Towards a voluntary Code of good conduct for Sovereign Debt Restructuring.

The experience of sovereign debt crises in the 1980s and the 1990s has shown that the resolution of crises involved co-operative efforts in which all parties concerned actively participated. With the globalisation of economies, the sophistication of financial techniques, the generalisation of marketable debt instruments and the large diversification of various classes of creditors, an appropriate reshuffling of the overall debt crisis framework appears increasingly necessary. In addition to the strengthening of the International Monetary Fund (IMF) crisis management procedures (e.g. enhancing limits to IMF financing), the international debate has first focused on two approaches for facilitating debt restructuring: the so-called “contractual approach” – based on the generalised inclusion of Collective Action Clauses (CAC) in bond contracts – and the “statutory approach”, i.e. the proposal of a legal international sovereign debt restructuring mechanism (SDRM). While important progress has been achieved in promoting CACs, including their incorporation in recent bond issues of major emerging market countries, the 2003 IMF Spring Meetings concluded that it was not feasible at this stage to move forward to establish the SDRM, while recognising that work should continue on issues that are of general relevance to the orderly resolution of crises. Against this background, the international community and the private sector have expressed interest in developing a non-statutory framework for addressing debt-servicing problems, based on a proposal of a voluntary “Code of Good Conduct” put forward by Governor Trichet. This Code would lay down general principles to be complied with by all stakeholders, provide creditors and debtors with a « roadmap » of the debt renegotiation process and a “tool kit” consisting of a range of instruments (primarily CAC), and procedures regarded by the international community as best practices. The G7 officials are expected to prepare a report on the Code, in consultation with issuers and the private sector by autumn 2003.

Vortices, zero modes and fractionalization in bilayer-graphene exciton condensate

A real-space formulation is given for the recently discussed exciton condensate in a symmetrically biased graphene bilayer. We show that in the continuum limit an oddly-quantized vortex in this condensate binds exactly one zero mode per valley index of the bilayer. In the full lattice model the zero modes are split slightly due to intervalley mixing. We support these results by an exact numerical diagonalization of the lattice Hamiltonian. We also discuss the effect of the zero modes on the charge content of these vortices and deduce some of their interesting properties.Comment: (v2) A typo in Fig. 1 and a slight error in Eq. (4) corrected; all the main results and conclusions remain unchange

Exact and Quasi-exact Models of Strange Stars

We construct and compare a variety of simple models for strange stars, namely, hypothetical self-bound objects made of a cold stable version of the quark-gluon plasma. Exact, quasi-exact and numerical models are examined to find the most economical description for these objects. A simple and successful parametrization of them is given in terms of the central density, and many differences among the models are explicitly shown and discussed.Comment: 20 pp. 15 figures, to appear in IJMP

Evidence for crossed Andreev reflection in superconductor-ferromagnet hybrid structures

We have measured the non-local resistance of aluminum-iron spin-valve structures fabricated by e-beam lithography and shadow evaporation. The sample geometry consists of an aluminum bar with two or more ferromagnetic wires forming point contacts to the aluminum at varying distances from each other. In the normal state of aluminum, we observe a spin-valve signal which allows us to control the relative orientation of the magnetizations of the ferromagnetic contacts. In the superconducting state, at low temperatures and excitation voltages well below the gap, we observe a spin-dependent non-local resistance which decays on a smaller length scale than the normal-state spin-valve signal. The sign, magnitude and decay length of this signal is consistent with predictions made for crossed Andreev reflection (CAR).Comment: RevTeX, 4 page

Sensitivity of the Moment of Inertia of Neutron Stars to the Equation of State of Neutron-Rich Matter

The sensitivity of the stellar moment of inertia to the neutron-star matter equation of state is examined using accurately-calibrated relativistic mean-field models. We probe this sensitivity by tuning both the density dependence of the symmetry energy and the high density component of the equation of state, properties that are at present poorly constrained by existing laboratory data. Particularly attractive is the study of the fraction of the moment of inertia contained in the solid crust. Analytic treatments of the crustal moment of inertia reveal a high sensitivity to the transition pressure at the core-crust interface. This may suggest the existence of a strong correlation between the density dependence of the symmetry energy and the crustal moment of inertia. However, no correlation was found. We conclude that constraining the density dependence of the symmetry energy - through, for example, the measurement of the neutron skin thickness in 208Pb - will place no significant bound on either the transition pressure or the crustal moment of inertia.Comment: 25 pages, 8 figures, 5 table

The quasi-free-standing nature of graphene on H-saturated SiC(0001)

We report on an investigation of quasi-free-standing graphene on 6H-SiC(0001) which was prepared by intercalation of hydrogen under the buffer layer. Using infrared absorption spectroscopy we prove that the SiC(0001) surface is saturated with hydrogen. Raman spectra demonstrate the conversion of the buffer layer into graphene which exhibits a slight tensile strain and short range defects. The layers are hole doped (p = 5.0-6.5 x 10^12 cm^(-2)) with a carrier mobility of 3,100 cm^2/Vs at room temperature. Compared to graphene on the buffer layer a strongly reduced temperature dependence of the mobility is observed for graphene on H-terminated SiC(0001)which justifies the term "quasi-free-standing".Comment: 3 pages, 3 figures, accepted for publication in Applied Physics Letter

Comparative study of gp130 cytokine effects on corticotroph AtT-20 cells - Redundancy or specificity of neuroimmunoendocrine modulators?

