The case for TIPS: an examination of the costs and benefits

Slightly more than a decade has passed since the introduction of the Treasury Inflation-Protected Securities (TIPS) program, through which the U.S. Treasury Department issues inflation-indexed debt. Several studies have suggested that the program has been a financial disappointment for the Treasury and by extension U.S. taxpayers. Relying on ex post analysis, the studies argue that a more cost-effective strategy remains the issuance of nominal Treasury securities. This article proposes that evaluations of the TIPS program be more comprehensive, and instead focus on the ex ante costs of TIPS issuance compared with nominal Treasury issuance. The authors contend that ex ante analysis is a more effective way to assess the costs of TIPS over the long run. Furthermore, relative cost calculations--whether ex post or ex ante--are just one aspect of a comprehensive analysis of the costs and benefits of the TIPS program. TIPS issuance provides other benefits that should be taken into account when evaluating the program, especially when TIPS are only marginally more expensive or about as expensive to issue as nominal Treasury securities.Treasury bonds ; Debt

New, Highly Accurate Propagator for the Linear and Nonlinear Schr\"odinger Equation

A propagation method for the time dependent Schr\"odinger equation was studied leading to a general scheme of solving ode type equations. Standard space discretization of time-dependent pde's usually results in system of ode's of the form u_t -Gu = s where G is a operator (matrix) and u is a time-dependent solution vector. Highly accurate methods, based on polynomial approximation of a modified exponential evolution operator, had been developed already for this type of problems where G is a linear, time independent matrix and s is a constant vector. In this paper we will describe a new algorithm for the more general case where s is a time-dependent r.h.s vector. An iterative version of the new algorithm can be applied to the general case where G depends on t or u. Numerical results for Schr\"odinger equation with time-dependent potential and to non-linear Schr\"odinger equation will be presented.Comment: 14 page

A Chebychev propagator with iterative time ordering for explicitly time-dependent Hamiltonians

A propagation method for time-dependent Schr\"odinger equations with an explicitly time-dependent Hamiltonian is developed where time ordering is achieved iteratively. The explicit time-dependence of the time-dependent Schr\"odinger equation is rewritten as an inhomogeneous term. At each step of the iteration, the resulting inhomogeneous Schr\"odinger equation is solved with the Chebychev propagation scheme presented in J. Chem. Phys. 130, 124108 (2009). The iteratively time-ordering Chebychev propagator is shown to be robust, efficient and accurate and compares very favorably to all other available propagation schemes

An efficient scheme for numerical simulations of the spin-bath decoherence

We demonstrate that the Chebyshev expansion method is a very efficient numerical tool for studying spin-bath decoherence of quantum systems. We consider two typical problems arising in studying decoherence of quantum systems consisting of few coupled spins: (i) determining the pointer states of the system, and (ii) determining the temporal decay of quantum oscillations. As our results demonstrate, for determining the pointer states, the Chebyshev-based scheme is at least a factor of 8 faster than existing algorithms based on the Suzuki-Trotter decomposition. For the problems of second type, the Chebyshev-based approach has been 3--4 times faster than the Suzuki-Trotter-based schemes. This conclusion holds qualitatively for a wide spectrum of systems, with different spin baths and different Hamiltonians.Comment: 8 pages (RevTeX), 3 EPS figure

An Exercise in Forecasting Loop Current and Eddy Frontal Positions in the Gulf of Mexico

As part of a model-evaluation exercise to forecast Loop Current and Loop Current eddy frontal positions in the Gulf of Mexico, the Princeton Regional Ocean Forecast System (PROFS) is tested to forecast 14 4-week periods Aug/25/99- Sep/20/00, during which a powerful eddy, Eddy Juggernaut (Eddy-J) separated from the Loop Current and propagated southwestward. To initialize each forecast, PROFS assimilates satellite sea surface height (SSH) anomaly and temperature (SST) by projecting them into subsurface density using a surface/subsurface correlation that is a function of the satellite SSH anomaly. The closest distances of the forecast fronts from seven fixed stations in the northern Gulf over a 4-week forecast horizon are then compared against frontal observations derived primarily from drifters. Model forecasts beat persistence and the major source of error is found to be due to the initial hindcast fields

