Testing the Unbiasedness Hypothesis in the Forward Foreign Exchange Market: A Specification Analysis

This paper evaluates two popular regression methods of testing the unbiasedness hypothesis in the forward foreign exchange market. For the 30-day Canada/United States forward foreign exchange market, the evidence overwhelmingly indicates that it is inappropriate to treat the structure of the systematic and stochastic components of the test relations as constant over time. Hence, conclusions inferred from parameter significance testing based upon full-sample estimation can be very misleading. Accordingly, we argue for a specification analysis of the test relations, and more explicit modelling of market fundamentals.The financial support of the Social Sciences and Humanities Research Council of Canada and the Advisory Research Committee of Queen's University is acknowledged

Progress in the application of classical S

Methods are described which effectively solve two of the technical difficulties associated with applying classical S‐matrix theory to inelastic/reactive scattering. Specifically, it is shown that rather standard numerical methods can be used to solve the ’’root search’’ problem (i.e., the nonlinear boundary value problem necessary to impose semiclassical quantum conditions at the beginning and the end of the classical trajectories) and also how complex classical trajectories, which are necessary to describe classically forbidden (i.e., tunneling) processes, can be computed in a numerically stable way. Application is made to vibrational relaxation of H{sub 2} by collision with He (within the helicity conserving approximation). The only remaining problem with regard to applying classical S‐matrix theory to complex collision processes has to do with the availability of multidimensional uniform asymptotic formulas for interpolating the ’’primitive’’ semiclassical expressions between their various regions of validity

Dissociative electron attachment to the H2O molecule. II. Nuclear dynamics on coupled electronic surfaces within the local complex potential model

We report the results of a first-principles study of dissociative electron attachment to H2O. The cross sections are obtained from nuclear dynamics calculations carried out in full dimensionality within the local complex potential model by using the multi-configuration time-dependent Hartree method. The calculations employ our previously obtained global, complex-valued, potential-energy surfaces for the three (doublet B1, doublet A1, and doublet B2) electronic Feshbach resonances involved in this process. These three metastable states of H2O- undergo several degeneracies, and we incorporate both the Renner-Teller coupling between the B1 and A1 states as well as the conical intersection between the A1 and B2 states into our treatment. The nuclear dynamics are inherently multidimensional and involve branching between different final product arrangements as well as extensive excitation of the diatomic fragment. Our results successfully mirror the qualitative features of the major fragment channels observed, but are less successful in reproducing the available results for some of the minor channels. We comment on the applicability of the local complex potential model to such a complicated resonant system.Comment: Corrected version of Phys Rev A 75, 012711 (2007

Two-particle interference of electron pairs on a molecular level

We investigate the photo-doubleionization of $H_2$ molecules with 400 eV photons. We find that the emitted electrons do not show any sign of two-center interference fringes in their angular emission distributions if considered separately. In contrast, the quasi-particle consisting of both electrons (i.e. the "dielectron") does. The work highlights the fact that non-local effects are embedded everywhere in nature where many-particle processes are involved

The dynamical Green's function and an exact optical potential for electron-molecule scattering including nuclear dynamics

We derive a rigorous optical potential for electron-molecule scattering including the effects of nuclear dynamics by extending the common many-body Green's function approach to optical potentials beyond the fixed-nuclei limit for molecular targets. Our formalism treats the projectile electron and the nuclear motion of the target molecule on the same footing whereby the dynamical optical potential rigorously accounts for the complex many-body nature of the scattering target. One central result of the present work is that the common fixed-nuclei optical potential is a valid adiabatic approximation to the dynamical optical potential even when projectile and nuclear motion are (nonadiabatically) coupled as long as the scattering energy is well below the electronic excitation thresholds of the target. For extremely low projectile velocities, however, when the cross sections are most sensitive to the scattering potential, we expect the influences of the nuclear dynamics on the optical potential to become relevant. For these cases, a systematic way to improve the adiabatic approximation to the dynamical optical potential is presented that yields non-local operators with respect to the nuclear coordinates.Comment: 22 pages, no figures, accepted for publ., Phys. Rev.

