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I present novel empirical evidence on the term structure of the equity risk premium. In contrast to previous research that documented high discount rates for the short-term component of the market portfolio, I show evidence for an unconditionally flat term structure of equity risk premia. The tension with previous literature arises largely as a result of differential treatments of heterogeneous investment taxes, manifested in micro evidence on abnormal equity returns on ex-dividend days, and liquidity. The results not only help resolve an important recent \"puzzle\" but provide further important insights on the role of investment taxes in asset pricing.

In the regime of deep strong light–matter coupling, the coupling strength exceeds the transition energies of the material 1 – 3 , fundamentally changing its properties 4 , 5 ; for example, the ground state of the system contains virtual photons and the internal electromagnetic field gets redistributed by photon self-interaction 1 , 6 . So far, no electronic excitation of a material has shown such strong coupling to free-space photons. Here we show that three-dimensional crystals of plasmonic nanoparticles can realize deep strong coupling under ambient conditions, if the particles are ten times larger than the interparticle gaps. The experimental Rabi frequencies (1.9 to 3.3 electronvolts) of face-centred cubic crystals of gold nanoparticles with diameters between 25 and 60 nanometres exceed their plasmon energy by up to 180 per cent. We show that the continuum of photons and plasmons hybridizes into polaritons that violate the rotating-wave approximation. The coupling leads to a breakdown of the Purcell effect—the increase of radiative damping through light–matter coupling—and increases the radiative polariton lifetime. The results indicate that metallic and semiconducting nanoparticles can be used as building blocks for an entire class of materials with extreme light–matter interaction, which will find application in nonlinear optics, the search for cooperative effects and ground states, polariton chemistry and quantum technology 4 , 5 . Photons and plasmons hybridize into polaritons in three-dimensional crystals of plasmonic nanoparticles, leading to deep strong light–matter coupling and the breakdown of the Purcell effect.

The assembly of plasmonic nanoparticles into ordered 2D- and 3D-superlattices could pave the way towards new tailored materials for plasmonic sensing, photocatalysis and manipulation of light on the nanoscale. The properties of such materials strongly depend on their geometry, and accordingly straightforward protocols to obtain precise plasmonic superlattices are highly desirable. Here, we synthesize large areas of crystalline mono-, bi- and multilayers of gold nanoparticles >20 nm with a small number of defects. The superlattices can be described as hexagonal crystals with standard deviations of the lattice parameter below 1%. The periodic arrangement within the superlattices leads to new well-defined collective plasmon-polariton modes. The general level of achieved superlattice quality will be of benefit for a broad range of applications, ranging from fundamental studies of light–matter interaction to optical metamaterials and substrates for surface-enhanced spectroscopies. Superlattices of nanoparticles promise new properties emerging from the periodic order. Here, the authors describe the synthesis of superlattices of plasmonic gold nanoparticles with high crystallinity and demonstrate how new plasmon-polariton modes appear in the structures.

Sunlight-driven H 2 generation is a central technology to tackle our impending carbon-based energy collapse. Colloidal photocatalysts consisting of plasmonic and catalytic nanoparticles are promising for H 2 production at solar irradiances, but their performance is hindered by absorption and multiscattering events. Here we present a two-dimensional bimetallic catalyst by incorporating platinum nanoparticles into a well-defined supercrystal of gold nanoparticles. The bimetallic supercrystal exhibited an H 2 generation rate of 139 mmol g cat − 1 h − 1 via formic acid dehydrogenation under visible light illumination and solar irradiance. This configuration makes it possible to study the interaction between the two metallic materials and the influence of this in catalysis. We observe a correlation between the intensity of the electric field in the hotspots and the boosted catalytic activity of platinum nanoparticles, while identifying a minor role of heat and gold-to-platinum charge transfer in the enhancement. Our results demonstrate the benefits of two-dimensional configurations with optimized architecture for liquid-phase photocatalysis. Plasmonic composites have potential for photocatalytic conversions using solar light; however, complex interactions between light and the components are poorly understood. Here, a highly ordered two-dimensional plasmonic bimetallic AuPt supercrystal demonstrates a high rate of H 2 generation from formic acid while providing insight into the interaction between plasmonic antenna and catalyst.

Carbon nanodots with opposite chirality possess the same major physicochemical properties such as optical features, hydrodynamic diameter, and colloidal stability. Here, a detailed analysis about the comparison of the concentration of both carbon nanodots is carried out, putting a threshold to when differences in biological behavior may be related to chirality and may exclude effects based merely on differences in exposure concentrations due to uncertainties in concentration determination. The present study approaches this comparative analysis evaluating two basic biological phenomena, the protein adsorption and cell internalization. We find how a meticulous concentration error estimation enables the evaluation of the differences in biological effects related to chirality. Chirality is known to impact the biological activity of materials but concentration differences can often lead to errors in analysis. Here, the authors report on detailed concertation analysis of different chiral carbon nanodots to accurately investigate chiral effects on the protein absorption and cell internalisation.

