An Empirical Analysis of the Canadian Term Structure of Zero-Coupon Interest Rates

Zero-coupon interest rates are the fundamental building block of fixed-income mathematics, and as such have an extensive number of applications in both finance and economics. The risk-free government zero-coupon term structure is, however, not directly observable and needs to be generated from the prices of marketable, coupon-bearing bonds. The authors introduce the first public-domain database of constant-maturity zero-coupon yield curves for the Government of Canada bond market. They first outline the mechanics of the curve-fitting algorithm that underlie the model, and then perform some preliminary statistical analysis on the resulting yield curves. The full sample period extends from January 1986 to May 2003; it is broken down into two subsamples, reflecting the structural and macroeconomic changes that impacted the Canadian fixed-income markets over that time. The authors examine the evolution of a number of key interest rates and yield-curve measures over the period, perform a principal-components analysis of the common factors that have influenced yield changes over time, and compare holding-period returns over the sample for assets of various maturities.Financial markets; Interest rates; Econometric and statistical methods

Theoretical characterization of a model of aragonite crystal orientation in red abalone nacre

Nacre, commonly known as mother-of-pearl, is a remarkable biomineral that in red abalone consists of layers of 400-nm thick aragonite crystalline tablets confined by organic matrix sheets, with the $(001)$ crystal axes of the aragonite tablets oriented to within $\pm$ 12 degrees from the normal to the layer planes. Recent experiments demonstrate that this orientational order develops over a distance of tens of layers from the prismatic boundary at which nacre formation begins. Our previous simulations of a model in which the order develops because of differential tablet growth rates (oriented tablets growing faster than misoriented ones) yield patterns of tablets that agree qualitatively and quantitatively with the experimental measurements. This paper presents an analytical treatment of this model, focusing on how the dynamical development and eventual degree of order depend on model parameters. Dynamical equations for the probability distributions governing tablet orientations are introduced whose form can be determined from symmetry considerations and for which substantial analytic progress can be made. Numerical simulations are performed to relate the parameters used in the analytic theory to those in the microscopic growth model. The analytic theory demonstrates that the dynamical mechanism is able to achieve a much higher degree of order than naive estimates would indicate.Comment: 20 pages, 3 figure

The entropy and energy of intergalactic gas in galaxy clusters

Studies of the X-ray surface brightness profiles of clusters, coupled with theoretical considerations, suggest that the breaking of self-similarity in the hot gas results from an `entropy floor', established by some heating process, which affects the structure of the intracluster gas strongly in lower mass systems. Fitting analytical models for the radial variation in gas density and temperature to X-ray spectral images from the ROSAT PSPC and ASCA GIS, we derive gas entropy profiles for 20 galaxy clusters and groups. Scaling these profiles to coincide in the self-similar case, the lowest mass systems are found to have higher scaled entropy profiles than more massive systems. This appears to be due to a baseline entropy of 70-140 h50^-1/3 keV cm^2, depending on the extent to which shocks have been suppressed in low mass systems. The extra entropy may be present in all systems, but is detectable only in poor clusters, compared to the entropy generated by gravitational collapse. This excess entropy appears to be distributed uniformly with radius outside the central cooling regions. We determine the energy associated with this entropy floor, by studying the net reduction in binding energy of the gas in low mass systems, and find that it corresponds to a preheating temperature of ~0.3 keV. Since the relationship between entropy and energy injection depends upon gas density, we can combine the excesses of 70-140 keV cm^2 and 0.3 keV to derive the typical electron density of the gas into which the energy was injected. The resulting value of 1-3x10^-4 h50^1/2 cm-3, implies that the heating must have happened prior to cluster collapse but after a redshift z~7-10. The energy requirement is well matched to the energy from supernova explosions responsible for the metals which now pollute the intracluster gas.Comment: 15 pages, 10 figures, accepted for publication in MNRA

Primary Health Care: Potential Home for Family-Focused Preventive Interventions

Family-focused prevention programs have been shown to effectively reduce a range of negative behavioral health outcomes but have had limited reach. Three key barriers must be overcome to expand the reach of family-focused prevention programs and thereby achieve a significant public health impact. These barriers are (1) current social norms and perceptions of parenting programs; (2) concerns about the expertise and legitimacy of sponsoring organizations to offer parenting advice; and (3) a paucity of stable, sustainable funding mechanisms. Primary healthcare settings are well positioned to overcome these barriers. Recent changes within health care make primary care settings an increasingly favorable home for family-focused prevention and suggest possibilities for sustainable funding of family-focused prevention programs. This paper discusses the existing advantages of primary care settings and lays out a plan to move toward realizing the potential public health impact of family-focused prevention through widespread implementation in primary healthcare settings

XMM−NewtonXMM-Newton Ω\Omega project: III. Gas mass fraction shape in high redshift clusters

We study the gas mass fraction, $f\_{\rm gas},$ behavior in $XMM-Newton$ $\Omega$ project. The typical $f\_{\rm gas}$ shape of high redshift galaxy clusters follows the global shape inferred at low redshift quite well. This result is consistent with the gravitational instability picture leading to self similar structures for both the dark and baryonic matter. However, the mean $f\_{\rm gas} in distant clusters shows some differences to local ones, indicating a departure from strict scaling. This result is consistent with the observed evolution in the luminosity-temperature relation. We quantitatively investigate this departure from scaling laws. Within the local sample we used, a moderate but clear variation of the amplitude of the gas mass fraction with temperature is found, a trend that weakens in the outer regions. These variations do not explain departure from scaling laws of our distant clusters. An important implication of our results is that the gas fraction evolution, a test of the cosmological parameters, can lead to biased values when applied at radii smaller than the virial radius. From our$XMM$ clusters, the apparent gas fraction at the virial radius is consistent with a non-evolving universal value in a high matter density model and not with a concordance.Comment: Accepted, A&A, in pres

