Banking and Transparency: Is More Information Always Better?

This paper shows that transparency in banking can be harmful from a social planner's point of view. According to our model, enhancing transparency above a certain level may lead to the inefficient liquidation of a bank. The reason lies in the nature of a standard deposit contract: its payoff scheme has limited upside gains (cap) but leaves the depositor with the downside risk. Accordingly, depositors will not take into account possible future upside gains of the bank when deciding whether or not to withdraw their deposits. Our result points towards a trade-off the regulator faces: while enhancing transparency may be useful to reduce incentives for excessive risk-taking (moral hazard), it may also increase the risk of inefficient bank runs.banking, transparency, financial stability, bank run

Implementation of quasi-static time series simulations for analysis of the impact of electric vehicles on the grid

© 2019 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.In this paper, symmetrical electric vehicle charging impacts in existing low-voltage distribution grid are investigated throughout proposed methodology and their results analysed. Symmetrical loading- and voltage-related impacts are assessed for the extensive grid. A synthetic EV mix pattern was used with the purpose to demonstrate a universal observation of charging impacts. These patterns were allocated quasi-randomly to the points of common coupling within the grid based on predefined scenarios - 8, 10, 12 and 20 percent. Subsequently, quasi-static time series simulations for a duration of one year in 10-minute time steps were executed. Consequently, this paper yields results, which offer practical insight in the maximum share of electric vehicle charging in low-voltage distribution grids and provide guidance for future decision-making of distribution grid operators

On the reorientation transition of ultra-thin Ni/Cu(001) films

The reorientation transition of the magnetization of ferromagnetic films is studied on a microscopic basis within a Heisenberg spin model. Using a modified mean field formulation it is possible to calculate properties of magnetic thin films with non-integer thicknesses. This is especially important for the reorientation transition in Ni/Cu(001), as there the magnetic properties are a sensitive function of the film thickness. Detailed phase diagrams in the thickness-temperature plane are calculated using experimental parameters and are compared with experimental measurements by Baberschke and Farle (J. Appl. Phys. 81, 5038 (1997)).Comment: 7 pages(LaTeX2e) with one figure(eps), accepted for publication in JMMM. See also http://www.thp.Uni-Duisburg.DE/Publikationen/Publist_Us_R.htm

Effect of light Sr doping on the spin-state transition in LaCoO_3

We present an inelastic neutron scattering study of the low energy crystal-field excitations in the lightly doped cobalt perovskite La_0.998Sr_0.002CoO_3. In contrast to the parent compound LaCoO_3 an inelastic peak at energy transfer ~0.75 meV was found at temperatures below 30 K. This excitation apparently corresponds to a transition between a ground state orbital singlet and a higher excited orbital doublet, originating from a high-spin triplet split by a small trigonal crystal field. Another inelastic peak at an energy transfer ~0.6 meV was found at intermediate temperatures starting from T > 30 K. This confirms the presence of a thermally induced spin-state transition from the low-spin Co^3+ to a magnetic high-spin state in the non-disturbed LaCoO_3 matrix. We suggest that hole doping of LaCoO_3 leads to the creation of a magnetic polaron and hence to the low-to-high spin state transition on the relevant Co sites.Comment: 4 pages, 2 figures; based on a talk given at ICM'06, Kyoto; to appear in JMM

Modular nanomagnet design for spin qubits confined in a linear chain

On-chip micromagnets enable electrically controlled quantum gates on electron spin qubits. Extending the concept to a large number of qubits is challenging in terms of providing large enough driving gradients and individual addressability. Here we present a design aimed at driving spin qubits arranged in a linear chain and strongly confined in directions lateral to the chain. Nanomagnets are placed laterally to one side of the qubit chain, one nanomagnet per two qubits. The individual magnets are "U"-shaped, such that the magnetic shape anisotropy orients the magnetization alternately towards and against the qubit chain even if an external magnetic field is applied along the qubit chain. The longitudinal and transversal stray field components serve as addressability and driving fields. Using micromagnetic simulations we calculate driving and dephasing rates and the corresponding qubit quality factor. The concept is validated with spin-polarized scanning electron microscopy of Fe nanomagnets fabricated on silicon substrates, finding excellent agreement with micromagnetic simulations. Several features required for a scalable spin qubit design are met in our approach: strong driving and weak dephasing gradients, reduced crosstalk and operation at low external magnetic field.Comment: 6 pages, 4 figure

Magnetic domain walls in constrained geometries

Magnetic domain walls have been studied in micrometer-sized Fe20Ni80 elements containing geometrical constrictions by spin-polarized scanning electron microscopy and numerical simulations. By controlling the constriction dimensions, the wall width can be tailored and the wall type modified. In particular, the width of a 180 degree Neel wall can be strongly reduced or increased by the constriction geometry compared with the wall in unconstrained systems.Comment: 4 pages, 6 figure

Chronic Diarrhea in Dogs – Retrospective Study in 136 Cases

Background Chronic diarrhea (CD) is common in dogs, and information on frequency and distribution of primary and secondary causes is lacking. Objectives To evaluate underlying causes and predictors of outcome in dogs with CD. Animals One hundred and thirty-six client-owned dogs with CD (≥3 weeks duration). Methods Retrospective review of medical records (Small Animal Clinic, Freie Universität Berlin, Germany, 09/2009-07/2011). Quantification of final diagnoses and comparison of clinical aspects including disease severity and clinicopathological abnormalities among dogs with clinical remission (either complete [gastrointestinal signs absent] or partial [clinical improvement of gastrointestinal signs and reduced episodes with shortened duration]), and those without recovery. Results Ninety percent of dogs were diagnosed with a primary enteropathy: inflammatory (71%; of those 66% dietary responsive, 23% idiopathic, 11% antibiotic responsive), infectious (13%), neoplastic (4%), and in one dog each mechanical disease or systemic vasculitis. Secondary causes were diagnosed in 10% of dogs: exocrine pancreatic (6%), endocrine (2%), and in one dog each hepatic, renal, and cardiac disease. In total, 87% of dogs had clinical remission, whereas 13% died or did not respond to treatment: Lack of recovery was frequently recorded for dogs with primary inflammatory (idiopathic) or neoplastic disease and was significantly associated with increased disease severity scores (P = .005), anemia (hematocrit < 40%, P < .001), severe hypoalbuminemia (serum albumin <2.0 g/dL, P = .008), and severe hypocobalaminemia (serum cobalamin concentration <200 pg/mL, P = .006). Conclusions and clinical importance Inflammatory enteropathies and particularly those of dietary origin were the most common causes of CD in dogs. Findings support the usefulness of hematocrit, and serum albumin and cobalamin concentration as prognostic markers in dogs with CD