Reply to Comment on ``Ab Initio Study of 40-Ca with an Importance Truncated No-Core Shell Model''

We respond to Comment on our recent letter (Phys.Rev.Lett.99:092501,2007) by Dean et al (arXiv:0709.0449).Comment: 2 page

Nuclear structure with accurate chiral perturbation theory nucleon-nucleon potential: Application to 6Li and 10B

We calculate properties of A=6 system using the accurate charge-dependent nucleon-nucleon (NN) potential at fourth order of chiral perturbation theory. By application of the ab initio no-core shell model (NCSM) and a variational calculation in the harmonic oscillator basis with basis size up to 16 hbarOmega we obtain the 6Li binding energy of 28.5(5) MeV and a converged excitation spectrum. Also, we calculate properties of 10B using the same NN potential in a basis space of up to 8 hbarOmega. Our results are consistent with results obtained by standard accurate NN potentials and demonstrate a deficiency of Hamiltonians consisting of only two-body terms. At this order of chiral perturbation theory three-body terms appear. It is expected that inclusion of such terms in the Hamiltonian will improve agreement with experiment.Comment: 9 pages, 14 figure

Inflation Targeting as a Stabilisation Tool: Its Design and Performance in the Czech Republic

The article focuses on the development and performance of the Inflation Targeting regime in the Czech Republic. It is shown that the regime design evolved throughout time from a rather specific setting towards a framework based on international best practices. The performance of IT is evaluated using three different methods. The results suggest that even though the inflation targets have been missed more often than met, the Inflation Targeting framework significantly contributed to the stabilisation of the Czech economy.Inflation Targeting Measuring performance of monetary policy

The CNB's Policy Decisions - Are They Priced in by the Markets?

This paper asks to what extent the market prices in the future monetary policy decisions of the Czech National Bank (CNB), how this policy predictability has evolved over time, and whether the change in the central bank's forecasting methodology in mid-2002 had any impact. Using a sample up to mid-2004, the results are threefold. First, three-quarters of the CNB's decisions were in line with medium-term money market expectations. Notwithstanding this relatively high predictability of CNB policy, the average mistake in the expectations was biased upwards: over the entire IT period the market has priced in a higher repo rate than has actually turned out to be the case. Second, our analysis shows that the period in which forecasts with an active monetary policy (unconditional forecasts) have been used is characterized by smaller 'surprises' of the money market. On the one hand, this may be connected with a change in the CNB's communication of the forecast, including releases of verbal comments on the interest rate trajectory that is consistent with the outlook. On the other hand, it may reflect a different economic environment in the second stage of IT in the Czech Republic. Third, we analyze whether there is convergence or divergence between the central bank's forecast-consistent interest rate trajectory and market forward rates. We show that in most cases market rates converged toward the CNB's interest rate trajectory after the publication of the forecast.Financial market reaction, inflation targeting, monetary policy predictability, term structure of interest rates.

Ab initio description of the exotic unbound 7He nucleus

The neutron rich exotic unbound 7He nucleus has been the subject of many experimental investigations. While the ground-state 3/2- resonance is well established, there is a controversy concerning the excited 1/2- resonance reported in some experiments as low-lying and narrow (E_R ~ 1 MeV, Gamma < 1 MeV) while in others as very broad and located at a higher energy. This issue cannot be addressed by ab initio theoretical calculations based on traditional bound-state methods. We introduce a new unified approach to nuclear bound and continuum states based on the coupling of the no-core shell model, a bound-state technique, with the no-core shell model/resonating group method, a nuclear scattering technique. Our calculations describe the ground-state resonance in agreement with experiment and, at the same time, predict a broad 1/2- resonance above 2 MeV.Comment: 5 pages, 3 figure

On renormalization of Poisson-Lie T-plural sigma models

Covariance of the one-loop renormalization group equations with respect to Poisson-Lie T-plurality of sigma models is discussed. The role of ambiguities in renormalization group equations of Poisson-Lie sigma models with truncated matrices of parameters is investigated.Comment: 11 pages, The sources of disagreements with references [1],[2],[3] in previous versions are identified as differences in notation