SPIRITS 16tn in NGC 3556: A heavily obscured and low-luminosity supernova at 8.8 Mpc

We present the discovery by the SPitzer InfraRed Intensive Transients Survey (SPIRITS) of a likely supernova (SN) in NGC 3556 at only 8.8 Mpc, which, despite its proximity, was not detected by optical searches. A luminous infrared (IR) transient at $M_{[4.5]} = -16.7$ mag (Vega), SPIRITS 16tn is coincident with a dust lane in the inclined, star-forming disk of the host. Using IR, optical, and radio observations, we attempt to determine the nature of this event. We estimate $A_V \approx$ 8 - 9 mag of extinction, placing it among the three most highly obscured IR-discovered SNe to date. The [4.5] light curve declined at a rate of 0.013 mag day$^{-1}$, and the $[3.6] - [4.5]$ color grew redder from 0.7 to $\gtrsim$ 1.0 mag by 184.7 days post discovery. Optical/IR spectroscopy shows a red continuum, but no clearly discernible features, preventing a definitive spectroscopic classification. Deep radio observations constrain the radio luminosity of SPIRITS 16tn to $L_{\nu} \lesssim 10^{24}$ erg s$^{-1}$ Hz$^{-1}$ between 3 - 15 GHz, excluding many varieties of radio core-collapse SNe. A type Ia SN is ruled out by the observed red IR color, and lack of features normally attributed to Fe-peak elements in the optical and IR spectra. SPIRITS 16tn was fainter at [4.5] than typical stripped-envelope SNe by $\approx$ 1 mag. Comparison of the spectral energy distribution to SNe II suggests SPIRITS 16tn was both highly obscured, and intrinsically dim, possibly akin to the low-luminosity SN 2005cs. We infer the presence of an IR dust echo powered by a peak luminosity of the transient of $5 \times 10^{40}$ erg s$^{-1} < L_{\mathrm{peak}} < 4\times10^{43}$ erg s$^{-1}$, consistent with the observed range for SNe II. This discovery illustrates the power of IR surveys to overcome the compounding effects of visible extinction and optically sub-luminous events in completing the inventory of nearby SNe.Comment: 25 pages, 10 figures, submitted to Ap

“Animal Spirits”

In “Animal Spirits” looks in some depth at several of Williams’s poems about dogs or cats written over the course of his career, from “Sub Terra” (1917); “Poem (As the cat)” (from the 1930s); the dogs of Paterson; and “To a Dog Injured in the Street,” which exemplifies the elegiac poetics and representational paradoxes of Williams’s late triadic style. Cats for Williams exemplify energy in precise control, its perfection in form—and that was his lifelong quest. Dogs, on the other paw, embodied for Williams the boundary-breaking force of uncorraled creativity breaking form. Both spirits, figured as animals, were totems central to Williams’s understanding of the human creative act, and these twin aspects of Williams’s method have proven profoundly inspirational to later writers. This article concludes with a brief consideration of the final poem Williams wrote, “Stormy,” a tribute to the Williams’s dog; in many ways it sums up the goal of his life’s work. The article ties that to A. R. Ammons’s poem “WCW,” also from the 1960s, which features an irrepressible dog as part of Ammons’s homage

Heterogeneity in Alcohol Consumption: The Case of Beer, Wine and Spirits in Australia

This paper examines Australians participation in beer, wine and spirits consumption using a trivariate probit model and unit-record data from the National Drug Strategy Household Surveys. It estimates the effects of social, economic and demographic factors on an individuals decisions of alcohol participation. The trivariate probit formulation allows for the potential correlation across the demand for the three products through unobserved personal characteristics. All three beverages are shown to have negative own-price elasticities and to be substitutes in participation. An alarming proportion of young Australians are found to be drinking spirits regularly due to the increasing popularity of pre-mixed sweet drinks.Food Consumption/Nutrition/Food Safety,

ABD Promos, September 2012, Vol. 12, no. 9

The ABD Promos Newsletter is produced monthly and details Division announcements, holiday schedules, broker promotions and a newly listed codes clipout section, which is formatted to be stapled into the Iowa Liquor Quarterly Spirits Price Book

ABD Promos, January 2014, Vol. 14, no.1

The ABD Promos Newsletter is produced monthly and details Division announcements, holiday schedules, broker promotions and a newly listed codes clipout section, which is formatted to be stapled into the Iowa Liquor Quarterly Spirits Price Book

