Testing for multicointegration in panel data with common factors

The paper addresses the concept of multicointegration in panel data frame- work. The proposal builds upon the panel data cointegration procedures developed in Pedroni (2004), for which we compute the moments of the parametric statistics. When individuals are either cross-section independent or cross-section dependence can be re- moved by cross-section demeaning, our approach can be applied to the wider framework of mixed I(2) and I(1) stochastic processes analysis. The paper also deals with the issue of cross-section dependence using approximate common factor models. Finite sample performance is investigated through Monte Carlo simulations. Finally, we illustrate the use of the procedure investigating inventories, sales and production relationship for a panel of US industries.

New evidence of the real interest rate parity for OECD countries using panel unit root tests with breaks

This paper tests for real interest parity (RIRP) among the nineteen major OECD countries over the period 1978:Q2-1998:Q4. The econometric methods applied consist of combining the use of several unit root or stationarity tests designed for panels valid under cross-section dependence and presence of multiple structural breaks. Our results strongly support the fulfilment of the weak version of the RIRP for the studied period once dependence and structural breaks are accounted for.

Graduate labor mismatch in Central and Eastern Europe

[cat] Utilitzant l’enquesta REFLEX/HEGESCO, aquest article explora la probabilitat de desajustament entre educació i treball a l’Europa de l’Est i Central. Classifiquem els països en dos grups segons la transparència dels títols educatius al mercat de treball. Polònia, la República Txeca i Eslovènia formen el grup amb més transparència, i Hongria, Lituània i Estònia formen el grup amb més opacitat. Analitzem tres tipus de desajustaments: el vertical (infra‐, sobre‐educació), l’horitzontal (desajustament del camp d’estudi) i el desajust en habilitats. Focalitzem l’anàlisi en l’efecte dels camps d’estudi i les competències dels individus en el desajustament del mercat laboral en aquests països. Els resultats mostren importants diferències entre els dos grups de països estudiats.

Level shifts in a panel data based unit root test : an application to the rate of unemployment

Several unit root tests in panel data have recently been proposed. The test developed by Harris and Tzavalis (1999 JoE) performs particularly well when the time dimension is moderate in relation to the cross-section dimension. However, in common with the traditional tests designed for the unidimensional case, it was found to perform poorly when there is a structural break in the time series under the alternative. Here we derive the asymptotic distribution of the test allowing for a shift in the mean, and assess the small sample performance. We apply this new test to show how the hypothesis of (perfect) hysteresis in Spanish unemployment is rejected in favour of the alternative of the natural unemployment rate, when the possibility of a change in the latter is considered.

Growth, convergence and public investment : a bayesian model averaging approach

The aim of this paper is twofold. First, we study the determinants of economic growth among a wide set of potential variables for the Spanish provinces (NUTS3). Among others, we include various types of private, public and human capital in the group of growth factors. Also,we analyse whether Spanish provinces have converged in economic terms in recent decades. Thesecond objective is to obtain cross-section and panel data parameter estimates that are robustto model speci¯cation. For this purpose, we use a Bayesian Model Averaging (BMA) approach.Bayesian methodology constructs parameter estimates as a weighted average of linear regression estimates for every possible combination of included variables. The weight of each regression estimate is given by the posterior probability of each model.

Measuring effective electroweak couplings in single top production at the CERN LHC

s out to be more relevant than naively expected, is retained. Finally we analyze different aspects of the total cross section relevant to the measurement of new physics through the effective couplings. The above analysis also applies to top antiquark production in a straightforward way.

Proton emission off nuclei induced by kaons in flight

We study the (K-, p) reaction on nuclei with a 1 GeV/c momentum kaon beam, paying special attention to the region of emitted protons having kinetic energy above 600 MeV, which was used to claim a deeply attractive kaon nucleus optical potential. Our model describes the nuclear reaction in the framework of a local density approach and the calculations are performed following two different procedures: one is based on a many-body method using the Lindhard function and the other is based on a Monte Carlo simulation. The simulation method offers flexibility to account for processes other than kaon quasielastic scattering, such as K- absorption by one and two nucleons, producing hyperons, and allows consideration of final-state interactions of the K-, the p, and all other primary and secondary particles on their way out of the nucleus, as well as the weak decay of the produced hyperons into pi N. We find a limited sensitivity of the cross section to the strength of the kaon optical potential. We also show a serious drawback in the experimental setup-the requirement for having, together with the energetic proton, at least one charged particle detected in the decay counter surrounding the target-as we find that the shape of the original cross section is appreciably distorted, to the point of invalidating the claims made in the experimental paper on the strength of the kaon nucleus optical.

