Changes in variability of the business cycle in the G7 countries

Volatility breaks are tested and documented for 19 important monthlymacroeconomic time series across the G7 countries. Across all conditional meanspecifications considered, including both linear and nonlinear models with andwithout a structural break, volatility breaks are found to be widespread. Thiscontinues to hold when business cycle nonlinearities are allowed in thevariance. Multiple volatility breaks are also examined, and these are found tobe especially prevalent for short-term interest rates. Volatility breaks inindustrial production and consumer prices are largely synchronous across theG7. The facts established are discussed in the context of some explanationsput forward in the literature to explain volatility breaks previously foundfor US series.Volatility;Growth;Business cycle nonlinearity;Structural change tests

Testing for causality in variance in the presence of breaks

We examine the size properties of tests for causality in variance in thepresence of structural breaks in volatility. Extensive Monte Carlo simulationsdemonstrate that these tests suffer from severe size distortions when suchbreaks are not taken into account. Pre-testing the series for structuralchanges in volatility is shown to largely remedy the problem.structural change;causality tests;volatitilty

Testing for causality in variance in the presence of breaks

We examine the size properties of tests for causality in variance in the presence of structural breaks in volatility. Extensive Monte Carlo simulations demonstrate that these tests suffer from severe size distortions when such breaks are not taken into account. Pre-testing the series for structural changes in volatility is shown to largely remedy the problem

Changes in variability of the business cycle in the G7 countries

Volatility breaks are tested and documented for 19 important monthly macroeconomic time series across the G7 countries. Across all conditional mean specifications considered, including both linear and nonlinear models with and without a structural break, volatility breaks are found to be widespread. This continues to hold when business cycle nonlinearities are allowed in the variance. Multiple volatility breaks are also examined, and these are found to be especially prevalent for short-term interest rates. Volatility breaks in industrial production and consumer prices are largely synchronous across the G7. The facts established are discussed in the context of some explanations put forward in the literature to explain volatility breaks previously found for US series

Trend-cycle-seasonal interactions:identification and estimation

Economists typically use seasonally adjusted data in which the assumption is imposed that seasonality is uncorrelated with trend and cycle. The importance of this assumption has been highlighted by the Great Recession. The paper examines an unobserved components model that permits nonzero correlations between seasonal and nonseasonal shocks. Identification conditions for estimation of the parameters are discussed from the perspectives of both analytical and simulation results. Applications to UK household consumption expenditures and US employment reject the zero correlation restrictions and also show that the correlation assumptions imposed have important implications about the evolution of the trend and cycle in the post-Great Recession period

Effects of C, Cu and Be substitutions in superconducting MgB2

Density functional calculations are used to investigate the effects of partial substitutional alloying of the B site in MgB2 with C and Be alone and combined with alloying of the Mg site with Cu. The effect of such substitutions on the electronic structure, electron phonon coupling and superconductivity are discussed. We find that Be substitution for B is unfavorable for superconductivity as it leads to a softer lattice and weaker electron-phonon couplings. Replacement of Mg by Cu leads to an increase in the stiffness and doping level at the same time, while the carrier concentration can be controlled by partial replacement of B by C. We estimate that with full replacement of Mg by Cu and fractional substitution of B by C, Tc values of 50K may be attainable.Comment: 5 pages, 4 figure

Lattice calculation of 1−+1^{-+} hybrid mesons with improved Kogut-Susskind fermions

We report on a lattice determination of the mass of the exotic $1^{-+}$ hybrid meson using an improved Kogut-Susskind action. Results from both quenched and dynamical quark simulations are presented. We also compare with earlier results using Wilson quarks at heavier quark masses. The results on lattices with three flavors of dynamical quarks show effects of sea quarks on the hybrid propagators which probably result from coupling to two meson states. We extrapolate the quenched results to the physical light quark mass to allow comparison with experimental candidates for the $1^{-+}$ hybrid meson. The lattice result remains somewhat heavier than the experimental result, although it may be consistent with the $\pi_1(1600)$.Comment: 24 pages, 12 figures. Replaced to match published versio

Electromagnetic corrections in eta --> 3 pi decays

We re-evaluate the electromagnetic corrections to eta --> 3 pi decays at next-to-leading order in the chiral expansion, arguing that effects of order e^2(m_u-m_d) disregarded so far are not negligible compared to other contributions of order e^2 times a light quark mass. Despite the appearance of the Coulomb pole in eta --> pi+ pi- pi0 and cusps in eta --> 3 pi0, the overall corrections remain small.Comment: 21 pages, 11 figures; references updated, version published in EPJ

A hot mini-Neptune in the radius valley orbiting solar analogue HD 110113

We report the discovery of HD 110113 b (TESS object of interest-755.01), a transiting mini-Neptune exoplanet on a 2.5-d orbit around the solar-analogue HD 110113 (Teff = 5730 K). Using TESS photometry and High Accuracy Radial velocity Planet Searcher (HARPS) radial velocities gathered by the NCORES program, we find that HD 110113 b has a radius of 2.05 ± 0.12 R⊕ and a mass of 4.55 ± 0.62 M⊕. The resulting density of $2.90^{+0.75}_{-0.59}$ g cm-3 is significantly lower than would be expected from a pure-rock world; therefore HD 110113 b must be a mini-Neptune with a significant volatile atmosphere. The high incident flux places it within the so-called radius valley; however, HD 110113 b was able to hold on to a substantial (0.1-1 per cent) H-He atmosphere over its ∼4 Gyr lifetime. Through a novel simultaneous Gaussian process fit to multiple activity indicators, we were also able to fit for the strong stellar rotation signal with period 20.8 ± 1.2 d from the RVs and confirm an additional non-transiting planet, HD 110113 c, which has a mass of 10.5 ± 1.2 M⊕ and a period of $6.744^{+0.008}_{-0.009}$ d

Should science educators deal with the science/religion issue?

I begin by examining the natures of science and religion before looking at the ways in which they relate to one another. I then look at a number of case studies that centre on the relationships between science and religion, including attempts to find mechanisms for divine action in quantum theory and chaos theory, creationism, genetic engineering and the writings of Richard Dawkins. Finally, I consider some of the pedagogical issues that would need to be considered if the science/religion issue is to be addressed in the classroom. I conclude that there are increasing arguments in favour of science educators teaching about the science/religion issue. The principal reason for this is to help students better to learn science. However, such teaching makes greater demands on science educators than has generally been the case. Certain of these demands are identified and some specific suggestions are made as to how a science educator might deal with the science/religion issue. © 2008 Taylor & Francis