Optimal alcohol taxes for Australia

Objective: To estimate welfare maximising tax rates for beer, wine, and spirits using a mathematical model that considers both the welfare loss alcohol taxes impose on non-abusive consumers and the welfare gains due to alcohol taxes reducing externality costs. Results: Optimal per litre of pure alcohol (LAL) tax rates are substantially different to both current alcohol tax rates and the uniform tax rate recommended as part of the 2010 Australian Government Tax Review. Given an individual consumer utility decision model, the best estimate values of the welfare maximising LAL tax rates are: $37 for beer,$11 for wine, $50 for spirits, and$77 for ready-to-drink spirits. Conclusion: As externality costs and the responsiveness of consumers to price changes are different for each alcohol type, community welfare is maximised by setting beverage specific LAL tax rates.Tax, Alcohol, Externalities, Demand and Price Analysis, Health Economics and Policy, I18, H23, H21,

Alcohol taxes, tax revenues and the Single European Market

This paper addresses the issue of whether tax revenue from alcohol lost through cross-border shopping could be recouped by cutting excise duties. This in turn depends on the elasticity of demand for alcohol. We use data from the Family Expenditure Survey 1978-96 to estimate own- and cross-price elasticities of demand for beer, wine and spirits before and after completion of the Single Market. We find no evidence of a significant change in elasticities after the Single Market. The tax rates on beer and wine are currently below their revenue-maximising rates, implying that a cut in the duty rate on beer or wine would lead to a decrease in indirect tax revenue from alcohol. We cannot reject that the current tax rate on spirits is at the revenue-maximising rate, implying that further increases in the duty on spirits are likely to cause indirect tax revenue to fall.

SPIRITS 15c and SPIRITS 14buu: Two Obscured Supernovae in the Nearby Star-Forming Galaxy IC 2163

SPIRITS---SPitzer InfraRed Intensive Transients Survey---is an ongoing survey of nearby galaxies searching for infrared (IR) transients with Spitzer/IRAC. We present the discovery and follow-up observations of one of our most luminous ($M_{[4.5]} = -17.1\pm0.4$ mag, Vega) and red ($[3.6] - [4.5] = 3.0 \pm 0.2$ mag) transients, SPIRITS 15c. The transient was detected in a dusty spiral arm of IC 2163 ($D\approx35.5$ Mpc). Pre-discovery ground-based imaging revealed an associated, shorter-duration transient in the optical and near-IR (NIR). NIR spectroscopy showed a broad ($\approx 8400$ km s$^{-1}$), double-peaked emission line of He I at $1.083 \mu$m, indicating an explosive origin. The NIR spectrum of SPIRITS 15c is similar to that of the Type IIb SN 2011dh at a phase of $\approx 200$ days. Assuming $A_V = 2.2$ mag of extinction in SPIRITS 15c provides a good match between their optical light curves. The IR light curves and the extreme $[3.6]-[4.5]$ color cannot be explained using only a standard extinction law. Another luminous ($M_{4.5} = -16.1\pm0.4$ mag) event, SPIRITS 14buu, was serendipitously discovered in the same galaxy. The source displays an optical plateau lasting $\gtrsim 80$ days, and we suggest a scenario similar to the low-luminosity Type IIP SN 2005cs obscured by $A_V \approx 1.5$ mag. Other classes of IR-luminous transients can likely be ruled out in both cases. If both events are indeed SNe, this may suggest $\gtrsim 18\%$ of nearby core-collapse SNe are missed by currently operating optical surveys.Comment: 19 pages, 7 Figures, 4 Table

Financial Globalization and Animal Spirits

Using a multi-country general equilibrium model, we demonstrate that when agents face credit constraints in an international financial market, rational expectations, which are ex-post heterogeneous between countries, cause business fluctuations. If the international financial market becomes perfect, only a unique perfect foresight equilibrium is obtained, implying that no business fluctuations appear.Business fluctuations; Financial globalization; Sunspots; Heterogeneous agents; Rational expectations

Animal Spirits Meets Creative Destruction

We show how a Schumpeterian process of creative destruction can induce coordination in the timing of entrepreneurial activities across diverse sectors of the economy.Consequently, a multi-sector economy, in which sector-specific, productivity improvements are made by independent, profit-seeking entrepreneurs, can exhibit regular booms, slowdowns and downturns as an inherent part of the long-run growth process.The cyclical equilibrium that we study has a higher long-run growth rate but lower welfare than the corresponding acyclical one.We find that the cycles generated by our model share some features of actual business cycles, and that across cycling economies, a negative relationship emerges between volatility and growth.economic growth;entrepreneurship;innovation;business cycles