14,997 research outputs found

    Event Integration Patterns in Yoruba

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    How Does Yield Curve Predict GDP Growth? A Macro-Finance Approach Revisited

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    This note analyzes the yield-curve predictability for GDP growth by modifying the time-series property of the interest rate process in Ang, Piazzesi, and Wei (2006). When interest rates have a unit root and term spreads are stationary, the short ratefs forecasting role changes, and the combined information from the short rate and term spread intuitively reveals the relationship between the shift of yield curves and GDP growth.

    Japanese Yield Curves In and Out of a Zero Rate Environmnet: A Macro-Finance Perspective

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    This paper applies a tractable two-regime macro-finance affine term structure model to empirically investigate macroeconomic effects on Japanese government bond (JGB) yields in and out of a zero interest rate environment. The estimated results qualitatively assess how differently deflation and low growth contribute to lowering longer-term JGB yields between the normal and zero rate regimes.

    Nonequilibrium Steady States and MacLennan-Zubarev Ensembles in a Quantum Junction System

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    Based on a recent progress in nonequilibrium statistical mechanics of infinitely extended quantum systems, a nonequlibrium steady state (NESS) is constructed for a single-level quantum dot interacting with two free reservoirs under less general but more practically useful conditions than the previous works. As an example, a model of an Ahoronov-Bohm ring with a quantum dot is studied in detail. Then, NESS is shown to be regarded as a MacLennan-Zubarev ensemble. A formal relation between response and correlation at NESS is derived as well.Comment: submitted to Progress of Theoretical Physic

    Perturbative Matching of the NRQCD Heavy-Light Axial Current

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    A one-loop matching calculation between Lattice NRQCD and full QCD for the heavy-light axial current is described and the effects on f_B are discussed.Comment: Talk presented at Lattice '97, Edinburgh, July 1997. 3 LaTeX pages plus 2 postscript figures. Uses espcrc2.st
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