An improved two-step regularization scheme for spot volatility estimation

We are concerned with the problem of parameter estimation in Finance, namely the estimation of the spot volatility in the presence of the so-called microstructure noise. In [16] a scheme based on the technique of multi-step regularization was presented. It was shown that this scheme can work in a real-time manner. However, the main drawback of this scheme is that it needs a lot of observation data. The aim of the present paper is to introduce an improvement of the scheme such that the modified estimator can work more efficiently and with a data set of smaller size. The technical aspects of implementation of the scheme and its performance on simulated data are analyzed. The proposed scheme is tested against other estimators, namely a realized volatility type estimator, the Fourier estimator and two kernel estimators.Spot volatility, Nonparametric estimation, Multi-step regularization, Microstructure

Effect of low-lying fermion modes in the ϵ\epsilon-regime of QCD

We investigate the effects of low-lying fermion eigenmodes on the QCD partition function in the $\epsilon$-regime. The fermion determinant is approximated by a truncated product of low-lying eigenvalues of the overlap-Dirac operator. With two flavors of dynamical quarks, we observe that the lattice results for the lowest eigenvalue distribution, eigenvalue sum rules and partition function reproduce the analytic predictions made by Leutwyler and Smilga, which strongly depend on the topological charge of the background gauge configuration. The value of chiral condensate extracted from these measurements are consistent with each other. For one dynamical quark flavor, on the other hand, we find an apparent disagreement among different determinations of the chiral condensate, which may suggest the failure of the $\epsilon$-expansion in the absence of massless Nambu-Goldstone boson.Comment: 23 pages, 9 figure

Bank Lending in Japan: its Determinants and Macroeconomic Implications.

We examine the role of bank loans in the Japanese economy by analyzing the lending behavior of banking firms and the investment behavior of non-financial firms.BANKS ; LENDING ; ESTIMATOR

CeMnNi4: an impostor half-metal

Recent experiments show CeMnNi$_{4}$ to have a nearly integer magnetic moment and a relatively large transport spin polarization, as probed by Andreev reflection, suggesting that the material is a half metal or close to it. However, the calculations reported here show that it is not a half metal at all, but rather a semimetal of an unusual nature. Phonon properties should also be quite unusual, with rattling low-frequency Mn modes. Nontrivial transport properties, including a large thermolectric figure of merit, $ZT,$ are predicted in the ferromagnetic state of the well ordered stoichiometric CeMnNi$_{4}$Comment: 4 pages, 6 fig

Quantum dynamics of non-relativistic particles and isometric embeddings

It is considered, in the framework of constrained systems, the quantum dynamics of non-relativistic particles moving on a d-dimensional Riemannian manifold M isometrically embedded in $R^{d+n}$. This generalizes recent investigations where M has been assumed to be a hypersurface of $R^{d+1}$. We show, contrary to recent claims, that constrained systems theory does not contribute to the elimination of the ambiguities present in the canonical and path integral formulations of the problem. These discrepancies with recent works are discussed.Comment: Revtex, 14 page

Description of two new actinosporean types from a brook of Fuji Mountain, Honshu, and from Chitose River, Hokkaido, Japan

Actinospore infection of oligochaetes living in the mud of 3 freshwater biotopes in Japan was studied. Using the cell-well plate method, a new aurantiactinomyxon type was found in 0.77 % of the examined Tubifex tubifex oligochaete specimens from a brook near Yamanashi Prefectural Fisheries Experimental Station on Fuji Mountain. In 0.14 % of Lumbriculus variagetus collected from Chitose River, near Chitose Salmon Hatchery, a new siedleckiella type was found, while at the same time 8.1 % of the Lumbriculus spp. oligochaetes released triactinomyxons of Myxobolus arcticus. Of the examined Rhyacodrilus komarovi oligochaetes collected from the Mena River system, Hokkaido, 0.2, 0.6, 0.5 and 0.8% were infected with echinactinomyxon, neoactinomyxum and 2 types of triactinomyxon spores, respectively, and described in our previous paper. The oligochaetes released actinospores for several weeks. Actinospore infection showed high intensity in positive oligochaetes in the case of all the actinosporean types. Two of the actinospore types (aurantiactinomyxon and siedleckiella) presented here have not been previously described

A transceiver module of the Mu radar

The transceiver (TR) module of a middle and upper atmospheric radar is described. The TR module used in the radar is mainly composed of two units: a mixer (MIX unit) and a power amplifier (PA unit). The former generates the RF wave for transmission and converts the received echo to the IF signal. A 41.5-MHz local signal fed to mixers passes through a digitally controlled 8-bit phase shifter which can change its value up to 1,000 times in a second, so that the MU radar has the ability to steer its antenna direction quickly and flexibly. The MIX unit also contains a buffer amplifier and a gate for the transmitting signal and preamplifier for the received one whose noise figure is less than 5 dB. The PA unit amplifies the RF signal supplied from the MIX unit up to 63.7 dBm (2350 W), and feeds it to the crossed Yagi antenna