Expenditure, Confidence, and Uncertainty: Identifying Shocks to Consumer Confidence Using Daily Data

The importance of consumer confidence in stimulating economic activity is a disputed issue in macroeconomics. Do changes in confidence represent autonomous fluctuations in optimism, independent of information on economic fundamentals, or are they a reflection of economic news? I study this question by using high-frequency microdata on spending and consumer confidence, and I find that consumer confidence contains information relevant to predicting spending, independent from other indicators. The exogenous movements in consumer confidence lead to very short fluctuations in consumer spending, consistent with the hypothesis that more consumer confidence reflects less uncertainty about the future

CMS physics technical design report : Addendum on high density QCD with heavy ions

Peer reviewe

Resonant radiation from collapsing light pulses and spatiotemporal light bullets

Resonant excitation of dispersive waves from spatiotemporal light bullets exhibits unique features such as rogue statistics. Resonant radiation may also be stimulated on a co-propagating THz pulse, bridging a 6 octave spectral gap

Spatiotemporal light bullets in bulk media

Three-dimensional light bullets in bulk media are identified, through their specific energy density flux, as polychromatic Bessel-like pulses. We also study resonant radiation emission with applications in rogue event studies and THz detection