Non-Equilibrium Dynamics in Two-Color, Few-Photon Dissociative Excitation and Ionization of D2_2

D$_2$ molecules, excited by linearly cross-polarized femtosecond extreme ultraviolet (XUV) and near-infrared (NIR) light pulses, reveal highly structured D$^+$ ion fragment momenta and angular distributions that originate from two different 4-step dissociative ionization pathways after four photon absorption (1 XUV + 3 NIR). We show that, even for very low dissociation kinetic energy release $\le$~240~meV, specific electronic excitation pathways can be identified and isolated in the final ion momentum distributions. With the aid of {\it ab initio} electronic structure and time-dependent Schr\"odinger equation calculations, angular momentum, energy, and parity conservation are used to identify the excited neutral molecular states and molecular orientations relative to the polarization vectors in these different photoexcitation and dissociation sequences of the neutral D$_2$ molecule and its D$_2^+$ cation. In one sequential photodissociation pathway, molecules aligned along either of the two light polarization vectors are excluded, while another pathway selects molecules aligned parallel to the light propagation direction. The evolution of the nuclear wave packet on the intermediate \Bstate electronic state of the neutral D$_2$ molecule is also probed in real time.Comment: 11 pages including 6 figure

Herbicide-Resistance in Turf Systems: Insights and Options for Managing Complexity

Due to complex interactions between social and ecological systems, herbicide resistance has classic features of a “wicked problem.” Herbicide-resistant (HR) Poa annua poses a risk to sustainably managing U.S. turfgrass systems, but there is scant knowledge to guide its management. Six focus groups were conducted throughout the United States to gain understanding of socio-economic barriers to adopting herbicide-resistance management practices. Professionals from major turfgrass sectors (golf courses, sports fields, lawn care, and seed/sod production) were recruited as focus-group participants. Discussions emphasized challenges of the weed management of turfgrass systems as compared to agronomic crops. This included greater time constraints for managing weeds and more limited chemical control options. Lack of understanding about the proper use of compounds with different modes of action was identified as a threat to sustainable weed management. There were significant regional differences in perceptions of the existence, geographic scope, and social and ecological causes of HR in managing Poa annua. Effective resistance management will require tailoring chemical and non-chemical practices to the specific conditions of different turfgrass sectors and regions. Some participants thought it would be helpful to have multi-year resistance management programs that are both sector- and species-specific

Regulation of monocyte/macrophage polarisation by extracellular RNA

© Schattauer 2015. Monocytes/macrophages respond to external stimuli with rapid changes in the expression of numerous inflammation-related genes to undergo polarisation towards the M1 (pro-inflammatory) or M2 (antiinflammatory) phenotype. We have previously shown that, independently of Toll-like receptor activation, extracellular RNA (eRNA) could exert pro-thrombotic and pro-inflammatory properties in the cardiovascular system to provoke cytokine mobilisation. Here, mouse bone marrow-derived-macrophages (BMDM) differentiated with mouse macrophage-colony-stimulating factor (M-CSF) were found to be skewed towards the M1 phenotype when exposed to eRNA. This resulted in up-regulated expression of inflammatory markers such as Tnf-α and Il-6, together with Il-12 and iNOS, whereas anti-inflammatory genes such as chitinase-like proteins (Ym1/2) and macrophage mannose receptor-2 (Cd206) were significantly down-regulated. Human peripheral blood monocytes were treated with eRNA and analysed by micro-array analysis of the whole human genome, revealing an up-regulation of 79 genes by at least four-fold; 27 of which are related to signal transduction and 15 genes associated with inflammatory response. In accordance with the proposed actions of eRNA as a pro-inflammatory “alarm signal”, these data shed light on the role of eRNA in the context of chronic inflammatory diseases such as atherosclerosis

Dissociative electron attachment to carbon dioxide via the 8.2 eV Feshbach resonance

Momentum imaging experiments on dissociative electron attachment (DEA) to CO{sub 2} are combined with the results of ab initio calculations to provide a detailed and consistent picture of the dissociation dynamics through the 8.2 eV resonance, which is the major channel for DEA in CO{sub 2}. The present study resolves several puzzling misconceptions about this system

First Results from HaloSat – A CubeSat to Study the Hot Galactic Halo

HaloSat is the first CubeSat for astrophysics funded by NASA\u27s Science Mission Directorate and is designed to map soft X-ray oxygen line emission across the sky in order to constrain the mass and spatial distribution of hot gas in the Milky Way. HaloSat will help determine if hot halos with temperatures near a million degrees bound to galaxies make a significant contribution to the cosmological budget of the normal matter (baryons). HaloSat was deployed from the International Space Station in July 2018 and began routine science operations in October 2018. We describe the on-orbit performance including calibration of the X-ray detectors and initial scientific results including an observation of a halo field and an observation of solar wind charge exchange emission from the helium-focusing cone