Proceedings of the Conference on Human and Economic Resources

We estimate the amount of income and consumption smoothing (risk sharing) between countries in the European Monetary Union (EMU) and between other developed countries during the period 1970–2003. In particular, we examine if EMU countries display different patterns of risk sharing than other developed countries in the period leading up to and following the formation of the EMU in 1999. We find that income smoothing from international factor income has increased in the EMU since the introduction of the EMU and that consumption smoothing from procyclical government saving has declined steeply in the EMU since the signing of the Maastricht treaty.EMU, Risk Sharing, economic determinants of risk sharing

Barriers for developing more robust organic arable farming systems in practice

There is a gap between the scientific idea of robust and economically viable organic arable farming systems with optimized crop rotations for nutrient and pest management and how these systems look like in practice. In order to explore this gap, we visited and interviewed ten organic arable farms in Denmark. Our main findings are: 1) Organic arable farming operates in a very dynamic and changing environment in terms of prizing and market opportunities, and the main focus of the farm managements was the coping strategy within this changing environment; 2) The farming systems were continuously changing and developing, buying and renting more land, changing manure agreements and other forms of cooperation and arrangements; 3) Short term profit was paid much more attention than more theoretical expectation on long term profit or opportunities in relation to optimizing the production system. This again seems logical in relation to the very dynamic world that the farmers have to operate within; 4) Most of the farmers do not see their farm as a coherent system but as a coordination of a series of separate operations, which means that most decisions are taken with specific reference to the individual field in at the present situation without considering the long-term effects. Management focus is thus much more on solving problems as they are occurring, by adjusting their practice, than it is on developing a robust system preventing problems to occur. This partial focus is also strongly supported by the way in which extension services mostly operate

Utilization of nitrogen in legume-based mobile green manures stored as compost or silage

The utilization of nitrogen (N) in green manure leys can be improved by harvesting, storage and spreading of the plant material as manure in other crops. By green manure storage as silage, storage losses of N are lower than by composting. Also, a relatively high fertilizer value of silage N is achievable depending on the C/N ratio of the material. Nitrogen availability in green manure leys is higher after storage as silage compared to composting. Use of mobile green manures is mainly relevant in arable cropping systems without livestock where utilization of the roughage for animal feed or biogas production is impossible, as costs for ley/roughage harvest and transport can be relatively high. Our study showed that surface application of green manure silage to growing crops can damage plants and is therefore not recommended, whereas incorporation of silage before sowing has significant positive effects on crop yields

Ground-State Energy and Spin Gap of Spin-1/2 Kagome Heisenberg Antiferromagnetic Clusters: Large Scale Exact Diagonalization Results

We present a comprehensive list of ground state energies and spin gaps of finite kagome clusters with up to 42 spins obtained using large-scale exact diagonalization techniques. This represents the current limit of this exact approach. For a fixed number of spins N we study several cluster shapes under periodic boundary conditions in both directions resulting in a toroidal geometry. The clusters are characterized by their side length and diagonal as well as the shortest "Manhattan" diameter of the torii. A finite-size scaling analysis of the ground state energy as well as the spin gap is then performed in terms of the shortest toroidal diameter as well as the shortest "Manhattan" diameter. The structure of the spin-spin correlations further supports the importance of short loops wrapping around the torii.Comment: 4 pages, 4 figures, added one referenc

Enhancing quantum transduction via long-range waveguide mediated interactions between quantum emitters

Efficient transduction of electromagnetic signals between different frequency scales is an essential ingredient for modern communication technologies as well as for the emergent field of quantum information processing. Recent advances in waveguide photonics have enabled a breakthrough in light-matter coupling, where individual two-level emitters are strongly coupled to individual photons. Here we propose a scheme which exploits this coupling to boost the performance of transducers between low-frequency signals and optical fields operating at the level of individual photons. Specifically, we demonstrate how to engineer the interaction between quantum dots in waveguides to enable efficient transduction of electric fields coupled to quantum dots. Owing to the scalability and integrability of the solid-state platform, our transducer can potentially become a key building block of a quantum internet node. To demonstrate this, we show how it can be used as a coherent quantum interface between optical photons and a two-level system like a superconducting qubit.Comment: The maintext has 6 pages, two column and 4 figure

Bremsstrahlung from relativistic heavy ions in a fixed target experiment at the LHC

We calculate the emission of bremsstrahlung from lead and argon ions in A Fixed Target ExpeRiment (AFTER) that uses the LHC beams. With nuclear charges of $Ze$ equal $208$ and $18$ respectively, these ions are accelerated to energies of $7$ TeV$\times Z$. The bremsstrahlung peaks around $\approx 100$ GeV and the spectrum exposes the nuclear structure of the incoming ion. The peak structure is significantly different from the flat power spectrum pertaining to a point charge. Photons are predominantly emitted within an angle of $1/\gamma$ to the direction of ion propagation. Our calculations are based on the Weizs\"{a}cker-Williams method of virtual quanta with application of existing experimental data on photonuclear interactions.Comment: 9 pages, 3 figures. Submitted to Advances in High Energy Physic

FU.S. banking deregulation, small businesses, and interstate insurance of personal income

We estimate the effects of deregulation of U.S. banking restrictions on the amount of interstate personal income insurance during the period 1970–2001. Interstate income insurance occurs when personal income reacts less than one-to-one to state-specific shocks to output. We find that income insurance improved after banking deregulation, and that this effect is larger in states where small businesses are more important. We further show that the impact of deregulation is stronger for proprietors’ income than other components of personal income. Our explanation of this result centers on the role of banks as a prime source of small business finance and on the close intertwining of the personal and business finances of small business owners. Our analysis casts light on the real effects of bank deregulation, on the risk sharing function of banks, and on the integration of bank markets.Financial deregulation, integration of bank markets, interstate risk sharing, small business finance.

What Can Explain Excess Smoothness and Sensitivity of State-Level Consumption?

This article estimates marginal propensities to consume (MPC) out of current and lagged income for U.S. states using panel data regressions that control for time-specific and state-level fixed effects. The MPCs vary across states, in particular, the MPC out of current income is higher in states where income is more persistent and the MPC out of lagged income is lower in agricultural states. Several models of individual consumer behavior are analyzed and simulated in order to isolate a model which is able to match the estimated MPCs well.Permanent Income, Credit Rationing, Precautionary saving, Time-Aggregation, Durable Goods, Risk Sharing.

U.S. Banking Deregulation, Small Businesses,and Interstate Insurance of Personal Income

We estimate the effects of deregulation of U.S. banking restrictions on the amount of interstate personal income insurance during the period 1970–2001. Interstate income insurance occurs when personal income reacts less than one-to-one to state-specific shocks to output. We find that income insurance improved after banking deregulation, and that this effect is larger in states where small businesses are more important. We further show that the impact of deregulation is stronger for proprietors’ income than other components of personal income. Our explanation of this result centers on the role of banks as a prime source of small business finance and on the close intertwining of the personal and business finances of small business owners. Our analysis casts light on the real effects of bank deregulation, on the insurance function of banks, and on the integration of bank markets.Financial deregulation, integration of bank markets, interstate risk shar-ing, small business finance.