Design considerations for a ground-based search for transiting planets around L and T dwarfs

We present design considerations for a ground-based survey for transiting exoplanets around L and T dwarfs, spectral classes that have yet to be thoroughly probed for planets. We simulate photometry for L and T targets with a variety of red-optical and near-infrared (NIR) detectors, and compare the scatter in the photometry to anticipated transit depths. Based on these results, we recommend the use of a low-dark-current detector with H-band NIR photometric capabilities. We then investigate the potential for performing a survey for Earth-sized planets for a variety of telescope sizes. We simulate planetary systems around a set of spectroscopically confirmed L and T dwarfs using measured M dwarf planet occurrence rates from Kepler (e.g. Dressing & Charbonneau 2015), and simulate their observation in surveys ranging in duration from 120 to 600 nights, randomly discarding 30% of nights to simulate weather losses. We find that an efficient survey design uses a 2-meter class telescope with a NIR instrument and 360─480 observing nights, observing multiple L and T targets each night with a dithering strategy. Surveys conducted in such a manner have over an 80% chance of detecting at least one planet, and detect around 2 planets, on average. The number of expected detections depends on the true planet occurrence rate, however, which may in fact be higher for L and T dwarfs than for M dwarfs. Poster at a 2-day meeting "BROWN DWARF TO EXOPLANET CONNECTION III" or BDEXOCON IIIOthe

Exchange Rates and Inflation under EMU: An Update

In our recent Economic Policy article(Honohan and Lane, 2003), we argued that the strength of the US dollar 1999-2001 had an important impact on inflation divergence within the EMU and in particular the surge in Ireland’s inflation to over 7 per cent. This hypothesis has been subjected to a grueling out-of-sample test: would the dollar’s subsequent weakness contribute to inflation convergence and in particular to a fall in Irish inflation? Fortunately for us, the theory has passed the test with flying colours. Irish inflation stopped dead in its tracks: consumer prices were unchanged between May and November of 2003. Regression analysis on quarterly inflation data across EMU members 1999.1-2004.1 confirms the importance of the exchange rate channel, although pinning down the exact dynamic specification will require a further span of data.

HRM and Value Creation

It’s conceptually attractive to look for connection between performance, HRM and economic situation. How measure epiphenomenon’s impact when we can’t isolate that from global strategy? If casual relations maybe established, event can be interpreted in several ways (e.g. its chicken and egg situation…). This paper presents the results of a research on corporate performance measured by the creation of shareholder value. To do that we test empirically forced ranking’s performance versus all other classic human resource managements’ result first with a statistical comparison of share based on fortune 100 (from 1996 to 2000); second with Standard & Poor’s (S&P) 500 value creation (from 1997 to 2000) with “Marakon Associates†(the growth between Market-to-book values ratio and the ROE spread (ROE – Cost of equity capital)Forced Ranking, Classic HRM, Value Creation

Explicit moments of decision times for single- and double-threshold drift-diffusion processes

We derive expressions for the first three moments of the decision time (DT) distribution produced via first threshold crossings by sample paths of a drift-diffusion equation. The "pure" and "extended" diffusion processes are widely used to model two-alternative forced choice decisions, and, while simple formulae for accuracy, mean DT and coefficient of variation are readily available, third and higher moments and conditioned moments are not generally available. We provide explicit formulae for these, describe their behaviors as drift rates and starting points approach interesting limits, and, with the support of numerical simulations, discuss how trial-to-trial variability of drift rates, starting points, and non-decision times affect these behaviors in the extended diffusion model. Both unconditioned moments and those conditioned on correct and erroneous responses are treated. We argue that the results will assist in exploring mechanisms of evidence accumulation and in fitting parameters to experimental data

Divergent Inflation Rates in EMU

We analyze the sources of divergent national inflation rates among EMU member countries. At one level, we review the Irish ‘outlier’ experience; at another, we estimate panel regressions for the 1999-2001 period. We highlight the role played by differential exposure to euro exchange rate movements in explaining inflation divergence. In addition, we find evidence that output gaps and a “price level convergence” effect have also been important. We draw some policy conclusions for the accession countries that are hoping to join EMU.CIS7, international financial institutions, policy reform, external debt

Divergent Inflation Rates in EMU

We analyse the sources of divergent national inflation rates among EMU member countries. At one level, we review the Irish 'outlier' experience; at another, we estimate panel regressions for the 1999-2001 period. We highlight the role played by differential exposure to euro exchange rate movements in explaining inflation divergence. In addition, we find evidence that ouput gaps and a "price level convergence" effect have also been important. We draw some policy conclusions for the accession countries that are hoping to join EMU.

Will the Euro trigger more monetary unions in Africa?

The authors analyze the prospects for greater monetary integration in Africa, in the wake of the European Monetary Union. They argue that the structural characteristics of African economies, are quite different from those of European economies, but that much can be gained from monetary cooperation - as an external agency of restraint, and for promoting stability in the financial sector. But one should not expect too much from such arrangements. There is little evidence of contagious attacks on African currencies requiring the coordination of exchange rate policies. And economies of scale in the prudential regulation of financial systems, could be achieved through international cooperation without the need for a common currency. The same is true of enhanced risk-pooling through the financial system. The European Monetary Union has only a marginal impact on the net benefits of monetary cooperation, but the euro would be a natural anchor for any African monetary union - especially if the United Kingdom, and the sterling were to join the European Monetary Union. Indeed, the most likely route to new monetary cooperation in Africa, is through a common peg to the euro.Fiscal&Monetary Policy,Financial Intermediation,Financial Crisis Management&Restructuring,Payment Systems&Infrastructure,Banks&Banking Reform,Fiscal&Monetary Policy,Financial Intermediation,Banks&Banking Reform,Economic Stabilization,Financial Crisis Management&Restructuring