How should large and small countries be represented in a currency union?

The likely extension of the euro area has triggered a debate on the organization of the ECB, in particular on the apparent mismatch between relative economic size and voting rights in the Council. We present a simple model of optimal representation in a federal central bank addressing this question. Optimal voting weights reflect two opposing forces: the wish to insulate common monetary policy from changing preferences at the national level, and the attempt to avoid an overly active or passive reaction to idiosyncratic national economic shocks. A perfect match between economic size and voting rights is rarely optimal, and neither is the one country, one vote principle. Empirically, there are indications that the pattern of over- and under-representation of member countries in the ECB Council might be extreme by the standards of the US Fed and German Bundesbank and not always optimal. --Central Bank,Federal Central Bank,currency union,optimal representation,voting,ECB

How should large and small countries be represented in a currency union?

The likely extension of the euro area has triggered a debate on the organization of the ECB, in particular on the apparent mismatch between relative economic size and voting rights in the Council. We present a simple model of optimal representation in a federal central bank addressing this question. Optimal voting weights re ect two opposing forces: the wish to insulate common monetary policy from changing preferences at the national level, and the attempt to avoid an overly active or passive reaction to idiosyncratic national economic shocks. A perfect match between economic size and voting rights is rarely optimal, and neither is the one country, one vote princi- ple . Empirically, there are indications that the pattern of over- and under-representation of member countries in the ECB Council might be extreme by the standards of the US Fed and German Bundesbank and not always optimal

Tournament incentives and corporate fraud

This paper identifies a new incentive for managers to engage in corporate fraud stemming from the relative performance evaluation feature of CEO promotion tournaments. We document higher propensities to engage in fraud for firms with strong tournament incentives (as proxied for by the CEO pay gap). We posit that the relative performance evaluation feature of CEO promotion tournaments creates incentives to manipulate performance, while the option-like character can motivate managers to engage in risky activities. We thereby extend previous corporate fraud literature that focuses mainly on equity-based incentives and reports mixed findings. Our results are robust to using different fraud samples, and controlling for other known determinants of fraud as well as manager skills

Double optical spring enhancement for gravitational-wave detectors

Currently planned second-generation gravitational-wave laser interferometers such as Advanced LIGO exploit the extensively investigated signal-recycling technique. Candidate Advanced LIGO configurations are usually designed to have two resonances within the detection band, around which the sensitivity is enhanced: a stable optical resonance and an unstable optomechanical resonance—which is upshifted from the pendulum frequency due to the so-called optical-spring effect. As an alternative to a feedback control system, we propose an all-optical stabilization scheme, in which a second optical spring is employed, and the test mass is trapped by a stable ponderomotive potential well induced by two carrier light fields whose detunings have opposite signs. The double optical spring also brings additional flexibility in reshaping the noise spectral density and optimizing toward specific gravitational-wave sources. The presented scheme can be extended easily to a multi-optical-spring system that allows further optimization

Deltakende film som metode for bedre medvirkning i planlegging

Denne masteroppgaven undersøker potensialet for deltakende film som en metode for å for bedre medvirkning i planlegging. Til tross for metodens potensial, finnes det lite dokumentasjon for bruk av deltakende film i medvirkning i planlegging i Norge. Gjennom en utforskende tilnærming studeres deltakende films muligheter og utfordringer i medvirkningsprosesser. Litteratur og empiriske studier har vist at deltakende film kan gjøre medvirkning i planlegging mer inkluderende og demokratisk. Metoden kan også få fremme dialog, kritisk refleksjon, en styrket demokratisk prosess, de «stille stemmene», samt bidra til å styrke relasjonene mellom deltakerne og arrangørene. Eksperter innenfor medvirkning ble intervjuet for å bidra med sine innspill om hva det kan forutsette å ta i bruk deltakende film i medvirkning i planlegging. Studien så på hvordan deltakende film bidro under medvirkningsverkstedet Urban Lab Campus Øst. Funnene fra Urban Lab Campus Øst viste at deltakende film kan ha positive effekter på eierskap, kreativitet og effektiv formidling. Deltakerne uttrykte at filmfaglig veiledning var essensielt for å produsere en film på under to dager. Mangelen på felles gjennomgang av filmene gruppene produserte ved medvirkningsverkstedets slutt førte til at deltakende film ikke bidro til myndiggjøring, eller toveis medvirkning. For å kunne bruke deltakende film i medvirkningsprosesser, må det tilrettelegges for metoden i planleggingen, gjennomføringen og evalueringsfasen, med hensyn til tid, ressurser, filmfaglig bistand og personopplysninger. I tillegg bør det legges til rette for felles visning og diskusjon. Det må tas individuelle hensyn til videre bruk og deling av filmene av personvernhensyn. Studien konkluderer med at deltakende film kan bidra til mer inkluderende og demokratiske medvirkningsprosesser samt bidra til å styrke relasjonene mellom deltakere, arrangør og eventuelt forskere. Videre for deltakende film i medvirkning er betinget av å prøve metoden ut gjennom pilotprosjektering eller pilotstudier.This master's thesis examines the potential of participatory video as a method for improving participatory planning. Despite the potential of the method, there is little documentation on the use of participatory video in participatory planning in Norway. Through an exploratory approach, the possibilities, and challenges of participatory video in the participatory planning context is studied. Literature and empirical studies have shown that the use of participatory video can make planning participation more inclusive and democratic. The method can also promote dialogue, critical reflection, a strengthened democratic process, the "silent voices," as well as contribute to strengthening relationships between participants and organizers during participatory workshops. Experts in participation in planning were interviewed to provide their input on what it may require using participatory film in planning participation. This study looked at how participatory video contributed during the participation workshop of Urban Lab Campus Øst. Findings from Urban Lab Campus Øst showed that participatory video can have positive effects on ownership, creativity, and effective communication. Participants expressed that film-specific expertise guidance was essential for producing a film in under two days. The lack of a collective review of the films produced by the groups at the end of the participation workshop led to participatory film not contributing to empowerment or two-way participation. In order to use participatory video in the participation processes in planning, it must be facilitated for the method in the planning phase, implementation phase, and evaluation phase, with regard to available time, resources, film expertise assistance, and the use of private individuals’ data. In addition, arrangements should be made for collective viewing and discussion. Individual considerations must be taken for further use and sharing of the films due to privacy concerns. The study concludes that participatory film can contribute to more inclusive and democratic participation processes in planning, strengthen relationships between the participants, facilitators and eventual scientists. Further use of participatory film in participation is conditional on testing the method through pilot projects or pilot studies

