International Equity Transactions and U.S. Portfolio Choice

This paper studies the cross-border transactions in equity by investors in Canada, Germany,Japan, the U.K. and the U.S. We find that investors from different countries make very different decisions about the allocation of their portfolio across markets. In contradiction to the notion that high variable transactions costs hinder international diversification, we find that the volume of gross equity flows vastly exceeds net equity flows and the turnover rate on foreign equity investments by some investors even exceeds domestic turnover rates. We also reject the hypothesis that U.S. investors follow the standard CAPM in allocating their global equity portfolio.

Local Hidden Variable Theories for Quantum States

While all bipartite pure entangled states violate some Bell inequality, the relationship between entanglement and non-locality for mixed quantum states is not well understood. We introduce a simple and efficient algorithmic approach for the problem of constructing local hidden variable theories for quantum states. The method is based on constructing a so-called symmetric quasi-extension of the quantum state that gives rise to a local hidden variable model with a certain number of settings for the observers Alice and Bob.Comment: 8 pages Revtex; v2 contains substantial changes, a strengthened main theorem and more reference

Universal scaling behavior of the single electron box in the strong tunneling limit

We perform a numerical analysis of recently proposed scaling functions for the single electron box. Specifically, we study the ``magnetic'' susceptibility as a function of tunneling conductance and gate charge, and the effective charging energy at zero gate charge as a function of tunneling conductance in the strong tunneling limit. Our Monte Carlo results confirm the accuracy of the theoretical predictions.Comment: Published versio

Very small grains in the Milky Way and external galaxies

These studies of the infrared colors of reflection nebulae, HL HI clouds, HII regions and external galaxies have shown the following results. Different classes of objects locate in different regions on the R vs F sub v (60)/F sub v (100) diagram. This is determined both by differences in dust properties and by differences in the illuminating radiation field. For example, HL clouds and reflection nebulae almost have the same behavior since both are in the diffuse Interstellar Medium (ISM) and can be expected to have similar grain populations; the small difference in their infrared colors can be explained by the difference of the illuminating radiation field. On the other hand, the dramatic difference of R=vF sub v (12)/F sub v (far IR) between HII region and diffuse ISM may be due to the destruction of the Very Small Grain (VSG) component in the HII regions, although radiation transfer effects may play a part as well. The ratio R=vF sub v (12)/F sub v (far IR) is approximately constant in normal spiral galaxies. This implies that the mass ratio b=Mass (VSG)/Mass (dust) does not vary greatly from one galaxy to another

A progress report on using bolometers cooled by adiabatic demagnetization refrigeration

For sensitive detection of astronomical continuum radiation in the 200 micron to 3 mm wavelength range, bolometers are presently the detectors of choice. In order to approach the limits imposed by photon noise in a cryogenically cooled telescope in space, bolometers must be operated at temperatures near 0.1 K. Researchers report progress in building and using bolometers that operate at these temperatures. The most sensitive bolometer had an estimated noise equivalent power (NEP) of 7 x 10(exp 017) W Hz(exp -1/2). Researchers also briefly discuss the durability of paramagnetic salts used to cool the bolometers

Far-infrared line observations of planetary nebulae. 1: The O 3 spectrum

Observations of the far-infrared fine structure lines of O III have been obtained for six planetary nebulae. The infrared measurements are combined with optical O III line fluxes to probe physical conditions in the gas. From the observed line intensity ratios, a simultaneous solution was obtained for electron temperature and density, as well as means of evaluating the importance of inhomogeneities. Densities determined from the far-infrared O III lines agree well density diagnostics from other ions, indicating a fairly homogeneous density in the emitting gas. Temperatures are determined separately from the O III 4363/5007 A and 5007 A/52 micron intensity ratios and compared. Systematically higher values are derived from the former ratio, which is expected from a nebula which is not isothermal. Allowance for the presence of temperature variations within these nebulae raises their derived oxygen abundances, determinations to be reconciled with the solar value