Entradas de capital: el papel de los controles

This paper analyzes the management of surges in capital inflows to Emerging Markets. It reviews the main policy tools, including fiscal and monetary policy, exchange rate policy, foreign exchange market intervention, domestic prudential regulation, and capital controls. A key conclusion is that, if the economy is operating near potential, if the level of reserves is adequate, if the exchange rate is not undervalued, and if the flows are likely to be transitory, then use of capital controls –in addition to both prudential and macroeconomic policy– is justified as part of the policy toolkit to manage inflows. Evidence from the current crisis suggests that controls aimed at achieving a less risky external liability structure reduced financial fragilities and increased growth resilience.capital inflows, capital controls, financial crisis

Light scattering observations of spin reversal excitations in the fractional quantum Hall regime

Resonant inelastic light scattering experiments access the low lying excitations of electron liquids in the fractional quantum Hall regime in the range $2/5 \geq \nu \geq 1/3$. Modes associated with changes in the charge and spin degrees of freedom are measured. Spectra of spin reversed excitations at filling factor $\nu \gtrsim 1/3$ and at $\nu \lesssim 2/5$ identify a structure of lowest spin-split Landau levels of composite fermions that is similar to that of electrons. Observations of spin wave excitations enable determinations of energies required to reverse spin. The spin reversal energies obtained from the spectra illustrate the significant residual interactions of composite fermions. At $\nu = 1/3$ energies of spin reversal modes are larger but relatively close to spin conserving excitations that are linked to activated transport. Predictions of composite fermion theory are in good quantitative agreement with experimental results.Comment: Submitted to special issue of Solid State Com

Resonant Enhancement of Inelastic Light Scattering in the Fractional Quantum Hall Regime at ν=1/3\nu=1/3

Strong resonant enhancements of inelastic light scattering from the long wavelength inter-Landau level magnetoplasmon and the intra-Landau level spin wave excitations are seen for the fractional quantum Hall state at $\nu = 1/3$. The energies of the sharp peaks (FWHM $\lesssim 0.2meV$) in the profiles of resonant enhancement of inelastic light scattering intensities coincide with the energies of photoluminescence bands assigned to negatively charged exciton recombination. To interpret the observed enhancement profiles, we propose three-step light scattering mechanisms in which the intermediate resonant transitions are to states with charged excitonic excitations.Comment: 5 pages, 5 figure

Multi-Gap Superconductivity in MgB2: Magneto-Raman Spectroscopy

Electronic Raman scattering studies on MgB2 single crystals as a function of excitation and polarization have revealed three distinct superconducting features: a clean gap below 37 cm-1 and two coherence peaks at 109 cm-1 and 78 cm-1 which we identify as the superconducting gaps in \pi- and \sigma-bands and as the Leggett's collective mode arising from the fluctuation in the relative phase between two superconducting condensates residing on corresponding bands. The temperature and field dependencies of the superconducting features have been established. A phononic Raman scattering study of the E2g boron stretching mode anharmonicity and of superconductivity induced self-energy effects is presented. We show that anharmonic two phonon decay is mainly responsible for the unusually large linewidth of the E2g mode. We observe ~2.5% hardening of the E2g phonon frequency upon cooling into the superconducting state and estimate the electron-phonon coupling strength associated with this renormalization.Comment: Invited review in a special issue "Superconductivity in MgB_2: Physics and Applications

A shooting algorithm for problems with singular arcs

In this article we propose a shooting algorithm for a class of optimal control problems for which all control variables appear linearly. The shooting system has, in the general case, more equations than unknowns and the Gauss-Newton method is used to compute a zero of the shooting function. This shooting algorithm is locally quadratically convergent if the derivative of the shooting function is one-to-one at the solution. The main result of this paper is to show that the latter holds whenever a sufficient condition for weak optimality is satisfied. We note that this condition is very close to a second order necessary condition. For the case when the shooting system can be reduced to one having the same number of unknowns and equations (square system) we prove that the mentioned sufficient condition guarantees the stability of the optimal solution under small perturbations and the invertibility of the Jacobian matrix of the shooting function associated to the perturbed problem. We present numerical tests that validate our method.Comment: No. RR-7763 (2011); Journal of Optimization, Theory and Applications, published as 'Online first', January 201

