Modelling Ireland’s Exchange Rates - From EMS to EMU

This paper attempts to model the nominal and real exchange rate for Ireland, relative to Germany and the UK from 1975 to 2003. It offers an overview of the theory of purchasing power parity (Ppp), focusing particularly on likely sources of nonlinearity. Potential difficulties in placing the analysis in the standard I(1)/I(0) framework are highlighted and comparisons with previous Irish studies are made. Tests for fractional integration and nonlinearity, including random field regressions, are discussed and applied. The results obtained highlight the likely inadequacies of the standard cointegration and Star approaches to modelling, and point instead to multiple structural changes models. Using this approach, both bilateral nominal exchange rates are effectively modelled, and in the case of Ireland and Germany, Ppp is found to be valid not only in the long run, but also in the medium term.Purchasing power parity; fractional Dickey-Fuller tests; smooth transition autoregression; random field regression; multiple structural changes models

Nonlinearity as an Explanation of the Forward Exchange Rate Anomaly

This paper shows that nonlinearity can provide an explanation for the forward exchange rate anomaly (Fama, 1984). Using sterling-Canadian dollar data, and modelling nonlinearity of unspecified form by means of a random field, we find strong evidence of time-wise nonlinearity and, significantly, obtain parameter estimates that conform with theory to a high degree of precision: the anomaly disappears.Forward exchange rate anomaly; nonlinearity; random field regression

Spectral Properties From Lyman-alpha to H-alpha For An Essentially Complete Sample of Quasars I: Data

We have obtained quasi-simultaneous ultraviolet-optical spectra for 22 out of 23 quasars in the complete PG-X-ray sample with redshift, z<0.4, and M_B<-23. The spectra cover rest-frame wavelengths from at least Lyman-alpha to H-alpha. Here we provide a detailed description of the data, including careful spectrophotometry and redshift determination. We also present direct measurements of the continua, strong emission lines and features, including Lyman-alpha, SiIV+OIV], CIV, CIII], SiIII], MgII, H-beta, [OIII], He5876+NaI5890,5896, H-alpha, and blended iron emission in the UV and optical. The widths, asymmetries and velocity shifts of profiles of strong emission lines show that CIV and Lyman-alpha are very different from H-beta and H-alpha. This suggests that the motion of the broad line region is related to the ionization structure, but the data appears not agree with the radially stratified ionization structure supported by reverberation mapping studies, and therefore suggest that outflows contribute additional velocity components to the broad emission line profiles.Comment: 42 pages, 10 figures, 13 tables. Accepted by AJ. Supplemental figures not included. Full version available at http://physics.uwyo.edu/~shang/pgxpaper/ShangPaper.pd

Estimating a Path through a Map of Decision Making

Studies of the evolution of collective behavior consider the payoffs of individual versus social learning. We have previously proposed that the relative magnitude of social versus individual learning could be compared against the transparency of payoff, also known as the “transparency” of the decision, through a heuristic, two-dimensional map. Moving from west to east, the estimated strength of social influence increases. As the decision maker proceeds from south to north, transparency of choice increases, and it becomes easier to identify the best choice itself and/or the best social role model from whom to learn (depending on position on east–west axis). Here we show how to parameterize the functions that underlie the map, how to estimate these functions, and thus how to describe estimated paths through the map. We develop estimation methods on artificial data sets and discuss real-world applications such as modeling changes in health decisions

Intensive HST, RXTE and ASCA Monitoring of NGC 3516: Evidence Against Thermal Reprocessing

