“Romanticism in T.S. Eliot’s Early Poetry: Music and Words”

In his lecture “The Music of Poetry” (1942), T.S. Eliot said, “I think that a poet may gain much from the study of music.” Indeed, much of his poetry shows his debt to music, for instance in the musical titles of his early poems, jazz rhythms in the Waste Land, and the instrumental reference in the Four Quartets. This paper reviews Eliot’s preoccupation with Romanticism through an invocation of Romantic musical genres. T.S. Eliot wrote his early poems during a time when other poets like Ezra Pound vigorously denounced the Romantic project and its Victorian inheritors. Around the same time, representative composers like Claude Debussy and Igor Stravinsky experimented with the idea of tonality and the ways it could be subverted. Listeners that had been accustomed to the idea of tonal music with a main pulse or meter that would carry throughout were thrown off by the measure-to-measure switches in time signatures, music that had no tonal center, and a seemingly lack of form; something that was easily comparable to the fragmentation prevalent in Eliot’s work of the same period. This paper illustrates through close readings how the poems “Nocturne,” “Preludes,” “Rhapsody on a Windy Night,” and “Portrait of a Lady” demonstrate this parallel shift from the Romantic tradition into a new concept of music and literature: post-tonality in the former, and modernism in the latter. Eliot uses Romantic musical forms in the first three as the framework for themes of isolation, fragmentation, and disillusionment, and within his exposure of Romantic cliché in “Portrait of a Lady” one can see his desire to move towards something new

Nonlocal transistor based on pure crossed Andreev reflection in a EuO-graphene/superconductor hybrid structure

We study the interband transport in a superconducting device composed of graphene with EuO-induced exchange interaction. We show that pure crossed Andreev reflection can be generated exclusively without the parasitic local Andreev reflection and elastic cotunnelling over a wide range of bias and Fermi levels in an EuO-graphene/superconductor/EuO-graphene device. The pure non-local conductance exhibits rapid on/off switching and oscillatory behavior when the Fermi levels in the normal and the superconducting leads are varied. The oscillation reflects the quasiparticle propagation in the superconducting lead and can be used as a tool to probe the subgap quasiparticle mode in superconducting graphene, which is inaccessible from the current-voltage characteristics. Our results suggest that the device can be used as a highly tunable transistor that operates purely in the non-local and spin-polarized transport regime.Comment: 5 pages, 4 figures; To appear in Phys. Rev.

A Mixed PDE/Monte Carlo approach as an efficient way to price under high-dimensional systems

We propose to price derivatives modelled by multi-dimensional systems of stochastic di�fferential\ud equations using a mixed PDE/Monte Carlo approach. We derive a stochastic PDE where some of the coeffi�cients are conditional on stochastic ancillary factors. The stochastic\ud PDE is solved with either analytical or �finite diff�erence methods, where we simulate all the ancillary processes using Monte Carlo. The multilevel technique has also been introduced to further reduce the variance. The combined method showed over 80% cost reduction for the same accuracy, in pricing a barrier option in an FX market with stochastic interest rate and volatility (which is usually expensive to work with) , when compared to the pure Monte\ud Carlo simulation

Growth Volatility and Financial Repression: Time Series Evidence from India

The main objective of this paper is to explore the determinants of private consumption volatility in India. While considerable effort has been expended on the examining the relationship between growth and volatility, we focus on financial repression and private consumption volatility in India. Using annual time series data, the results show that the implementation of financial repressionist policies are strongly associated with lower consumption volatility in India. The results remain robust after controlling for a wide range of macroeconomic shocks and variables. Additional analysis which involves examining each component of private consumption provides further evidence to support this finding. The presence of a threshold effect suggests that the benefits of financial openness in dampening consumption volatility can only be reaped when India becomes sufficiently liberalized.Growth volatility; financial repression; India

Savings Mobilization, Financial Development and Liberalization: The Case of Malaysia

This paper attempts to identify the key factors behind Malaysia’s remarkable savings performance. Drawing on the life cycle theory, the saving function is estimated by incorporating other relevant structural features and institutional settings of the Malaysian economy into the specification. Particular emphasis has been placed on the roles of financial factors in mobilizing funds in the private sector. The results suggest that financial deepening and increased banking density tend to encourage private savings. Development of insurance markets and liberalization of the financial system, however, tend to exert a dampening effect on private savings.private savings; financial development; Malaysia; ARDL bounds test

Financial Liberalization and the Aid-Growth Relationship in India

This paper examines the impact of foreign aid in the process of economic development in India by controlling for the degree of financial liberalization. A composite index is constructed using the method of principal component analysis to capture the joint influence of various policies imposed on the Indian financial system. The results show that while foreign aid exerts a direct negative influence on output expansion, its indirect effect via financial liberalization is positive. Therefore, an important implication of the findings in this paper is that greater openness in the financial system of the host country is a crucial prerequisite to realize the effectiveness of foreign aid. Our results are robust to a number of control variables and estimation techniques.Aid; financial liberalization; India