51,787 research outputs found
Magnetic field reversals and galactic dynamos
We argue that global magnetic field reversals similar to those observed in
the Milky Way occur quite frequently in mean-field galactic dynamo models that
have relatively strong, random, seed magnetic fields that are localized in
discrete regions. The number of reversals decreases to zero with reduction of
the seed strength, efficiency of the galactic dynamo and size of the spots of
the seed field. A systematic observational search for magnetic field reversals
in a representative sample of spiral galaxies promises to give valuable
information concerning seed magnetic fields and, in this way, to clarify the
initial stages of galactic magnetic field evolution
Big Bad Banks? The Winners and Losers From Bank Deregulation in the United States
We assess the impact of bank deregulation on the distribution of income in the United States. From the 1970s through the 1990s, most states removed restrictions on intrastate branching, which intensified bank competition and improved bank performance. Exploiting the cross-state, cross-time variation in the timing of branch deregulation, we find that deregulation materially tightened the distribution of income by boosting incomes in the lower part of the income distribution while having little impact on incomes above the median. The results suggest that regulatory impediment to competition among banks during the 20th century were disproportionally harmful to lower income workers.Financial Institutions;Government Policy and Regulation;Income Inequality
Accounting for Seismic Risk in Financial Analysis of Property Investment
A methodology is presented for making property investment decisions using loss
analysis and the principles of decision analysis. It proposes that the investor choose among
competing investment alternatives on the basis of the certainty equivalent of their net asset value
which depends on the uncertain discounted future net income, uncertain discounted future
earthquake losses, initial equity and the investor’s risk tolerance. The earthquake losses are
modelled using a seismic vulnerability function, the site seismic hazard function, and an
assumption that strong shaking at a site follows a Poisson process. A building-specific
vulnerability approach, called assembly-based vulnerability, or ABV, is used. ABV involves a
simulation approach that includes dynamic structural analyses and damage analyses using
fragility functions and probability distributions on unit repair costs and downtimes for all
vulnerable structural and nonstructural components in a building. The methodology is
demonstrated using some results from a seven-storey reinforced-concrete hotel in Los Angeles
The magnetic field of M31 from multi-wavelength radio polarization observations
The configuration of the regular magnetic field in M31 is deduced from radio
polarization observations at the wavelengths 6, 11 and 20 cm. By fitting the
observed azimuthal distribution of polarization angles, we find that the
regular magnetic field, averaged over scales 1--3 kpc, is almost perfectly
axisymmetric in the radial range 8 to 14 kpc, and follows a spiral pattern with
pitch angles of p\simeq -19\degr to p\simeq -8\degr. In the ring between 6
and 8 kpc a perturbation of the dominant axisymmetric mode may be present,
having the azimuthal wave number m=2. A systematic analysis of the observed
depolarization allows us to identify the main mechanism for wavelength
dependent depolarization -- Faraday rotation measure gradients arising in a
magneto-ionic screen above the synchrotron disk. Modelling of the
depolarization leads to constraints on the relative scale heights of the
thermal and synchrotron emitting layers in M31; the thermal layer is found to
be up to three times thicker than the synchrotron disk. The regular magnetic
field must be coherent over a vertical scale at least similar to the scale
height of the thermal layer, estimated to be h\therm\simeq 1 kpc. Faraday
effects offer a powerful method to detect thick magneto-ionic disks or halos
around spiral galaxies.Comment: 17 pages, 16 figures, accepted for publication in A&
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