During 1998 April 13-16, NGC 3516 was monitored almost continuously with HST for 10.3 hr in the UV and 2.8 d in the optical, and simultaneous RXTE and ASCA monitoring covered the same period. The X-rays were strongly variable with the soft (0.5-2 keV) showing stronger variations (~65% peak-to-peak) than the hard (2-10 keV; ~50% peak-to-peak). The optical continuum showed much smaller but highly significant variations: a slow ~2.5% rise followed by a faster ~3.5% decline. The short UV observation did not show significant variability. The soft and hard X-ray light curves were strongly correlated with no significant lag. Likewise, the optical continuum bands (3590 and 5510 A) were also strongly correlated with no measurable lag above limits of <0.15 d. However no significant correlation or simple relationship could be found for the optical and X-ray light curves. These results appear difficult to reconcile with previous reports of correlations between X-ray and optical variations and of measurable lags within the optical band for some other Seyfert 1s. These results also present serious problems for "reprocessing" models in which the X-ray source heats a stratified accretion disk which then reemits in the optical/ultraviolet: the synchronous variations within the optical would suggest that the emitting region is <0.3 lt-d across, while the lack of correlation between X-ray and optical variations would indicate, in the context of this model, that any reprocessing region must be >1 lt-d in size. It may be possible to resolve this conflict by invoking anisotropic emission or special geometry, but the most natural explanation appears to be that the bulk of the optical luminosity is generated by some other mechanism than reprocessing.Comment: 23 pages including 6 figures, accepted for publication in Ap

REVIEWS REVIEWS REVIEWS Disturbance and the rising tide: the

low-island ecosystem

The Formation of Broad Line Clouds in the Accretion Shocks of Active Galactic Nuclei

Recent work on the gas dynamics in the Galactic Center has improved our understanding of the accretion processes in galactic nuclei, particularly with regard to properties such as the specific angular momentum distribution, density, and temperature of the inflowing plasma. This information can be valuable in trying to determine the origin of the Broad Line Region (BLR) in Active Galactic Nuclei (AGNs). In this paper, we explore various scenarios for the cloud formation based on the underlying principle that the source of plasma is ultimately that portion of the gas trapped by the central black hole from the interstellar medium. Based on what we know about the Galactic Center, it is likely that in highly dynamic environments such as this, the supply of matter is due mostly to stellar winds from the central cluster. Winds accreting onto a central black hole are subjected to several disturbances capable of producing shocks, including a Bondi-Hoyle flow, stellar wind-wind collisions, and turbulence. Shocked gas is initially compressed and heated out of thermal equilibrium with the ambient radiation field; a cooling instability sets in as the gas is cooled via inverse-Compton and bremsstrahlung processes. If the cooling time is less than the dynamical flow time through the shock region, the gas may clump to form the clouds responsible for broad line emission seen in many AGN spectra. Clouds produced by this process display the correct range of densities and velocity fields seen in broad emission lines. Very importantly, the cloud distribution agrees with the results of reverberation studies, in which it is seen that the central line peak responds slower to continuum changes than the line wings.Comment: 22 pages, 5 figure

Cis-effects on gene expression in the human prenatal brain associated with genetic risk for neuropsychiatric disorders

The majority of common risk alleles identified for neuropsychiatric disorders reside in non-coding regions of the genome and are therefore likely to impact gene regulation. However, the genes that are primarily affected and the nature and developmental timing of these effects remain unclear. Given the hypothesised role for early neurodevelopmental processes in these conditions, we here define genetic predictors of gene expression in the human fetal brain with which we perform transcriptome-wide association studies (TWASs) of attention deficit hyperactivity disorder (ADHD), autism spectrum disorder, bipolar disorder, major depressive disorder and schizophrenia. We identify prenatal cis-regulatory effects on 63 genes and 166 individual transcripts associated with genetic risk for these conditions. We observe pleiotropic effects of expression predictors for a number of genes and transcripts, including those of decreased DDHD2 expression in association with risk for schizophrenia and bipolar disorder, increased expression of a ST3GAL3 transcript with risk for schizophrenia and ADHD, and increased expression of an XPNPEP3 transcript with risk for schizophrenia, bipolar disorder and major depression. For the protocadherin alpha cluster genes PCDHA7 and PCDHA8, we find that predictors of low expression are associated with risk for major depressive disorder while those of higher expression are associated with risk for schizophrenia. Our findings support a role for altered gene regulation in the prenatal brain in susceptibility to various neuropsychiatric disorders and prioritize potential risk genes for further neurobiological investigation