Estimation of Precautionary Demand by Financial Anxieties

Pioneering work of modelling financial anxieties was given by Kimura et al (1999) as psychological change of people due to financial shocks. Since they regressed financial position (easy or tight) by nonstationary interest rate, their results exhibit high peaks not only in financial crisis period of 1997 and 1998, but also in the bubble economy period of 1987 to 1989, which seems to be a spurious regression. Furthermore, defining financial anxieties as the conditional variance in TARCH model, one of estimated coefficients did not satisfy sign condition. We got rid of these difficulties by introducing a growth rate model, where a change of financial position (toward ''tight'') under a change of interest rate (toward ''fall'') is regarded as financial anxieties. Such anxieties are quantified by conditional variance of EGARCH model and shown to be stationary. Precautionary demand caused by financial anxieties is estimated in VEC model and it is shown that money adjusted by precautionary demand satisfies a long-run equilibrium relationship in the system (adjusted money, real GDP, interest rate) even in the interval 1980q1 to 2003q2.financial anxieties, precautionary demand, cointegration, EGARCH

The Juelich hyperon-nucleon model revisited

A one-boson-exchange model for the hyperon-nucleon (\Lambda N, \Sigma N) interaction is presented. The model incorporates the standard one boson exchanges of the lowest pseudoscalar and vector meson multiplets with coupling constants fixed by SU(6) flavor symmetry relations. As the main new feature of the model, the contributions in the scalar--isoscalar (\sigma) and vector--isovector (\rho) exchange channels are now constrained by a microscopic model of correlated \pi\pi and K \bar K exchange. Additional short-ranged ingredients of the model in the scalar--isovector (a_0) and scalar--isospin-1/2 (\kappa) channels are likewise viewed as arising from meson-meson correlations but are treated phenomenologically. With this model a satisfactory reproduction of the available hyperon-nucleon data can be achieved.Comment: 24 pages, 13 figures, some modifications to text, several references added, some figures corrected, to appear in Phys. Rev.

The nonmesonic weak decay of the hypertriton

The nonmesonic decay of the hypertriton is calculated based on a hypertriton wavefunction and 3N scattering states, which are rigorous solutions of 3-body Faddeev equations using realistic NN and hyperon-nucleon interactions. The pion-exchange together with heavier meson exchanges for the $\Lambda N \to N N$ transition is considered. The total nonmesonic decay rate is found to be 0.5% of the free $\Lambda$ decay rate. Integrated as well as differential decay rates are given. The p- and n- induced decays are discussed thoroughly and it is shown that the corresponding total rates cannot be measured individually.Comment: 27 pages, 20 figures, revtex, submitted to Phys. Rev.

Transport criticality of the first-order Mott transition in a quasi-two-dimensional organic conductor, κ\kappa-(BEDT-TTF)2_{2}Cu[N(CN)2_{2}]Cl

An organic Mott insulator, $\kappa$-(BEDT-TTF)$_{2}$Cu[N(CN)$_{2}$]Cl, was investigated by resistance measurements under continuously controllable He gas pressure. The first-order Mott transition was demonstrated by observation of clear jump in the resistance variation against pressure. Its critical endpoint at 38 K is featured by vanishing of the resistive jump and critical divergence in pressure derivative of resistance, $|\frac{1}{R}\frac{\partial R}{\partial P}|$, which are consistent with the prediction of the dynamical mean field theory and have phenomenological correspondence with the liquid-gas transition. The present results provide the experimental basis for physics of the Mott transition criticality.Comment: 4 pages, 5 figure

Lambda-N scattering length from the reaction gamma d -> K^+ Lambda n

The perspects of utilizing the strangeness-production reaction gamma d -> K^+ Lambda n for the determination of the Lambda n low-energy scattering parameters are investigated. The spin observables that need to be measured in order to isolate the Lambda n singlet (1S0) and triplet (3S1) states are identified. Possible kinematical regions where the extraction of the Lambda n scattering lengths might be feasible are discussed.Comment: 8 pages, 4 figure

Antiferromagnetic Spin Fluctuations in the Metallic Phase of Quasi-Two-Dimensional Organic Superconductors