Primary Health Care Potential Home for Family-Focused Preventive Interventions

Family-focused prevention programs have been shown to effectively reduce a range of negative behavioral health outcomes but have had limited reach. Three key barriers must be overcome to expand the reach of family-focused prevention programs and thereby achieve a significant public health impact. These barriers are (1) current social norms and perceptions of parenting programs; (2) concerns about the expertise and legitimacy of sponsoring organizations to offer parenting advice; and (3) a paucity of stable, sustainable funding mechanisms. Primary healthcare settings are well positioned to overcome these barriers. Recent changes within health care make primary care settings an increasingly favorable home for family-focused prevention and suggest possibilities for sustainable funding of family-focused prevention programs. This paper discusses the existing advantages of primary care settings and lays out a plan to move toward realizing the potential public health impact of family-focused prevention through widespread implementation in primary healthcare settings

LoCuSS: The Sunyaev-Zel'dovich Effect and Weak Lensing Mass Scaling Relation

We present the first weak-lensing-based scaling relation between galaxy cluster mass, M_wl, and integrated Compton parameter Y_sph. Observations of 18 galaxy clusters at z~0.2 were obtained with the Subaru 8.2-m telescope and the Sunyaev-Zel'dovich Array. The M_wl-Y_sph scaling relations, measured at Delta=500, 1000, and 2500 rho_c, are consistent in slope and normalization with previous results derived under the assumption of hydrostatic equilibrium (HSE). We find an intrinsic scatter in M_wl at fixed Y_sph of 20%, larger than both previous measurements of M_HSE-Y_sph scatter as well as the scatter in true mass at fixed Y_sph found in simulations. Moreover, the scatter in our lensing-based scaling relations is morphology dependent, with 30-40% larger M_wl for undisturbed compared to disturbed clusters at the same Y_sph at r_500. Further examination suggests that the segregation may be explained by the inability of our spherical lens models to faithfully describe the three-dimensional structure of the clusters, in particular, the structure along the line-of-sight. We find that the ellipticity of the brightest cluster galaxy, a proxy for halo orientation, correlates well with the offset in mass from the mean scaling relation, which supports this picture. This provides empirical evidence that line-of-sight projection effects are an important systematic uncertainty in lensing-based scaling relations.Comment: Accepted versio

The Energy Landscape, Folding Pathways and the Kinetics of a Knotted Protein

The folding pathway and rate coefficients of the folding of a knotted protein are calculated for a potential energy function with minimal energetic frustration. A kinetic transition network is constructed using the discrete path sampling approach, and the resulting potential energy surface is visualized by constructing disconnectivity graphs. Owing to topological constraints, the low-lying portion of the landscape consists of three distinct regions, corresponding to the native knotted state and to configurations where either the N- or C-terminus is not yet folded into the knot. The fastest folding pathways from denatured states exhibit early formation of the N-terminus portion of the knot and a rate-determining step where the C-terminus is incorporated. The low-lying minima with the N-terminus knotted and the C-terminus free therefore constitute an off-pathway intermediate for this model. The insertion of both the N- and C-termini into the knot occur late in the folding process, creating large energy barriers that are the rate limiting steps in the folding process. When compared to other protein folding proteins of a similar length, this system folds over six orders of magnitude more slowly.Comment: 19 page

Estimation of the light field inside photosynthetic microorganism cultures through Mittag-Leffler functions at depleted light conditions

[EN] Light attenuation within suspensions of photosynthetic microorganisms has been widely described by the Lambert-Beer equation. However, at depths where most of the light has been absorbed by the cells, light decay deviates from the exponential behaviour and shows a lower attenuation than the corresponding from the purely exponential fall. This discrepancy can be modelled through the Mittag-Leffler function, extending Lambert-Beer law via a tuning parameter ¿ that takes into account the attenuation process. In this work, we describe a fractional Lambert-Beer law to estimate light attenuation within cultures of model organism Synechocystis sp. PCC 6803. Indeed, we benchmark the measured light field inside cultures of two different Synechocystis strains, namely the wild-type and the antenna mutant strain called Olive at five different cell densities, with our in silico results. The Mittag-Leffler hyper-parameter ¿ that best fits the data is 0.995, close to the exponential case. One of the most striking results to emerge from this work is that unlike prior literature on the subject, this one provides experimental evidence on the validity of fractional calculus for determining the light field. We show that by applying the fractional Lambert-Beer law for describing light attenuation, we are able to properly model light decay in photosynthetic microorganisms suspensions.This project has received funding from the European Unions Seventh Programme for Research, technological development and demonstration under grant agreement No 308518 CyanoFactory. David Fuente is supported by grant Contratos Predoctorales FPI 2013 of the Universitat Politecnica de Valencia. Carlos Lizama is supported by Programa de Apoyo a la Investigation y Desarrollo (PAID-02-15) de la Universitat Politecnica de Valencia and CONICYT - PIA - Anillo ACT1416Fuente, D.; Lizama, C.; Urchueguía Schölzel, JF.; Conejero, JA. (2018). Estimation of the light field inside photosynthetic microorganism cultures through Mittag-Leffler functions at depleted light conditions. Journal of Quantitative Spectroscopy and Radiative Transfer. 204:23-26. https://doi.org/10.1016/j.jqsrt.2017.08.012S232620