Money and Endogenous Growth in a Cash-in-Advance Model with Social Status

Motivated by the substantial increase of nominal money supply in the U.S. economy since late 2008, this paper examines the equilibrium growth effect of money/inflation within a standard one-sector AK model of endogenous growth with wealth-enhanced preferences for social status and the most generalized cash-in-advance constraint. We show that the sign for the correlation between money and output growth depends crucially on (i) the liquidity-constrained ratio of consumption to investment, and (ii) how the shadow price of physical capital responds to a change in the monetary growth rate. This money-growth correlation, as well as the growth effect of social status, turns out to be closely related to the local stability properties of the economy's balanced growth path(s).Money, Endogenous Growth, Cash-in-Advance Constraint, Social Status, In- determinacy

Directed diffraction without negative refraction

Using the FDTD method, we investigate the electromagnetic propagation in two-dimensional photonic crystals, formed by parallel air cylinders in a dielectric medium. The corresponding frequency band structure is computed using the standard plane-wave expansion method. It is shown that within partial bandgaps, waves tend to bend away from the forbidden directions. This phenomenon perhaps need not be explained in terms of negative refraction or `superlensing' behavior, contrast to what has been conjectured.Comment: 3 pages, 4 figure

Controlled Heterogeneous Nucleation and Growth of Germanium Quantum Dots on Nanopatterned Silicon Dioxide and Silicon Nitride Substrates

Controlled heterogeneous nucleation and growth of Ge quantum dots (QDs) are demonstrated on SiO_2/Si_3N_4 substrates by means of a novel fabrication process of thermally oxidizing nanopatterned SiGe layers. The otherwise random self-assembly process for QDs is shown to be strongly influenced by the nanopatterning in determining both the location and size of the QDs. Ostwald ripening processes are observed under further annealing at the oxidation temperature. Both nanopattern oxidation and Ostwald ripening offer additional mechanisms for lithography for controlling the size and placement of the QDs

A Comparative Study on Spin-Orbit Torque Efficiencies from W/ferromagnetic and W/ferrimagnetic Heterostructures

It has been shown that W in its resistive form possesses the largest spin-Hall ratio among all heavy transition metals, which makes it a good candidate for generating efficient dampinglike spin-orbit torque (DL-SOT) acting upon adjacent ferromagnetic or ferrimagnetic (FM) layer. Here we provide a systematic study on the spin transport properties of W/FM magnetic heterostructures with the FM layer being ferromagnetic Co$_{20}$Fe$_{60}$B$_{20}$ or ferrimagnetic Co$_{63}$Tb$_{37}$ with perpendicular magnetic anisotropy. The DL-SOT efficiency $|\xi_{DL}|$, which is characterized by a current-induced hysteresis loop shift method, is found to be correlated to the microstructure of W buffer layer in both W/Co$_{20}$Fe$_{60}$B$_{20}$ and W/Co$_{63}$Tb$_{37}$ systems. Maximum values of $|\xi_{DL}|\approx 0.144$ and $|\xi_{DL}|\approx 0.116$ are achieved when the W layer is partially amorphous in the W/Co$_{20}$Fe$_{60}$B$_{20}$ and W/Co$_{63}$Tb$_{37}$ heterostructures, respectively. Our results suggest that the spin Hall effect from resistive phase of W can be utilized to effectively control both ferromagnetic and ferrimagnetic layers through a DL-SOT mechanism