A propos Brexit: on the breaking up of integration areas – an NEG analysis

Inspired by Brexit, the paper explores the effects of splitting an integration area or "Union" on trade Patterns and the spatial distribution of industry. A linear three-region New Economic Geography (NEG) model is developed and two possible situations before separation are considered: agglomeration and dispersion. By analogy with the Brexit options, soft and hard separation scenarios are considered. Firms in the leaving region may move to the larger Union market, even on the periphery, relocation substituting trade; or firms in the Union may move in the more isolated leaving region, escaping from competition. The paper also analyses deeper Union integration following separation. Instances of multistability and complex Dynamics are found

Conductivity and permittivity of dispersed systems with penetrable particle-host interphase

A model for the study of the effective quasistatic conductivity and permittivity of dispersed systems with particle-host interphase, within which many-particle polarization and correlation contributions are effectively incorporated, is presented. The structure of the system's components, including the interphase, is taken into account through modelling their low-frequency complex permittivity profiles. The model describes, among other things, a percolation-type behavior of the effective conductivity, accompanied by a considerable increase in the real part of the effective complex permittivity. The percolation threshold location is determined mainly by the thickness of the interphase. The "double" percolation effect is predicted. The results are contrasted with experiment.Comment: 10 pages, 10 figure

Financial Sector Ups and Downs and the Real Sector: Up by the stairs, down by the parachute

We examine how financial expansion and contraction cycles affect the broader economy through their impact on real economic sectors in a panel of countries over 1960–2005. Periods of accelerated growth of the financial sector are more likely to be followed by abrupt financial contractions than are periods of slower financial sector growth. Sharp fluctuations in the financial sector have strongly asymmetric effects, with the majority of real sectors adversely affected by contractions, but not helped by expansions. The adverse effects of financial contractions are transmitted almost exclusively through the financial openness channel, with precautionary foreign exchange reserve holdings serving as a key buffer.

The prediction of metastable impact electronic spectra (MIES): perfect and defective MgO(001) surfaces by state-of-the-art methods

We re-examine the theory of metastable impact electron spectroscopy (MIES) in its application to insulating surfaces. This suggests a quantitative approach which takes advantage of recent developments in highly efficient many-electron computational techniques. It gives a basis to the interpretation of experimental MIES spectra for perfect and defective surfaces. Our method is based on a static approach to predicting Auger de-excitation (AD) rates of He*(1s2s) projectiles. A key quantity is the surface density of states (DOS) projected on the Is orbital of the He* atom, which is calculated along its trajectory. We use density functional theory within both supercell geometry and embedded cluster models to calculate MIES spectra for the perfect MgO surface and for an MgO surface with different concentrations of adsorbed oxygen atoms. First we calculate the Auger de-excitation rates at various positions of the projectile above the surface. To predict MIES spectra, we integrate over projectile trajectories, with a subsequent weighted averaging with respect to various lateral positions of He* above the MgO surface unit cell. It is important to examine final-state effects for a correct comparison between theory and experiment, especially when there are localised defect states. (C) 2000 Elsevier Science B.V. All rights reserved