Following in Your Parents' Footsteps? Empirical Analysis of Matched Parent-Offspring Test Scores

In this paper, we explore whether an intergenerational relationship exists between the reading and mathematics test scores, taken at ages 7, 11 and 16, of a cohort of individuals born in 1958 and the equivalent test scores of their offspring measured in 1991. Our results suggest that how the parent performs in reading and mathematics during their childhood is positively related to the corresponding reading and mathematics test scores of their offspring as measured at a similar age. Our findings imply that parental ability in numeracy and literacy as a child is positively associated with the ability in numeracy and literacy of their offspring. With respect to gender, a father´s (mother´s) test score generally has a positive influence on the test scores of their daughter (son)

Solar Atmospheric Oscillations and the Chromospheric Magnetic Topology

We investigate the oscillatory properties of the quiet solar chromosphere in relation to the underlying photosphere, with particular regard to the effects of the magnetic topology. We perform a Fourier analysis on a sequence of line-of-sight velocities measured simultaneously in a photospheric (Fe I 709.0 nm) and a chromospheric line (Ca II 854.2 nm). The velocities were obtained from full spectroscopic data acquired at high spatial resolution with the Interferometric BIdimensional Spectrometer (IBIS). The field of view encompasses a full supergranular cell, allowing us to discriminate between areas with different magnetic characteristics. We show that waves with frequencies above the acoustic cut-off propagate from the photosphere to upper layers only in restricted areas of the quiet Sun. A large fraction of the quiet chromosphere is in fact occupied by ``magnetic shadows'', surrounding network regions, that we identify as originating from fibril-like structures observed in the core intensity of the Ca II line. We show that a large fraction of the chromospheric acoustic power at frequencies below the acoustic cut-off, residing in the proximity of the magnetic network elements, directly propagates from the underlying photosphere. This supports recent results arguing that network magnetic elements can channel low-frequency photospheric oscillations into the chromosphere, thus providing a way to input mechanical energy in the upper layers.Comment: 4 pages, 3 figure, A&A Letters in pres

An Examination of Informed Traders and the Market Microstructure of Real Estate Investment Trusts

A significant body of research exists documenting that REITs perform differently from other types of equity securities, although the reasons for these differences are unclear. This study examines the intraday trading behavior of Real Estate Investment Trusts (REITs). Specifically, intraday REIT returns, volume, trading activity, and bid/ask spread are examined in an attempt to better understand the patterns of intraday information flow for a sample of REITs trading on the NYSE. After controlling for differences in market capitalization, share price, and institutional holdings, this paper analyzes differences between REITs and non-REITs, and between REITs that are widely held by institutions and those that are not. The results suggest that, as a group, REITs exhibit lower average volumes and number of trades than do similar non-REITs. In addition, the findings suggest that mortgage REITs trade at spreads that are wider. Surprisingly, the analysis of institutional ownership suggests that equity REITs that are widely held by institutions exhibit the largest divergence from non-REITs in terms of both intraday trading activity and volume, but at the same time trade closer to non-REITs in terms of bid/ask spread. Overall, the results of this study confirm that REITs are treated differently by investors than similar non-REITs, and the institutional ownership findings suggest that trading activity is less important as a determinant of REIT performance than is the level of institutional ownership.

REIT Pricing Efficiency; Should Investors Still Be Concerned?

This study examines the impact of the REIT boom on the market microstructure of REIT common stocks. We analyze NYSE-traded REITs during the pre-boom period (1992) and the post-boom period (1994), and find significant reductions in bid/ask spreads over the period. We also find that the bid/ask spread differential between REITs and non-REITs has been roughly halved between 1991 and 1994. These reductions provide a direct benefit to REIT investors in terms of reduction in transaction costs and improved liquidity, and suggest that the level of uncertainty on the part of the REIT specialist has been reduced.

Quantum effects in the diffusion of hydrogen on Ru(0001)

An understanding of hydrogen diffusion on metal surfaces is important, not just for its role in heterogeneous catalysis and hydrogen fuel cell technology, but also because it provides model systems where tunneling can be studied under well-defined conditions. Here we report helium spin-echo measurements of the atomic-scale motion of hydrogen on the Ru(0001) surface between 75 and 250 K. Quantum effects are evident at temperatures as high as 200 K, while below 120 K we observe a tunneling-dominated temperature independent jump rate of 1.9$\times$10$^9$ s$^{-1}$, many orders of magnitude faster than previously seen. Quantum transition state theory calculations based on ab initio path-integral simulations reproduce the temperature dependence of the rate at higher temperatures and predict a crossover to tunneling-dominated diffusion at low temperatures, although the tunneling rate is under-estimated, highlighting the need for future experimental and theoretical studies of hydrogen diffusion on well-defined surfaces.Comment: 15 pages, 3 figure

Magnetic suspension and balance system advanced study

An improved compact design for a superconducting magnetic suspension and balance system for an 8 ft. x 8 ft. transonic wind tunnel is developed. The original design of an MSBS in NASA Cr-3802 utilized 14 external superconductive coils and a superconductive solenoid in the airplane test model suspended in a wind tunnel. The improvements are in the following areas: test model solenoid options, dynamic force limits on the model, magnet cooling options, structure and cryogenic designs, power supply specifications, and cost and performance evaluations. The improvements are: MSBS cost reduction of 28%, weight; reduction of 43%, magnet system ampere-meter reduction of 38%, helium liquifier capacity reduction by 33%, magnet system stored energy reduction by 55%, AC loss to liquid helium reduced by 76%, system power supply reduced by 68%, test coil pole strength increased by 19%, wing magnetization increased by 40%, and control frequency limit increased by 200% from 10 Hz to 30 Hz. The improvements are due to: magnetic holmium coil forms in the test model, better rare earth permanent magnets in the wings, fiberglass-epoxy structure replacing stainless steel, better coil configuration, and new saddle roll coil design

Repulsive force support system feasibility study

A new concept in magnetic levitation and control is introduced for levitation above a plane. A set of five vertical solenoid magnets mounted flush below the plane supports and controls the model in five degrees of freedom. The compact system of levitation coils is contained in a space 2.4 m (96 in) diameter by 1 m (40 in) deep with the top of the levitation system 0.9 m (36 in) below the center line of the suspended model. The levitated model has a permanent magnet core held in position by the five parallel superconductive solenoids symmetrically located in a circle. The control and positioning system continuously corrects for model position in five dimensions using computer current pulses superimposed on the levitation coil base currents. The conceptual designs include: superconductive and Nd-Fe-B permanent magnet model cores and levitation solenoids of either superconductive, cryoresistive, or room temperature windings

Magnetic suspension and balance system advanced study, 1989 design

The objectives are to experimentally confirm several advanced design concepts on the Magnetic Suspension and Balance Systems (MSBS). The advanced design concepts were identified as potential improvements by Madison Magnetics, Inc. (MMI) during 1984 and 1985 studies of an MSBS utilizing 14 external superconductive coils and a superconductive solenoid in an airplane test model suspended in a wind tunnel. This study confirmed several advanced design concepts on magnetic suspension and balance systems. The 1989 MSBS redesign is based on the results of these experiments. Savings of up to 30 percent in supporting magnet ampere meters and 50 percent in energy stored over the 1985 design were achieved