A Case Where Barro Expectations Are Not Rational

This note generalizes Feldstein’s (1976) criticism of Barro’s(1974) analysis for the case that the interest rate exceeds the growth rate. This is done by considering an economy in steady state where all agents hold “Barro expectations”: they believe that government debt must necessarily be repaid and therefore leave the present value of their income streams unchanged. In this scenario, a change in the mode of taxation affects the present value of disposable income in the private sector. This violates their Barro expectations

Macroeconomic Confusion

This note critically evaluates the New Classical Macroeconomics from a Marshallian perspective. Revisiting the famous Keynes-Tinbergen controversy, it is argued that Keynes' criticism comprises the "Lucas critique," and that it is misleading to label this a critique of Keynesian economics. The postulate of immutable economic structures carries Tinbergen's approach to the extreme and neglects the possibility of slowly changing structures, as conceived by Marshall. The position is defended by arguments about equilibrium and rationality that are admittedly empty

Then again, how often does the Unruh-DeWitt detector click if we switch it carefully?

The transition probability in first-order perturbation theory for an Unruh-DeWitt detector coupled to a massless scalar field in Minkowski space is calculated. It has been shown recently that the conventional $i\epsilon$ regularisation prescription for the correlation function leads to non-Lorentz invariant results for the transition rate, and a different regularisation, involving spatial smearing of the field, has been advocated to replace it. We show that the non-Lorentz invariance arises solely from the assumption of sudden switch-on and switch-off of the detector, and that when the model includes a smooth switching function the results from the conventional regularisation are both finite and Lorentz invariant. The sharp switching limit of the model is also discussed, as well as the falloff properties of the spectrum for large frequencies.Comment: 16 pages, v3. Final published version with section 5 expande

Efficient processing of an antigenic sequence for presentation by MHC class I molecules depends on its neighboring residues in the protein

Processing of endogenously synthesized proteins generates short peptides that are presented by MHC class I molecules to CD8 T lymphocytes. Here it is documented that not only the sequence of the presented peptide but also the residues by which it is flanked in the protein determine the efficiency of processing and presentation. This became evident when a viral sequence of proven antigenicity was inserted at different positions into an unrelated carrier protein. Not different peptides, but different amounts of the antigenic insert itself were retrieved by isolation of naturally processed peptides from cells expressing the different chimeric proteins. Low yield of antigenic peptide from an unfavorable integration site could be overcome by flanking the insert with oligo-alanine to space it from disruptive neighboring sequences. Notably, the degree of protection against lethal virus disease related directly to the amount of naturally processed antigenic peptide

Excited by a quantum field: Does shape matter?

The instantaneous transition rate of an arbitrarily accelerated Unruh-DeWitt particle detector on four-dimensional Minkowski space is ill defined without regularisation. We show that Schlicht's regularisation as the zero-size limit of a Lorentz-function spatial profile yields a manifestly well-defined transition rate with physically reasonable asymptotic properties. In the special case of stationary trajectories, including uniform acceleration, we recover the results that have been previously obtained by a regularisation that relies on the stationarity. Finally, we discuss evidence for the conjecture that the zero-size limit of the transition rate is independent of the detector profile.Comment: 7 pages, uses jpconf. Talk given at NEB XII (Nafplio, Greece, 29 June - 2 July 2006

Explaining Africa’s public consumption procyclicality : revisiting old evidence

This paper compiles a novel dataset of time-varying measures of government consumption cyclicality for a panel of 46 African economies between 1960 and 2014. Government consumption has, generally, been highly procyclical over time in this group of countries. However, sample averages hide serious heterogeneity across countries with the majority of them showing procyclical behavior despite some positive signs of graduation from the “procyclicality trap” in a few cases. By means of weighted least squares regressions, we find that more developed African economies tend to have a smaller degree of government consumption procyclicality. Countries with higher social fragmentation and those are more reliant on foreign aid inflows tend to have a more procyclical government consumption policy. Better governance promotes counter- cyclical fiscal policy whileincreased democracy dampens it. Finally, some fiscal rules are important in curbing the procyclical behavior of government consumption.info:eu-repo/semantics/publishedVersio

Considerations on the Unruh Effect: Causality and Regularization

This article is motivated by the observation, that calculations of the Unruh effect based on idealized particle detectors are usually made in a way that involves integrations along the {\em entire} detector trajectory up to the infinitely remote {\em future}. We derive an expression which allows time-dependence of the detector response in the case of a non-stationary trajectory and conforms more explicitely to the principle of causality, namely that the response at a given instant of time depends only on the detectors {\em past} movements. On trying to reproduce the thermal Unruh spectrum we are led to an unphysical result, which we trace down to the use of the standard regularization t\to t-i\eps of the correlation function. By consistently employing a rigid detector of finite extension, we are led to a different regularization which works fine with our causal response function.Comment: 19 pages, 2 figures, v2: some minor change