Inflation differentials in the euro area : size, causes, economic policy implications and relative position of Belgium

Both the size and the persistence of inflation differentials in the euro area have been the subject of a large number of studies in recent years. These studies have tried to determine the causes of these differentials as well as their implications not only for the implementation of the common monetary policy but also in terms of the macroeconomic policies needed at the country level. Indeed, since the start of Stage Three of the EMU, countries can no longer correct country-specific imbalances or idiosyncratic shocks through changing their national monetary policy stance. As a consequence, it may be deemed fit, in some cases, to take appropriate policy measures aimed at reducing inflation differentials. The article tackles the case of Belgium, in which country the inflation differentials vis-à-vis the euro area appear to be relatively small and do not seem to show any persistence or any systematic upward or downward bias. However, empirical studies based on the “Balassa-Samuelson” theory have concluded that Belgium should be prone to a relatively high inflation rate. This theory holds that, on restrictive assumptions, a real appreciation (or positive inflation differential) is generated in countries showing the most rapid growth of the productivity differential between the traded and non-traded goods sectors. The article goes into those rather surprising results. The authors observed a pronounced increase of relative productivity in Belgium and a strong positive correlation between relative productivity and relative prices, measured by the value added deflator, which proves to be consistent with the theory and the results of previous studies. These studies have typically assumed that the tradable sector showed purchasing power parity. In that case, the pronounced increase in relative prices has strong implications for the real exchange rate (or inflation differentials). However, the authors found empirical evidence against this hypothesis in the Belgian case. Indeed, the real exchange rate in the tradable sector depreciated strongly in the seventies and the early eighties. This depreciation in the tradable sector offset the impact of the positive relative price differential, causing the real exchange rate for the economy as a whole to be relatively stable. Belgium should therefore not be an economy prone to high inflation. As the HICP is the main indicator monitored by the European monetary authorities, it was important to examine whether such conclusions could also be drawn for the consumer price index. The authors found similar results, namely a stable real exchange rate for the Belgian economy as a whole during the period under review and, therefore, the absence of any structural reason for inflation to be systematically higher in Belgium. It may thus be concluded that significant and persistent inflation differentials between Belgium and the euro area or a systematic bias in any particular direction are unlikely and, therefore, that the European monetary policy is appropriate for the Belgian economy in the current environment.Real exchange rates, Inflation differentials, Balassa-Samuelson effect, European Monetary Union

Anode-Coupled Readout for Light Collection in Liquid Argon TPCs

This paper will discuss a new method of signal read-out from photon detectors in ultra-large, underground liquid argon time projection chambers. In this design, the signal from the light collection system is coupled via capacitive plates to the TPC wire-planes. This signal is then read out using the same cabling and electronics as the charge information. This greatly benefits light collection: it eliminates the need for an independent readout, substantially reducing cost; It reduces the number of cables in the vapor region of the TPC that can produce impurities; And it cuts down on the number of feed-throughs in the cryostat wall that can cause heat-leaks and potential points of failure. We present experimental results that demonstrate the sensitivity of a LArTPC wire plane to photon detector signals. We also simulate the effect of a 1 $\mu$s shaping time and a 2 MHz sampling rate on these signals in the presence of noise, and find that a single photoelectron timing resolution of $\sim$30 ns can be achieved.Comment: 16 pages, 15 figure

Collective electromagnetic relaxation in crystals of molecular magnets

We study the magnetization reversal and electromagnetic radiation due to collective Landau-Zener relaxation in a crystal of molecular magnets. Analytical and numerical solutions for the time dependence of the relaxation process are obtained. The power of the radiation and the total emitted energy are computed as functions of the crystal parameters and the field sweep rate.Comment: 7 pages, 9 figure

The puzzle of the soft X-ray excess in AGN: absorption or reflection?

The 2-10 keV continuum of AGN is generally well represented by a single power law. However, at smaller energies the continuum displays an excess with respect to the extrapolation of this power law, called the ''soft X-ray excess''. Until now this soft X-ray excess was attributed, either to reflection of the hard X-ray source by the accretion disk, or to the presence of an additional comptonizing medium, giving a steep spectrum. An alternative solution proposed by Gierlinski and Done (2004) is that a single power law well represents both the soft and the hard X-ray emission and the impression of the soft X-ray excess is due to absorption of a primary power law by a relativistic wind. We examine the advantages and drawbacks of reflection versus absorption models, and we conclude that the observed spectra can be well modeled, either by absorption (for a strong excess), or by reflection (for a weak excess). However the physical conditions required by the absorption models do not seem very realistic: we would prefer an ''hybrid model''.Comment: 4 pages, 3 figures, abstracts SF2A-2005, published by EDP-Sciences Conference Serie

