A Case Where Barro Expectations Are Not Rational

This note generalizes Feldstein’s (1976) criticism of Barro’s(1974) analysis for the case that the interest rate exceeds the growth rate. This is done by considering an economy in steady state where all agents hold “Barro expectations”: they believe that government debt must necessarily be repaid and therefore leave the present value of their income streams unchanged. In this scenario, a change in the mode of taxation affects the present value of disposable income in the private sector. This violates their Barro expectations

Job Rents in a Stylized Labor Market

Wage formation is often analyzed by assuming that wage differentials reflect productivity differentials intrinsic to the workers, like differences in skill or qualification. Observed industry and firm effects on wages suggests, however, that wage differentials may result from causes rather unrelated to intrinsic productivity. This paper considers the polar case of homogeneous labor. The wage differentials emerging here are, thus, unrelated to individual differences. The model used is of an economy with a segmented labor market in which the primary sector industries are characterized by high turnover costs. This induces firms to pay efficiency wages reflecting turnover costs. The turnover case offers some rather surprising yet straightforward conclusions regarding efficiency, discrimination and taxation: Workers capture job rents; wage dispersion is too high; considerable wage differentials may arise from infinitesimally small differences in productivity; and a progressive wage tax will be welfare-enhancing

The role of nitric oxide in the interaction of Arabidopsis thaliana with the biotrophic fungi, Golovinomyces orontii and Erysiphe pisi

Powdery mildews are a diverse group of pathogenic fungi that can infect a large number of plant species, including many economically important crops. However, basic and applied research on these devastating diseases has been hampered by the obligate biotrophic lifestyle of the pathogens, which require living host cells for growth and reproduction, and lacking genetic and molecular tools for important host plants. The establishment of Arabidopsis thaliana as a host of different powdery mildew species allowed pursuing new strategies to study the molecular mechanisms governing these complex plant–pathogen interactions. Nitric oxide (NO) has emerged as an important signaling molecule in plants, which is produced upon infection and involved in activation of plant immune responses. However, the source and pathway of NO production and its precise function in the regulatory network of reactions leading to resistance is still unknown. We studied the response of Arabidopsis thaliana to infection with the adapted powdery mildew, Golovinomyces orontii (compatible interaction) and the non-adapted, Erysiphe pisi (incompatible interaction). We observed that NO accumulated rapidly and transiently at infection sites and we established a correlation between the resistance phenotype and the amount and timing of NO production. Arabidopsis mutants with defective immune response accumulated lower NO levels compared to wild type. Conversely, increased NO levels, generated by treatment with chemicals or expression of a NO-synthesizing enzyme, resulted in enhanced resistance, but only sustained NO production prevented excessive leaf colonization by the fungus, which was not achieved by a short NO burst although this reduced the initial penetration success. By contrast, lowered NO levels did not impair the ultimate resistance phenotype. Although our results suggest a function of NO in mediating plant immune responses, a direct impact on pathogen growth and development cannot be excluded

Then again, how often does the Unruh-DeWitt detector click if we switch it carefully?

The transition probability in first-order perturbation theory for an Unruh-DeWitt detector coupled to a massless scalar field in Minkowski space is calculated. It has been shown recently that the conventional $i\epsilon$ regularisation prescription for the correlation function leads to non-Lorentz invariant results for the transition rate, and a different regularisation, involving spatial smearing of the field, has been advocated to replace it. We show that the non-Lorentz invariance arises solely from the assumption of sudden switch-on and switch-off of the detector, and that when the model includes a smooth switching function the results from the conventional regularisation are both finite and Lorentz invariant. The sharp switching limit of the model is also discussed, as well as the falloff properties of the spectrum for large frequencies.Comment: 16 pages, v3. Final published version with section 5 expande

Excited by a quantum field: Does shape matter?

The instantaneous transition rate of an arbitrarily accelerated Unruh-DeWitt particle detector on four-dimensional Minkowski space is ill defined without regularisation. We show that Schlicht's regularisation as the zero-size limit of a Lorentz-function spatial profile yields a manifestly well-defined transition rate with physically reasonable asymptotic properties. In the special case of stationary trajectories, including uniform acceleration, we recover the results that have been previously obtained by a regularisation that relies on the stationarity. Finally, we discuss evidence for the conjecture that the zero-size limit of the transition rate is independent of the detector profile.Comment: 7 pages, uses jpconf. Talk given at NEB XII (Nafplio, Greece, 29 June - 2 July 2006

Explaining Africa’s public consumption procyclicality : revisiting old evidence

This paper compiles a novel dataset of time-varying measures of government consumption cyclicality for a panel of 46 African economies between 1960 and 2014. Government consumption has, generally, been highly procyclical over time in this group of countries. However, sample averages hide serious heterogeneity across countries with the majority of them showing procyclical behavior despite some positive signs of graduation from the “procyclicality trap” in a few cases. By means of weighted least squares regressions, we find that more developed African economies tend to have a smaller degree of government consumption procyclicality. Countries with higher social fragmentation and those are more reliant on foreign aid inflows tend to have a more procyclical government consumption policy. Better governance promotes counter- cyclical fiscal policy whileincreased democracy dampens it. Finally, some fiscal rules are important in curbing the procyclical behavior of government consumption.info:eu-repo/semantics/publishedVersio

Considerations on the Unruh Effect: Causality and Regularization

This article is motivated by the observation, that calculations of the Unruh effect based on idealized particle detectors are usually made in a way that involves integrations along the {\em entire} detector trajectory up to the infinitely remote {\em future}. We derive an expression which allows time-dependence of the detector response in the case of a non-stationary trajectory and conforms more explicitely to the principle of causality, namely that the response at a given instant of time depends only on the detectors {\em past} movements. On trying to reproduce the thermal Unruh spectrum we are led to an unphysical result, which we trace down to the use of the standard regularization t\to t-i\eps of the correlation function. By consistently employing a rigid detector of finite extension, we are led to a different regularization which works fine with our causal response function.Comment: 19 pages, 2 figures, v2: some minor change