The wayward money supply: a post-mortem of 1982

Money supply

Technology development program for an advanced microsheet glass concentrator

Solar Dynamic Space Power Systems are candidate electrical power generating systems for future NASA missions. One of the key components in a solar dynamic power system is the concentrator which collects the sun's energy and focuses it into a receiver. In 1985, the NASA Lewis Research Center initiated the Advanced Solar Dynamic Concentrator Program with funding from NASA's Office of Aeronautics and Space Technology (OAST). The objectives of the Advanced Concentrator Program is to develop the technology that will lead to lightweight, highly reflective, accurate, scaleable, and long lived (7 to 10 years) space solar dynamic concentrators. The Advanced Concentrator Program encompasses new and innovative concepts, fabrication techniques, materials selection, and simulated space environmental testing. The Advanced Microsheet Glass Concentrator Program, a reflector concept, that is currently being investigated both in-house and under contract is discussed

Monetary policy and short-term real rates of interest

Monetary policy ; Interest rates

The shift in money demand: what really happened?

Demand for money

Evidence on the temporal stability of the demand for money relationship in the United States

Demand for money

State growth empirics: the long-run determinants of state income growth

Real average U.S. per capita personal income growth over the last 65 years exceeded a remarkable 400 percent. Also notable over this period is that the stark income differences across states have narrowed considerably: In 1939 the highest income state’s per capita personal income was 4.5 times the lowest, but by 1976 this ratio had fallen to less than 2 times. Since 1976, the standard deviation of per capita incomes at the state level has actually risen, as some higher-income states have seen their income levels rise relative to the median of the states. A better understanding of the sources of these relative growth performances should help to characterize more effective economic development strategies, if income growth differences are predictable. In this paper, we look for statistically and economically significant growth factors by estimating an augmented growth model using a panel of the 48 contiguous states from 1939 to 2004. Specifically, we control for factors that previous researchers have argued were important: tax burdens, public infrastructure, size of private financial markets, rates of business failure, industry structure, climate, and knowledge stocks. Our results, which are robust to a wide variety of perturbations to the model, are easily summarized: A state’s knowledge stocks (as measured by its stock of patents and its high school and college attainment rates) are the main factors explaining a state’s relative per capita personal income.Economic development ; Income ; Education - Economic aspects

Why the Government Should Not Regulate Internet Telephony?

The Federal Communications Commission has requested comments on the regulation of voice telephone services delivered over the Internet, dubbed "VoIP" or Voice over Internet Protocol. This paper examines whether there is a need to regulate VoIP. We conclude that there is no economic rationale for regulating VoIP and that consumers will likely be worse off if VoIP is regulated. Furthermore, the emergence of new technologies, such as VoIP, is rapidly eroding the rationale for continuing to regulate local telephone services.

Design definition of a mechanical capacitor

A design study and analyses of a 10 kW-hr, 15 kW mechanical capacitor system was studied. It was determined that magnetically supported wheels constructed of advanced composites have the potential for high energy density and high power density. Structural concepts are analyzed that yield the highest energy density of any structural design yet reported. Particular attention was paid to the problem of 'friction' caused by magnetic and I to the second power R losses in the suspension and motor-generator subsystems, and low design friction levels have been achieved. The potentially long shelf life of this system, and the absence of wearing parts, provide superior performance over conventional flywheels supported with mechanical bearings. Costs and economies of energy storage wheels were reviewed briefly

Resonantly enhanced and diminished strong-field gravitational-wave fluxes

The inspiral of a stellar mass ($1 - 100\,M_\odot$) compact body into a massive ($10^5 - 10^7\,M_\odot$) black hole has been a focus of much effort, both for the promise of such systems as astrophysical sources of gravitational waves, and because they are a clean limit of the general relativistic two-body problem. Our understanding of this problem has advanced significantly in recent years, with much progress in modeling the "self force" arising from the small body's interaction with its own spacetime deformation. Recent work has shown that this self interaction is especially interesting when the frequencies associated with the orbit's $\theta$ and $r$ motions are in an integer ratio: $\Omega_\theta/\Omega_r = \beta_\theta/\beta_r$, with $\beta_\theta$ and $\beta_r$ both integers. In this paper, we show that key aspects of the self interaction for such "resonant" orbits can be understood with a relatively simple Teukolsky-equation-based calculation of gravitational-wave fluxes. We show that fluxes from resonant orbits depend on the relative phase of radial and angular motions. The purpose of this paper is to illustrate in simple terms how this phase dependence arises using tools that are good for strong-field orbits, and to present a first study of how strongly the fluxes vary as a function of this phase and other orbital parameters. Future work will use the full dissipative self force to examine resonant and near resonant strong-field effects in greater depth, which will be needed to characterize how a binary evolves through orbital resonances.Comment: 25 pages, 6 figures, 4 tables. Accepted to Phys Rev D; accepted version posted here, including referee feedback and other useful comment