Rotational modulation of the linear polarimetric variability of the cool dwarf TVLM 513−-46546

Aims: We aimed to monitor the optical linear polarimetric signal of the magnetized, rapidly rotating M8.5 dwarf TVLM 513$-$46546. Methods: $R$- and $I$-band linear polarimetry images were collected with the ALFOSC instrument of the 2.56-m Nordic Optical Telescope on two consecutive nights covering about 0.5 and 4 rotation cycles in the $R$ and $I$ filters, respectively. We also obtained simultaneous intensity curves by means of differential photometry. The typical precision of the data is $\pm$0.46\% ($R$), $\pm$0.35\% ($I$) in the linear polarization degree and $\pm$9 mmag ($R$), $\pm$1.6 mmag ($I$) in the differential intensity curves. Results: Strong and variable linear polarization is detected in the $R$ and $I$ filters, with values of maximum polarization ($p^{*}$ = 1.30$\pm$0.35 \%) similar for both bands. The intensity and the polarimetric curves present a sinusoid-like pattern with a periodicity of $\sim$1.98 h, which we ascribe to structures in TVLM 513$-$46's surface synchronized with rotation. We found that the peaks of the intensity and polarimetric curves occur with a phase difference of 0.18$\pm$0.01, and that the maximum of the linear polarization happens nearly half a period (0.59$\pm$0.03) after the radio pulse. We discussed different scenarios to account for the observed properties of the light curves.Comment: Accepted for publication in Astronomy and Astrophysic

Simultaneous optical and near-infrared linear spectropolarimetry of the earthshine

Aims: We aim to extend our current observational understanding of the integrated planet Earth spectropolarimetry from the optical to the near-infrared wavelengths. Major biomarkers like O$_{\rm 2}$ and water vapor are strong flux absorbents in the Earth atmosphere and some linear polarization of the reflected stellar light is expected to occur at these wavelengths. Methods: Simultaneous optical ($0.4-0.9$ $\mu$m) and near-infrared ($0.9-2.3$ $\mu$m) linear spectropolarimetric data of the earthshine were acquired by observing the nightside of the waxing Moon. The data have sufficient spectral resolution (2.51 nm in the optical, and 1.83 and 2.91 nm in the near-infrared) to resolve major molecular species present in the Earth atmosphere. Results: We find the highest values of linear polarization ($\ge 10\%$) at the bluest wavelengths, which agrees with the literature. Linear polarization intensity steadily decreases towards red wavelengths reaching a nearly flat value beyond $\sim$0.8 $\mu$m. In the near-infrared, we measured a polarization degree of $\sim4.5 \%$ for the continuum. We report the detection of molecular features due to O$_{2}$ at $0.760, 1.25 \mu$m and H$_{2}$O at 0.653$-$0.725 $\mu$m, 0.780$-$0.825 $\mu$m, 0.93 and 1.12 $\mu$m in the spectropolarimetric data; most of them show high linear polarimetry degrees above the continuum. In particular, the broad H$_{2}$O 1.12 $\mu$m band displays a polarimetric intensity as high as that of the blue optical. These features may become a powerful tool to characterize Earth-like planets in polarized light.Comment: 4 pages, 3 figures. Accepted for publication as Letter in Astronomy and Astrophysics on 23/01/201

Analysis of Monetary Policy and Financial Stability: A New Paradigm

This paper introduces agent heterogeneity, liquidity, and endogenous default to a DSGE framework. Our model allows for a comprehensive assessment of regulatory and monetary policy, as well as welfare analysis in the different sectors of the economy. Due to liquidity and endogenous default, the transmission mechanism of shocks is well defined, and their short to medium run effects on financial stability are properly captured.general equilibrium, financial fragility, monetary policy, regulation