Fiscal sustainability in a new Keynesian model - additional appendix

Additional appendix relating to the article 'Fiscal sustainability in a new Keynesian model', forthcoming in the Journal of Money, Credit and Banking

Discretionary policy in a monetary union with sovereign debt

This paper examines the interactions between multiple national fiscal policymakers and a single monetary policy maker in response to shocks to government debt in some or all of the countries of a monetary union. We assume that national governments respond to excess debt in an optimal manner, but that they do not have access to a commitment technology. This implies that national fiscal policy gradually reduces debt: the lack of a commitment technology precludes a random walk in steady-state debt, but the need to maintain national competitiveness avoids excessively rapid debt reduction. If the central bank can commit, it adjusts its policies only slightly in response to higher debt, allowing national fiscal policy to undertake most of the adjustment. However, if it cannot commit, then optimal monetary policy involves using interest rates to rapidly reduce debt, with significant welfare costs. We show that in these circumstances the central bank would do better to ignore national fiscal policies in formulating its policy

Gravitational energy as dark energy: Concordance of cosmological tests

We provide preliminary quantitative evidence that a new solution to averaging the observed inhomogeneous structure of matter in the universe [gr-qc/0702082, arxiv:0709.0732], may lead to an observationally viable cosmology without exotic dark energy. We find parameters which simultaneously satisfy three independent tests: the match to the angular scale of the sound horizon detected in the cosmic microwave background anisotropy spectrum; the effective comoving baryon acoustic oscillation scale detected in galaxy clustering statistics; and type Ia supernova luminosity distances. Independently of the supernova data, concordance is obtained for a value of the Hubble constant which agrees with the measurement of the Hubble Key team of Sandage et al [astro-ph/0603647]. Best-fit parameters include a global average Hubble constant H_0 = 61.7 (+1.2/-1.1) km/s/Mpc, a present epoch void volume fraction of f_{v0} = 0.76 (+0.12/-0.09), and an age of the universe of 14.7 (+0.7/-0.5) billion years as measured by observers in galaxies. The mass ratio of non-baryonic dark matter to baryonic matter is 3.1 (+2.5/-2.4), computed with a baryon-to-photon ratio that concords with primordial lithium abundances.Comment: 4 pages, 2 figures; v2 improved statistics, references added, to appear in ApJ Letter

Study support essentials: guidance for Ofsted Framework 2012

The well-being of children and young people encompasses, amongst other things, enhanced self-esteem through personal achievement and a confidence in learning behaviours. The Study Support strategy articulated in this document supports professionals in developing an inspirational vision for the children and young people in their care. If this vision is to be realised, professionals need to be both knowledgeable and skillful in utilising pedagogies that engender deep learning. This Study Support strategy will enhance children and young people’s enjoyment, engagement and attainment thereby contributing to the overall performance and improvement agenda in any given school

Study support essentials: guidance for academies

This guidance supports academies in considering the case for sustaining and extending provision and offers frameworks for self-evaluation. The case studies provide a wealth of ideas to stimulate discussion and inspire fresh approaches to meet the needs of today’s students. Practical recommendations from QiSS (Quality in Study Support and Extended Services) to aid strategic and operational planning are based on many years of research and experience as the national leader in the field

Study support essentials: guidance for school governors

This document is a valuable guide for school governors as it enables them to use the guidance in this document to support their school’s teaching and learning activities outside of the curriculum. It empowers governors to ask leading and challenging questions of their school’s extending learning opportunities strategy. Thereby support the school to raise pupil attainment, attendance and behaviour which all contribute to School Improvement and Performance

Single-molecule Studies Of p53 Sliding Along DNA

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Differential approximation for Kelvin-wave turbulence

I present a nonlinear differential equation model (DAM) for the spectrum of Kelvin waves on a thin vortex filament. This model preserves the original scaling of the six-wave kinetic equation, its direct and inverse cascade solutions, as well as the thermodynamic equilibrium spectra. Further, I extend DAM to include the effect of sound radiation by Kelvin waves. I show that, because of the phonon radiation, the turbulence spectrum ends at a maximum frequency $\omega^* \sim (\epsilon^3 c_s^{20} / \kappa^{16})^{1/13}$ where $\epsilon$ is the total energy injection rate, $c_s$ is the speed of sound and $\kappa$ is the quantum of circulation.Comment: Prepared of publication in JETP Letter