Proposed satellite position determination systems and techniques for Geostationary Synthetic Aperture Radar

This paper proposes two different calibration techniques for Geostationary Synthetic Aperture Radar (GEOSAR) missions requiring a high precision positioning, based on Active Radar Calibrators and Ground Based Interferometry. The research is enclosed in the preparation studies of a future GEOSAR mission providing continuous monitoring at continental scale.Peer ReviewedPostprint (author's final draft

Understanding Mortgage Spreads

Spreads of agency mortgage-backed securities (MBS) vary significantly in the cross section and over time, but the sources of this variation are not well understood. We document that, in the cross section, MBS spreads adjusted for the prepayment option show a pronounced smile with respect to the MBS coupon. We propose prepayment model risk as a candidate driver of MBS spreads and present a new pricing model that uses "stripped" MBS prices to identify the contribution of this risk to option-adjusted spreads. With this pricing model, we find that prepayment model risk explains the smile, while the variation in the time series is mostly accounted for by a non-prepayment-risk component, which is related to credit risk in fixed-income markets and MBS supply. Finally, we study the MBS market response to the Fed's large-scale asset purchases and show that the model is consistent with spread movements following the initial announc ement and, in particular, the fanning out of option-adjusted spreads across different coupons

Natural Expectations and Macroeconomic Fluctuations

Economic

Natural Expectations, Macroeconomic Dynamics, and Asset Pricing

Economic

Investment Dynamics with Natural Expectations

We study an investment model in which agents have the wrong beliefs about the dynamic properties of fundamentals. Specifically, we assume that agents underestimate the rate of mean reversion. The model exhibits the following six properties: (i) Beliefs are excessively optimistic in good times and excessively pessimistic in bad times. (ii) Asset prices are too volatile. (iii) Excess returns are negatively autocorrelated. (iv) High levels of corporate profits predict negative future excess returns. (v) Real economic activity is excessively volatile; the economy experiences amplified investment cycles. (vi) Corporate profits are positively autocorrelated in the short run and negatively autocorrelated in the medium run. The paper provides an illustrative model of animal spirits, amplified business cycles, and excess volatility.Economic

Tree rings and fire in an Iberian stand of Pinus nigra subsp. salzmannii.

Detección de los efectos del fuego en el crecimiento de Pinus nigra Arnold

Low temperature oxide desorption in GaAs (111)A substrates

The aim of this work is to study oxide removal processes on GaAs (111) A substrates previous to epitaxial growth. We have studied conventional thermal desorption and processes based on the reduction of surface oxides by deposition of gallium, indium and exposure to atomic hydrogen. We have determined substrate temperatures (Ts) for optimum oxide removal in epi-ready substrates by the different studied processes: Ts = 540 °C for thermal desorption, Ts = 505 °C for indium deposition and Ts = 400 °C for oxide desorption by exposure to atomic hydrogen. All these processes allow for a subsequent good quality epitaxial growth. These results cannot be directly extended to oxide removal in grown samples that have been exposed to air outside the growth chamber. In this case, we have found that only indium deposition and exposure to atomic hydrogen are compatible with regrowth processes.We acknowledge financial support from Spanish MINECO (Grant TEC2011-29120-C05-04), and CAM (Grant S2009ESP-1503). Jesús Herranz acknowledges the JAE program for the funds.Peer Reviewe

Size and emission wavelength control of InAs/InP quantum wires

For a certain heteroepitaxial system, the optical properties of self-assembled nanostructures basically depend on their size. In this work, we have studied different ways to modify the height of InAs/InP quantum wires (QWrs) in order to change the photoluminescence emission wavelength. One procedure consists of changing the QWr size by varying the amount of InAs deposited. The other two methods explored rely on the control of As/P exchange process, in one case during growth of InAs on InP for QWr formation and in the other case during growth of InP on InAs for QWr capping. The combination of the three approaches provides a fine tuning of QWr emission wavelength between 1.2 and 1.9 μm at room [email protected]

Role of re-growth interface preparation process for spectral line-width reduction of single InAs site-controlled quantum dots

We present growth and optical characterization measurements of single InAs site-controlled quantum dots (SCQDs) grown by molecular beam epitaxy on GaAs (001) patterned substrates by atomic force microscopy oxidation lithography. InAs SCQDs directly grown on the patterned surface were used as a seed layer and strain template for the nucleation of optically active single InAs SCQDs. The preservation of the initial geometry of the engraved pattern motifs after the re-growth interface preparation process, the lack of buffer layer growth prior to InAs seed layer deposition and the development of suitable growth conditions provide us an improvement of the SCQDs' active layer optical properties while retaining a high ratio of single occupation (89%). In this work a fivefold reduction of the average optical line-width from 870 μeV to 156 μeV for InAs SCQDs located 15 nm from the re-growth interface is obtained by increasing the temperature of the initial thermal treatment step of the re-growth interface from 490 °C to 530 °C.The authors thank financial support by Spanish MINECO through grants ENE2012-37804-C02-02 and TEC2011-29120-C05-04. Jesús Herranz acknowledges the JAE program for the funds.Peer reviewe