Fiscal unions redux

Before the advent of sophisticated international financial markets, a widely accepted belief was that within a monetary union, a union-wide authority orchestrating fiscal transfers between countries is necessary to provide adequate insurance against country-specific economic fluctuations. A natural question is then: Do sophisticated international financial markets obviate the need for such an active union-wide authority? We argue that they do. Specifically, we show that in a benchmark economy with no international financial markets, an activist union-wide authority is necessary to achieve desirable outcomes. With sophisticated international financial markets, however, such an authority is unnecessary if its only goal is to provide cross-country insurance. Since restricting the set of policy instruments available to member countries does not create a fiscal externality across them, this result holds in a wide variety of settings. Finally, we establish that an activist union-wide authority concerned just with providing insurance to member countries is optimal only when individual countries are either unable or unwilling to pursue desirable policies

Creation of Electron--Positron Wind in Gamma-Ray Bursts and Its Effect on the Early Afterglow Emission

We calculate the creation of electron--positron pairs in Gamma-Ray Bursts (GRBs) resulting from the collision between scattered and outward moving gamma-ray photons. The number of pairs exceeds the number of ambient medium electrons encountered by the GRB ejecta up to ~ 10^{16} cm from the center of explosion. The shock resulting from the interaction of the ejecta with the pair-wind may brighten the afterglow synchrotron emission during the first few minutes. Even without this effect, the peak intensity of the optical afterglow increases with the density of the surrounding medium. Therefore, observations of the optical flux at early times constrain the density of the circumburst medium. If the electron and magnetic field energies behind the forward shock sweeping-up the pair-wind and the circumburst medium are as inferred from fits to the broadband afterglow emission at 0.5-100 days, then the current upper limits on the optical counterpart emission, set by the ROTSE and LOTIS experiments, indicate that the circumburst medium within 0.01 pc is less dense than 100 cm^{-3} or, if a wind, corresponds to a progenitor mass-loss to wind speed ratio below 10^{-6} M_sun/yr/(1000 km/s).Comment: 9 pages, submitted to MNRAS in 200

The Double Flip: Applying a Flipped Learning Approach to Teach the Teacher and Improve Student Satisfaction

This paper describes a professional development (PD) program for academics at an Australian university designed to model good blended curriculum design and effective use of contemporary learning technologies. It evaluates a case study from the pilot of this program involving a postgraduate psychology course to illustrate one of the most challenging examples and in turn the potential impact of the approach developed. Academic developers face known barriers, including time constraints, interdisciplinary miscommunication, and change resistance, when introducing academics to new approaches to learning and teaching. This PD sought to promote change by modelling a shift from “sage on the stage” to “guide on the side,” through use of flipped and blended learning approaches by the academic developer. The case study found the teacher gained confidence in these methods and student satisfaction ratings increased

The Rupture Process of the 2018 M-w 6.9 Hawai'i Earthquake as Imaged by a Genetic Algorithm-Based Back-Projection Technique

An episode of unrest began at Klauea in April 2018 that produced both significant volcanic output and high rates of seismicity, including a M-w 6.9 earthquake on 4 May 2018. In this study, we image the rupture process of this earthquake using a genetic algorithm-based back-projection technique. The dominant feature of the earthquake is a slowly propagating western rupture, which shares similar characteristics with the region's largest recorded event in 1975 (M-w 7.7). The location of this western segment suggests that small asperities on this section of the decollement that frequently fail as slow slip events may achieve seismic slip rates when rupture is initiated on adjacent sections of the fault. Given the interaction between volcanic and seismic activity in this region, imaging the rupture properties of these events can improve our understanding of future geologic hazards in this region. Plain Language Summary Voluminous lava flows and explosive eruptions at Klauea Volcano in Hawai?i have captured the attention of the media and general public during the past year. In the early stages of this volcanic activity, a magnitude 6.9 earthquake occurred beneath the south flank of Klauea, which was the second largest earthquake recorded by modern instrumentation in this region. The research presented in the manuscript uses a novel source imaging technique to study the fine-scale spatiotemporal evolution of the rupture that produced this event. The details of this rupture provide new insight into the relationship between fault properties, background seismicity, slow slip events, and major earthquakes in volcanic settings.6 month embargo; published online: 6 February 2019This item from the UA Faculty Publications collection is made available by the University of Arizona with support from the University of Arizona Libraries. If you have questions, please contact us at [email protected]

ESCAP CovCAP survey of heads of academic departments to assess the perceived initial (April/May 2020) impact of the COVID-19 pandemic on child and adolescent psychiatry services.

