GDP Data Revisions and Forward-Looking Monetary Policy in Switzerland

This paper analyzes forward-looking rules for Swiss monetary policy in a small structural VAR model consisting of four variables taking into account data revisions for GDP. First, the paper develops an analytical method to analyze the effect of data revision errors in GDP on the ex ante or conditional inflation-output-growth volatility trade-off and applies it to Swiss data. Second, the effects of different targets in a forward-looking monetary policy on ex post or unconditional volatility of inflation and output growth is explored by a simulation exercise. In general, the results obtained suggest that focusing monetary policy on GDP growth instead on inflation may lead to an inefficient policy with both increased medium term inflation and GDP growth volatility in the presence of GDP data revisions.Structural VAR, forward-looking monetary policy, efficiency frontier, GDP data revisions

The Analysis of Forward-Looking Monetary Policy in a SVAR Framework

This paper analyzes forward-looking monetary policy rules in structural VAR’s. First, an approach for modeling a monetary policy which aims at a strict medium term inflation or output growth target is developed. Second, the ex ante inflation-output-growth volatility trade-off for a forward-looking policy aiming at a convex combination these strategies is derived. Finally, an illustration of our approach using Swiss data is given.Structural VAR, forward-looking monetary policy, efficiency frontier

Remote control of a streak camera for real time bunch size measurement in LEP

A double sweep streak camera, built by industry according to CERN specifications, has been used for a number of years to provide real time three-dimensional measurements of bunches in LEP, by means of a dedicated synchrotron light source. Originally requiring local manipulation in an underground lab close to the LEP tunnel, the camera can now be fully operated via the control system network. Control functions, such as the adjustment of lens and mirror positions, the selection of camera weep speeds, and the setting of 12 ps resolution trigger timing, are handled by various networked VME systems, as is real time image processing. Bunch dimension averages are transferred every few seconds via the control system to the LEP measurement database, and a dedicated high bandwidth video transmission allows the streak camera images and processed results to be viewed in real time (at 25 Hz) in the LEP control room. Feedback control loops for light intensity, trigger timing and image tracking allow the setup to provide useful bunch images and logged measurements over extended periods, without human intervention. An X-Window based control application (GUI) will allow LEP machine operators to select different bunches for display and measurement. The same application allows the specialists to control all parameters of the system

The SPS Individual Bunch Measurement System

The Individual Bunch Measurement System (IBMS) allows the intensity of each bunch in an LHC batch to be the measured both in the PS to SPS transfer lines and in the SPS ring itself. The method is vased on measuring the peak and valley of the analogue signal supplied by a Fast Beam Current Transformer at a frequency of 40 MHz. A 12 bit acquisition system is required to obtain a 1% resolution for the intensity range of 5X10`9 to 1.7X10`11 protons per bunch, corresponding to the pilot and ultimate LHC bunch intensities. The acquisition selection and external trigger adjustment system is driven by the 200MHz RF, which is distributed using a single-mode fibre-optic link. A local oscilloscope, controlled via a GPIB interface, allows the remote adjustment of the timing signals. The low-level software consists of a real-time task and a communication server run on a VME Power PC, which is accessed using a graphical user interface. This paper describes the system as a whole and presents some recent uses and results from the SPS run in 2000

Measurement errors in GDP and forward-looking monetary policy: The Swiss case

This paper analyzes forward-looking rules for Swiss monetary policy in a small structural VAR consisting of four variables. First, the paper looks at the ex ante inflation-output-growth volatility trade-off for a forward-looking policy aiming at a convex combination of a strict inflation and output growth targeting rule implied by this SVAR model. Thereby the paper introduces a new analytical method. Second, the paper considers the effect of measurement errors in GDP on this inflation-output-growth volatility trade-off. Third, the paper works at the impact of changing beliefs about the potential growth rate on the variability of output growth and inflation. Finally the effects of different targets in a forward-looking monetary policy on ex post or unconditional volatility of inflation and output growth is explored by a simulation exercise. --Structural VAR,forward-looking monetary policy,efficiency frontier,GDP measurement errors

