Simple and robust rules for monetary policy

This paper focuses on simple normative rules for monetary policy which central banks can use to guide their interest rate decisions. Such rules were first derived from research on empirical monetary models with rational expectations and sticky prices built in the 1970s and 1980s. During the past two decades substantial progress has been made in establishing that such rules are robust. They perform well with a variety of newer and more rigorous models and policy evaluation methods. Simple rules are also frequently more robust than fully optimal rules. Important progress has also been made in understanding how to adjust simple rules to deal with measurement error and expectations. Moreover, historical experience has shown that simple rules can work well in the real world in that macroeconomic performance has been better when central bank decisions were described by such rules. The recent financial crisis has not changed these conclusions, but it has stimulated important research on how policy rules should deal with asset bubbles and the zero bound on interest rates. Going forward the crisis has drawn attention to the importance of research on international monetary issues and on the implications of discretionary deviations from policy rules.Monetary policy

Non-universal Casimir Effect in Saturated Superfluid 4^4He Films at Tλ_\lambda

Measurements of Casimir effects in $^4$He films in the vicinity of the bulk superfluid transition temperature $T_\lambda$ have been carried out, where changes in the film thickness and the superfluid density are both monitored as a function of temperature. The Kosterlitz-Thouless superfluid onset temperature in the film is found to occur just as the Casimir dip in the film thickness from critical fluctuations becomes evident. Additionally, a new film-thickening effect is observed precisely at $T_\lambda$ when the temperature is swept extremely slowly. We propose that this is a non-universal Casimir effect arising from the viscous suppression of second sound modes in the film.Comment: 5 pages, 6 figures, corrected an equation, small change to fit valu

Black and Asian police officers and support staff: prejudice, identity, agency and social cohesion

This primary research paper presents a review of research that finds that the British Government’s new social cohesion agenda does hold promise for racial and ethnic prejudice reduction – but that social cohesion policies and practice must include at their core policies to reduce institutional racism in British police services. Analysis of the literature reveals that considerably more research is required to examine the precise nature and dynamics of institutional racism within the police services. There is a need to understand how racism against Black and minority ethnic (BME) police employees, and police racism against BME communities, influences social cohesion. That this is important, given the British government’s current social cohesion policy agenda, is patently clear. Considerably more research is about to be undertaken in this area by the authors of this paper and the results will be published in the academic press, disseminated at conferences and presented in training programmes

Low-lying eigenmodes of the Wilson-Dirac operator and correlations with topological objects

The probability density of low-lying eigenvectors of the hermitian Wilson-Dirac operator is examined. Comparisons in position and size between eigenvectors, topological charge and action density are made. We do this for standard Monte-Carlo generated SU(3) background fields and for single instanton background fields. Both hot and cooled SU(3) background fields are considered. An instanton model is fitted to eigenmodes and topological charge density and the sizes and positions of these are compared.Comment: v3: 20 pages, 11 figures, Colour versions of Fig. 1 and Fig. 4 and additional colour figures can be obtained at http://www.physics.adelaide.edu.au/cssm/lattice Revised version contains additional discussions about the topological charge used and greatly improved readability of the plots, Corrected Fig.

Solar system constraints on the Dvali-Gabadadze-Porrati braneworld theory of gravity

A number of proposals have been put forward to account for the observed accelerating expansion of the Universe through modifications of gravity. One specific scenario, Dvali-Gabadadze-Porrati (DGP) gravity, gives rise to a potentially observable anomaly in the solar system: all planets would exhibit a common anomalous precession, dw/dt, in excess of the prediction of General Relativity. We have used the Planetary Ephemeris Program (PEP) along with planetary radar and radio tracking data to set a constraint of |dw/dt| < 0.02 arcseconds per century on the presence of any such common precession. This sensitivity falls short of that needed to detect the estimated universal precession of |dw/dt| = 5e-4 arcseconds per century expected in the DGP scenario. We discuss the fact that ranging data between objects that orbit in a common plane cannot constrain the DGP scenario. It is only through the relative inclinations of the planetary orbital planes that solar system ranging data have sensitivity to the DGP-like effect of universal precession. In addition, we illustrate the importance of performing a numerical evaluation of the sensitivity of the data set and model to any perturbative precession.Comment: 9 pages, 2 figures, accepted for publication in Phys. Rev.

