Semi-Parametric Weak Instrument Regressions with an Application to the Risk-Return Trade-off

Recent work shows that a low correlation between the instruments and the included variables leads to serious inference problems. We extend the local-to-zero analysis of models with weak instruments to models with estimated instruments and regressors and with higher-order dependence between instruments and disturbances. This makes this framework applicable to linear models with expectation variables that are estimated non-parametrically. Two examples of such models are the risk-return trade-off in finance and the impact of inflation uncertainty on real economic activity. Results show that inference based on Lagrange Multiplier (LM) tests is more robust to weak instruments than Wald-based inference. Using LM confidence intervals leads us to conclude that no statistically significant risk premium is present in returns on the S&P 500 index, excess holding yields between 6-month and 3-month Treasury bills, or in yen-dollar spot returns.

A Semi-Parametric Factor Model for Interest Rates.

Understanding the dynamics of interest rates and the term structure has important implications for issues as diverse as real economic activity, monetary policy, pricing of interest rate derivative securities and public debt financing. Our paper follows a longstanding tradition of using factor models of interest rates but proposes a semi-parametric procedure to model interest rates.

Parametric and Nonparametric Approaches to Price and Tax Reform.

In the analysis of tax reform, when equity is traded off against efficiency, the measurement of the latter requires us to know how tax-induced price changes affect quantities supplied and demanded. in this paper, we present various econometric procedures for estimating how taxes affect demand.

Compact amplifier integrated microstrip antenna

compact microstrip antenna integrated with an amplifier having an area reduction of 70%, compared to the standard circular microstrip patch antenna, is presented. The antenna also provides an enhanced gain of 10-dB more than its passive counter part. The measured 2:1 VSWR band width is -4% at 790 MHz, which is 2.5 times larger than that of the passive microstrip antenna

Z-scan and Degenerate Four Wave Mixing Studies in Certain Photonic Materials

International School of Photonics, Cochin University of Science & Technology

Degenerate four wave mixing in some metal phthalocyanines and naphthalocyanines

Here we report measurements of third-order susceptibility χ(3), figure of merit F defined as χ(3)/α (where α is the absorption coefficient) and second hyperpolarizability 〈γ〉 of some metal substituted phthalocyanines and a naphthalocyanine in solutions of dimethyl formamide using degenerate four wave mixing at 532 nm under nanosecond excitation. It was found that among samples investigated, bis-naphthalocyanine possessed the highest value of 〈γ〉 followed by the bis-phthalocyanine. This observation is explained on the basis that bis-naphthalocyanine followed by bis-phthalocyanine has higher degree of π electron conjugation.

Thermal lens spectrum of organic dyes using optical parametric oscillator

The wavelength dependence of thermal lens signal from organic dyes are studied using dual beam thermal lens technique. It is found that the profile of thermal lens spectrum widely differ from the conventional absorption spectrum in the case of rhodamine B unlike in the case of crystal violet. This is explained on the basis of varying contribution of nonradiative relaxations from the excited vibronic levels.

Fabrication and characterization of dye-doped polymer optical fiber as a light amplifier

The fabrication and characterization of a Rhodamine 6G-doped polymer optical fiber amplifier have been carried out. Two different schemes were employed to characterize the optical fiber: the stripe illumination technique to study the fiber as a gain medium and another technique to study its performance as an amplifier. We observed a spectral narrowing from 42 to 7 nm when the pump energy was increased to 6 mJ in the stripe illumination geometry. A gain of 18 dB was obtained in the amplifier configuration. The effects of pump power and dye concentration on the performance of the fiber as an amplifier were also studied.

Third order nonlinear optical studies in europium naphthalocyanine using degenerate four wave mixing and Z-scan

Third order nonlinear susceptibility χ(3) and second hyperpolarizability (γ) of a bis-naphthalocyanine viz. europium naphthalocyanines, Eu(Nc)2, were measured in dimethyl formamide solution using degenerate four wave mixing at 532 nm under nanosecond pulse excitation. Effective nonlinear absorption coefficient, βeff and imaginary part of nonlinear susceptibility, Im(χ(3)) were obtained using open aperture /Z-scan technique at the same wavelength. Optical limiting property of the sample was also investigated. The role of excited state absorption in deciding the nonlinear properties of this material is discussed.

Thermal lens spectrum of organic dyes using optical parametric oscillator

The wavelength dependence of thermal lens signal from organic dyes are studied using dual beam thermal lens technique. It is found that the profile of thermal lens spectrum widely differ from the conventional absorption spectrum in the case of rhodamine B unlike in the case of crystal violet. This is explained on the basis of varying contribution of nonradiative relaxations from the excited vibronic levels.