How have global shocks impacted the real effective exchange rates of individual euro area countries since the euro's creation?

This paper uncovers the response pattern to global shocks of euro area countries' real effective exchange rates before and after the start of Economic and Monetary Union (EMU), a largely open ended question when the euro was created. We apply to that end a newly developed methodology based on high dimensional VAR theory. This approach features a dominant unit to a large set of over 60 countries' real effective exchange rates and is based on the comparison of two estimated systems: one before and one after EMU. We find strong evidence that the pattern of responses depends crucially on the nature of global shocks. In particular, post-EMU responses to global US dollar shocks have become similar to Germany's response before EMU, i.e. to that of the economy that used to issue Europe's most credible legacy currency. By contrast, post-EMU responses of euro area countries to global risk aversion shocks have become similar to those of Italy, Portugal or Spain before EMU, i.e. of economies of the euro area's periphery. Our findings also suggest that the divergence in external competitiveness among euro area countries over the last decade, which is at the core of today's debate on the future of the euro area, is more likely due to country-specific shocks than to global shocks.Euro, Real Effective Exchange Rates, Weak and Strong Cross Sectional Dependence, High-Dimensional VAR, Identification of Shocks.

A Tight-Binding Investigation of the NaxCoO2 Fermi Surface

We perform an orthogonal basis tight binding fit to an LAPW calculation of paramagnetic Na$_x$CoO$_2$ for several dopings. The optimal position of the apical oxygen at each doping is resolved, revealing a non-trivial dependence of the band structure and Fermi surface on oxygen height. We find that the small e$_{g'}$ hole pockets are preserved throughout all investigated dopings and discuss some possible reasons for the lack of experimental evidence for these Fermi sheets

Tight-binding Hamiltonian for LaOFeAs

First-principles electronic structure calculations have been very useful in understanding some of the properties of the new iron-based superconductors. Further explorations of the role of the individual atomic orbitals in explaining various aspects of research in these materials, including experimental work, would benefit from the availability of a tight-binding(TB) Hamiltonian that reproduces accurately the first-principles band structure results. In this work we have used the NRL-TB method to construct a TB Hamiltonian from Linearized Augmented Plane Wave(LAPW) results. Our TB model includes the Fe d-orbitals, and the p-orbitals from both As and O for the prototype material LaOFeAs. The resulting TB band structure agrees well with that of the LAPW calculations in from 2.7 eV below to 0.8 eV above the Fermi level, epsilon_F, and the Fermi surface matches perfectly to that of the LAPW. The TB densities of states(DOS) are also in very good agreement with those from the LAPW in the above energy range, including the per orbital decomposition. We use our results to provide insights on the existence of a pseudogap in the DOS just above the Fermi level. We have also performed a separate TB fit to a database of LAPW results as a function of volume and with variations of the As positions. This fit although less accurate regarding the band structure near epsilon_F, reproduces the LAPW total energies very well and has transferability to non-fitted energies.Comment: 6 pages, 7 figure

Tight-binding study of structure and vibrations of amorphous silicon

We present a tight-binding calculation that, for the first time, accurately describes the structural, vibrational and elastic properties of amorphous silicon. We compute the interatomic force constants and find an unphysical feature of the Stillinger-Weber empirical potential that correlates with a much noted error in the radial distribution function associated with that potential. We also find that the intrinsic first peak of the radial distribution function is asymmetric, contrary to usual assumptions made in the analysis of diffraction data. We use our results for the normal mode frequencies and polarization vectors to obtain the zero-point broadening effect on the radial distribution function, enabling us to directly compare theory and a high resolution x-ray diffraction experiment

Late Glacial–Holocene climatic transition record at the Argentinian Andean piedmont between 33 and 34° S

The Arroyo La Estacada (~ 33°28' S, 69°02' W), eastern Andean piedmont of Argentina, cuts through an extensive piedmont aggradational unit composed of a dominant Late Pleistocene–early Holocene (LP–EH) alluvial sequence that includes several paleosols. <br><br> One of these paleosols developed affecting the topmost part of likely Late Glacial aeolian deposits aggraded into a floodplain environment by the end of the Late Pleistocene. The paleosol shows variable grade of development along the arroyo outcrops. Organic matter humification, carbonate accumulation and redox processes were the dominant processes associated with paleosol formation. By the early Holocene, when the formation of the paleosol ended, renewed alluvial aggradation and high magnitude flooding events affected the arroyo's floodplain environment. Accordignly, a period of relative landscape stability in the Arroyo La Estacada basin is inferred from the paleosol developed by the LP–EH transition in response to the climatic conditions in the Andes cordillera piedmont after the Late Glacial arid conditions. The analyzed Late Glacial–Holocene alluvial record of the Andean piedmont constitutes a suitable record of the LP–EH climatic transition in the extra-Andean region of Argentina. It is in agreement with regional paleoclimatic evidence along the southern tip of the South American continent, where other pedosedimentary sequences record similar late Quaternary paleoenvironmental changes over both fluvial and interfluvial areas

Origin of Superconductivity in Boron-doped Diamond

Superconductivity of boron-doped diamond, reported recently at T_c=4 K, is investigated exploiting its electronic and vibrational analogies to MgB2. The deformation potential of the hole states arising from the C-C bond stretch mode is 60% larger than the corresponding quantity in MgB2 that drives its high Tc, leading to very large electron-phonon matrix elements. The calculated coupling strength \lambda ~ 0.5 leads to T_c in the 5-10 K range and makes phonon coupling the likely mechanism. Higher doping should increase T_c somewhat, but effects of three dimensionality primarily on the density of states keep doped diamond from having a T_c closer to that of MgB2.Comment: Four pages with two embedded figures, corrected fig1. (To appear in Physical Review Letters(2004)

NMR study of a bimesogenic liquid crystal with two nematic phases

Recent interest in bimesogenic liquid crystals showing two nematic phases has led us to investigate the nematic mean-field interactions in these nematic phases by using rigid solutes as probes. The nematic potential that is modelled by two independent Maier-Saupe terms is successful in fitting the observed dipolar couplings (order parameters) of para-, meta- and ortho-dichlorobenzene solutes in both the nematic phases of 39 wt% of 4-n-pentyl-4′-cyanobiphenyl (5CB) in α,ω-bis(4-4′-cyanobiphenyl)nonane (CB_C9_CB) to better than the 5% level. The derived liquid-crystal potential parameters G₁ and G₂ for each solute in the N and Ntb phases will be discussed. The most interesting observation is that G1 (associated with size and shape interactions) is almost constant in the Ntb phase, whereas G₂ (associated with longer-range electrostatic interactions) has large variation, even changing sign