Objective: This comparative in vitro study examined the effects of all known gp130 cytokines on murine corticotroph AtT-20 cell function. Methods: Cytokines were tested at equimolar concentrations from 0.078 to 10 nM. Tyrosine phosphorylation of the signal transducer and activator of transcription ( STAT) 3 and STAT1, the STAT-dependent suppressor of cytokine signaling (SOCS)-3 promoter activity, SOCS-3 gene expression, STAT-dependent POMC promoter activity and adrenocorticotropic hormone ( ACTH) secretion were determined. Results: Leukemia inhibitory factor (LIF), human oncostatin M (OSM) and cardiotrophin (CT)-1 (LIFR/gp130 ligands), as well as ciliary neurotrophic factor ( CNTF) and novel neurotrophin1/B-cell stimulating factor-3 (CNTFRalpha/LIFR/gp130 ligands) are potent stimuli of corticotroph cells in vitro. In comparison, interleukin (IL)-6 (IL-6R/gp130 ligand) and IL-11 (IL-11R/gp130 ligand) exhibited only modest direct effects on corticotrophs, while murine OSM (OSMR/gp130 ligand) showed no effect. Conclusion: (i) CNTFR complex ligands are potent stimuli of corticotroph function, comparable to LIFR complex ligands; (ii) IL-6 and IL-11 are relatively weak direct stimuli of corticotroph function; (iii) differential effects of human and murine OSM suggest that LIFR/gp130 (OSMR type I) but not OSMR/gp130 (OSMR type II) are involved in corticotroph signaling. (iv) CT-1 has the hitherto unknown ability to stimulate corticotroph function, and (v) despite redundant immuno-neuroendocrine effects of different gp130 cytokines, corticotroph cells are preferably activated through the LIFR and CNTFR complexes. Copyright (C) 2004 S. Karger AG, Basel

The interaction between stray electrostatic fields and a charged free-falling test mass

We present an experimental analysis of force noise caused by stray electrostatic fields acting on a charged test mass inside a conducting enclosure, a key problem for precise gravitational experiments. Measurement of the average field that couples to test mass charge, and its fluctuations, is performed with two independent torsion pendulum techniques, including direct measurement of the forces caused by a change in electrostatic charge. We analyze the problem with an improved electrostatic model that, coupled with the experimental data, also indicates how to correctly measure and null the stray field that interacts with test mass charge. Our measurements allow a conservative upper limit on acceleration noise, of 2 fm/s$^2$\rthz\ for frequencies above 0.1 mHz, for the interaction between stray fields and charge in the LISA gravitational wave mission.Comment: Minor edits in PRL publication proces

Origins of anisotropic transport in electrically-switchable antiferromagnet Fe1/3NbS2\mathrm{Fe_1/3NbS_2}

Recent experiments on the antiferromagnetic intercalated transition metal dichalcogenide $\mathrm{Fe_{1/3}NbS_2}$ have demonstrated reversible resistivity switching by application of orthogonal current pulses below its magnetic ordering temperature, making $\mathrm{Fe_{1/3}NbS_2}$ promising for spintronics applications. Here, we perform density functional theory calculations with Hubbard U corrections of the magnetic order, electronic structure, and transport properties of crystalline $\mathrm{Fe_{1/3}NbS_2}$, clarifying the origin of the different resistance states. The two experimentally proposed antiferromagnetic ground states, corresponding to in-plane stripe and zigzag ordering, are computed to be nearly degenerate. In-plane cross sections of the calculated Fermi surfaces are anisotropic for both magnetic orderings, with the degree of anisotropy sensitive to the Hubbard U value. The in-plane resistance, computed within the Kubo linear response formalism using a constant relaxation time approximation, is also anisotropic, supporting a hypothesis that the current-induced resistance changes are due to a repopulating of AFM domains. Our calculations indicate that the transport anisotropy of $\mathrm{Fe_{1/3}NbS_2}$ in the zigzag phase is reduced relative to stripe, consistent with the relative magnitudes of resistivity changes in experiment. Finally, our calculations reveal the likely directionality of the current-domain response, specifically, which domains are energetically stabilized for a given current direction

The Microscopic Approach to Nuclear Matter and Neutron Star Matter

We review a variety of theoretical and experimental investigations aimed at improving our knowledge of the nuclear matter equation of state. Of particular interest are nuclear matter extreme states in terms of density and/or isospin asymmetry. The equation of state of matter with unequal concentrations of protons and neutrons has numerous applications. These include heavy-ion collisions, the physics of rare, short-lived nuclei and, on a dramatically different scale, the physics of neutron stars. The "common denominator" among these (seemingly) very different systems is the symmetry energy, which plays a crucial role in both the formation of the neutron skin in neutron-rich nuclei and the radius of a neutron star (a system 18 orders of magnitude larger and 55 orders of magnitude heavier). The details of the density dependence of the symmetry energy are not yet sufficiently constrained. Throughout this article, our emphasis will be on the importance of adopting a microscopic approach to the many-body problem, which we believe to be the one with true predictive power.Comment: 56 pages, review article to appear in the International Journal of Modern Physics