The Analysis of Forward-Looking Monetary Policy in a SVAR Framework

This paper analyzes forward-looking monetary policy rules in structural VAR’s. First, an approach for modeling a monetary policy which aims at a strict medium term inflation or output growth target is developed. Second, the ex ante inflation-output-growth volatility trade-off for a forward-looking policy aiming at a convex combination these strategies is derived. Finally, an illustration of our approach using Swiss data is given

GDP Data Revisions and Forward-Looking Monetary Policy in Switzerland

This paper analyzes forward-looking rules for Swiss monetary policy in a small structural VAR model consisting of four variables taking into account data revisions for GDP. First, the paper develops an analytical method to analyze the effect of data revision errors in GDP on the ex ante or conditional inflation-output-growth volatility trade-off and applies it to Swiss data. Second, the effects of different targets in a forward-looking monetary policy on ex post or unconditional volatility of inflation and output growth is explored by a simulation exercise. In general, the results obtained suggest that focusing monetary policy on GDP growth instead on inflation may lead to an inefficient policy with both increased medium term inflation and GDP growth volatility in the presence of GDP data revisions

First Beam Tests for the Prototype LHC Orbit and Trajectory System in the CERN-SPS

The first beam tests for the prototype LHC orbit and trajectory system were performed during the year 2000 in the CERN-SPS. The system is composed of a wide-bande time normaliser, which converts the analogue pick-up signals into a 10 bit position at 40 MHz, and a digital acquisition board, which is used to process and store the relevant data. This paper describes the hardware involved and presents the results of the first tests with beam

Nanoscale structure of amyloid-β plaques in Alzheimer’s disease

Abstract Soluble amyloid-β (Aβ) is considered to be a critical component in the pathogenesis of Alzheimer’s disease (AD). Evidence suggests that these non-fibrillar Aβ assemblies are implicated in synaptic dysfunction, neurodegeneration and cell death. However, characterization of these species comes mainly from studies in cellular or animal models, and there is little data in intact human samples due to the lack of adequate optical microscopic resolution to study these small structures. Here, to achieve super-resolution in all three dimensions, we applied Array Tomography (AT) and Stimulated Emission Depletion microscopy (STED), to characterize in postmortem human brain tissue non-fibrillar Aβ structures in amyloid plaques of cases with autosomal dominant and sporadic AD. Ultrathin sections scanned with super-resolution STED microscopy allowed the detection of small Aβ structures of the order of 100 nm. We reconstructed a whole human amyloid plaque and established that plaques are formed by a dense core of higher order Aβ species (~0.022 µm3) and a peripheral halo of smaller Aβ structures (~0.003 µm3). This work highlights the potential of AT-STED for human neuropathological studies

Short-Term Enrichment Makes Male Rats More Attractive, More Defensive and Alters Hypothalamic Neurons

Innate behaviors are shaped by contingencies built during evolutionary history. On the other hand, environmental stimuli play a significant role in shaping behavior. In particular, a short period of environmental enrichment can enhance cognitive behavior, modify effects of stress on learned behaviors and induce brain plasticity. It is unclear if modulation by environment can extend to innate behaviors which are preserved by intense selection pressure. In the present report we investigate this issue by studying effects of relatively short (14-days) environmental enrichment on two prominent innate behaviors in rats, avoidance of predator odors and ability of males to attract mates. We show that enrichment has strong effects on both the innate behaviors: a) enriched males were more avoidant of a predator odor than non-enriched controls, and had a greater rise in corticosterone levels in response to the odor; and b) had higher testosterone levels and were more attractive to females. Additionally, we demonstrate decrease in dendritic length of neurons of ventrolateral nucleus of hypothalamus, important for reproductive mate-choice and increase in the same in dorsomedial nucleus, important for defensive behavior. Thus, behavioral and hormonal observations provide evidence that a short period of environmental manipulation can alter innate behaviors, providing a good example of gene-environment interaction