University of Notre Dame

About: University of Notre Dame is a education organization based out in Notre Dame, Indiana, United States. It is known for research contribution in the topics: Population & Large Hadron Collider. The organization has 22238 authors who have published 55201 publications receiving 2032925 citations. The organization is also known as: University of Notre Dame du Lac & University of Notre Dame, South Bend.

Uncertainty and Economic Activity: Evidence from Business Survey Data

Abstract: What is the impact of time-varying business uncertainty on economic activity? Using partly confidential business survey data from the U.S. and Germany in structural VARs, we find that positive innovations to business uncertainty lead to prolonged declines in economic activity. In contrast, their high-frequency impact is small. We find no evidence of the "wait-and-see"-effect - large declines of economic activity on impact and subsequent fast rebounds - that the recent literature associates with positive uncertainty shocks. Rather, positive innovations to business uncertainty have effects similar to negative business confidence innovations. Once we control for their low-frequency effect, we find little statistically or economically significant impact of uncertainty innovations on activity. We argue that high uncertainty events are a mere epiphenomenon of bad economic times: recessions breed uncertainty.

The Sum of All FEARS: Investor Sentiment and Asset Prices

Abstract: We use the daily internet search volume from millions of households to reveal market-level sentiment. By aggregating the volume of queries related to household concerns (e.g. "recession", "unemployment" and "bankruptcy"), we construct a Financial and Economic Attitudes Revealed by Search (FEARS) index as a new measure of investor sentiment. Between 2004 and 2011, we find increases in FEARS lead to return reversals: although high FEARS are associated with low returns today, they predict high returns over the following two days. In the cross-section of stocks, the reversal effect is strongest among stocks which are attractive to noise traders and hard to arbitrage. FEARS also coincide with excess volatility and predict daily mutual fund flow. When FEARS increase, investors are more likely to pull money out of equity mutual funds and put it into bond funds. Taken together, the results are broadly consistent with theories of investor sentiment.

Photosensitization of TiO2 Nanostructures with CdS Quantum Dots: Particulate versus Tubular Support Architectures

Abstract: TiO2 nanotube arrays and particulate films are modified with CdS quantum dots with an aim to tune the response of the photoelectrochemical cell in the visible region. The method of successive ionic layer adsorption and reaction facilitates size control of CdS quantum dots. These CdS nanocrystals, upon excitation with visible light, inject electrons into the TiO2 nanotubes and particles and thus enable their use as photosensitive electrodes. Maximum incident photon to charge carrier efficiency (IPCE) values of 55% and 26% are observed for CdS sensitized TiO2 nanotube and nanoparticulate architectures respectively. The nearly doubling of IPCE observed with the TiO2 nanotube architecture is attributed to the increased efficiency of charge separation and transport of electrons.

A Weighted and Directed Interareal Connectivity Matrix for Macaque Cerebral Cortex

Abstract: Retrograde tracer injections in 29 of the 91 areas of the macaque cerebral cortex revealed 1,615 interareal pathways, a third of which have not previously been reported. A weight index (extrinsic fraction of labeled neurons [FLNe]) was determined for each area-to-area pathway. Newly found projections were weaker on average compared with the known projections; nevertheless, the 2 sets of pathways had extensively overlapping weight distributions. Repeat injections across individuals revealed modest FLNe variability given the range of FLNe values (standard deviation <1 log unit, range 5 log units). The connectivity profile for each area conformed to a lognormal distribution, where a majority of projections are moderate or weak in strength. In the G29 × 29 interareal subgraph, two-thirds of the connections that can exist do exist. Analysis of the smallest set of areas that collects links from all 91 nodes of the G29 × 91 subgraph (dominating set analysis) confirms the dense (66%) structure of the cortical matrix. The G29 × 29 subgraph suggests an unexpectedly high incidence of unidirectional links. The directed and weighted G29 × 91 connectivity matrix for the macaque will be valuable for comparison with connectivity analyses in other species, including humans. It will also inform future modeling studies that explore the regularities of cortical networks.