Sociology of low expectations: Recalibration as innovation work in biomedicine

"This article is distributed under the terms of the Creative Commons Attribution 3.0 License (http://www.creativecommons.org/licenses/by/3.0/) which permits any use, reproduction and distribution of the work without further permission provided the original work is attributed as specified on the SAGE and Open Access page (http://www.uk.sagepub.com/aboutus/openaccess.htm). "Social scientists have drawn attention to the role of hype and optimistic visions of the future in providing momentum to biomedical innovation projects by encouraging innovation alliances. In this article, we show how less optimistic, uncertain, and modest visions of the future can also provide innovation projects with momentum. Scholars have highlighted the need for clinicians to carefully manage the expectations of their prospective patients. Using the example of a pioneering clinical team providing deep brain stimulation to children and young people with movement disorders, we show how clinicians confront this requirement by drawing on their professional knowledge and clinical expertise to construct visions of the future with their prospective patients; visions which are personalized, modest, and tainted with uncertainty. We refer to this vision-constructing work as recalibration, and we argue that recalibration enables clinicians to manage the tension between the highly optimistic and hyped visions of the future that surround novel biomedical interventions, and the exigencies of delivering those interventions in a clinical setting. Drawing on work from science and technology studies, we suggest that recalibration enrolls patients in an innovation alliance by creating a shared understanding of how the “effectiveness” of an innovation shall be judged.This project was funded by the Wellcome Trust (Wellcome Trust Biomedical Strategic Award 086034)

Determination of Levels of Regulated and Emerging Trihalomethanes (THMs) Disinfection By-Products (DBPs) in a Community Drinking Water Supply

Ahmadu Bello University (ABU) drinking water treatment plant (ABUDWTP) uses calcium hypochlorite to supply chlorine in disinfecting drinking water supply to the university community. Between 2008 and 2010, 252 water samples were taken in duplicates along the treatment and distribution systems of ABUDWTP with ammonium chloride as de-chlorinating agent in accordance with United States Environmental Protection Agency (USEPA) Method 551.1. This was aimed at determining the concentrations of trihalomethanes (THMs) disinfection by-products (THM-DBPs) and the degree of wholesomeness of the drinking water supplied. The THM concentrations in the samples were analysed using Agilent Gas Chromatograph after preliminary extraction with methyl tert-butyl ether (MTBE). Samples’ analyses identified six THMs - two additional to the regulated four. These are Dichlorobromomethane and 1,2-Dibromomethane here classified as emerging THM disinfection by-products (EmerTHM-DBPs). Measured total mean concentration of the regulated THMs (TRegTHM-DBPs) at house level was 1.0601E-02±1.6625E-05 mg/L as against 9.9704E-02±6.4706E-05 mg/L for total mean emerging THM-DBPs (TEmergTHM-DBPs). This TRegTHMs concentration indicates house level water is within acceptable limits of international standards despite being above the national permissible limit of 0.001 mg/L. Though not considered under exiting drinking water quality index TEmergTHM-DBPs were found to account for over 90% of gross THM-DBPs (GTTHM-DBPs) at each sampling stage. These TEmergTHM-DBPs could create health complications on consumers as they are either suspected carcinogens or recognised to increase the risk of carcinogenicity and mutagenicity in humans. Both are irritants of several body tissues and are implicated in several health abnormalities including reproductive and fertility disorders as well as liver and kidney damage. In view of these likely supplementary health burdens, this paper advocates additional stricter monitoring and control of these emerging THM-DBPs as they will most probably compound and increase the frontline of health challenges from chlorine disinfected ABU drinking water supply to its consumer