Are survey stock price forecasts anchored by fundamental forecasts? A long-run perspective

This paper firstly shows that a wide range of asset pricing models, including full information and Bayesian rational expectations models, typically imply that agents use the long-run cointegration relationship between stock prices and fundamentals to forecast future stock prices. However, using several widely used survey forecast datasets, we provide robust new evidence that survey stock price forecasts are not cointegrated with forecasts of fundamentals (aggregate consumption, dividend, and output), both at the consensus and individual level. We argue that it is crucial to relax investors’ common knowledge of the equilibrium pricing function to reconcile this finding

Creep via dynamical functional renormalization group

We study a D-dimensional interface driven in a disordered medium. We derive finite temperature and velocity functional renormalization group (FRG) equations, valid in a 4-D expansion. These equations allow in principle for a complete study of the the velocity versus applied force characteristics. We focus here on the creep regime at finite temperature and small velocity. We show how our FRG approach gives the form of the v-f characteristics in this regime, and in particular the creep exponent, obtained previously only through phenomenological scaling arguments.Comment: 4 pages, 3 figures, RevTe

Inter-layer Hall effect in double quantum wells subject to in-plane magnetic fields

We report on a theoretical study of the transport properties of two coupled two-dimensional electron systems subject to in-plane magnetic fields. The charge redistribution in double wells induced by the Lorenz force in crossed electric and magnetic fields has been studied. We have found that the redistribution of the charge and the related inter-layer Hall effect originate in the chirality of diamagnetic currents and give a substantial contribution to the conductivity.Comment: 7 RevTex pages, 4 figures, appendix added and misprint in Eq. (11) correcte

Finite-size scaling of synchronized oscillation on complex networks

The onset of synchronization in a system of random frequency oscillators coupled through a random network is investigated. Using a mean-field approximation, we characterize sample-to-sample fluctuations for networks of finite size, and derive the corresponding scaling properties in the critical region. For scale-free networks with the degree distribution $P(k)\sim k^{-\gamma}$ at large $k$, we found that the finite size exponent $\bar{\nu}$ takes on the value 5/2 when $\gamma>5$, the same as in the globally coupled Kuramoto model. For highly heterogeneous networks ($3<\gamma <5$), $\bar{\nu}$ and the order parameter exponent $\beta$ depend on $\gamma$. The analytic expressions for these exponents obtained from the mean field theory are shown to be in excellent agreement with data from extensive numerical simulations.Comment: 7 page

Raman and Infra-red properties and layer dependence of the phonon dispersions in multi-layered graphene

The symmetry group analysis is applied to classify the phonon modes of $N$-stacked graphene layers (NSGL's) with AB- and AA-stacking, particularly their infra-red and Raman properties. The dispersions of various phonon modes are calculated in a multi-layer vibrational model, which is generalized from the lattice vibrational potentials of graphene to including the inter-layer interactions in NSGL's. The experimentally reported red shift phenomena in the layer number dependence of the intra-layer optical C-C stretching mode frequencies are interpreted. An interesting low frequency inter-layer optical mode is revealed to be Raman or Infra-red active in even or odd NSGL's respectively. Its frequency shift is sensitive to the layer number and saturated at about 10 layers.Comment: enlarged versio

Summary of combustion instability research at Princeton University, 1969

Control and causes of combustion instability in rocket engine

A Novel Solid-acid Catalyst Using Sulfonated Crosslinked Chitosan Resin

Sulfonated crosslinked chitosan resins (SCCRs) were prepared by firstly crosslinking chitosan to crosslinked chitosan resins (CCRs) using a reverse emulsion crosslinking method, followed by sulfonating CCRs with concentrated H2SO4 as the sulfonation agent. The properties and application of SCCRs as solid acid catalysts were studied. The acidic sites in SCCRs, including C6–O and C2–N sulfate groups, are all weak acidic sites. SCCRs of higher crosslinking degrees have a higher sulfonation rate of the C6 primary hydroxyl groups, thus more C6–O sulfate groups. High-temperature treatment and TG analysis verified that the crosslinking can improve the thermostability of both SCCR backbone and its acidic groups, and a higher crosslinking degree leads to better thermostability. Catalytic esterification of citric acid with butanol and propionic acid with n-butyl alcohol demonstrated that SCCRs have good catalytic activity and can be repetitively used as efficient solid acid catalysts