Toward a theory of international currency : a step further

We generalize the two-country, two-currency model of Matsuyama, Kiyotaki and Matsui to resolve two "shortcomings" in their approach. First, we endogenize prices and excb.ange rates. Second, we introduce monetary policy. We then use the model to address the following new questions: How does the fact that a currency circulates intemationally affect its purcb.asing power? Where does an intemational currency purcb.ase more? What are the effects on seignorage and welfare when a currency becomes intemational? How is policy affected by concems of currency substitution? How are national monetary policies connected, and what is the scope for international cooperation?

A Theory of voter experimentation in repeated elections

Nesse artigo, eu desenvolvo e analiso um modelo de dois perí odos em que dois polí ticos competem pela preferência de um eleitor representativo, que sabe quão benevolente é um dos polí ticos mas é imperfeitamente informado sobre quão benevolente é o segundo polí tico. O polí tico conhecido é interpretado como um incumbente de longo prazo, ao passo que o polí tico desconhecido é interpretado como um desa fiante menos conhecido. É estabelecido que o mecanismo de provisão de incentivos inerente às elei cões - que surge através da possibilidade de não reeleger um incumbente - e considerações acerca de aquisi cão de informa cão por parte do eleitor se combinam de modo a determinar que em qualquer equilí brio desse jogo o eleitor escolhe o polí tico desconhecido no per íodo inicial do modelo - uma a cão à qual me refi ro como experimenta cão -, fornecendo assim uma racionaliza cão para a não reelei cão de incumbentes longevos. Especifi camente, eu mostro que a decisão do eleitor quanto a quem eleger no per odo inicial se reduz à compara cão entre os benefí cios informacionais de escolher o polí tico desconhecido e as perdas econômicas de fazê-lo. Os primeiros, que capturam as considera cões relacionadas à aquisi cão de informa cão, são mostrados serem sempre positivos, ao passo que as últimas, que capturam o incentivo à boa performance, são sempre não-negativas, implicando que é sempre ótimo para o eleitor escolher o polí tico desconhecido no per íodo inicial.

The spenders-hoarders theory of capital accumulations, wealth distribution and fiscal policy

This paper proposes a simple OLG model which is consistent with the essential facts about consumer behavior, capital accumulation and wealth distribution, and yields some new and surprising conclusions about fiscal policy. By considering a society in which individuais are distinguished according to two characteristics, altruism and wealth preference, we show that those who in the long run hold the bulk of private capital are not so rnuch motivated by dynastic altruism as by preference for wealth. Two types of social segmentation can result with different wcalth distribution. To a large extcnt our results seem to fit reality better than those obtained with standard optimal growth models in which dynastic altruism ( or r ate o f impatience) is the only source of heterogeneity: overaccumulation can appear, public debt and unfunded pensions are not neutra!, estate taxation can improve the welfare of the top wealthy.

Abundance of sedentary consumers and sessile organisms along the wave exposure gradient of subtropical rocky shores of the south-west Atlantic

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

On the algebraic K theory of the massive D8 and M9-branes

In this paper we review some basic relations of algebraic K theory and we formulate them in the language of D-branes. Then we study the relation between the D8-branes wrapped on an orientable, compact manifold W in a massive Type IIA, supergravity background and the M9-branes wrapped on a compact manifold Z in a massive d = 11 supergravity background from the K-theoretic point of view. By interpreting the D8-brane charges as elements of K-0(C(W)) and the (inequivalent classes of) spaces of gauge fields on the M9-branes as the elements of K-0(C(Z) x ((k) over bar*) G) where G is a one-dimensional compact group, a connection between charges and gauge fields is argued to exists. This connection could be realized as a composition map between the corresponding algebraic K theory groups.

Higher-derivative theory of (2+1)-dimensional gravity

Higher-derivative gravity in 2 + 1 dimensions is considered. The general solution of the linearized field equations in a three-dimensional version of the Teyssandier gauge is obtained, and from that the solution for a static pointlike source is found. The deflection of light rays is also analysed. (C) 2001 Elsevier B.V. B.V. All rights reserved.

Conformal field theory of AdS background with Ramond-Ramond flux

We review a formalism of superstring quantization with manifest six-dimensional spacetime supersymmetry, and apply it to AdS(3) x S-3 backgrounds with Ramond-Ramond flux. The resulting description is a conformal field theory based on a sigma model whose target space is a certain supergroup SU' (2\2).

Theory of optical dispersive shock waves in photorefractive media

The theory of optical dispersive shocks generated in the propagation of light beams through photorefractive media is developed. A full one-dimensional analytical theory based on the Whitham modulation approach is given for the simplest case of a sharp steplike initial discontinuity in a beam with one-dimensional striplike geometry. This approach is confirmed by numerical simulations, which are extended also to beams with cylindrical symmetry. The theory explains recent experiments where such dispersive shock waves have been observed.

