Novel Panel Cointegration Tests Emending for Cross-Section Dependence with N Fixed

In this paper, we propose new cointegration tests for single equations and panels. Inboth cases, the asymptotic distributions of the tests, which are derived with N fixed andT → ∞, are shown to be standard normals. The effects of serial correlation and crosssectionaldependence are mopped out via long-run variances. An effective bias correctionis derived which is shown to work well in finite samples; particularly when N is smallerthan T. Our panel tests are robust to possible cointegration across units.

Differential cross section measurements for elastic scattering of electrons from Ar2+ and Xe2+

A crossed-beams energy-loss spectrometer has been used to investigate angular distributions for electron scattering from Ar2+ and Xe2+ ions, at a collision energy of 16 eV. For Ar2+ the measurements are compared with the predictions of a partial waves calculation based on a semi-empirical potential, where it is shown that the interference term governs the position of the observed minimum in the angular distribution.

Effect of a finite energy spread of the positron beam on the threshold behaviour of the positron annihilation cross section

In a recent paper [Phys. Rev. Lett. 88, 163202 (2002)] we established the threshold behavior of the cross section of positron-atom annihilation into two gamma quanta near the positronium (Ps)-formation threshold. Here, the near-threshold behavior of the positron 3 gamma annihilation cross section and its relation to the ortho-Ps-formation cross section are determined. We also analyze the feasibility of observing these effects by examining the effect of the ?nite-energy resolution of a positron beam on the threshold behavior.

Panel unit root tests in the presence of cross-sectional dependence: finite sample performance and an application

This paper examines the finite sample properties of three testing regimes for the null hypothesis of a panel unit root against stationary alternatives in the presence of cross-sectional correlation. The regimes of Bai and Ng (2004), Moon and Perron (2004) and Pesaran (2007) are assessed in the presence of multiple factors and also other non-standard situations. The behaviour of some information criteria used to determine the number of factors in a panel is examined and new information criteria with improved properties in small-N panels proposed. An application to the efficient markets hypothesis is also provided. The null hypothesis of a panel random walk is not rejected by any of the tests, supporting the efficient markets hypothesis in the financial services sector of the Australian Stock Exchange.

ARE OECD MACROECONOMIC VARIABLES TREND STATIONARY? EVIDENCE FROM PANEL STATIONARITY TESTS ALLOWING FOR A STRUCTURAL BREAK AND CROSS-SECTIONAL DEPENDENCE

This article applies the panel stationarity test with a break proposed by Hadri and Rao (2008) to examine whether 14 macroeconomic variables of OECD countries can be best represented as random walk or stationary fluctuations around a deterministic trend. In contrast to previous studies, based essentially on visual inspection of the break type or just applying the most general break model, we use a model selection procedure based on BIC. We do this for each time series so that heterogeneous break models are allowed for in the panel. Our results suggest, overwhelmingly, that if we account for a structural break, cross-sectional dependence and choose the break models to be congruent with the data, then the null of stationarity cannot be rejected for all the 14 macroeconomic variables examined in this article. This is in sharp contrast with the results obtained by Hurlin (2004), using the same data but a different methodology.

Target Structure Induced Suppression of the Ionization Cross Section for Very Low Energy Antiproton-Hydrogen Collisions

Low energy antiprotons have been used previously to give benchmark data for theories of atomic collisions. Here we present measurements of the cross section for single, nondissociative ionization of molecular hydrogen for impact of antiprotons with kinetic energies in the range 2-11 keV, i.e., in the velocity interval of 0.3-0.65 a.u. We find a cross section which is proportional to the projectile velocity, which is quite unlike the behavior of corresponding atomic cross sections, and which has never previously been observed experimentally.

Design of engineered reflectors for radar cross section modification

A technique is proposed for the design of engineered reflectors consisting of doubly periodic arrays printed on thin grounded dielectric substrates that reflect an incoming wave from a given incoming direction to a predetermined outgoing direction. The proposed technique is based on a combination of Floquet theory for propagation in periodic structures and reflect-array principles. A flat surface designed to reflect a TE polarized wave incident at 45 back in the direction of the impinging signal at 14.7 GHz is employed as an example. By means of full-wave simulations, it is demonstrated that the monostatic RCS of a finite reflector is comparable with the specular RCS of a metallic mirror of the same dimensions. It is further shown that comparably high monostatic RCS values are obtained for angles of incidence in the 30-60 range, which are frequency dependent and thus open opportunities for target localization. A prototype array is fabricated and experimentally tested for validation. The proposed solution can be used to modify the radar cross section of a target. Other potential applications are also discussed. © 1963-2012 IEEE.

Switchable radar cross-section evanescent waveguide antenna affiliation

We present a simple method of forming a switchable radar cross-section (RCS) in evanescent waveguide.Here, the antenna can be selected to be matched to free space, or to act as an almost perfect reflector of incident energy via a single SPST switch located at the antenna aperture. With the aperture switch open, the antenna is matched over a measured bandwidth of 17.5%, from 2.35 to 2.8 GHz, for reflection coefficient <-10 dB, in 2.725 GHz cutoff waveguide. With the aperture switch closed, a minimum reflection coefficient of -2.5 dB across the bandwidth is observed, proving that the antenna has the capacity to be made RCS reconfigurable. © 2012 Wiley Periodicals, Inc. Microwave Opt Technol Lett 54:1849–1851, 2012; View this article online at wileyonlinelibrary.com. DOI 10.1002/mop.26981

Detection of an artificial target with low radar cross-section in presence of backscatter

This paper presents an approach to improve the detection of an artificial target with low radar cross-section in presence of clutter. The target proposed in the paper modulates the phase response of the circularly polarized incident signal by means of rotation. The same physical phenomenon can be used to steer the modulated response in a non-specular direction. The bi-static measurements of the response of the target have demonstrated good agreement with theoretical prediction as well as with full-wave simulation.

The cross-section of stock returns in an early stock market

Using a new dataset which contains monthly data on 1015 stocks traded on the London Stock Exchange between 1825 and 1870, we investigate the cross section of stock returns in this early capital market. Unique features of this market allow us to evaluate the veracity of several popular explanations of asset pricing behavior. Using portfolio analysis and Fama–MacBeth regressions, we find that stock characteristics such as beta, illiquidity, dividend yield, and past-year return performance are all positively correlated with stock returns. However, market capitalization and past-three-year return performance have no significant correlation with stock returns.

A Low Radar Cross Section Dipole Antenna Simulation

This paper reports a new method for reducing theRadar Cross-Section (RCS) of a metal backed dipole antenna. Numerical simulations are used to show that when the Perfect Electrical Conductor (PEC) is replaced by a carefully designedFrequency Selective Surface (FSS), the electromagnetic performanceof the antenna is similar in band, but the RCS of the structure is significantly lower out of band. The design of the FSSand the return loss, radiation patterns and RCS are presentedfor an antenna which operates at a center frequency of 4 GHzand the results are compared with a conventional metal backed arrangement