On the growth and velocity effects of money

We show that a one-sector AK model of endogenous growth with the most generalized cash-in-advance constraint is able to account for (i) the observed long-run negative relationship between the nominal growth rate of money and the income velocity of money, (ii) the empirically ambiguous effect of changing inflation on the economy's output growth, and (iii) the divergent growth experience of countries that start with similar macroeconomic conditions.

Classification under Streaming Emerging New Classes: A Solution using Completely Random Trees

This paper investigates an important problem in stream mining, i.e., classification under streaming emerging new classes or SENC. The common approach is to treat it as a classification problem and solve it using either a supervised learner or a semi-supervised learner. We propose an alternative approach by using unsupervised learning as the basis to solve this problem. The SENC problem can be decomposed into three sub problems: detecting emerging new classes, classifying for known classes, and updating models to enable classification of instances of the new class and detection of more emerging new classes. The proposed method employs completely random trees which have been shown to work well in unsupervised learning and supervised learning independently in the literature. This is the first time, as far as we know, that completely random trees are used as a single common core to solve all three sub problems: unsupervised learning, supervised learning and model update in data streams. We show that the proposed unsupervised-learning-focused method often achieves significantly better outcomes than existing classification-focused methods

Rare case of magnetic Ag3+^{3+} ion: double perovskite Cs2_{2}KAgF6_{6}

Normally $4d$ or $5d$ transition metals are in a low-spin state. Here using first-principles calculations, we report on a rare case of a high-spin $S$=1 magnetic state for the Ag$^{3+}$ ion in the double perovskite Cs$_{2}$KAgF$_{6}$. We also explored a possibility of a conventional low-spin $S$=0 ground state and find an associated tetragonal distortion to be 0.29 {\AA}. However, the lattice elastic energy cost and the Hund exchange loss exceed the e$_{g}$ crystal-field energy gain, thus making the low-spin tetragonal structure less favorable than the high-spin cubic structure. We conclude that the compact perovskite structure of Cs$_{2}$KAgF$_{6}$ is an important factor in stabilizing the unusual high-spin ground state of Ag$^{3+}$.Comment: 6 pages, 6 figures, accepted for publication in PR