Evolution and Nucleosynthesis of Zero Metal Intermediate Mass Stars

New stellar models with mass ranging between 4 and 8 Mo, Z=0 and Y=0.23 are presented. The models have been evolved from the pre Main Sequence up to the Asymptotic Giant Branch (AGB). At variance with previous claims, we find that these updated stellar models do experience thermal pulses in the AGB phase. In particular we show that: a) in models with mass larger than 6 Mo, the second dredge up is able to raise the CNO abundance in the envelope enough to allow a "normal" AGB evolution, in the sense that the thermal pulses and the third dredge up settle on; b) in models of lower mass, the efficiency of the CNO cycle in the H-burning shell is controlled by the carbon produced locally via the 3alpha reactions. Nevertheless the He-burning shell becomes thermally unstable after the early AGB. The expansion of the overlying layers induced by these weak He-shell flashes is not sufficient by itself to allow a deep penetration of the convective envelope. However, immediately after that, the maximum luminosity of the He flash is attained and a convective shell systematically forms at the base of the H-rich envelope. The innermost part of this convective shell probably overlaps the underlying C-rich region left by the inter-shell convection during the thermal pulse, so that fresh carbon is dredged up in a "hot" H-rich environment and a H flash occurs. This flash favours the expansion of the outermost layers already started by the weak thermal pulse and a deeper penetration of the convective envelope takes place. Then, the carbon abundance in the envelope rises to a level high enough that the further evolution of these models closely resembles that of more metal rich AGB stars. These stars provide an important source of primary carbon and nitrogen.Comment: 28 pages, 5 tables and 17 figures. Accepted for publication in Ap

Quantum Dynamics of Spin Wave Propagation Through Domain Walls

Through numerical solution of the time-dependent Schrodinger equation, we demonstrate that magnetic chains with uniaxial anisotropy support stable structures, separating ferromagnetic domains of opposite magnetization. These structures, domain walls in a quantum system, are shown to remain stable if they interact with a spin wave. We find that a domain wall transmits the longitudinal component of the spin excitations only. Our results suggests that continuous, classical spin models described by LLG equation cannot be used to describe spin wave-domain wall interaction in microscopic magnetic systems

Origin of the Canonical Ensemble: Thermalization with Decoherence

We solve the time-dependent Schrodinger equation for the combination of a spin system interacting with a spin bath environment. In particular, we focus on the time development of the reduced density matrix of the spin system. Under normal circumstances we show that the environment drives the reduced density matrix to a fully decoherent state, and furthermore the diagonal elements of the reduced density matrix approach those expected for the system in the canonical ensemble. We show one exception to the normal case is if the spin system cannot exchange energy with the spin bath. Our demonstration does not rely on time-averaging of observables nor does it assume that the coupling between system and bath is weak. Our findings show that the canonical ensemble is a state that may result from pure quantum dynamics, suggesting that quantum mechanics may be regarded as the foundation of quantum statistical mechanics.Comment: 12 pages, 4 figures, accepted for publication by J. Phys. Soc. Jp

First Stars. I. Evolution without mass loss

The first generation of stars was formed from primordial gas. Numerical simulations suggest that the first stars were predominantly very massive, with typical masses M > 100 Mo. These stars were responsible for the reionization of the universe, the initial enrichment of the intergalactic medium with heavy elements, and other cosmological consequences. In this work, we study the structure of Zero Age Main Sequence stars for a wide mass and metallicity range and the evolution of 100, 150, 200, 250 and 300 Mo galactic and pregalactic Pop III very massive stars without mass loss, with metallicity Z=10E-6 and 10E-9, respectively. Using a stellar evolution code, a system of 10 equations together with boundary conditions are solved simultaneously. For the change of chemical composition, which determines the evolution of a star, a diffusion treatment for convection and semiconvection is used. A set of 30 nuclear reactions are solved simultaneously with the stellar structure and evolution equations. Several results on the main sequence, and during the hydrogen and helium burning phases, are described. Low metallicity massive stars are hotter and more compact and luminous than their metal enriched counterparts. Due to their high temperatures, pregalactic stars activate sooner the triple alpha reaction self-producing their own heavy elements. Both galactic and pregalactic stars are radiation pressure dominated and evolve below the Eddington luminosity limit with short lifetimes. The physical characteristics of the first stars have an important influence in predictions of the ionizing photon yields from the first luminous objects; also they develop large convective cores with important helium core masses which are important for explosion calculations.Comment: 17 pages, 24 figures, 2 table