Landau-Zener-St\"uckelberg Spectroscopy of a Superconducting Flux Qubit

We proposed a new method to measure the energy spectrum of a superconducting flux qubit. Different from the conventional frequency spectroscopy, a short triangle pulse is used to drive the qubit through the anticrossing and generates Landau-Zener-St\"uckelberg interference patterns, from which the information of the energy spectrum can be extracted. Without installing microwave lines one can simplify the experimental setup and reduce the unwanted effects of noise. Moreover, the method can be applied to other quantum systems, opening the possibility of calibrating and manipulating qubits with linear pulses.Comment: 7 pages, 5 figure

Improved TPB-coated Light Guides for Liquid Argon TPC Light Detection Systems

Scintillation light produced in liquid argon (LAr) must be shifted from 128 nm to visible wavelengths in light detection systems used for liquid argon time-projection chambers (LArTPCs). To date, LArTPC light collection systems have employed tetraphenyl butadiene (TPB) coatings on photomultiplier tubes (PMTs) or plates placed in front of the PMTs. Recently, a new approach using TPB-coated light guides was proposed. In this paper, we report on light guides with improved attenuation lengths above 100 cm when measured in air. This is an important step in the development of meter-scale light guides for future LArTPCs. Improvements come from using a new acrylic-based coating, diamond-polished cast UV transmitting acrylic bars, and a hand-dipping technique to coat the bars. We discuss a model for connecting bar response in air to response in liquid argon and compare this to data taken in liquid argon. The good agreement between the prediction of the model and the measured response in liquid argon demonstrates that characterization in air is sufficient for quality control of bar production. This model can be used in simulations of light guides for future experiments.Comment: 25 pages, 20 figure

Integrating a Genetic Algorithm Into a Knowledge-Based System for Ordering Complex Design Processes

The design cycle associated with large engineering systems requires an initial decomposition of the complex system into design processes which are coupled through the transference of output data. Some of these design processes may be grouped into iterative subcycles. In analyzing or optimizing such a coupled system, it is essential to be able to determine the best ordering of the processes within these subcycles to reduce design cycle time and cost. Many decomposition approaches assume the capability is available to determine what design processes and couplings exist and what order of execution will be imposed during the design cycle. Unfortunately, this is often a complex problem and beyond the capabilities of a human design manager. A new feature, a genetic algorithm, has been added to DeMAID (Design Manager's Aid for Intelligent Decomposition) to allow the design manager to rapidly examine many different combinations of ordering processes in an iterative subcycle and to optimize the ordering based on cost, time, and iteration requirements. Two sample test cases are presented to show the effects of optimizing the ordering with a genetic algorithm

Periorbital edema secondary to imatinib mesylate

Collin M McClelland, George J Harocopos, Philip L CusterSchool of Medicine, Washington University, St. Louis, MO, USAAbstract: Imatinib mesylate (Gleevec®) is a well-established pharmacologic treatment for all phases of chronic myeloid leukemia and for advanced gastrointestinal stromal tumors (GISTs). Edema-related side effects are relatively common in imatinib therapy with the periocular skin representing one of the most common sites for localized edema. While the adverse effect of periorbital edema with imatinib is well documented in the oncology literature, there is limited reference to this common reaction in the ophthalmology literature. We report two patients with upper eyelid edema associated with imatinib therapy who required surgical intervention to ameliorate significant visual field obstruction. We highlight the details of each case including the histopathologic findings of excised redundant skin followed by a thorough review of the literature on imatinib related periorbital edema.Keywords: imatinib mesylate, gleevec, edema, periorbital edema, tyrosine kinase inhibito

Spin-orbit coupled Bose-Einstein condensate in a tilted optical lattice

Bloch oscillations appear for a particle in a weakly tilted periodic potential. The intrinsic spin Hall effect is an outcome of a spin-orbit coupling. We demonstrate that both these phenomena can be realized simultaneously in a gas of weakly interacting ultracold atoms exposed to a tilted optical lattice and to a set of spatially dependent light fields inducing an effective spin-orbit coupling. It is found that both the spin Hall as well as the Bloch oscillation effects may coexist, showing, however, a strong correlation between the two. These correlations are manifested as a transverse spin current oscillating in-phase with the Bloch oscillations.Comment: 12 pages, 7 figure