Output Stabilization in EMU: IS there a Case for EFTS?

Macroeconomic performance in the Economic and Monetary Union (EMU) will be impaired if macroeconomic shocks are largely asymmetric, fiscal policy flexibility is limited, goods markets adjust sluggishly, labour mobility is low and automatic stabilization from federal taxes and government spending is low like in the EU currently.This paper addresses the question whether a system of fiscal transfers to stabilize differences in national business cycles can improve the overall macroeconomic performance in the monetary union.business cycles;output;EMS;monetary policy;fiscal policy

Output Stabilization in EMU:IS there a Case for EFTS?

Macroeconomic performance in the Economic and Monetary Union (EMU) will be impaired if macroeconomic shocks are largely asymmetric, fiscal policy flexibility is limited, goods markets adjust sluggishly, labour mobility is low and automatic stabilization from federal taxes and government spending is low like in the EU currently.This paper addresses the question whether a system of fiscal transfers to stabilize differences in national business cycles can improve the overall macroeconomic performance in the monetary union.

Should Denmark and Sweden Join the Banking Union?

An important policy discussion on joining the banking union is currently taking place in Denmark and Sweden. In this article we review the pros and cons of joining. The main rationale for joining the banking union is the importance of cross-border banking in the EU internal market. Reviewing the banking systems, we find that banks in Denmark and Sweden have the same cross-border characteristics as those in the euro area countries, suggesting a similar rationale for joining the banking union. Moreover, both countries have large banks which may be too big to save at country level, but not at the banking union level. Nevertheless, there are some governance concerns. While euro area countries have an automatic and full say in all banking union arrangements, the non-euro area countries (the ‘out’ countries) lack certain formal powers in ultimate decision-making; however, we find that this may be less of a problem in practice. If necessary, the ‘out’ countries would have the ‘nuclear option’ of leaving the banking union

Heat capacity and pairing transition in nuclei

A simple model based on the canonical-ensemble theory is outlined for hot nuclei. The properties of the model are discussed with respect to the Fermi gas model and the breaking of Cooper pairs. The model describes well the experimental level density of deformed nuclei in various mass regions. The origin of the so-called S-shape of the heat capacity curve Cv(T) is discussed.Comment: 6 pages + 8 figure

The Relationship Between a Lifetime History of Sexual Victimization and Perinatal Depression: A Systematic Review and Meta-Analysis

Background: The association between a lifetime history of sexual victimization and the well-being of women during the perinatal period has received increasing attention. However, research investigating this relationship has yet to be systematically reviewed or quantitatively synthesized. Aim: This systematic review and meta-analysis aims to calculate the pooled effect size estimate of the statistical association between a lifetime history of sexual victimization and perinatal depression (PND). Method: Four bibliographic databases were systematically searched, and reference harvesting was conducted to identify peer-reviewed articles that empirically examined associations between a lifetime history of sexual victimization and PND. A random effects model was used to ascertain an overall pooled effect size estimate in the form of an odds ratio and corresponding 95% confidence intervals (CIs). Subgroup analyses were also conducted to assess whether particular study features and sample characteristic (e.g., race and ethnicity) influenced the magnitude of effect size estimates. Results: This review included 36 studies, with 45 effect size estimates available for meta-analysis. Women with a lifetime history of sexual victimization had 51% greater odds of experiencing PND relative to women with no history of sexual victimization (OR = 1.51, 95% CI [1.35, 1.67]). Effect size estimates varied considerably according to the PND instrument used in each study and the racial/ethnic composition of each sample. Conclusion: Findings provide compelling evidence for an association between a lifetime history of sexual victimization and PND. Future research should focus on screening practices and interventions that identify and support survivors of sexual victimization perinatally

Three-body recombination rates near a Feshbach resonance within a two-channel contact interaction model

We calculate the three-body recombination rate into a shallow dimer in a gas of cold bosonic atoms near a Feshbach resonance using a two-channel contact interaction model. The two-channel model naturally describes the variation of the scattering length through the Feshbach resonance and has a finite effective range. We confront the theory with the available experimental data and show that the two-channel model is able to quantitatively describe the existing data. The finite effective range leads to a reduction of the scaling factor between the recombination minima from the universal value of 22.7. The reduction is larger for larger effective ranges or, correspondingly, for narrower Feshbach resonances.Comment: 9 pages, 7 figure

Working Memory, but Not IQ, Predicts Subsequent Learning in Children with Learning Difficulties

The purpose of the present study was to compare the predictive power of working memory and IQ in children identified as having learning difficulties. The term ‘working memory’ refers to the capacity to store and manipulate information in mind for brief periods of time. Working memory capacity is strongly related to learning abilities and academic progress, predicting current and subsequent scholastic attainments of children across the school years in both literacy and numeracy. Children aged between 7 and 11 years were tested at Time 1 on measures of working memory, IQ, and learning. They were then retested two years later on the learning measures. The findings indicated that working memory capacity and domain-specific knowledge at Time 1, but not IQ, were significant predictors of learning at Time 2. The implications for screening and intervention are discussed

Transverse phase-locking in fully frustrated Josephson junction arrays: a new type of fractional giant steps

We study, analytically and numerically, phase locking of driven vortex lattices in fully-frustrated Josephson junction arrays at zero temperature. We consider the case when an ac current is applied {\it perpendicular} to a dc current. We observe phase locking, steps in the current-voltage characteristics, with a dependence on external ac-drive amplitude and frequency qualitatively different from the Shapiro steps, observed when the ac and dc currents are applied in parallel. Further, the critical current increases with increasing transverse ac-drive amplitude, while it decreases for longitudinal ac-drive. The critical current and the phase-locked current step width, increase quadratically with (small) amplitudes of the ac-drive. For larger amplitudes of the transverse ac-signal, we find windows where the critical current is hysteretic, and windows where phase locking is suppressed due to dynamical instabilities. We characterize the dynamical states around the phase-locking interference condition in the $IV$ curve with voltage noise, Lyapunov exponents and Poincar\'e sections. We find that zero temperature phase-locking behavior in large fully frustrated arrays is well described by an effective four plaquette model.Comment: 12 pages, 11 figure