346,667 research outputs found
Multi-bank loan pool contracts
EFM classification: 330, 350We show that multi-bank loan pools improve the risk-return profile of banksâ loan business. Banks write simple contracts on the proceeds from pooled loan portfolios, taking into account the free-rider problems in joint loan production. Thus, banks benefit greatly from diversifying credit risk while limiting the efficiency loss due to adverse incentives. We present calibration results that the formation of loan pools reduce the volatility in default rates, proxying for credit risk, of participating banksâ loan portfolios by roughly 70% in our sample. Under reasonable assumptions, the gain in return on equity (in certainty equivalent terms) is around 20 basis points annually
Formality of -objects
We show that a -object and simple configurations of
-objects have a formal derived endomorphism algebra. Hence the
triangulated category (classically) generated by such objects is independent of
the ambient triangulated category. We also observe that the category generated
by the structure sheaf of a smooth projective variety over the complex numbers
only depends on its graded cohomology algebra.Comment: 23 pages, many changes to improve presentation, strengthened results
in Section 5, same content as published versio
On possible Chern Classes of stable Bundles on Calabi-Yau threefolds
Supersymmetric heterotic string models, built from a Calabi-Yau threefold
endowed with a stable vector bundle , usually lead to an anomaly mismatch
between and ; this leads to the question whether the
difference can be realized by a further bundle in the hidden sector. In
math.AG/0604597 a conjecture is stated which gives sufficient conditions on
cohomology classes on to be realized as the Chern classes of a stable
reflexive sheaf ; a weak version of this conjecture predicts the existence
of such a if is of a certain form. In this note we prove that on
elliptically fibered infinitely many cohomology classes exist which are of this form and for each of them a stable SU(n) vector
bundle with exists.Comment: 12 pages latex, minor change
Discrete logarithms in curves over finite fields
A survey on algorithms for computing discrete logarithms in Jacobians of
curves over finite fields
Mean-square stability analysis of approximations of stochastic differential equations in infinite dimensions
The (asymptotic) behaviour of the second moment of solutions to stochastic
differential equations is treated in mean-square stability analysis. This
property is discussed for approximations of infinite-dimensional stochastic
differential equations and necessary and sufficient conditions ensuring
mean-square stability are given. They are applied to typical discretization
schemes such as combinations of spectral Galerkin, finite element,
Euler-Maruyama, Milstein, Crank-Nicolson, and forward and backward Euler
methods. Furthermore, results on the relation to stability properties of
corresponding analytical solutions are provided. Simulations of the stochastic
heat equation illustrate the theory.Comment: 22 pages, 4 figures; deleted a section; shortened the presentation of
results; corrected typo
To Have To Do With The Law: An Essay
This is an experimental text with three voices. The first one is an autoethnographic study of being called on jury service at the Old Bailey, London. The second is a theoretical voice, analysing the theory of the lawscape as I have developed it in my writings, in combination with issues about atmospherics, enclosures, control of bodies and spaces, and temporalities of law. The third voice operates as commentary on the other two and the whole chapter as such, offering an antilogos to the traditional understanding of essay writing, especially for law students but also for academics. This last voice suggests the disruption of the flow of textuality in order for materiality to flood in
Decay, interference, and chaos: How simple atoms mimic disorder
We establish a close quantitative analogy between the excitation and
ionization process of highly excited one electron Rydberg states under
microwave driving and charge transport across disordered 1D lattices. Our
results open a new arena for Anderson localization - a disorder induced effect
- in a large class of perfectly deterministic, decaying atomic systems.Comment: 6 pages, 4 figures (2 in colour), proceedings of The International
Conference on Multiphoton Processes (ICOMP IX), October 2002:
http://www.iesl.forth.gr/icomp9 ;submitted to EP
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