Phenomenological Implications of the Topflavor Model

We explore phenomenologies of the topflavour model for the LEP experiment at $m_{_Z}$ scale and the atomic parity violation (APV) experiment in the $C_s$ atoms at low energies. Implications of the model on the $Z$ peak data are studied in terms of the precision variables $\epsilon_i$'s. We find that the LEP data give more stringent constraints on the model parameters than the APV data.Comment: 23 pages (including 5 .eps figs), ReVTeX, the 1st revised version, to appear in Phys. Lett.

Emerging Asia: Decoupling or Recoupling

In this paper, we investigate the degree of real economic interdependence between emerging Asia and major industrial countries to shed light on the heated debate over the “decoupling” of emerging Asia. We first document the evolution of macroeconomic interdependence for emerging Asian economies through changing trade and financial linkages at both the regional and global levels. Then, by employing a panel vector autoregression (VAR) model, we estimate the degree of real economic interdependence before and after the 1997/98 Asian financial crisis. Empirical findings show that real economic interdependence increased significantly in the post-crisis period, suggesting “recoupling”, rather than decoupling, in recent years. Output shocks from major industrial countries have a significant positive effect on emerging Asian economies. More interestingly, the reverse is also true. Output shocks from emerging Asia (and the People’s Republic of China [PRC]) have a significant positive effect on output in major industrial countries. The result suggests that macroeconomic interdependence between emerging Asia and industrial countries has become “bi-directional,” defying the traditional notion of the “North–South relationship” as one of “uni-directional" dependence.Regional integration; decoupling; macroeconomic interdependence; trade and financial market linkages; VAR

On Electrical Equivalence of Aperture-Body and Transmission-Cavity Resonance Phenomena in Subwavelength Conducting Aperture Systems from an Equivalent Circuit Point of View

For a narrow slit structure backed by a conducting strip which is taken as a representative example of an aperture-body resonance (ABR) problem, the transmission resonance condition (i.e., condition for maximum power transmission) and the transmission width (i.e., normalized maximum transmitted power through the slit) are found to be the same as those for narrow slit coupling problem in a thick conducting screen, which is designated as a transmission-cavity resonance (TCR) problem. From a viewpoint of equivalent circuit representation for the transmission resonance condition and the funneling mechanism, the ABR and the TCR problems are thought to be essentially of the same nature.Comment: 14 pages, 3 figure

Financial Integration in Emerging Asia: Challenges and Prospects

Using both quantity- and price-based measures of financial integration, this paper shows an increasing degree of financial openness and integration in emerging Asian markets. This paper also assesses the impact of a regional shock relative to a global shock on local equity and bond markets. The findings of this paper suggest that the region’s equity markets are integrated more globally than regionally, although the degrees of both regional and global integration have increased significantly since the 1997/98 Asian financial crisis. However, emerging Asia’s local currency bond markets remain generally segmented, being neither regionally nor globally integrated. A case can be made for the benefits of increased regional integration of financial markets. Financial integration at the regional level allows for the region’s economies to benefit from allocation efficiency and risk diversification. The findings of this paper suggest that policymakers in the region must strike the right balance between maximizing the net benefits from regional and global financial openness, and minimizing the potential costs of financial contagion and crisis.emerging Asia; financial integration; cross-border financial flows; crossborder asset holdings; convergence of asset returns