17,212 research outputs found
Relativistic charged fluid flow. III - Generalized Hamilton-Jacobi equation
Generalized Hamilton-Jacobi equation and Clebsch transform applied to relativistic plasma flo
Spinor solution of the sound wave problem
Spinor solution of sound wave in electrically neutral ga
Monetary policy actions, macroeconomic data releases, and inflation expectations
This article analyzes how announced surprises in monetary policy actions and macroeconomic data releases affect the average rate of inflation that economic agents expect to prevail over the 10-year period following the surprise. The analysis also addresses the effect of Federal Reserve communication and surprises in monetary policy actions on perceived inflation risk over this 10-year period. The study shows that surprises in macroeconomic data releases and monetary policy actions indeed affect the expected rate of inflation. Further, there is evidence that surprises in monetary policy actions increase perceived inflation risk, whereas Federal Reserve communication reduces it.Monetary policy ; Inflation (Finance) ; Macroeconomics
Macroeconomic news and real interest rates
Economic news affects the perceptions of investors, forecasters, and policymakers about the strength or weakness of the economy. These expectations are updated on the basis of regularly occurring surprises in macroeconomic announcement data. The response of asset prices to positive or negative announcement surprises has been a regular feature of the literature for more than 20 years. In this vein, the authors evaluate the responses of the yield of 10-year Treasury inflation-indexed securities to nearly three dozen macroeconomic announcements. They find that the real long-term rate of interest responds positively to surprises in a handful of key macroeconomic indicators, including labor productivity growth. Also, the authors find no support for the proposition that the Federal Reserve has information about its actions or the state of the real economy that is not in the pubic domain and, hence, not already priced in the real long-term interest rate.Interest rates
Do productivity growth, budget deficits, and monetary policy actions affect real interest rates? evidence from macroeconomic announcement data
Real-business-cycle models suggest that an increase in the rate of productivity growth increases the real rate of interest. But economic theory is ambiguous when it comes to the effect of government budget deficits on the real rate of interest. Similarly, little is known about the effect of monetary policy actions on real long-term interest rates. We investigate these questions empirically, using macroeconomic announcement data. We find that the real long-term rate of interest responds positively to surprises in labor productivity growth. However, we do not reject the hypothesis that the real long-term rate of interest does not respond to surprises in the size of the government*s budget deficit (or surplus). Finally, we find no support for the proposition that the Federal Reserve has information about its actions or the state of the real economy that is not in the pubic domain and, hence, priced in the real long-term interest rate.Interest rates ; Monetary policy ; Fiscal policy
Kondo screening cloud in a one dimensional wire: Numerical renormalization group study
We study the Kondo model --a magnetic impurity coupled to a one dimensional
wire via exchange coupling-- by using Wilson's numerical renormalization group
(NRG) technique. By applying an approach similar to which was used to compute
the two impurity problem we managed to improve the bad spatial resolution of
the numerical renormalization group method. In this way we have calculated the
impurity spin - conduction electron spin correlation function which is a
measure of the Kondo compensation cloud whose existence has been a long
standing problem in solid state physics. We also present results on the
temperature dependence of the Kondo correlations.Comment: published versio
Spontaneous spiking in an autaptic Hodgkin-Huxley set up
The effect of intrinsic channel noise is investigated for the dynamic
response of a neuronal cell with a delayed feedback loop. The loop is based on
the so-called autapse phenomenon in which dendrites establish not only
connections to neighboring cells but as well to its own axon. The biophysical
modeling is achieved in terms of a stochastic Hodgkin-Huxley model containing
such a built in delayed feedback. The fluctuations stem from intrinsic channel
noise, being caused by the stochastic nature of the gating dynamics of ion
channels. The influence of the delayed stimulus is systematically analyzed with
respect to the coupling parameter and the delay time in terms of the interspike
interval histograms and the average interspike interval. The delayed feedback
manifests itself in the occurrence of bursting and a rich multimodal interspike
interval distribution, exhibiting a delay-induced reduction of the spontaneous
spiking activity at characteristic frequencies. Moreover, a specific
frequency-locking mechanism is detected for the mean interspike interval.Comment: 8 pages, 10 figure
Dynamic Model and Phase Transitions for Liquid Helium
This article presents a phenomenological dynamic phase transition theory --
modeling and analysis -- for superfluids. As we know, although the
time-dependent Ginzburg-Landau model has been successfully used in
superconductivity, and the classical Ginzburg-Landau free energy is still
poorly applicable to liquid helium in a quantitative sense. The study in this
article is based on 1) a new dynamic classification scheme of phase
transitions, 2) new time-dependent Ginzburg-Landau models for general
equilibrium transitions, and 3) the general dynamic transition theory. The
results in this article predict the existence of a unstable region H, where
both solid and liquid He II states appear randomly depending on fluctuations
and the existence of a switch point M on the lambda-curve, where the
transitions changes types
Giant enhancement of hydrodynamically enforced entropic trapping in thin channels
Using our generalized Fick-Jacobs approach [Martens et al., PRL 110, 010601
(2013); Martens et al., Eur. Phys. J. Spec. Topics 222, 2453-2463 (2013)] and
extensive Brownian dynamics simulations, we study particle transport through
three-dimensional periodic channels of different height. Directed motion is
caused by the interplay of constant bias acting along the channel axis and a
pressure-driven flow. The tremendous change of the flow profile shape in
channel direction with the channel height is reflected in a crucial dependence
of the mean particle velocity and the effective diffusion coefficient on the
channel height. In particular, we observe a giant suppression of the effective
diffusivity in thin channels; four orders of magnitude compared to the bulk
value.Comment: 16 pages, 8 figure
Hydrodynamically enforced entropic trapping of Brownian particles
We study the transport of Brownian particles through a corrugated channel
caused by a force field containing curl-free (scalar potential) and
divergence-free (vector potential) parts. We develop a generalized Fick-Jacobs
approach leading to an effective one-dimensional description involving the
potential of mean force. As an application, the interplay of a pressure-driven
flow and an oppositely oriented constant bias is considered. We show that for
certain parameters, the particle diffusion is significantly suppressed via the
property of hyrodynamically enforced entropic particle trapping.Comment: 5 pages, 4 figures, in press with Physical Review Letter
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