Monetary Policy Strategies

The paper considers the merits of rules and discretion for monetary policy when the structure of the macroeconomic model and the probability distributions of disturbances are not well defined. It is argued that when it is costly to delay policy reactions to seldom-experienced shocks until formal algorithmic learning has been accomplished, and when time consistency problems are significant, a mixed strategy that combines a simple verifiable rule with discretion is attractive. The paper also discusses mechanisms for mitigating credibility problems and emphasizes that arguments against various types of simple rules lost their force under a mixed strategy.

Enhanced CP Violation with B→KD0(D‾0)B\to K D^0 (\overline D^0) Modes and Extraction of the CKM Angle gamma

The Gronau-London-Wyler (GLW) method extracts the CKM angle $\gamma$ by measuring $B^\pm$ decay rates involving $D^0/\overline D^0$ mesons. Since that method necessitates the interference between two amplitudes that are significantly different in magnitude, the resulting asymmetries tend to be small. CP violation can be greatly enhanced for decays to final states that are common to both D^0 and $\overline D^0$ and that are not CP eigenstates. In particular, large asymmetries are possible for final states f such that $D^0\to f$ is doubly Cabibbo suppressed while $\overline D^0\to f$ is Cabibbo allowed. The measurement of interference effects in two such modes allows the extraction of $\gamma$ without prior knowledge of $Br(B^-\to K^- \overline D^0)$, which may be difficult to determine due to backgrounds.Comment: 12 pages, LaTeX, no figure

Entry, Growth, and Survival in the Green Industry

Economists are interested in the factors that induce firm entry, lead to growth, and help firms succeed in various markets. Such information can be helpful to policymakers but, unfortunately, such patterns have not been considered for “green industries.” This paper takes advantage of a recent definition of green industries proposed by the Bureau of Labor Statistics to investigate patterns characterizing these industries within the State of Texas. Leveraging the differences between the five sub-categories within the BLS definition, this study attempts to identify the comparative advantage each county has within the green economy