THEORY OF ELECTRICAL CHARACTERISTICS OF A SCHOTTKY-BARRIER HAVING EXPONENTIALLY DISTRIBUTED IMPURITY STATES AND METAL-INSULATOR METAL STRUCTURES

The metal-insulator or metal-amorphous semiconductor blocking contact is still not well understood. Here, we discuss the steady state characteristics of a non-intimate metal-insulator Schottky barrier. We consider an exponential distribution (in energy) of impurity states in addition to impurity states at a single energy level within the depletion region. We present analytical expressions for the electrical potential, field, thickness of depletion region, capacitance, and charge accumulated in the depletion region. We also discuss ln I versus V(ap) data. Finally, we compare the characteristics in three cases: (i) impurity states at only a single energy level; (ii) uniform energy distribution of impurity states; and (iii) exponential energy distribution of impurity states.In general, the electrical characteristics of Schottky barriers and metal-insulator-metal structures with Schottky barriers depend strongly on the energy distribution of impurity states.

THEORY OF NON-STEADY-STATE ELECTRICAL CHARACTERISTICS OF METAL-INSULATOR-METAL STRUCTURES WITH SCHOTTKY BARRIERS AND UNIFORMLY DISTRIBUTED INTERFACE IMPURITY STATES

The metal-insulator (or amorphous semiconductor) blocking contact is still not well understood. In the present paper, we discuss the non steady state characteristics of Metal-lnsulator-Metal Structure with non-intimate blocking contacts (i.e. Metal-Oxide-Insulator-Metal Structure). We consider a uniform distribution (in energy) of impurity states in addition to impurity states at a single energy level within the depletion region. We discuss thermal as well as isothermal characteristics and present expressions for the temperature of maximum current (T-m) and a method to calculate the density of uniformly distributed impurity states. The variation of mobility with electrical field has also been considered. Finally we plot the theoretical curves under different conditions. The present results are closing into available experimental results.

Conjectures and theorems in the theory of entire functions

Motivated by the recent solution of Karlin's conjecture, properties of functions in the Laguerre-Polya class are investigated. The main result of this paper establishes new moment inequalities fur a class of entire functions represented by Fourier transforms. The paper concludes with several conjectures and open problems involving the Laguerre-Polya class and the Riemann xi -function.

Theory of electrical characteristics for metal-oxide-insulator Schottky barrier and metal-insulator-metal structures

The metal-insulator or metal-amorphous semiconductor blocking contact is still not well understood. Here, the intimate metal-insulator and metal-oxide-insulator contact are discussed. Further, the steady-state characteristics of metal-oxide-insulator-metal structures are also discussed. Oxide is an insulator with wider energy band gap (about 50 Å thick). A uniform energetic distribution of impurities is considered in addition to impurities at a single energy level inside the surface charge region at the oxide-insulator interface. Analytical expressions are presented for electrical potential, field, thickness of the depletion region, capacitance, and charge accumulated in the surface charge region. The electrical characteristics are compared with reference to relative densities of two types of impurities. ln I is proportional to the square root of applied potential if energetically distributed impurities are relatively important. However, distribution of the electrical potential is quite complicated. In general energetically distributed impurities can considerably change the electrical characteristics of these structures.

The theory of vibronic transitions in rare earth compounds

The theory of vibronic transitions in rare earth compounds is re-examined in the light of a more reliable representation for the ligand field Hamiltonian than the crude electrostatic model. General expressions that take into account the relevant contributions from the forced electric dipole and dynamic coupling mechanisms are derived for the vibronic intensity parameters. These include additional terms, from charge and polarizability gradients, which have not been considered in previous work. Emphasis is given to the relative signs of these various contributions. Under certain approximations these expressions may be conveniently written in terms of accessible ligand field parameters. A comparison with experimental values for the compounds Cs2NaEuCl6 and LiEuF4 is made and satisfactory agreement between theory and experiment is found. A discussion is given on the sensitivity of the calculated intensities to the values of radial integrals, interconfigurational energy differences and ligand field parameters that may be used. Finally, the problem in which a vibronic and an electronic level are in resonance, or near resonance, is analyzed. Suitable expressions to describe the effects of the even-rank components of the vibronic Hamiltonian are obtained. It is found that, depending on the strength of the vibronic interaction and the resonance conditions, the admixture between these two levels may lead to intensities of nearly equal values. © 1995.

Theory of non-steady state electrical characteristics of metal-insulator-metal structures with schottky barriers and exponentially distributed impurity states

We discuss non-steady state electrical characteristics of a metal-insulator-metal structure. We consider an exponential distribution (in energy) of impurity states in addition to impurity states at a single energy level within the depletion region. We discuss thermal as well as isothermal characteristics and present an expression for the temperature of maximum current (Tm) and a method to calculate the density of exponentially distributed impurity states. We plot the theoretical curves for various sets of parameters and the variation of Tm, and Im (maximum current) with applied potential for various impurity distributions. The present model can explain the available experimental results. Finally we compare the non-steady state characteristics in three cases: (i) impurity states only at a single energy level, (ii) uniform energetic distribution of impurity states, and (iii) exponential energetic distribution of impurity states.