Electron Scattering From High-Momentum Neutrons in Deuterium

We report results from an experiment measuring the semi-inclusive reaction $d(e,e'p_s)$ where the proton $p_s$ is moving at a large angle relative to the momentum transfer. If we assume that the proton was a spectator to the reaction taking place on the neutron in deuterium, the initial state of that neutron can be inferred. This method, known as spectator tagging, can be used to study electron scattering from high-momentum (off-shell) neutrons in deuterium. The data were taken with a 5.765 GeV electron beam on a deuterium target in Jefferson Laboratory's Hall B, using the CLAS detector. A reduced cross section was extracted for different values of final-state missing mass $W^{*}$, backward proton momentum $\vec{p}_{s}$ and momentum transfer $Q^{2}$. The data are compared to a simple PWIA spectator model. A strong enhancement in the data observed at transverse kinematics is not reproduced by the PWIA model. This enhancement can likely be associated with the contribution of final state interactions (FSI) that were not incorporated into the model. A ``bound neutron structure function'' $F_{2n}^{eff}$ was extracted as a function of $W^{*}$ and the scaling variable $x^{*}$ at extreme backward kinematics, where effects of FSI appear to be smaller. For $p_{s}>400$ MeV/c, where the neutron is far off-shell, the model overestimates the value of $F_{2n}^{eff}$ in the region of $x^{*}$ between 0.25 and 0.6. A modification of the bound neutron structure function is one of possible effects that can cause the observed deviation.Comment: 33 pages RevTeX, 9 figures, to be submitted to Phys. Rev. C. Fixed 1 Referenc

A Kinematically Complete Measurement of the Proton Structure Function F2 in the Resonance Region and Evaluation of Its Moments

We measured the inclusive electron-proton cross section in the nucleon resonance region (W < 2.5 GeV) at momentum transfers Q**2 below 4.5 (GeV/c)**2 with the CLAS detector. The large acceptance of CLAS allowed for the first time the measurement of the cross section in a large, contiguous two-dimensional range of Q**2 and x, making it possible to perform an integration of the data at fixed Q**2 over the whole significant x-interval. From these data we extracted the structure function F2 and, by including other world data, we studied the Q**2 evolution of its moments, Mn(Q**2), in order to estimate higher twist contributions. The small statistical and systematic uncertainties of the CLAS data allow a precise extraction of the higher twists and demand significant improvements in theoretical predictions for a meaningful comparison with new experimental results.Comment: revtex4 18 pp., 12 figure

eta-prime photoproduction on the proton for photon energies from 1.527 to 2.227 GeV

Differential cross sections for the reaction gamma p -> eta-prime p have been measured with the CLAS spectrometer and a tagged photon beam with energies from 1.527 to 2.227 GeV. The results reported here possess much greater accuracy than previous measurements. Analyses of these data indicate for the first time the coupling of the etaprime N channel to both the S_11(1535) and P_11(1710) resonances, known to couple strongly to the eta N channel in photoproduction on the proton, and the importance of j=3/2 resonances in the process.Comment: 6 pages, 3 figure

Measurement of the Deuteron Structure Function F2 in the Resonance Region and Evaluation of Its Moments

Inclusive electron scattering off the deuteron has been measured to extract the deuteron structure function F2 with the CEBAF Large Acceptance Spectrometer (CLAS) at the Thomas Jefferson National Accelerator Facility. The measurement covers the entire resonance region from the quasi-elastic peak up to the invariant mass of the final-state hadronic system W~2.7 GeV with four-momentum transfers Q2 from 0.4 to 6 (GeV/c)^2. These data are complementary to previous measurements of the proton structure function F2 and cover a similar two-dimensional region of Q2 and Bjorken variable x. Determination of the deuteron F2 over a large x interval including the quasi-elastic peak as a function of Q2, together with the other world data, permit a direct evaluation of the structure function moments for the first time. By fitting the Q2 evolution of these moments with an OPE-based twist expansion we have obtained a separation of the leading twist and higher twist terms. The observed Q2 behaviour of the higher twist contribution suggests a partial cancellation of different higher twists entering into the expansion with opposite signs. This cancellation, found also in the proton moments, is a manifestation of the "duality" phenomenon in the F2 structure function

Observation of a new chi_b state in radiative transitions to Upsilon(1S) and Upsilon(2S) at ATLAS

The chi_b(nP) quarkonium states are produced in proton-proton collisions at the Large Hadron Collider (LHC) at sqrt(s) = 7 TeV and recorded by the ATLAS detector. Using a data sample corresponding to an integrated luminosity of 4.4 fb^-1, these states are reconstructed through their radiative decays to Upsilon(1S,2S) with Upsilon->mu+mu-. In addition to the mass peaks corresponding to the decay modes chi_b(1P,2P)->Upsilon(1S)gamma, a new structure centered at a mass of 10.530+/-0.005 (stat.)+/-0.009 (syst.) GeV is also observed, in both the Upsilon(1S)gamma and Upsilon(2S)gamma decay modes. This is interpreted as the chi_b(3P) system.Comment: 5 pages plus author list (18 pages total), 2 figures, 1 table, corrected author list, matches final version in Physical Review Letter