An Adaptive, Kink-Based Approach to Path Integral Calculations

A kink-based expression for the canonical partition function is developed using Feynman's path integral formulation of quantum mechanics and a discrete basis set. The approach is exact for a complete set of states. The method is tested on the 3x3 Hubbard model and overcomes the sign problem seen in traditional path integral studies of fermion systems. Kinks correspond to transitions between different N-electron states, much in the same manner as occurs in configuration interaction calculations in standard ab initio methods. The different N-electron states are updated, based on which states occur frequently during a Monte Carlo simulation, giving better estimates of the true eigenstates of the Hamiltonian.Comment: 24 pages, to be published in J. Chem. Phy

Innovation, financial development and economic growth in Eurozone countries

Using a panel vector auto-regressive model, we study interactions between innovation, financial development and economic growth in 18 Eurozone countries between 1961 and 2013. We focus on whether causality runs between these variables both ways, one way, the other way or not at all. Our empirical results show that development of the financial sector and enhanced innovative capacity in the Eurozone contribute to longterm economic growth in the countries in the region.http://www.tandfonline.com/loi/rael202018-05-31hb2016Financial Managemen

Causal nexus between economic growth, banking sector development, stock market development, and other macroeconomic variables : the case of ASEAN countries

This paper examines the relationship between banking sector development, stock market development, economic growth, and four other macroeconomic variables in ASEAN countries for the period 1961–2012. Using principal component analysis for the construction of the development indices and a panel vector auto-regressive model for testing the Granger causalities, this study finds the presence of both unidirectional and bidirectional causality links between these variables. The study contributes to understanding the importance of the interrelationship between the variables and combines the different strands of the literature. It also contributes to the literature by focusing on a group of countries that have not been studied before. One particular policy recommendation is to make the banking sector more accessible for those country's inhabitants that do not have bank accounts. Another policy recommendation is to nurture stock market development, which will facilitate the increased raising of capital for investment purposes to enhance economic growth.http:// www.elsevier.com/locate/rfehb2016Financial Managemen

The dynamics of banking sector and stock market maturity and the performance of Asian economies : time series evidence

PURPOSE – The purpose of this paper is to examine the nature of causal relations between banking sector maturity, stock market maturity, and four aspects of performance and operation of the economy: economic growth, inflation, openness in trade, and the degree of government involvement in the economy. DESIGN/METHODOLOGY/APPROACH – The authors look for possible links between the variables by conducting panel cointegration and causality tests, using a large sample of Asian countries over the period 1960-2011. Novel panel data estimation methods allow for robust estimates, using both variation between countries and variation over time. FINDINGS – The study identifies interesting causal links among the variables deriving uniquely from our innovations. In particular, The paper finds that for all regions considered, banking sector maturity and stock market maturity are causally linked, sometimes in both directions. Furthermore, stock market maturity may lead to economic growth, both directly and indirectly through indicators such as inflation and trade openness. The findings also support the notion that economic growth affects the maturity of the stock market in most regions. PRACTICAL IMPLICATIONS – The results lend support to the notion that a mature financial sector is a key contributor to generating economic growth. Furthermore, economic growth itself has the potential to bring about maturity in the financial sector. ORIGINALITY/VALUE – The paper uses sophisticated principal-component analysis, panel cointegration, and Granger causality tests, methods not used in this literature before. The method was applied to recent data pertaining to 35 Asian countries – a group of countries that has previously not been adopted in this literature.http://www.emeraldinsight.com/1026-4116.htmhttp://www.emeraldinsight.com/loi/jeashj201

Dynamic Nuclear Polarization of Deuterated Proteins

For D's a jolly good fellow: Deuteration of proteins significantly increases the signal enhancements observed in dynamic nuclear polarization (DNP) magic-angle spinning (MAS) NMR experiments. In 13C CP-MAS spectra an enhancement of 120 is observed for perdeuterated SH3 with an exchangeable proton ratio of 50 %, whereas the enhancement is only 31 for the fully protonated SH3. The direct 13C excitation of the perdeuterated sample increases the enhancement to 148

The information revolution, innovation diffusion and economic growth : an examination of causal links in European countries

Over the last 5 decades, the economic landscape in Europe has been transformed rapidly due to innovation, digitisation of the economy, and emergence of new sources of growth. However, the complex dynamics among diffusion of innovation, penetration of information and communication technology (ICT), and economic growth have not been adequately studied. This paper investigates the relationships among these three variables for European countries over 1961–2016. The goal is to determine whether the direction of causality among the variables runs both ways, one way, or not at all. Using a vector error-correction model, we find that in the long run, both innovation diffusion and ICT penetration stimulate economic growth. In the short run, however, the causal links are not always uniform and depend on proxies that are used for innovation diffusion and ICT penetration. The results provide valuable insights on the types of policies and strategies that would sustain economic growth in European economies.http://link.springer.com/journal/11135hj2020Financial Managemen

Finance and growth : evidence from the ARF countries

This paper examines the relationships between economic growth and four different types of financial development in ASEAN Regional Forum (ARF) countries over the period 1991–2011. Using principal component analysis (PCA) to construct development indices, and a panel vector auto-regressive model to test for Granger causalities, the study demonstrates unidirectional and bidirectional causality between the variables. The study enhances understanding of the interrelationship between the variables, combining different strands of the literature, and investigating countries previously neglected in this context. The paper recommends making banking more accessible to residents without bank accounts in ARF countries and promoting stock market development to facilitate access to investment capital in order to enhance economic growth.http:// www.elsevier.com/locate/qref2018-11-01hb2017Financial Managemen