Geochelone carbonaria

Number of Pages: 7Integrative BiologyGeological Science

The Swiss National Bank's monetary policy concept - an example of a 'principles-based' policy framework

The practice of monetary policy has evolved a great deal since the early 1990s. This evolution was significantly influenced by rapid developments in the theory of monetary policy. A new consensus about 'principles-based' monetary policy appears to be emerging. It marries a firm long-term anchor for nominal stability, rooted in the original ideas behind inflation targeting, with short-term flexibility, based on a more discretionary and pragmatic approach to monetary policy. The SNB's monetary policy framework - with a firm nominal anchor but with an emphasis on the need for flexibility - reflects, to a considerable degree, the emerging academic consensus about best-practice monetary policy. With its successful seven-year track record, it may serve as an interesting case study for a policy aiming at an intermediate position between full discretion and rigidly defined short-term inflation targeting.Swiss National Bank, monetary policy, inflation targeting, rules, discretion

Instellar grains within interstellar grains

The discovery of crystals of titanium carbide in an interstellar graphite spherule is reported. The new species is particularly interesting in that it came in a protective wrapping (the graphite spherule) which eliminated the possibility of chemical alteration during its residence in the interstellar medium and in the meteorite in which it was discovered

Microscopic approach to pion-nucleus dynamics

Elastic scattering of pions from finite nuclei is investigated utilizing a contemporary, momentum--space first--order optical potential combined with microscopic estimates of second--order corrections. The calculation of the first--order potential includes:\ \ (1)~full Fermi--averaging integration including both the delta propagation and the intrinsic nonlocalities in the $\pi$-$N$ amplitude, (2)~fully covariant kinematics, (3)~use of invariant amplitudes which do not contain kinematic singularities, and (4)~a finite--range off--shell pion--nucleon model which contains the nucleon pole term. The effect of the delta--nucleus interaction is included via the mean spectral--energy approximation. It is demonstrated that this produces a convergent perturbation theory in which the Pauli corrections (here treated as a second--order term) cancel remarkably against the pion true absorption terms. Parameter--free results, including the delta--nucleus shell--model potential, Pauli corrections, pion true absorption, and short--range correlations are presented. (2 figures available from authors)Comment: 13 page

Quantum Magnetic Properties in Perovskite with Anderson Localized Artificial Spin-1/2

Quantum magnetic properties in a geometrically frustrated lattice of spin-1/2 magnet, such as quantum spin liquid or solid and the associated spin fractionalization, are considered key in developing a new phase of matter. The feasibility of observing the quantum magnetic properties, usually found in geometrically frustrated lattice of spin-1/2 magnet, in a perovskite material with controlled disorder is demonstrated. It is found that the controlled chemical disorder, due to the chemical substitution of Ru ions by Co-ions, in a simple perovskite CaRuO3 creates a random prototype configuration of artificial spin-1/2 that forms dimer pairs between the nearest and further away ions. The localization of the Co impurity in the Ru matrix is analyzed using the Anderson localization formulation. The dimers of artificial spin-1/2, due to the localization of Co impurities, exhibit singlet-to-triplet excitation at low temperature without any ordered spin correlation. The localized gapped excitation evolves into a gapless quasi-continuum as dimer pairs break and create freely fluctuating fractionalized spins at high temperature. Together, these properties hint at a new quantum magnetic state with strong resemblance to the resonance valence bond system.Comment: 8 pages, 6 figure