We give a quantitative analysis of the previously published nuclear magnetic resonance (NMR) experiments in the k-(ET)2X family of organic charge transfer salts by using the phenomenological spin fluctuation model of Moriya, and Millis, Monien and Pines (M-MMP). For temperatures above T_nmr ~ 50 K, the model gives a good quantitative description of the data in the metallic phases of several k-(ET)2X materials. These materials display antiferromagnetic correlation lengths which increase with decreasing temperature and grow to several lattice constants by T_nmr. It is shown that the fact that the dimensionless Korringa ratio is much larger than unity is inconsistent with a broad class of theoretical models (such as dynamical mean-field theory) which neglects spatial correlations and/or vertex corrections. For materials close to the Mott insulating phase the nuclear spin relaxation rate, the Knight shift and the Korringa ratio all decrease significantly with decreasing temperature below T_nmr. This cannot be described by the M-MMP model and the most natural explanation is that a pseudogap, similar to that observed in the underdoped cuprate superconductors, opens up in the density of states below T_nmr. Such a pseudogap has recently been predicted to occur in the dimerised organic charge transfer salts materials by the resonating valence bond (RVB) theory. We propose specific new experiments on organic superconductors to elucidate these issues. For example, measurements to see if high magnetic fields or high pressures can be used to close the pseudogap would be extremely valuable.Comment: 11 pages, 2 figures. Accepted for publication in Phys. Rev.

Superconductor-Insulator Phase Separation Induced by Rapid Cooling in kappa-(ET)_2Cu[N(CN)_2]Br

We present measurements of the low temperature specific heat of single crystals of kappa-(ET)_2Cu[N(CN)_2]Br as a function of the cooling rate through the glasslike structure transition at $\sim$ 80K. We find that rapid cooling produces a small (< 4%) decrease in the superconducting transition temperature accompanied by a substantial (up to 50%) decrease in the normal-state electronic specific heat. A natural explanation of our data is that there is a macroscopic phase separation between superconducting and insulating regions in rapidly cooled samples.Comment: 4 pages, to appear in Phys. Rev. B (Rapid Comm

Resonant inelastic x-ray scattering probes the electron-phonon coupling in the spin-liquid kappa-(BEDT-TTF)2Cu2(CN)3

Resonant inelastic x-ray scattering at the N K edge reveals clearly resolved harmonics of the anion plane vibrations in the kappa-(BEDT-TTF)2Cu2(CN)3 spin-liquid insulator. Tuning the incoming light energy at the K edge of two distinct N sites permits to excite different sets of phonon modes. Cyanide CN stretching mode is selected at the edge of the ordered N sites which are more strongly connected to the BEDT-TTF molecules, while positionally disordered N sites show multi-mode excitation. Combining measurements with calculations on an anion plane cluster permits to estimate the sitedependent electron-phonon coupling of the modes related to nitrogen excitation

Inclusive K+K^+ and exclusive K+YK^+Y photoproduction on the deuteron: Λ\Lambda- and Σ\Sigma-threshold phenomena

Inclusive $K^+$ and exclusive $K^+Y$ photoproduction on the deuteron are investigated theoretically. Modern hyperon-nucleon forces and a recently updated kaon photoproduction operator for the $\gamma +N\to K^++Y$ process are used. Sizable effects of the hyperon-nucleon final state interaction are found near the $K^+\Lambda N$ and $K^+\Sigma N$ thresholds in the inclusive reaction. Angular distributions for the exclusive process show clear $YN$ final state interaction effects in certain kinematic regions. Precise data especially for the inclusive process around the $K^+\Sigma N$ threshold would help to clarify the strength and property of the $\Lambda N-\Sigma N$ interaction.Comment: 14 pages, 10 figure

Precise calculation of the two-step process for K- d -> pi Sigma N in the Lambda (1405) resonance region

The reaction K- d -> pi Sigma N is investigated taking into account single scattering and the two-step process due to Kbar N -> pi Sigma rescattering. The influence of some common approximations are examined. It is found that the treatment of the kinematics in the Green's function that appears in the loop integral of the rescattering process has a rather strong impact on the resulting lineshape of the pi Sigma invariant mass spectrum. Specifically, a calculation with correct kinematics where the three-body unitarity cut due to the nK- p threshold occurs at the physical value yields a pronounced peak in the invariant mass spectrum at this threshold and, at the same time, suppresses the signal in the region of the Lambda(1405) resonance. On the other hand, an approximation applied in past calculations shifts that threshold down and, consequently, leads to an accidental and therefore erroneous enhancement of the signal of the Lambda(1405) in the pi Sigma invariant mass spectrum.Comment: 11 pages, 13 figure