Financial integration in East Asia

This paper examines the degree of integration into world financial markets and the impacts on several key macroeconomic variables of selected East Asian economies, and draws policy implications. According to our analysis, the degrees of integration into world financial markets in those economies are increasing. Regarding the impacts of increasing integration into world financial markets on several macroeconomic variables, we find three results. First, casual two-way plots among macroeconomic variables do not support the theoretical prediction of reduction in relative consumption volatility. Second, the saving-investment correlation is higher than those of in Euro area economies. Third, the degrees of smoothing of idiosyncratic shock by cross-holding of financial assets are lower than Euro area economies. Those results suggest two policy implications. First, there's some room for improvement in welfare gains in those economies by further risk sharing. Second, holding all other conditions given, the increasing integration into world financial markets alone is unlikely to provide a sound ground for a currency union in East Asia at this stage.

Financial Integration in East Asia

This paper examines the degree of integration into world financial markets and the impacts on several key macroeconomic variables of selected East Asian economies, and draws policy implications. According to our analysis, the degrees of integration into world financial markets in those economies are increasing. Regarding the impacts of increasing integration into world financial markets on several macroeconomic variables, we find three results. First, casual two-way plots among macroeconomic variables do not support the theoretical prediction of reduction in relative consumption volatility. Second, the saving-investment correlation is higher than those of the euro area economies. Third, the degrees of smoothing of idiosyncratic shock by cross-holding of financial assets are lower than the euro area economies. These results suggest two policy implications. First, there is some room for improvement in welfare gains in those economies by means of further risk sharing. Second, holding all other conditions equal, the increasing integration into world financial markets alone is unlikely to provide a sound ground for a currency union in East Asia at this stage.Exchange rate regime, financial integration, risk sharing

T-odd Asymmetry in W+jet Events at the LHC

W bosons produced at high transverse momentum in hadron collisions can have polarization along the direction perpendicular to the production plane, which is odd under na\ddot{\i}ve-T-reversal where both the three-momenta and angular momenta are reversed. Perturbative QCD predicts non-zero polarization at the one-loop level, which can be measured as parity-odd components in the angular distribution of charged leptons from the decay of W bosons. We perform a detector-level simulation with the generator MadGraph5_aMC@NLO, and demonstrate that the asymmetry can be observed at the 8 TeV LHC with 20 fb$^{-1}$ of data. If confirmed, it will be the first experimental measurement of the sign of the imaginary part of one-loop QCD amplitudes.Comment: 5 pages, 2 figure

Bound-state effects on gluino-pair production at hadron colliders

We study bound-state effects on the pair production of gluinos at hadron colliders, in a context of the minimal supersymmetric extension of the standard model. Due to the expected large mass and the octet color-charge of gluinos, the bound-state effects can be substantial at the LHC. We find significant deformation of the invariant-mass distributions of a gluino-pair near the mass threshold, as well as an additional correction to the total cross-section. Both the invariant-mass distribution and the correction to the total cross section depend crucially on the decay width of the gluino

Psycho-Physiological Response by 3D Image and Sound

AbstractRecently, advances in stereoscopic imaging technology have opened up opportunities to view three-dimensional (3D) images and it is expected that 3D imaging technology will be further utilized in medical facilities. In our study, we investigated the psycho-physiological effects induced by 3D imagery and sound combinations by using functional near infrared spectroscopy (fNIRS), electrocardiograms (ECG), and the Roken Arousal Scale (RAS). The following four image and sound conditions were compared under both 2D and 3D conditions: sound only, image only, synchronized image and sound combinations, and asynchronized image and sound combinations. In all tests, brain activity in the frontal cortex was measured by placing NIRS probes near the prefrontal cortex and in the vicinity of dorsolateral area 46. To evaluate any increase or decrease in oxygenated hemoglobin (oxyHb), we used δoxyHb. Briefly, oxyHb waveform data are passed through a differential filter, after which a sum of more than zero is defined as a positive component, and a sum less than zero is defined as a negative component. The δoxyHb value is defined as the positive component minus the negative component. It was found that δoxyHb values for sound and imagery alone under the 2D condition exceeded those under the corresponding 3D condition. Furthermore, δoxyHb values under synchronized and asynchronized 3D conditions were higher than those recorded under the corresponding 2D condition. These results suggest differences in brain activities between 2D and 3D imagery, or with or without sound. The highest δoxyHb value was recorded for 3D imagery with synchronized sound. High frequency component (HF) values for a synchronized image and sound under 3D conditions were the lowest, and low frequency component (LF) / HF values for the synchronized image and sound under 3D conditions were the highest. These results indicate the predominance of the sympathetic nervous system during sound-synchronized 3D imagery