In April 2020, the European Society for Child and Adolescent Psychiatry (ESCAP) Research Academy and the ESCAP Board launched the first of three scheduled surveys to evaluate the impact of the coronavirus disease 2019 (COVID-19) pandemic on child and adolescent psychiatry (CAP) services in Europe and to assess the abilities of CAP centers to meet the new challenges brought on by the crisis. The survey was a self-report questionnaire, using a multistage process, which was sent to 168 heads of academic CAP services in 24 European countries. Eighty-two responses (56 complete) from 20 countries, representing the subjective judgement of heads of CAP centers, were received between mid-April and mid-May 2020. Most respondents judged the impact of the crisis on the mental health of their patients as medium (52%) or strong (33%). A large majority of CAP services reported no COVID-19 positive cases among their inpatients and most respondents declared no or limited sick leaves in their team due to COVID-19. Outpatient, daycare, and inpatient units experienced closures or reductions in the number of treated patients throughout Europe. In addition, a lower referral rate was observed in most countries. Respondents considered that they were well equipped to handle COVID-19 patients despite a lack of protective equipment. Telemedicine was adopted by almost every team despite its sparse use prior to the crisis. Overall, these first results were surprisingly homogeneous, showing a substantially reduced patient load and a moderate effect of the COVID-19 crisis on psychopathology. The effect on the organization of CAP services appears profound. COVID-19 crisis has accelerated the adoption of new technologies, including telepsychiatry

Componentes de la tasa de crecimiento poblacional en el negrón especulado de Saskatchewan, Canadá

Breeding range and abundance of White–winged Scoters (Melanitta fusca deglandi) have declined in northwestern North America. Hypotheses proposed to account for this trend are that survival and/or recruitment of females had declined. Thus, we used a reverse–time capture–recapture approach to directly estimate survival, seniority and capture probabilities for females of breeding age at Redberry Lake, Saskatchewan, Canada for 1975–1980 and 2000–2003. We also estimated population size of breeding females for 1975–1985 and 2000–2003 using capture–recapture data. Initially, this local population was in serious decline [95% CL ( ) = 0.89 ± 0.09], but has since stabilized and may be slowly increasing [95% CL ( ) = 1.07 ± 0.11]. This reversal in trajectory apparently resulted from increased recruitment rather than increased apparent survival. Importantly, recent recruitment of adult females appeared to be driven solely by immigration of adult females with no detectable in situ recruitment, suggesting a hypothesis that the local population is being rescued by females produced elsewhere.El rango reproductivo y la abundancia del negrón especulado (Melanitta fusca deglandi) han disminuido en la zona noroeste de América del Norte. La hipótesis propuesta para explicar esta tendencia es que se ha producido una disminución en la supervivencia y/o el reclutamiento de hembras. Por consiguiente, utilizamos un enfoque de captura–recaptura con el tiempo invertido para estimar directamente la supervivencia, la jerarquía y las probabilidades de captura de las hembras en edad reproductora del lago Redberry, Saskatchewan, Canadá, durante los periodos 1975–1980 y 2000– 2003. También estimamos el tamaño poblacional de las hembras reproductoras durante los periodos 1975–1985 y 2000–2003, mediante el empleo de datos de captura–recaptura. En un principio, esta población local experimentó una importante disminución [95% CL ( ) = 0,89 ± 0,09], pero posteriormente se estabilizó, y es posible que poco a poco vaya aumentando [95% CL ( ) = 1,07 ± 0,11]. Por lo visto, la inversión de esta trayectoria se produjo como consecuencia de un mayor reclutamiento, en lugar de una mayor supervivencia aparente. Es importante destacar que el reclutamiento reciente de hembras adultas parece haber obedecido exclusivamente a la migración de hembras adultas sin un reclutamiento detectable in situ, lo que sugiere la hipótesis de que la población local está siendo rescatada por hembras procedentes de otros lugares

On the need for fiscal constraints in a monetary union

We show that the desirability of fiscal constraints in monetary unions depends critically on the extent of commitment of the monetary authority. If the monetary authority can commit to its policies, fiscal constraints can only impose costs. If the monetary authority cannot commit, there is a free-rider problem in fiscal policy, and fiscal constraints may be desirable