Can Fiscal Policy Stimulus Boost Economic Recovery?

We assess the role played by fiscal policy in explaining the dynamics of asset markets. Using a panel of ten industrialized countries, we show that a positive fiscal shock has a negative impact in both stock and housing prices. However, while stock prices immediately adjust to the shock and the effect of fiscal policy is temporary, housing prices gradually and persistently fall. Consequently, the attempts of fiscal policy to mitigate stock price developments (e.g. via taxes on capital gains) may severely de-stabilize housing markets. The empirical findings also point to significant fiscal multiplier effects in the context of severe housing busts, which gives rise to the importance of the implementation of fiscal stimulus packages. In addition, our results suggest that when governments run a budget deficit, they place an upward pressure on real interest rates, which "crowds-out" private consumption and investment. In contrast, during bust periods, unexpected variation in the fiscal stance crowds-in private spending, which reflects the "direct" and "indirect" effects of policy actions impact arising from a downward movement in real interest rates and an upward revision in price level expectations.Fiscal policy, asset prices, panel VAR.

Ab initio calculation of the dynamical properties of PPP and PPV

In this work, we have calculated the vibrational modes and frequencies of the crystalline PPP (in both the Pbam and Pnnm symmetries) and PPV (in the P21/c symmetry). Our results are in good agreement with the available experimental data. Also, we have calculated the temperature dependence of their specific heats at constant volume, and of their vibrational entropies. Based on our results, at high temperatures, the PPP is more stable in the Pnnm structure than in the Pbam one.Comment: 5 pages, 7 figures, accepted for publication in Braz. J. Phys., special number, Proceedings of BWSP-12, 12th Brazilian Workshop on Semiconductor Physic

Scale insects (Hemiptera: Coccoidea) of ornamental plants from Sao Carlos, Sao Paulo, Brazil

A list of 35 scale insects collected from 72 ornamental plant species in Sao Carlos, Sao Paulo, Brazil is provided. Regarding host specificity, 30 scale insects were polyphagous, 4 oligophagous, and 1 monophagous. A total of 102 coccoid/plant associations are recorded, 29 of which are new host records for the species; 60 are new host records for the species in Brazil. Pulvinaria urbicola Cockerell, 1893 (Coccidae), Phenacoccus similis Granara de Willink, 1983 (Pseudococcidae), and Orthezia molinarii (Morrison, 1952) (Ortheziidae) are recorded for the first time in Brazil. In addition, we describe the injury caused by scale insects on ornamental plants

Respective influence of in-plane and out-of-plane spin-transfer torques in magnetization switching of perpendicular magnetic tunnel junctions

The relative contributions of in-plane (damping-like) and out-of-plane (field-like) spin-transfer-torques in the magnetization switching of out-of-plane magnetized magnetic tunnel junctions (pMTJ) has been theoretically analyzed using the transformed Landau-Lifshitz (LL) equation with the STT terms. It is demonstrated that in a pMTJ structure obeying macrospin dynamics, the out-of-plane torque influences the precession frequency but it does not contribute significantly to the STT switching process (in particular to the switching time and switching current density), which is mostly determined by the in-plane STT contribution. This conclusion is confirmed by finite temperature and finite writing pulse macrospin simulations of the current-field switching diagrams. It contrasts with the case of STT-switching in in-plane magnetized MTJ in which the field-like term also influences the switching critical current. This theoretical analysis was successfully applied to the interpretation of voltage-field STT switching diagrams experimentally measured on perpendicular MTJ pillars 36 nm in diameter, which exhibit macrospin-like behavior. The physical nonequivalence of Landau and Gilbert dissipation terms in presence of STT-induced dynamics is also discussed

Graviton resonances on two-field thick branes

This work presents new results about the graviton massive spectrum in two-field thick branes. Analyzing the massive spectra with a relative probability method we have firstly showed the presence of resonance structures and obtained a connection between the thickness of the defect and the lifetimes of such resonances. We obtain another interesting results considering the degenerate Bloch brane solutions. In these thick brane models, we have the emergence of a splitting effect controlled by a degeneracy parameter. When the degeneracy constant tends to a critical value, we have found massive resonances to the gravitational field indicating the existence of modes highly coupled to the brane. We also discussed the influence of the brane splitting effect over the resonance lifetimes.Comment: 15 pages, 8 figure

Response to tilted magnetic fields in Bi2Sr2CaCu2O8 with columnar defects: Evidence for transverse Meissner effect

The transverse Meissner effect (TME) in the highly layered superconductor Bi2Sr2CaCu2O(8+y) with columnar defects is investigated by transport measurements. We present detailed evidence for the persistence of the Bose-glass phase when H is tilted at an angle theta < theta_c (T) away from the column direction: (i) the variable-range vortex hopping process for low currents crosses over to the half-loops regime for high currents; (ii) in both regimes near theta_c(T) the energy barriers vanish linearly with tan(theta) ; (iii) the transition temperature is governed by T_{BG}(0) -T_{BG}(theta) sim |tan(theta)|^{1/\nu_{\perp}} with \nu_{\perp}=1.0 +/- 0.1. Furthermore, above the transition as theta->\theta_c+, moving kink chains consistent with a commensurate-incommensurate transition scenario are observed. These results thereby clearly show the existence of the TME for theta < theta_c(T).Comment: 4 pages, RevTeX, 5 EPS figure

US-China policy on global trade: A survey of selected literature

This study presents an analysis of research about US-China Policy on global trade, between 2015 and 2019. The research methodology was supported by a bibliometric analysis using Web of Science(WOS) and Scopus, broadening the understanding about the subject and understanding that there is a certain orientation of these studies for Policy. This article presents a demonstration of how research in US-China Policy on Global Trade has been treated by researchers in a global perspective. The research questions that guide this research were: RQ1: What were the main keywords present in studies of US-China Policy on Global Trade?; RQ2: Which sectors were studied on US-China Policy on Global Trade studies?; and RQ3: Which technologies were studied on US-China Policy on Global Trade studies? The main findings of this research are the trends identified on the studies analysed, namely, the most cited keyword that emerged from the literature review.info:eu-repo/semantics/publishedVersio