News, Noise, and Estimates of the "True" Unobserved State of the Economy

Which provides a better estimates of the growth rate of “true” U.S. output, gross domestic product (GDP) or gross domestic income (GDI)? Past work has assumed the idiosyncratic variation in each estimate is pure noise, taking greater variability to imply lower reliability. We develop models that relax this assumption, allowing the idiosyncratic variation in the estimates to be partly or pure news; then greater variability may imply higher information content and greater reliability. Based on evidence from revisions, we reject the pure noise assumption for GDI growth, and our results favor placing sizable weight on GDI growth because of its relatively large idiosyncratic variability. This calls into question the suitability of the pure noise assumption in other contexts, including dynamic factor models.

Ramsey interferometry with an atom laser

We present results on a free-space atom interferometer operating on the first order magnetically insensitive |F=1,mF=0> -> |F=2,mF=0> transition of Bose-condensed 87Rb atoms. A pulsed atom laser is output-coupled from a Bose-Einstein condensate and propagates through a sequence of two internal state beam splitters, realized via coherent Raman transitions between the two interfering states. We observe Ramsey fringes with a visibility close to 100% and determine the current and the potentially achievable interferometric phase sensitivity. This system is well suited to testing recent proposals for generating and detecting squeezed atomic states.Comment: published version, 8 pages, 3 figure

Nonlinear atom interferometer surpasses classical precision limit

Interference is fundamental to wave dynamics and quantum mechanics. The quantum wave properties of particles are exploited in metrology using atom interferometers, allowing for high-precision inertia measurements [1, 2]. Furthermore, the state-of-the-art time standard is based on an interferometric technique known as Ramsey spectroscopy. However, the precision of an interferometer is limited by classical statistics owing to the finite number of atoms used to deduce the quantity of interest [3]. Here we show experimentally that the classical precision limit can be surpassed using nonlinear atom interferometry with a Bose-Einstein condensate. Controlled interactions between the atoms lead to non-classical entangled states within the interferometer; this represents an alternative approach to the use of non-classical input states [4-8]. Extending quantum interferometry [9] to the regime of large atom number, we find that phase sensitivity is enhanced by 15 per cent relative to that in an ideal classical measurement. Our nonlinear atomic beam splitter follows the "one-axis-twisting" scheme [10] and implements interaction control using a narrow Feshbach resonance. We perform noise tomography of the quantum state within the interferometer and detect coherent spin squeezing with a squeezing factor of -8.2dB [11-15]. The results provide information on the many-particle quantum state, and imply the entanglement of 170 atoms [16]

Theoretical Analysis of a Large Momentum Beamsplitter using Bloch Oscillations

In this paper, we present the implementation of Bloch oscillations in an atomic interferometer to increase the separation of the two interfering paths. A numerical model, in very good agreement with the experiment, is developed. The contrast of the interferometer and its sensitivity to phase fluctuations and to intensity fluctuations are also calculated. We demonstrate that the sensitivity to phase fluctuations can be significantly reduced by using a suitable arrangement of Bloch oscillations pulses

Precision Measurement of the Newtonian Gravitational Constant Using Cold Atoms

About 300 experiments have tried to determine the value of the Newtonian gravitational constant, G, so far, but large discrepancies in the results have made it impossible to know its value precisely. The weakness of the gravitational interaction and the impossibility of shielding the effects of gravity make it very difficult to measure G while keeping systematic effects under control. Most previous experiments performed were based on the torsion pendulum or torsion balance scheme as in the experiment by Cavendish in 1798, and in all cases macroscopic masses were used. Here we report the precise determination of G using laser-cooled atoms and quantum interferometry. We obtain the value G=6.67191(99) x 10^(-11) m^3 kg^(-1) s^(-2) with a relative uncertainty of 150 parts per million (the combined standard uncertainty is given in parentheses). Our value differs by 1.5 combined standard deviations from the current recommended value of the Committee on Data for Science and Technology. A conceptually different experiment such as ours helps to identify the systematic errors that have proved elusive in previous experiments, thus improving the confidence in the value of G. There is no definitive relationship between G and the other fundamental constants, and there is no theoretical prediction for its value, against which to test experimental results. Improving the precision with which we know G has not only a pure metrological interest, but is also important because of the key role that G has in theories of gravitation, cosmology, particle physics and astrophysics and in geophysical models.Comment: 3 figures, 1 tabl

Inter-comparison of the g-, f- and p-modes calculated using different oscillation codes for a given stellar model

In order to make astroseismology a powerful tool to explore stellar interiors, different numerical codes should give the same oscillation frequencies for the same input physics. This work is devoted to test, compare and, if needed, optimize the seismic codes used to calculate the eigenfrequencies to be finally compared with observations. The oscillation codes of nine research groups in the field have been used in this study. The same physics has been imposed for all the codes in order to isolate the non-physical dependence of any possible difference. Two equilibrium models with different grids, 2172 and 4042 mesh points, have been used, and the latter model includes an explicit modelling of semiconvection just outside the convective core. Comparing the results for these two models illustrates the effect of the number of mesh points and their distribution in particularly critical parts of the model, such as the steep composition gradient outside the convective core. A comprehensive study of the frequency differences found for the different codes is given as well. These differences are mainly due to the use of different numerical integration schemes. The use of a second-order integration scheme plus a Richardson extrapolation provides similar results to a fourth-order integration scheme. The proper numerical description of the Brunt-Vaisala frequency in the equilibrium model is also critical for some modes. An unexpected result of this study is the high sensitivity of the frequency differences to the inconsistent use of values of the gravitational constant (G) in the oscillation codes, within the range of the experimentally determined ones, which differ from the value used to compute the equilibrium model.Comment: 18 pages, 34 figure

Outsourcing with debt financing

This paper investigates the effect of capital structure on a firm’s choice between vertical integration and outsourcing. We model the production decision in a Principal-Agent framework and show that suppliers use debt as a strategic instrument to collect the surplus from outsourcing as their wealth constraint or limited liability ensures them more attractive compensation schemes. Investigating the buyer’s capital structure, we find that outsourcing with risky debt is more likely to occur for high values of the outsourcing surplus.info:eu-repo/semantics/publishedVersio