Objective To investigate time use of housework for all members of family households, especially focusing on how time allocation varied by siblings' gender composition. Background Three knowledge gaps were addressed: the allocation of housework time between all family members; children's contributions to housework, focusing on the relevance of sibling structure; and the differences in time allocation of housework by parental education within family households. The study contributes to the understanding of the family as the primary socialization environment and the foundations of gender inequality of unpaid work time in the life course and in society. Methods 478 four‐person households were sampled from the German Time Use Study from 2001/2002 and 2012/2013. Using information from 3,743 time diaries, absolute and relative time use for total housework on Mondays through Fridays was analyzed according to siblings' gender composition, applying linear regression. Results Mothers and daughters spent more time on housework in shared family households than fathers and sons. Total housework time was lowest in households with two sons and highest in households with two daughters. Older daughters spent more time on housework than younger daughters, and sons with a sister spent more time on housework than sons with a brother, regardless of the birth order. Parents' education had no impact on the time allocation in this sample. Conclusion Children's gender plays a role in their interaction with their parents, and both gender identity at the individual level and the dyadic gender compositions of families must be considered when explaining the household allocation of housework.

Background Carbon based fibers are considered to exhibit a carcinogenic potency when inhaled into the deep lung. Mesotheliomas develop after intraperitoneal application of multi-walled carbon nanotubes (MWCNTs) exceeding a diameter of about 37 nm, whereas carcinogenic potency decreases for diameters below this threshold. While large MWCNT diameters are associated with a rigid fiber geometry, this study examined the effects of MWCNTs with smaller diameters ranging from 10 to 30 nm. Also, a sample of single-walled carbon nanotubes (SWCNTs) exhibiting single fiber diameters significantly below 10 nm and showing a flexible geometry was included since individual SWCNT fibers can aggregate to form bundles that exhibit increased rigidity. Additionally, the carcinogenic effect of pitch-based carbon fiber fragments was investigated. Carbon fibers are industrially produced with diameters larger than 4 µm and are thus not per se respirable. However, pitch-based fibers tend to break along their longitudinal axis, resulting in respirable fragments, partially of critical WHO dimensions. Four CNT samples with a geometric mean diameter (GMD) of 30 nm, 20 nm, 10 nm, and smaller than 10 nm, as well as one fragmented carbon fiber sample (GMD 1.3 µm) were intraperitoneally injected into rats in two dosages (0.1 × 10 9 and 1 × 10 9 WHO fibers or WHO-analog nanofibers) and observed for up to 24 months. A long amosite asbestos (GMD 0.37 µm) with known fiber-specific carcinogenic effect served as a positive control (0.1 × 10 9 WHO fibers). Results A small number of mesotheliomas occurred in all fiber types, but not at all dosages. For the carbon fiber material, a possible weak carcinogenic potency is seen at the higher dosage. For the SWCNT fiber, low number of mesotheliomas likewise suggest a weak carcinogenic potency. In the case of the MWCNT fiber with a GMD of 30 nm, very low number of mesotheliomas indicate a possible very weak carcinogenic potency. No clear carcinogenic potency was observed for the MWCNTs with GMDs of 20 nm and 10 nm. Conclusions Carbon fiber fragments and thin but bundled MWCNTs showed weak carcinogenic potency. Non-bundled MWCNTs with a diameter below 30 nm did not show clearcarcinogenic potency at a dose up to 1 × 10 9 WHO-analog nanofibers.

This visualization illustrates patterns of income pooling among German couples using longitudinal data from the German Family Panel (pairfam), examining variations across cohorts born in the 1970s, 1980s, and 1990s and among different partnership types. The findings reveal that marriage is much more strongly associated with income pooling than cohabitation or living-apart-together arrangements. A generational shift is evident: Younger cohorts are less likely to pool finances, even within marriage. The visualization suggests increasing financial independence in intimate relationships over cohorts, reflecting broader societal shifts toward individualism.

The data analysis was based on 41 patient-relative dyads (patients: 39% women, mean age 53.5; relatives: 66% women, mean age 52.16). A significant actor effect from self-efficacy to distress was found for patients (r = -0.47) but not for relatives (r = -0.15). Partner effects from self-efficacy to distress were not significant (r = -0.03, r = -0.001). The actor effect from self-efficacy to anxiety for patients (r = -0.61) as well as relatives was significant (r = -0.62), whereas the partner effect was significant for patients (r = 0.16) but not for relatives (r = -0.46). The results suggest that patients' and relatives' self-efficacy is associated with their distress and anxiety. Partner effects were visible for patients' self-efficacy and relatives' anxiety. These findings suggest that self-efficacy is an important factor for the psychological well-being of patients and relatives and that it may additionally be associated with the partners' well-being. Longitudinal research with larger samples is needed to support the findings.

In addition to enhanced fields and possible charge transfer, the concentration of photothermal energy at the nanoscale is a central feature of plasmon-driven photochemistry. It is well known that light energy can be efficiently concentrated in metal nanoparticles to length scales far below the wavelength of light. Here we demonstrate that the energy absorbed by a gold nanoparticle can be further localized within a bimetallic gold-paladium nanoparticle system by the dissipation of energy into the attached palladium satellite nanoparticles. After pulsed excitation of the gold core, the satellites collect nearly all photothermal energy and heat up by 180 K while the light-absorbing gold core remains much colder. By comparing transient absorption dynamics of a series of bimetallic nanoparticles with a three-temperature model, we can precisely assess the temperatures of the electronic and vibrational subsystems. We find a strong inverted temperature gradient that opposes the direction of energy input and concentrates the light energy at the active catalytic nanosite. When light is absorbed by metal nanoparticles, electromagnetic energy is focused far beyond the diffraction limit. Here, the authors show that this energy can be further localized by the dissipation of energy within a bimetallic antenna-reactor system into attached palladium satellites.