94,344 research outputs found

    Science and Subpoenas: When do the Courts Become Instruments of Manipulation?

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    Fischer says he believes that the uneasy relationship between law and science is likely to continue regarding disclosure of scientific research materials

    Aspects of quark mass generation on a torus

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    In this talk we report on recent results for the quark propagator on a compact manifold. The corresponding Dyson-Schwinger equations on a torus are solved on volumes similar to the ones used in lattice calculations. The quark-gluon interaction is fixed such that the lattice results are reproduced. We discuss both the effects in the infinite volume/continuum limit as well as effects when the volume is small.Comment: 3 pages, 3 figures; talk given by CF at QNP06, Madrid, June 200

    European hoarding: currency use among immigrants in Switzerland

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    Do immigrants have a higher demand for large denominated banknotes than natives? This study examines whether cash orders for CHF 1000 notes, a banknote not used for daily transactions, is concentrated in Swiss cities with a high foreign-to-native ratio. Controlling for a range of socio-economic indicators across 250 Swiss cities, European immigrants in Switzerland are found to hoard less CHF 1000 banknotes than natives. A 1 percent increase in the immigrant-to-native ratio leads to a reduction in currency orders by CHF 4000. This negative correlation between immigrant-to-native ratio and currency orders for CHF 1000 notes holds irrespective of the European immigrants' country of origin. Hoarding of large denominated banknotes by natives is attributed tax avoidance.Money ; Immigrants ; Bank notes ; Monetary policy

    On the Inadequacy of Newswire Reports for Empirical Research on Foreign Exchange Interventions

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    Newswire reports have become an accepted tool for empirical studies analyzing informational asymmetries in FX markets. This paper tests the accuracy of such reports for Swiss interventions in the foreign exchange market. The evidence finds that the time stamp of the reports does not always lie near the recorded time of the first intervention trade as is commonly assumed in market microstructure studies. The standard deviation of the time difference is measured in hours and not in minutes. These and other regression results question the accuracy of newswire reports for Swiss interventions.Central Bank Interventions, Intra-Daily Data, Newswire Reports

    Measuring carrier density in parallel conduction layers of quantum Hall systems

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    An experimental analysis for two parallel conducting layers determines the full resistivity tensor of the parallel layer, at magnetic fields where the other layer is in the quantum Hall regime. In heterostructures which exhibit parallel conduction in the modulation-doped layer, this analysis quantitatively determines the charge density in the doping layer and can be used to estimate the mobility. To illustrate one application, experimental data show magnetic freeze-out of parallel conduction in a modulation doped heterojunction. As another example, the carrier density of a minimally populated second subband in a two-subband quantum well is determined. A simple formula is derived that can estimate the carrier density in a highly resistive parallel layer from a single Hall measurement of the total system.Comment: 7 pages, 7 figure


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    This paper presents a theoretical neoclassical growth model with two kinds of capital, and technological interdependence among regions. Technological interdependence is assumed to operate through spatial externalities caused by disembodied knowledge diffusion between technologically similar regions. The transition from theory to econometrics yields a reduced-form empirical model that in the spatial econometrics literature is known as spatial Durbin model. Technological dependence between regions is formulated by a connectivity matrix that measures closeness of regions in a technological space spanned by 120 distinct technological fields. We use a system of 158 regions across 14 European countries over the period from 1995 to 2004 to empirically test the model. The paper illustrates the importance of an impact-based model interpretation, in terms of the LeSage and Pace (2009) approach, to correctly quantify the magnitude of spillover effects that avoid incorrect inferences about the presence or absence of significant capital externalities among technologically similar regions.Economic growth, augmented Mankiw-Romer-Weil model, disembodied knowledge diffusion, technological similarity between regions, spatial econometrics, European regions

    Measuring Income Elasticity for Swiss Money Demand: What do the Cantons say about Financial Innovation?

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    Recent time-series evidence has re-confirmed the forecasting ability of Swiss broad money. The same money demand studies and others, however, find that the income elasticity is greater than one. Such parameter estimates are difficult to reconcile with transactions demand theory. This study re-examines the estimates for income elasticity in money demand based on cross-regional evidence for Switzerland. Particular attention is given to the influence of regional financial sophistication. The cross-cantonal results find that the income elasticity lies between 0.4 and 0.6. This discrepancy between the two empirical methodologies has important consequences for the conduct of Swiss monetary policy.Money Demand, Cross-Regional Estimates, Regional Financial Sophistication
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