Syntax Directed Analysis and The Compiler Compiler

The Compiler Compiler is the procedure to define an input and an output language as formally as possible, to describe the translation algorithm of a compiler simple and clear, and to generate compilers in a short time easily by means of a computer. As one method, we have constructed the Compiler Oriented Language COL suitable to describe compilers. The compiler described in COL parses an input string in the manner of the Syntax directed analysis, interprets the resulting syntactic structure and produces the output string. In this paper, we discuss two methods of the Syntax directed analysis, Top-down analysis and Bottom-up analysis, and the Syntax Statement of COL in which the parsing procedure of a compiler is described. As a result, it may be said that the resulting compiler described in COL can accept ALGOL programs and produce the object programs in symbolic language or in machine language, and that the parsing time is about 50 percent of the whole compiling time on the average

The KT-Pilot Computer

This paper deals with the outline, design features and performance of the KT-Pilot, which is a binary, parallel, high-speed digital computer developed for research into the technical problems encountered in high-speed computers. This machine, although a small-sized experimental one, has many unique features : a microprogram control system utilizing a newly developed phototransistor fixed or read-only memory, asynchronous operations adopted to speed up the machine, a continuous-sheet Supermalloy thin film memory first put into practical use as the computer memory in this country, high-speed logic circuits employing fast mesa transistors and both mesa and gold-bonded diodes as circuit components, and so on. Two types of core memories, i.e. current-coincident type and word-organized type, constitute the main memory together with the above-mentioned thin film memory. A photo-tape reader and a Flexowriter are used respectively as the input and output devices. This machine has been operating stably at our laboratory, and its performance is very satisfactory

Roll in/out and Usage of Large Capacity Core Memory in a Time-sharing System

In this paper the analysis of roll in/out operation and the usage of large capacity core memory (LCM) in a time-sharing system (TSS) are described. A TSS model based on a few assumptions is proposed, and the relation between roll in/out and system performance is analyzed. The system is classified into two types, i.e. swapping limited and CPU limited, according to whether the maximum system performance is restricted by capability of swapping devices or central processing units, and using LCM in TSS is very effective for the swapping limited case because of decrease of system overhead due to roll in/out operation and increase of system performance. The usage of LCM is divided into two main classes, i.e. as roll-out area and roll-in area, and a system model with LCM is analyzed and discussed in each class. One of the typical cases of using LCM as roll-in area is the implementation of conversational language in interpretive mode, then, the condition on which the interpreter program using LCM is operated in swapping limited state in spite of decrease of swapping overhead and increase of CPU time is obtained, and a numerical example is showed. Finally, an optimum algorithm for the use of LCM, which betters system performance in man-computer communication, is suggested

The Decay of Tau Leptons Produced in Neutrino-Nucleon Scatterings

Energy and angular distributions of the tau decay products in the CERN-to-Gran Sasso $\nu_\tau$ appearance experiments are studied for the decay modes $\tau\to\pi\nu$ and $\tau\to l\bar\nu\nu$ (l=e or mu). We find that the decay particle distributions in the laboratory frame are significantly affected by the tau polarization. Rather strong azimuthal asymmetry of $pi^-$ and $l^-$ about the tau momentum axis is predicted, which may have observable consequences even at small statistics experiments.Comment: 14 pages, 6 eps figures; comments on Fig. 1 added, Fig. 4 improved to see clearl