Change of the plane of oscillation of a Foucault pendulum from simple pictures

The change of the plane of oscillation of a Foucault pendulum is calculated without using equations of motion, the Gauss-Bonnet theorem, parallel transport, or assumptions that are difficult to explain.Comment: 5 pages, 4 figure

The Swiss National Bank's monetary policy concept - an example of a 'principles-based' policy framework

The practice of monetary policy has evolved a great deal since the early 1990s. This evolution was significantly influenced by rapid developments in the theory of monetary policy. A new consensus about 'principles-based' monetary policy appears to be emerging. It marries a firm long-term anchor for nominal stability, rooted in the original ideas behind inflation targeting, with short-term flexibility, based on a more discretionary and pragmatic approach to monetary policy. The SNB's monetary policy framework - with a firm nominal anchor but with an emphasis on the need for flexibility - reflects, to a considerable degree, the emerging academic consensus about best-practice monetary policy. With its successful seven-year track record, it may serve as an interesting case study for a policy aiming at an intermediate position between full discretion and rigidly defined short-term inflation targeting.Swiss National Bank, monetary policy, inflation targeting, rules, discretion

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

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

Lithostratigraphy, sedimentation and evolution of the Volta Basin in Ghana

We present a revised lithostratigraphy for the Voltaian Supergroup of Ghana, based on a review of existing literature, interpretations of remotely sensed data and reconnaissance field survey of the Volta Basin. These strata thicken eastwards, to a maximum of between 5 and 6 km adjacent to the Pan-African Dahomeyide orogen. They began to accumulate some time after about 1000 Ma, along the margin of an epicontinental sea. Initial sedimentation, comprising the age-equivalent Kwahu and Bombouaka Groups, shows a cyclical mode of deposition controlled by eustatic changes in sea-level that produced a range of nearshore marine, littoral and terrestrial environments. A major erosional interval was followed by deposition of the 3–4 km thick Oti-Pendjari Group. Basal tillites and associated sandy diamictons are correlated with the Marinoan (end-Cryogenian) glaciation, indicating a maximum depositional age of about 635 Ma. The overlying cap carbonates and tuffs were deposited within a shallow epeiric sea bordered by a volcanically active rift system. The main part of the group records the transition from a rifted passive margin to a fully developed foreland basin receiving marine flysch in the form of argillaceous strata interbedded with highly immature wacke-type sandstones and conglomerates. Maximum accommodation space was developed within a foredeep adjacent to the Dahomeyide belt. Towards the end of the orogenic phase, the foredeep succession became partially inverted and then was buried under coarse terrestrial, red-bed molasse of the Obosum Group

Lorentz transformations that entangle spins and entangle momenta

Simple examples are presented of Lorentz transformations that entangle the spins and momenta of two particles with positive mass and spin 1/2. They apply to indistinguishable particles, produce maximal entanglement from finite Lorentz transformations of states for finite momenta, and describe entanglement of spins produced together with entanglement of momenta. From the entanglements considered, no sum of entanglements is found to be unchanged.Comment: 5 Pages, 2 Figures, One new paragraph and reference adde