η'-nucleus optical potential and possible η' bound states

Starting from a recent model of the η′N interaction, we evaluate the η ′-nucleus optical potential, including the contribution of lowest order in density, tρ/2mη′, together with the second-order terms accounting for η′ absorption by two nucleons. We also calculate the formation cross section of the η′bound states from (π, p) reactions on nuclei. The η′-nucleus potential suffers from uncertainties tied to the poorly known η′N interaction, which can be partially constrained by the experimental modulus of the η′N scattering length and/or the recently measured transparency ratios in η′nuclear photoproduction. Assuming an attractive interaction and taking the claimed experimental value |aη′N|= 0.1 fm, we obtain an η′optical potential in nuclear matter at saturation density of Vη′=−(8.7 + 1.8i) MeV, not attractive enough to produce η′bound states in light nuclei. Larger values of the scattering length give rise to deeper optical potentials, with moderate enough imaginary parts. For a value |aη′N|= 0.3 fm, which can still be considered to lie within the uncertainties of the experimental constraints, the spectra of light and medium nuclei show clear structures associated to η′-nuclear bound states and to threshold enhancements in the unbound region.

Transparency ratio in γ A -> η' A ' and the in-medium η ' width

The photoproduction of η′η′-mesons off different nuclei has been measured with the CBELSA/TAPS detector system for incident photon energies between 15002200 MeV. The transparency ratio has been deduced and compared to theoretical calculations describing the propagation of η′η′-mesons in nuclei. The comparison indicates a width of the η′η′-meson of the order of Γ=1525 MeVΓ=1525 MeV at ρ=ρ0ρ=ρ0 for an average momentum pη′=1050 MeV/cpη′=1050 MeV/c, at which the η′η′-meson is produced in the nuclear rest frame. The inelastic η′Nη′N cross section is estimated to be 310 mb. Parameterizing the photoproduction cross section of η′η′-mesons by σ(A)=σ0Aασ(A)=σ0Aα, a value of α=0.84±0.03α=0.84±0.03 has been deduced.

Proposed gravitational wave observatory based on solid elastic spheres

Spherical gravitational wave (GW) detectors offer a wealth of so far unexplored possibilities to detect gravitational radiation. We find that a sphere can be used as a powerful testbed for any metric theory of gravity, not only general relativity as considered so far, by making use of a deconvolution procedure for all the electric components of the Riemann tensor. We also find that the spheres cross section is large at two frequencies, and advantageous at higher frequencies in the sense that a single antenna constitutes a real xylophone in its own. Proposed GW networks will greatly benefit from this. The main features of a two large sphere observatory are reported.

Hollow sphere as a detector of gravitational radiation

The most important features of the proposed spherical gravitational wave detectors are closely linked with their symmetry. Hollow spheres share this property with solid ones, considered in the literature so far, and constitute an interesting alternative for the realization of an omnidirectional gravitational wave detector. In this paper we address the problem of how a hollow elastic sphere interacts with an incoming gravitational wave and find an analytical solution for its normal mode spectrum and response, as well as for its energy absorption cross sections. It appears that this shape can be designed having relatively low resonance frequencies (~ 200 Hz) yet keeping a large cross section, so its frequency range overlaps with the projected large interferometers. We also apply the obtained results to discuss the performance of a hollow sphere as a detector for a variety of gravitational wave signals.

Cosmic rays as probes of large extra dimensions and TeV gravity

If there are large extra dimensions and the fundamental Planck scale is at the TeV scale, then the question arises of whether ultrahigh energy cosmic rays might probe them. We study the neutrino-nucleon cross section in these models. The elastic forward scattering is analyzed in some detail, hoping to clarify earlier discussions. We also estimate the black hole production rate. We study energy loss from graviton mediated interactions and conclude that they cannot explain the cosmic ray events above the GZK energy limit. However, these interactions could start horizontal air showers with characteristic profile and at a rate higher than in the standard model.

Supersymmetric black rings and three-charge supertubes

We present supergravity solutions for 1/8-supersymmetric black supertubes with three charges and three dipoles. Their reduction to five dimensions yields supersymmetric black rings with regular horizons and two independent angular momenta. The general solution contains seven independent parameters and provides the first example of nonuniqueness of supersymmetric black holes. In ten dimensions, the solutions can be realized as D1-D5-P black supertubes. We also present a worldvolume construction of a supertube that exhibits three dipoles explicitly. This description allows an arbitrary cross section but captures only one of the angular momenta.

Scattering of quantum particles by gravitational plane waves

We consider the coupling of quantum massless and massive scalar particles with exact gravitational plane waves. The cross section for scattering of the quantum particles by the waves is shown to coincide with the classical cross section for scattering of geodesics. The expectation value of the scalar field stress tensor between scattering states diverges at the points where classical test particles focus after colliding with the wave. This indicates that back-reaction effects cannot be ignored for plane waves propagating in the presence of quantum particles and that classical singularities are likely to develop.

Effective squark/chargino/neutralino couplings: MadGraph implementation

We have included the effective description of squark interactions with charginos/neutralinos in the MadGraph MSSM model. This effective description includes the effective Yukawa couplings, and another logarithmic term which encodes the supersymmetry-breaking. We have performed an extensive test of our implementation analyzing the results of the partial decay widths of squarks into charginos and neutralinos obtained by using FeynArts/FormCalc programs and the new model file in MadGraph. We present results for the cross-section of top-squark production decaying into charginos and neutralinos.