Eine „dienende Rolle“ für den Finanzsektor? Nicht dienen, sondern funktionieren!

The image is undisputed in the political debate that the function of the financial sector is to "play servant" to the real economy, but the consequences derived from this debate are controversial. Clearer is the academic concept to restrict the functions of the financial sector deliberately. But such restriction is hardly convincing from the different persepectives of functionality. Because of this indetermination and, respectively, restriction, a "servant role" is apparently inappropriate as a useful yardstick for reorienting the financial sector. In line with this image, it would certainly be possible to improve crisis prevention, but at the price of cuts in important functions so that a "sevant role" as a concept of crisis prevention would not be desirable either

Robust, tunable, and high purity triggered single photon source at room temperature using a nitrogen-vacancy defect in diamond in an open microcavity

We report progress in the development of tunable room temperature triggered single photon sources based on single nitrogen-vacancy (NV) centres in nanodiamond coupled to open access optical micro-cavities. The feeding of fluorescence from an NV centre into the cavity mode increases the spectral density of the emission and results in an output stream of triggered single photons with spectral line width of order 1 nm, tunable in the range 640 - 700 nm. We record single photon purities exceeding 96% and estimated device efficiencies up to 3%. We compare performance using plano-concave microcavities with radii of curvature from 25 mu m to 4 mu m and show that up to 17% of the total emission is fed into the TEM00 mode. Pulsed Hanbury-Brown Twiss (HBT) interferometry shows that an improvement in single photon purity is facilitated due to the increased spectral density. Published by The Optical Society under the terms of the Creative Commons Attribution 4.0 License

Organomineralization

Encyclopedia of Geobiolog

The transmission of unconventional monetary policy to bank credit supply : evidence from the TLTRO

We assess the transmission of the Targeted Longer-Term Refinancing Operations (TLTRO) to the bank credit supply for the Euro area (2014:05-2018:01) and for Portugal (2011:01-2018:01), using a panel data setup. For the Euro area, we find a positive relationship between the TLTRO and the amount of credit granted to the real economy. For the vulnerable countries, the effects of the TLTRO on the stock of credit increased from 2016 to 2017. Among the group of small banks, the effects are stronger in less vulnerable countries. We also find that competition has no statistically significant impact on the transmission of the TLTRO to the bank credit supply for the Euro area. For Portugal, using a difference-in-differences model, we find no statistically significant impact of the TLTRO on credit granted by banks. Finally, bidding banks set lower interest rates than non-bidding banks and the difference seems to be larger in 2017. In Portugal, the effects of the TLTRO on loan interest rates also increased from 2016 to 2017 and are stronger for small banks.info:eu-repo/semantics/publishedVersio