Spillovers between non-commercial traders’ activity and spot prices? Analysis of the financialization mechanism in the crude oil market

PurposeThe purpose of this stud is to analyze the financialization effect on oil prices.Design/methodology/approachThis study applied the technique of multibreak point analysis with Bai and Perron test plus VAR methodology.FindingsFindings revealed that there was no effect on oil prices.Originality/valueTo the best of the author's knowledge, this is the first paper combining the multibreakpoint analysis with VAR for the period analyzed in the present work

Determination of quark-antiquark component of the photon wave function for u, d, s quarks

Based on the data for the transitions pi0, eta, eta' -> gamma gamma^*(Q^2) and reactions of the e^+ e^- -annihilations, e^+ e^- -> rho0, omega, phi and e^+ e^--> hadrons at 1<E_{e^+e^-}<3.7 GeV, we determine the light-quark components of the photon wave function gamma^*(Q^2) -> q anti-q (q= u, d, s) for the region 0< Q^2 <1 (GeV/c)^2.Comment: 17 pages, some typos correcte

Masonry arches strengthened with composite unbonded tendons

In this paper an analytical model to evaluate the structural behavior of masonry arches and vaults strengthened with composite unbonded tendons placed at the extrados is presented. The tendons are fixed at the imposts. The model is formulated under the assumption of finite displacements. The displaced equilibrium configurations are identified by the stationariety of the potential of the acting forces. It is shown that when the tendon is not pretensioned an increase of the arch collapse load can be achieved only if the axial stiffness of the tendon is sufficiently large. Instead if the tendon is pretensioned an increase of the load that induces the first displacement of the arch is always achieved. If the stiffness of the tendon is sufficiently large the collapse load will be greater than the load that produces the first displacement of the arch

Masonry arches strengthened with composite unbonded tendons

In this paper an analytical model to evaluate the structural behavior of masonry arches and vaults strengthened with composite unbonded tendons placed at the extrados is presented. The tendons are fixed at the imposts. The model is formulated under the assumption of finite displacements. The displaced equilibrium configurations are identified by the stationariety of the potential of the acting forces. It is shown that when the tendon is not pretensioned an increase of the arch collapse load can be achieved only if the axial stiffness of the tendon is sufficiently large. Instead if the tendon is pretensioned an increase of the load that induces the first displacement of the arch is always achieved. If the stiffness of the tendon is sufficiently large the collapse load will be greater than the load that produces the first displacement of the arch

Measurement of Exclusive rho^0 rho^0 Production in Two-Photon Collisions at High Q^2 at LEP

Exclusive rho rho production in two-photon collisions involving a single highly virtual photon is studied with data collected at LEP at centre-of-mass energies 89GeV < \sqrt{s} < 209GeV with a total integrated luminosity of 854.7pb^-1 The cross section of the process gamma gamma^* -> rho rho is determined as a function of the photon virtuality, Q^2 and the two-photon centre-of-mass energy, Wgg, in the kinematic region: 1.2GeV^2 < Q^2 < 30GeV^2 and 1.1GeV < Wgg < 3GeV

Search for an invisibly decaying Higgs boson in e^+e^- collisions at \sqrt{s} = 183 - 189 GeV

A search for a Higgs boson decaying into invisible particles is performed using the data collected at LEP by the L3 experiment at centre-of-mass energies of 183 GeV and 189 GeV. The integrated luminosities are respectively 55.3 pb^-1 and 176.4 pb^-1. The observed candidates are consistent with the expectations from Standard Model processes. In the hypothesis that the production cross section of this Higgs boson equals the Standard Model one and the branching ratio into invisible particles is 100%, a lower mass limit of 89.2 GeV is set at 95% confidence level

Measurement of Hadron and Lepton-Pair Production at 130GeV < \sqrt{s} < 189 GeV at LEP

We report on measurements of e+e- annihilation into hadrons and lepton pairs. The data have been collected with the L3 detector at LEP at centre-of-mass energies between 130 and 189 GeV. Using a total integrated luminosity of 243.7 pb^-1, 25864 hadronic and 8573 lepton-pair events are selected for the measurement of cross sections and leptonic forward-backward asymmetries. The results are in good agreement with Standard Model predictions

Measurement of the Tau Branching Fractions into Leptons

Using data collected with the L3 detector near the Z resonance, corresponding to an integrated luminosity of 150pb-1, the branching fractions of the tau lepton into electron and muon are measured to be B(tau->e nu nu) = (17.806 +- 0.104 (stat.) +- 0.076 (syst.)) %, B(tau->mu nu nu) = (17.342 +- 0.110 (stat.) +- 0.067 (syst.)) %. From these results the ratio of the charged current coupling constants of the muon and the electron is determined to be g_mu/g_e = 1.0007 +- 0.0051. Assuming electron-muon universality, the Fermi constant is measured in tau lepton decays as G_F = (1.1616 +- 0.0058) 10^{-5} GeV^{-2}. Furthermore, the coupling constant of the strong interaction at the tau mass scale is obtained as alpha_s(m_tau^2) = 0.322 +- 0.009 (exp.) +- 0.015 (theory)

Higgs Candidates in e+e- Interactions at root(s) = 206.6 GeV

In a search for the Standard Model Higgs boson, carried out on 212.5 pb-1 of data collected by the L3 detector at the highest LEP centre-of-mass energies, including 116.5 pb-1 above root(s) = 206GeV, an excess of candidates for the process e+e- -> Z* -> HZ is found for Higgs masses near 114.5GeV. We present an analysis of our data and the characteristics of our strongest candidates.Comment: Footnote added, matches the version to be published in Physics Letters

Search for Manifestations of New Physics in Fermion-Pair Production at LEP

The measurements of hadron and lepton-pair production cross sections and leptonic forward-backward asymmetries performed with the L3 detector at centre-of-mass energies between 130 GeV and 189 GeV are used to search for new physics phenomena such as: contact interactions, exchange of virtual leptoquarks, scalar quarks and scalar neutrinos, effects of TeV strings in models of quantum gravity with large extra dimensions and non-zero sizes of the fermions. No evidence for these phenomena is found and new limits on their parameters are set