On quantum effects in the dynamics of macroscopic test masses

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Quantum-state steering in optomechanical devices

We show that optomechanical systems in the quantum regime can be used to demonstrate EPR-type quantum entanglement between the optical field and the mechanical oscillator, via quantum-state steering. Namely, the conditional quantum state of the mechanical oscillator can be steered into different quantum states depending the choice made on which quadrature of the out-going field is to be measured via homodyne detection. More specifically, if quantum radiation pressure force dominates over thermal force, the oscillator's quantum state is steerable with a photodetection efficiency as low as 50%, approaching the ideal limit shown by Wiseman and Gambetta [Phys. Rev. Lett. 108, 220402 (2012)]. We also show that requirement for steerability is the same as those for achieving sub-Heisenberg state tomography using the same experimental setup

Implantable defibrillator event rates in patients with idiopathic dilated cardiomyopathy, nonsustained ventricular tachycardia on Holter and a left ventricular ejection fraction below 30%

AbstractObjectivesThis study investigated the incidence of appropriate implantable cardioverter defibrillator (ICD) interventions for ventricular tachycardia (VT) or ventricular fibrillation (VF) in patients with idiopathic dilated cardiomyopathy (IDC) and nonsustained VT in the presence of a left ventricular ejection fraction below 30%, versus in patients with syncope and patients with a history of VT or VF.BackgroundTo date, only limited information is available about the prophylactic use of ICDs in patients with IDC.MethodsFrom January 1993 to July 2000, 101 patients with IDC underwent implantation of ICDs with electrogram storage capability at our institution. Patients were placed into one of three groups according to their clinical presentation: asymptomatic or mildly symptomatic nonsustained VT in the presence of a left ventricular ejection fraction ≤30% (49 patients, prophylactic group), unexplained syncope or near syncope (26 patients, syncope group) and a history of sustained VT or VF (26 patients, VT/VF group).ResultsDuring 36 ± 22 months follow-up, 18 of 49 patients (37%) in the prophylactic group received appropriate shocks for VT or VF, compared with 8 of 26 patients (31%) in the syncope group and with 9 of 26 patients (35%) of the VT/VF group. Multivariate Cox analysis of baseline clinical variables identified left ventricular ejection fraction, atrial fibrillation and a history of sustained VT or VF as predictors for appropriate ICD interventions during follow-up.ConclusionPatients with IDC and prophylactic ICD implantation for nonsustained VT in the presence of a left ventricular ejection fraction ≤30% had an incidence of appropriate ICD interventions similar to that of patients with a history of syncope or sustained VT or VF. These findings indicate that ICDs may have a role in not only secondary but also primary prevention of sudden death in IDC

Creation of a quantum oscillator by classical control

As a pure quantum state is being approached via linear feedback, and the occupation number approaches and eventually goes below unity, optimal control becomes crucial. We obtain theoretically the optimal feedback controller that minimizes the uncertainty for a general linear measurement process, and show that even in the absence of classical noise, a pure quantum state is not always achievable via feedback. For Markovian measurements, the deviation from minimum Heisenberg Uncertainty is found to be closely related to the extent to which the device beats the free-mass Standard Quantum Limit for force measurement. We then specialize to optical Markovian measurements, and demonstrate that a slight modification to the usual input-output scheme -- either injecting frequency independent squeezed vacuum or making a homodyne detection at a non-phase quadrature -- allows controlled states of kilogram-scale mirrors in future LIGO interferometers to reach occupation numbers significantly below unity.Comment: 4 pages, 2 figure

Preparing a mechanical oscillator in non-Gaussian quantum states

We propose a protocol for coherently transferring non-Gaussian quantum states from optical field to a mechanical oscillator. The open quantum dynamics and continuous-measurement process, which can not be treated by the stochastic-master-equation formalism, are studied by a new path-integral-based approach. We obtain an elegant relation between the quantum state of the mechanical oscillator and that of the optical field, which is valid for general linear quantum dynamics. We demonstrate the experimental feasibility of such protocol by considering the cases of both large-scale gravitational-wave detectors and small-scale cavity-assisted optomechanical devices.Comment: 4 pages, 3 figure