Population ageing and public pension reforms in a small open economy

This paper aims to address the issue of public pension reforms under demographic ageing that is likely to occur in Europe over the next 50 years. Three possible scenarios are analysed in a Blanchard OLG framework. These include: i) a decrease both in public pensions and the lump sum labour income tax, ii) a decrease both in public pensions and the distortionary corporate tax, iii) an increase in the retirement age. The analysis focuses on the effects of these fiscal policies on key economic variables such as consumption, private and public debt, output and wages. Quantitative experiments assess the impact of different fiscal policies in terms of public debt sustainability but most importantly suggest policies that smooth the transition of the economy to the new equilibrium. The main results suggest that the adverse effects of pension reforms on consumption are moderated when they are accompanied by appropriate taxation policies. In particular, when the tax response is rapid most of the adverse movement in consumption is avoided while public and national debt reach lower equilibrium levels

Joint determination of orbits of spacecraft and moons of Mars by optical sighting of the moons

Scanning optical system to provide attitude and trajectory of unmanned spacecraft during orbit about Mar

Fiscal variables and bond spreads: evidence from eastern European countries and Turkey

We investigate the impact of fiscal variables on bond yield spreads relative to US Treasury bonds in the Czech Republic, Hungary, Poland, Russia and Turkey from May 1998 to December 2007. To account for the importance of market expectations we use projected values for fiscal and macroeconomic variables generated from Consensus Economics Forecasts. Moreover, we compare results from panel regressions with those from country (seemingly unrelated regression) estimates, and conduct analogous regressions for a control group of Latin American countries. We find that the role of the individual explanatory variables, including the importance of fiscal variables, varies across countries. JEL Classification: C33, E43, E62, H62Budget deficits, determination of interest rates, Eastern European countries, Fiscal Policy

On the non-abelian Brumer-Stark conjecture and the equivariant Iwasawa main conjecture

We show that for an odd prime p, the p-primary parts of refinements of the (imprimitive) non-abelian Brumer and Brumer-Stark conjectures are implied by the equivariant Iwasawa main conjecture (EIMC) for totally real fields. Crucially, this result does not depend on the vanishing of the relevant Iwasawa mu-invariant. In combination with the authors' previous work on the EIMC, this leads to unconditional proofs of the non-abelian Brumer and Brumer-Stark conjectures in many new cases.Comment: 33 pages; to appear in Mathematische Zeitschrift; v3 many minor updates including new title; v2 some cohomological arguments simplified; v1 is a revised version of the second half of arXiv:1408.4934v

Message from the President

Racial Slur on Social Medi

Hunting for neutral, long-lived exotica at the LHC using a missing transverse energy signature

Searches at the Large Hadron Collider (LHC) for neutral, long-lived particles have historically relied on the detection of displaced particles produced by their decay $\textit{within}$ the detector volume. In this paper we study the potential of the complementary signature comprising of the missing transverse energy ($E_T^{miss}$) signal, traditionally used to look for dark matter, e.g., the lightest supersymmetric particle (LSP), to extend the LHC coverage to models with long-lived (LL) particles when they decay $\textit{outside}$ the detector. Using CMS and ATLAS analyses at the 8 TeV LHC, we set an upper limit at the 95% confidence level (CL) on the production cross sections for two specific scenarios: (i) a model with a heavy non-standard model Higgs boson decaying to a LL scalar and (ii) an R-parity violating RPV SUSY model with a LL neutralino. We show that this method can significantly extend the LHC sensitivity to neutral, LL particles with arbitrary large lifetimes and that the limits obtained from a $E_T^{miss}$ signal are comparable to those from displaced particle searches for decay distances above a few meters. Results obtained in this study do not not depend on the specific decay channel of the LL particle and therefore are model-independent in this sense. We provide limits for the whole two-dimensional plane in terms of the mass of the LL particle and the mass of the mediator up to masses of 2 TeV including particular benchmarks studied in the original experimental papers. We have made these limits available in the form of a grid which can be used for the interpretation of various other new physics models.Comment: 28 page

Interpolation Parameter and Expansion for the Three Dimensional Non-Trivial Scalar Infrared Fixed Point

We compute the non--trivial infrared $\phi^4_3$--fixed point by means of an interpolation expansion in fixed dimension. The expansion is formulated for an infinitesimal momentum space renormalization group. We choose a coordinate representation for the fixed point interaction in derivative expansion, and compute its coordinates to high orders by means of computer algebra. We compute the series for the critical exponent $\nu$ up to order twenty five of interpolation expansion in this representation, and evaluate it using \pade, Borel--\pade, Borel--conformal--\pade, and Dlog--\pade resummation. The resummation returns $0.6262(13)$ as the value of $\nu$.Comment: 29 pages, Latex2e, 2 Postscript figure

Form factor expansion of the row and diagonal correlation functions of the two dimensional Ising model

We derive and prove exponential and form factor expansions of the row correlation function and the diagonal correlation function of the two dimensional Ising model

On equivariant characteristic ideals of real classes

Let $p$ be an odd prime, $F/{\Bbb Q}$ an abelian totally real number field, $F_\infty/F$ its cyclotomic ${\Bbb Z}_p$-extension, $G_\infty = Gal (F_\infty / {\Bbb Q}),$ ${\Bbb A} = {\Bbb Z}_p [[G_\infty]].$ We give an explicit description of the equivariant characteristic ideal of $H^2_{Iw} (F_\infty, {\Bbb Z}_p(m))$ over ${\Bbb A}$ for all odd $m \in {\Bbb Z}$ by applying M. Witte's formulation of an equivariant main conjecture (or "limit theorem") due to Burns and Greither. This could shed some light on Greenberg's conjecture on the vanishing of the $\lambda$-invariant of $F_\infty/F.

Bullying girls - Changes after brief strategic family therapy: A randomized, prospective, controlled trial with one-year follow-up

Background: Many girls bully others. They are conspicuous because of their risk-taking behavior, increased anger, problematic interpersonal relationships and poor quality of life. Our aim was to determine the efficacy of brief strategic family therapy (BSFT) for bullying-related behavior, anger reduction, improvement of interpersonal relationships, and improvement of health-related quality of life in girls who bully, and to find out whether their expressive aggression correlates with their distinctive psychological features. Methods: 40 bullying girls were recruited from the general population: 20 were randomly selected for 3 months of BSFT. Follow-up took place 12 months after the therapy had ended. The results of treatment were examined using the Adolescents' Risk-taking Behavior Scale (ARBS), the State-Trait Anger Expression Inventory (STAXI), the Inventory of Interpersonal Problems (IIP-D), and the SF-36 Health Survey (SF-36). Results: In comparison with the control group (CG) (according to the intent-to-treat principle), bullying behavior in the BSFT group was reduced (BSFT-G from n = 20 to n = 6; CG from n = 20 to n = 18, p = 0.05) and statistically significant changes in all risk-taking behaviors (ARBS), on most STAXI, IIP-D, and SF-36 scales were observed after BSFT. The reduction in expressive aggression (Anger-Out scale of the STAXI) correlated with the reduction on several scales of the ARBS, IIP-D, and SF-36. Follow-up a year later showed relatively stable events. Conclusions: Our findings suggest that bullying girls suffer from psychological and social problems which may be reduced by the use of BSFT. Expressive aggression in girls appears to correlate with several types of risk-taking behavior and interpersonal problems, as well as with health-related quality of life. Copyright (c) 2006 S. Karger AG, Basel