Monetary policy rules and indterminacy

In recent papers it is shown that in the presence of price stickiness, investment and capital accumulation activity, active monetary policy (MP) rules can lead to indeterminacy under various assumptions about the structure of the model. We analyze the conditions for real indeterminacy to occur in the model with capital accumulation. The key assumption is that we add response to output to the monetary policy rule. In our paper we show that adding Current or Expected Output to MP rule substantially changes the conditions for real indeterminacy to occur. In contrast to some existing research we show that under current-looking with respect to output MP rules indeterminacy is almost impossible; under forward-looking with respect to output MP rules indeterminacy is almost impossible under active MP rules and very likely to occur under passive MP rules. We also show that stability conditions are almost not sensitive to changes in capital share in output and aggregate markup. We provide the nominal determinacy analysis and show that active and forward-looking MP rules with respect to output giveMacroeconomics; Monetary Econimics; Indeterminacy

О забытых работах В.И.Шерцля

The Russian linguist V.Šercl (1843-1906) is known, on the one hand, as the author of various papers on the formal aspects of language (as, for instance, Comparative Grammar of Slavic and Other Cognate Languages, 1871-1873) and, on the other hand, as a semasiologist (see, for example, his work on enantiosemy, 1884). It is the latter area of Šercl’s activity that requires closer attention. The article focuses on Šercl’s works On Concreteness in Language (1884) and Basic Elements of Language and Principles of its Development (1885-1889)

Chronopotentiometry at platinum electrode in KF-NaF-AlF3-Al2O3 melt

Some features of the mechanism of the anode process on platinum in KF–NaF–AlF3–Al2O3 melt at 750–780 °C depending on the of anodic current density (0.5 mA/cm2 to 2.0 A/cm2) and anodic pulse duration have been studied using chronopotentiometry method. In curves of change in the platinum anode potential a small peak at current densities of 10–30 mA/cm2 and a clear peak at current densities of 0.5–2.0 A/cm2 are recorded when the current is cut on. Analysis of dependencies of the transition time on the current density indicates that the first peak in curve is associated with the formation of an oxide compound on the platinum surface, and the second one is related to hindering the diffusion for delivery of electroactive particles to its surface.The study was supported by the Russian Foundation for Basic Research (grant № 13–03–00829 A)

Quantum Degenerate Mixture of Ytterbium and Lithium Atoms

We have produced a quantum degenerate mixture of fermionic alkali 6Li and bosonic spin-singlet 174Yb gases. This was achieved using sympathetic cooling of lithium atoms by evaporatively cooled ytterbium atoms in a far-off-resonant optical dipole trap. We observe co-existence of Bose condensed (T/T_c~0.8) 174Yb with 2.3*10^4 atoms and Fermi degenerate (T/T_F~0.3) 6Li with 1.2*10^4 atoms. Quasipure Bose-Einstein condensates of up to 3*10^4 174Yb atoms can be produced in single-species experiments. Our results mark a significant step toward studies of few and many-body physics with mixtures of alkali and alkaline-earth-like atoms, and for the production of paramagnetic polar molecules in the quantum regime. Our methods also establish a convenient scheme for producing quantum degenerate ytterbium atoms in a 1064nm optical dipole trap.Comment: 4 pages, 3 figure

Sympathetic cooling in an optically trapped mixture of alkali and spin-singlet atoms

We report on the realization of a stable mixture of ultracold lithium and ytterbium atoms confined in a far-off-resonance optical dipole trap. We observe sympathetic cooling of 6Li by 174Yb and extract the s-wave scattering length magnitude |a6Li-174Yb| = (13 \pm 3)a0 from the rate of inter-species thermalization. Using forced evaporative cooling of 174Yb, we achieve reduction of the 6Li temperature to below the Fermi temperature, purely through inter-species sympathetic cooling.Comment: 4 pages, 3 figure

Variation of the Dependence of the Transient Process Duration on the Initial Conditions in Systems with Discrete Time

Dependence of the transient process duration on the initial conditions is considered in one- and two-dimensional systems with discrete time, representing a logistic map and the Eno map, respectively.Comment: 4 pages, 2 figure

Optimization technique of the stay of person in the middle-altitude conditions

The objective: In order to improve exercise capacity in the middle-altitude conditions a technique of urgent adaptation with use of the compact device has been developed. Material and Methods. The study included two groups of people involved in mountain tourism, on the move and stay in the midlands, which used (experimental group) and didn't use (control group) the developed technique. Considering the specificity of observations directly on the mountain route, the compact equipment and functional studies (pulse oximetry, spirometry, peak flow, the dynamic measurement of pulse and blood pressure with the calculation of double product index) were used to monitor the experiment. Results. During the experiment changes of the data characterizing positive development of the functioning of human cardiore-spiratory system during the physical activities in the conditions of middle mountains were recorded (peak expiratory flow rate (from 512,86 to 592,86 I / min, t = 2,25, or by 115,6% in the experimental group) and double product index (from 95,66 to 127,09 units., t = 2,41, or by 132,9% in the experimental group). Conclusion. Thus, the offered device and its technique compose an effective scheme of preliminary preparation of cardiorespiratory system to stay in the middle-altitude condition and can be recommended for use in need short-term adaptation

Solving and estimating indeterminate DSGE models

We propose a method for solving and estimating linear rational expectations models that exhibit indeterminacy and we provide step-by-step guidelines for implementing this method in the Matlab-based packages Dynare and Gensys. Our method redefines a subset of expectational errors as new fundamentals. This redefinition allows us to treat indeterminate models as determinate and to apply standard solution algorithms. We prove that our method is equivalent to the solution method proposed by Lubik and Schorfheide (2003, 2004), and using the New-Keynesian model described in Lubik and Schorfheide (2004), we demonstrate how to apply our theoretical results with a practical exercise

Electrocrystallization of fibrous silver deposits from nitrate melts: Experiments and modeling

Fibrous silver deposits have been obtained in molten nitrates on a moving cathode. Cylindrical silver cathode was lifted from the melt AgNO3-NaNO3-KNO3. It is found that the dimensions of the silver threads as well as their shape and thickness depend on the electrolysis parameters: the values of current and velocity of the cathode lifting. Systematic study of the silver dendrite structure has been performed on a scanning electron microscope. Geometric characteristics have been evaluated statistically and regression equations linking these constitutive properties of the deposits with the values of current and of lifting velocity have been obtained. A criterion for the description of dendrite shape under different conditions is proposed