Did doubling reserve requirements cause the recession of 1937-1938? a microeconomic approach

In 1936-37, the Federal Reserve doubled the reserve requirements imposed on member banks. Ever since, the question of whether the doubling of reserve requirements increased reserve demand and produced a contraction of money and credit, and thereby helped to cause the recession of 1937-1938, has been a matter of controversy. Using microeconomic data to gauge the fundamental reserve demands of Fed member banks, we find that despite being doubled, reserve requirements were not binding on bank reserve demand in 1936 and 1937, and therefore could not have produced a significant contraction in the money multiplier. To the extent that increases in reserve demand occurred from 1935 to 1937, they reflected fundamental changes in the determinants of reserve demand and not changes in reserve requirements.Money supply ; Bank reserves ; Recessions

Seed Yield Prediction Models of Four Common Moist-Soil Plant Species in Texas

Seed production by moist-soil plant species often varies within and among managed wetlands and on larger landscapes. Quantifying seed production of moist-soil plants can be used to evaluate wetland management strategies and estimate wetland energetic carrying capacity, specifically for waterfowl. In the past, direct estimation techniques were used, but due to excessive personnel and time costs, other indirect methods have been developed. Because indirect seed yield models do not exist for moist-soil plant species in east-central or coastal Texas, we developed direct and indirect methods to model seed production on regional managed wetlands. In September 2004 and 2005, we collected Echinochloa crusgalli (barnyard grass), E. walterii (wild millet), E. colona (jungle rice), and Oryza sativa (cultivated rice) for phytomorphological measurements and seed yield modeling. Initial simple linear and point of origin regression analyses demonstrate strong relationships (P \u3c 0.001) among phytomorphological and dot grid methods in predicting seed production for all four species. These models should help regional wetland managers evaluate moist-soil management success and create models for seed production for other moist-soil plants in this region

On optimum Hamiltonians for state transformations

For a prescribed pair of quantum states |psi_I> and |psi_F> we establish an elementary derivation of the optimum Hamiltonian, under constraints on its eigenvalues, that generates the unitary transformation |psi_I> --> |psi_F> in the shortest duration. The derivation is geometric in character and does not rely on variational calculus.Comment: 5 page

The Fe XXII I(11.92 A)/I(11.77 A) Density Diagnostic Applied to the Chandra High Energy Transmission Grating Spectrum of EX Hydrae

Using the Livermore X-ray Spectral Synthesizer, which calculates spectral models of highly charged ions based primarily on HULLAC atomic data, we investigate the temperature, density, and photoexcitation dependence of the I(11.92 A)/I(11.77 A) line ratio of Fe XXII. We find that this line ratio has a critical density n_c \approx 5x10^13 cm^-3, is approximately 0.3 at low densities and 1.5 at high densities, and is very insensitive to temperature and photoexcitation, so is a useful density diagnostic for sources like magnetic cataclysmic variables in which the plasma densities are high and the efficacy of the He-like ion density diagnostic is compromised by the presence of a bright ultraviolet continuum. Applying this diagnostic to the Chandra High Energy Transmission Grating spectrum of the intermediate polar EX Hya, we find that the electron density of its T_e \approx 12 MK plasma is n_e = 1.0^{+2.0}_{-0.5} x 10^14 cm^-3, orders of magnitude greater than that typically observed in the Sun or other late-type stars.Comment: 11 pages including 3 encapsulated postscript figures; LaTeX format, uses aastex.cls; accepted on 2003 April 3 for publication in The Astrophysical Journa

Aperture excited dielectric antennas

The results of a comprehensive experimental and theoretical study of the effect of placing dielectric objects over the aperture of waveguide antennas are presented. Experimental measurements of the radiation patterns, gain, impedance, near-field amplitude, and pattern and impedance coupling between pairs of antennas are given for various Plexiglas shapes, including the sphere and the cube, excited by rectangular, circular, and square waveguide feed apertures. The waveguide excitation of a dielectric sphere is modeled using the Huygens' source, and expressions for the resulting electric fields, directivity, and efficiency are derived. Calculations using this model show good overall agreement with experimental patterns and directivity measurements. The waveguide under an infinite dielectric slab is used as an impedance model. Calculations using this model agree qualitatively with the measured impedance data. It is concluded that dielectric loaded antennas such as the waveguide excited sphere, cube, or sphere-cylinder can produce directivities in excess of that obtained by a uniformly illuminated aperture of the same cross section, particularly for dielectric objects with dimensions of 2 wavelengths or less. It is also shown that for certain configurations coupling between two antennas of this type is less than that for the same antennas without dielectric loading

HST followup observations of two bright z ~ 8 candidate galaxies from the BoRG pure-parallel survey

We present followup imaging of two bright (L > L*) galaxy candidates at z > 8 from the Brightest of Reionizing Galaxies (BoRG) survey with the F098M filter on HST/WFC3. The F098M filter provides an additional constraint on the flux blueward of the spectral break, and the observations are designed to discriminate between low- and high-z photometric redshift solutions for these galaxies. Our results confirm one galaxy, BoRG 0116+1425 747, as a highly probable z ~ 8 source, but reveal that BoRG 0116+1425 630 - previously the brightest known z > 8 candidate (mAB = 24.5) - is likely to be a z ~ 2 interloper. As this source was substantially brighter than any other z > 8 candidate, removing it from the sample has a significant impact on the derived UV luminosity function in this epoch. We show that while previous BoRG results favored a shallow power-law decline in the bright end of the luminosity function prior to reionization, there is now no evidence for departure from a Schechter function form and therefore no evidence for a difference in galaxy formation processes before and after reionization.Comment: Accepted by ApJL, 7 pages, 4 figure

Measurement of Newtonian fluid slip using a torsional ultrasonic oscillator

The composite torsional ultrasonic oscillator, a versatile experimental system, can be used to investigate slip of Newtonian fluid at a smooth surface. A rigorous analysis of slip-dependent damping for the oscillator is presented. Initially, the phenomenon of finite surface slip and the slip length are considered for a half-space of Newtonian fluid in contact with a smooth, oscillating solid surface. Definitions are revisited and clarified in light of inconsistencies in the literature. We point out that, in general oscillating flows, Navier's slip length b is a complex number. An intuitive velocity discontinuity parameter of unrestricted phase is used to describe the effect of slip on measurement of viscous shear damping. The analysis is applied to the composite oscillator and preliminary experimental work for a 40 kHz oscillator is presented. The Non-Slip Boundary Condition (NSBC) has been verified for a hydrophobic surface in water to within ~60 nm of |b|=0 nm. Experiments were carried out at shear rate amplitudes between 230 and 6800 /s, corresponding to linear displacement amplitudes between 3.2 and 96 nm.Comment: Revised with minor edits for revie