dwarf binaries in the WFCAM Transit Survey. Their orbital periods are significantly shorter than of any other known main-sequence binary system, and are all significantly below the sharp period cut-off at P~0.22 days as seen in binaries of earlier type stars. The shortest-period binary consists of two M4 type stars in a P=0.112 day orbit. The binaries are discovered as part of an extensive search for short-period eclipsing systems in over 260,000 stellar lightcurves, including over 10,000 M-dwarfs down to J=18 mag, yielding 25 binaries with P<0.23 days. In a popular paradigm, the evolution of short period binaries of cool main-sequence stars is driven by loss of angular momentum through magnetised winds. In this scheme, the observed P~0.22 day period cut-off is explained as being due to timescales that are too long for lower-mass binaries to decay into tighter orbits. Our discovery of low-mass binaries with significantly shorter orbits implies that either these timescales have been overestimated for M-dwarfs, e.g. due to a higher effective magnetic activity, or that the mechanism for forming these tight M-dwarf binaries is different from that of earlier type main-sequence stars.Comment: 22 pages, 17 figures, 3 tables Accepted for publication in MNRA

Gravitationally lensed QSOs in the ISSIS/WSO-UV era

Gravitationally lensed QSOs (GLQs) at redshift z = 1-2 play a key role in understanding the cosmic evolution of the innermost parts of active galaxies (black holes, accretion disks, coronas and internal jets), as well as the structure of galaxies at intermediate redshifts. With respect to studies of normal QSOs, GLQ programmes have several advantages. For example, a monitoring of GLQs may lead to unambiguous detections of intrinsic and extrinsic variations. Both kinds of variations can be used to discuss central engines in distant QSOs, and mass distributions and compositions of lensing galaxies. In this context, UV data are of particular interest, since they correspond to emissions from the immediate surroundings of the supermassive black hole. We describe some observation strategies to analyse optically bright GLQs at z of about 1.5, using ISSIS (CfS) on board World Space Observatory-Ultraviolet.Comment: 7 pages, 4 figures, Accepted for publication in Astrophysics & Space Scienc

Discovery and characterization of WASP-6b, an inflated sub-Jupiter mass planet transiting a solar-type star

We report the discovery of WASP-6b, an inflated sub-Jupiter mass planet transiting every 3.3610060^{\rm + 0.0000022 }_ days a mildly metal-poor solar-type star of magnitude V = 11.9. A combined analysis of the WASP photometry, high-precision followup transit photometry and radial velocities yield a planetary mass M_{\rm p} = 0.503^_ $M_{\rm J}$ and radius R_{\rm p} = 1.224^_ $R_{\rm J}$, resulting in a density $\rho_{\rm p} = 0.27 \pm 0.05$ $\rho_{\rm J}$. The mass and radius for the host star are M_\ast = 0.88^_ $M_\odot$ and R_\ast = 0.870^_ $R_\odot$. The non-zero orbital eccentricity e = 0.054^{\rm +0.018}_ that we measure suggests that the planet underwent a massive tidal heating ~1 Gyr ago that could have contributed to its inflated radius. High-precision radial velocities obtained during a transit allow us to measure a sky-projected angle between the stellar spin and orbital axis \beta = 11^_ deg. In addition to similar published measurements, this result favors a dominant migration mechanism based on tidal interactions with a protoplanetary disk

SuperWASP-N extrasolar planet candidates from fields 06h

TheWide Angle Search for Planets (WASP) survey currently operates two installations, designated SuperWASP-N and SuperWASP-S, located in the Northern and Southern hemispheres, respectively. These installations are designed to provide high time-resolution photometry for the purpose of detecting transiting extrasolar planets, asteroids, and transient events. Here, we present results from a transit-hunting observing campaign using SuperWASP-N covering a right ascension (RA) range of 06h &lt; RA &lt; 16h. This paper represents the fifth and final in the series of transit candidates released from the 2004 observing season. In total, 729 335 stars from 33 fields were monitored with 130 566 having sufficient precision to be scanned for transit signatures. Using a robust transit detection algorithm and selection criteria, six stars were found to have events consistent with the signature of a transiting extrasolar planet based on the photometry, including the known transiting planet XO-1b. These transit candidates are presented here along with discussion of follow-up observations and the expected number of candidates in relation to the overall observing strategy