Semiclassical calculation of spectral correlation functions of chaotic systems

We present a semiclassical approach to n-point spectral correlation functions of quantum systems whose classical dynamics is chaotic, for arbitrary n. The basic ingredients are sets of periodic orbits that have nearly the same action and therefore provide constructive interference. We calculate explicitly the first correlation functions, to leading orders in their energy arguments, for both unitary and orthogonal symmetry classes. The results agree with corresponding predictions from random matrix theory, thereby giving solid support to the conjecture of universality.Comment: 13 pages, 5 figure

Economic impacts of a premature nuclear phase-out in Switzerland

This paper investigates the economic impacts of two policy proposals: "Strom ohne Atom" (SOA) and "Moratorium Plus" (MOP), both of which contain a premature phase-out of nuclear power in Switzerland. While MOP restricts business-as-usual operation time of existing nuclear power plants to 40 years, which results in a cutback of 10-20 years, SOA foresees a reduction in operation time of 20-30 years and administers combined heat and power to substitute for nuclear energy. Based on simulations with an intertemporal multi-sector general equilibrium model of the Swiss economy, we quantify the price tags for risk reduction from nuclear power operation given additional constraints on back-up technologies. Costs of accelerating the phase-out of nuclear power for an average household amount to 200 CHF/a over the next 45 years under SOA and drop to 60 CHF/a in the case of MOP. If Switzerland were to assure carbon neutrality of a premature phase-out by the use of carbon taxes, adjustment costs would increase to 230 CHF under SOA and 110 CHF under MOP. --nuclear phase-out,computable general equilibrium

Current accounts dynamics in OECD and EU acceding countries - an intertemporal approach

The paper extends the standard intertemporal model of the current account to include two important stylised facts: (1) the persistence of current account positions and (2) the relevance of the fiscal balance. Specifically, the paper derives a closed form solution for consumption in the presence of habit persistence and liquidity constraints, which allows us to obtain a dynamic model for the current account where fiscal deficits have an effect. The model is estimated for a panel of 33 countries, including the ten EU acceding countries and structural current account positions are derived. A parsimonious specification including relative income, relative investment and the fiscal balance explains well past current account developments. A key finding of the paper is that, from an intertemporal perspective, current accounts in most acceding countries are currently broadly in line with their structural current account positions. JEL Classification: F32, F41current account, habit persistence, liquidity constraints, panel

Productivity shocks, budget deficits and the current account

Currently the U.S. is experiencing record budget and current account deficits, a phenomenon familiar from the "Twin Deficits" discussion of the 1980s. In contrast, during the 1990s productivity growth has been identified as the primary cause of the US current account deficit. We suggest a theoretical framework which allows to evaluate empirically the relative importance of budget deficits and productivity shocks for the determination of the current account. Using a sample of 21 OECD countries and time series data from 1960 to 2003 we find little evidence for a contemporaneous effect of budget deficits on the current account, while country-specific productivity shocks appear to play a key role. JEL Classification: E62, F32, F41budget deficit, current account, Investment, productivity

Early interpersonal trauma reduces temporoparietal junction activity during spontaneous mentalising

Experience of interpersonal trauma and violence alters self-other distinction and mentalising abilities (also known as theory of mind, or ToM), yet little is known about their neural correlates. This fMRI study assessed temporoparietal junction (TPJ) activation, an area strongly implicated in interpersonal processing, during spontaneous mentalising in 35 adult women with histories of childhood physical, sexual, and/or emotional abuse (childhood abuse; CA) and 31 women without such experiences (unaffected comparisons; UC). Participants watched movies during which an agent formed true or false beliefs about the location of a ball, while participants always knew the true location of the ball. As hypothesised, right TPJ activation was greater for UCs compared to CAs for false vs true belief conditions. In addition, CAs showed increased functional connectivity relative to UCs between the rTPJ and dorsomedial prefrontal cortex. Finally, the agent’s belief about the presence of the ball influenced participants’ responses (ToM index), but without group differences. These findings highlight that experiencing early interpersonal trauma can alter brain areas involved in the neural processing of ToM and perspective-taking during adulthood

Economic Impacts of a Premature Nuclear Phase-Out in Switzerland

This paper investigates the economic impacts of two policy proposals: "Strom ohne Atom" (SOA) and "Moratorium Plus" (MOP), both of which contain a premature phase-out of nuclear power in Switzerland. While MOP restricts business-as-usual operation time of existing nuclear power plants to 40 years, which results in a cutback of 10-20 years, SOA foresees a reduction in operation time of 20-30 years and administers combined heat and power to substitute for nuclear energy. Based onsimulations with an intertemporal multi-sector general equilibrium model of the Swiss economy, we quantify the price tags for risk reduction from nuclear power operation given additional constraints on back-up technologies. Costs of accelerating the phase-out of nuclear power for an average household amount to 200 CHF/a over the next 45 years under SOA and drop to 60 CHF/a in the case of MOP. If Switzerland were to assure carbon neutrality of a premature phase-out by the use of carbon taxes, adjustment costs would increase to 230 CHF under SOA and 110 CHF under MOP

Exerting pressure or leveraging power? The extended chain of corporate social responsibility enforcement in business-to-business supply chains

In face of the increasing attention on issues of sustainability and corporate social responsibility (CSR) by the general public and policy makers, companies have put growing emphasis on ensuring CSR along their supply chains. Existing research has produced evidence that companies can increase their suppliers’ CSR engagement by exerting explicit pressure on them, for example, through contractual clauses. Adding to this conventional chain of CSR enforcement, this article conceptualizes and empirically validates a yet-undescribed extended chain of CSR enforcement that also leads to higher levels of CSR engagement by a supplier firm, irrespective and even in absence of explicit pressure by the customer firm. In particular, a customer firm's CSR orientation in interaction with a powerful position in the supply chain leads suppliers to perceive pressure to engage in CSR regardless of factually exerted pressure. As a result, suppliers are likely to increase their CSR engagement in order to be customer oriented or in preemptive obedience. These results entail substantial implications for policy makers as well as marketing academics and managers