Determinants of The Application of Macro Prudential Instruments

The use of macro prudential instruments today gives rise to a major debate within the walls of central banks and other authorities in charge of financial stability. Contrary to micro prudential instruments, whose effects remain limited, macro prudential instruments are different in nature and can affect the stability of the financial system. By influencing the financial cycle and the financial structure of financial institutions, the use of such instruments should be conducted with great vigilance as well as macroeconomic and financial expertise. But the experiences of central banks in this area are sketchy, and only some emerging countries have experience using these types of instruments in different ways. This paper presents an analysis of instruments of macro prudential policy and attempts to empirically demonstrate that these instruments should be used only in specific economic and financial situations. Indeed, the results obtained, using modeling bivariate panel, confirm that these instruments are more effective when used to mitigate the euphoria of financial and economic cycles. In this sense, the output gap, describing the economic cycle, and the Z-score are the intermediate variables for the activation of capital instruments. Moreover, the liquidity ratio and changes in bank profitability are the two early warning indicators for activation of liquidity instruments

iTETRIS: An Integrated Wireless and Traffic Platform for Real-Time Road Traffic Management Solutions

Wireless vehicular cooperative systems have been identified as an attractive solution to improve road traffic management, thereby contributing to the European goal of safer, cleaner, and more efficient and sustainable traffic solutions. V2V-V2I communication technologies can improve traffic management through real-time exchange of data among vehicles and with road infrastructure. It is also of great importance to investigate the adequate combination of V2V and V2I technologies to ensure the continuous and costefficient operation of traffic management solutions based on wireless vehicular cooperative solutions. However, to adequately design and optimize these communication protocols and analyze the potential of wireless vehicular cooperative systems to improve road traffic management, adequate testbeds and field operational tests need to be conducted. Despite the potential of Field Operational Tests to get the first insights into the benefits and problems faced in the development of wireless vehicular cooperative systems, there is yet the need to evaluate in the long term and large dimension the true potential benefits of wireless vehicular cooperative systems to improve traffic efficiency. To this aim, iTETRIS is devoted to the development of advanced tools coupling traffic and wireless communication simulators

The Poet and the Prophet

In 2002, nearly 70 years after its completion, a long essay by the celebrated Iraqi poet Maaruf Rusafi on the nature of prophecy in Islam was published in Germany. His reading of early Islamic history, in particular of the accomplishments of the Prophet Muhammad, roughly coincided with another new reading; that by the Egyptian Ali Abd al-Raziq. Rusafi’s admiration for Muhammad is enormous and he credits him with inspiring the Arabs to initiate a new order, taking humanity from the reign of tribal customs to the vision of communities built on shared ethics and beliefs

Phase diagrams of site diluted semi infinite ferromagnetic film

The magnetic susceptibility of a semi-infinite ferromagnetic films with a simple cubic lattice and the face centered cubic lattice is investigated by the method of exact high-temperature series expansions (HTSE) extrapolated with the Padé approximants method for Heisenberg, XY and Ising models. The magnetic phase diagrams in (tc (ν), c) plane are obtained. The value of the percolation threshold Xp is obtained. The Xp is defined at which tc= 0.The magnetic susceptibility of a semi-infinite ferromagnetic films with a simple cubic lattice and the face centered cubic lattice is investigated by the method of exact high-temperature series expansions (HTSE) extrapolated with the Padé approximants method for Heisenberg, XY and Ising models. The magnetic phase diagrams in (tc (ν), c) plane are obtained. The value of the percolation threshold Xp is obtained. The Xp is defined at which tc= 0

Entropic phase separation of linked beads

We study theoretically a model system of a transient network of microemulsion droplets connected by telechelic polymers and explain recent experimental findings. Despite the absence of any specific interactions between either the droplets or polymer chains, we predict that as the number of polymers per drop is increased, the system undergoes a first order phase separation into a dense, highly connected phase, in equilibrium with dilute droplets, decorated by polymer loops. The phase transition is purely entropic and is driven by the interplay between the translational entropy of the drops and the configurational entropy of the polymer connections between them. Because it is dominated by entropic effects, the phase separation mechanism of the system is extremely robust and does not depend on the particlular physical realization of the network. The discussed model applies as well to other polymer linked particle aggregates, such as nano-particles connected with short DNA linkers

Partition function of the trigonometric SOS model with reflecting end

We compute the partition function of the trigonometric SOS model with one reflecting end and domain wall type boundary conditions. We show that in this case, instead of a sum of determinants obtained by Rosengren for the SOS model on a square lattice without reflection, the partition function can be represented as a single Izergin determinant. This result is crucial for the study of the Bethe vectors of the spin chains with non-diagonal boundary terms.Comment: 13 pages, improved versio

Drinfeld twist and symmetric Bethe vectors of the open XYZ chain with non-diagonal boundary terms

With the help of the Drinfeld twist or factorizing F-matrix for the eight-vertex solid-on-solid (SOS) model, we find that in the F-basis provided by the twist the two sets of pseudo-particle creation operators simultaneously take completely symmetric and polarization free form. This allows us to obtain the explicit and completely symmetric expressions of the two sets of Bethe states of the model.Comment: Latex file, 25 page