Commercial property prices and bank performance

We seek to assess the effect of changes in commercial property prices on bank behaviour and performance in a range of industrialised economies, extending the existing micro literature on bank performance. The results suggest that, consistent with macro-level studies, commercial property prices have a marked impact on the behaviour and performance of individual banks. The signs found are consistent with a view that commercial property provides important forms of collateral that are perceived by banks to reduce risk and encourage lending. Such an impact exists even when conventional independent variables determining bank performance are included. Moreover, there is evidence that the magnitude of this impact is related to the size of the bank, the direction of commercial property price movements, and regional factors. The results have implications for risk managers, regulators and monetary policy makers. Notably, they underline the crucial relevance of commercial property prices as a macroprudential variable that warrants close scrutiny by the authorities. They also highlight the need to develop indicators of individual bank exposure to the property market that could help to calibrate the potential impact of changes in prices in stress tests

Comparing the Tsallis distribution with and without thermodynamical description in p+p collisions

We compare two types of Tsallis distribution, i.e., with and without thermodynamical description, using the experimental data from the STAR, PHENIX, ALICE and CMS Collaborations on the rapidity and energy dependence of the transverse momentum spectra in p+p collisions. Both of them can give us the similar fitting power to the particle spectra. We show that the Tsallis distribution with thermodynamical description gives lower temperatures than the ones without it. The extra factor $m_T$ (transverse mass) in the Tsallis distribution with thermodynamical description plays an important role in the discrepancies between the two types of Tsallis distribution. But for the heavy particles, the choice to use the $m_T$ or $E_T$ (transverse energy) in the Tsallis distribution becomes more crucial.Comment: 9 pages, 5 figure

Gravitational Lensing Statistics as a Probe of Dark Energy

By using the comoving distance, we derive an analytic expression for the optical depth of gravitational lensing, which depends on the redshift to the source and the cosmological model characterized by the cosmic mass density parameter $\Omega_m$, the dark energy density parameter $\Omega_x$ and its equation of state $\omega_x = p_x/\rho_x$. It is shown that, the larger the dark energy density is and the more negative its pressure is, the higher the gravitational lensing probability is. This fact can provide an independent constraint for dark energy.Comment: 9 pages, 2 figure

Lifetime Improvement in Wireless Sensor Networks via Collaborative Beamforming and Cooperative Transmission

Collaborative beamforming (CB) and cooperative transmission (CT) have recently emerged as communication techniques that can make effective use of collaborative/cooperative nodes to create a virtual multiple-input/multiple-output (MIMO) system. Extending the lifetime of networks composed of battery-operated nodes is a key issue in the design and operation of wireless sensor networks. This paper considers the effects on network lifetime of allowing closely located nodes to use CB/CT to reduce the load or even to avoid packet-forwarding requests to nodes that have critical battery life. First, the effectiveness of CB/CT in improving the signal strength at a faraway destination using energy in nearby nodes is studied. Then, the performance improvement obtained by this technique is analyzed for a special 2D disk case. Further, for general networks in which information-generation rates are fixed, a new routing problem is formulated as a linear programming problem, while for other general networks, the cost for routing is dynamically adjusted according to the amount of energy remaining and the effectiveness of CB/CT. From the analysis and the simulation results, it is seen that the proposed method can reduce the payloads of energy-depleting nodes by about 90% in the special case network considered and improve the lifetimes of general networks by about 10%, compared with existing techniques.Comment: Invited paper to appear in the IEE Proceedings: Microwaves, Antennas and Propagation, Special Issue on Antenna Systems and Propagation for Future Wireless Communication

Accelerating universe from gravitational leakage into extra dimensions: confrontation with SNeIa

There is mounting observational evidence that the expansion of our universe is undergoing an acceleration. A dark energy component has usually been invoked as the most feasible mechanism for the acceleration. However, it is desirable to explore alternative possibilities motivated by particle physics before adopting such an untested entity. In this work, we focus our attention on an acceleration mechanism: one arising from gravitational leakage into extra dimensions. We confront this scenario with high-$z$ type Ia supernovae compiled by Tonry et al. (2003) and recent measurements of the X-ray gas mass fractions in clusters of galaxies published by Allen et al. (2002,2003). A combination of the two databases gives at a 99% confidence level that $\Omega_m=0.29^{+0.04}_{-0.02}$, $\Omega_{rc}=0.21^{+0.08}_{-0.08}$, and $\Omega_k=-0.36^{+0.31}_{-0.35}$, indicating a closed universe. We then constrain the model using the test of the turnaround redshift, $z_{q=0}$, at which the universe switches from deceleration to acceleration. We show that, in order to explain that acceleration happened earlier than $z_{q=0} = 0.6$ within the framework of gravitational leakage into extra dimensions, a low matter density, $\Omega_m < 0.27$, or a closed universe is necessary.Comment: 16 pages, 4 figures, accepted for publication in Ap

Superconductivity in Ti-doped Iron-Arsenide Compound Sr4Cr0.8Ti1.2O6Fe2As2

Superconductivity was achieved in Ti-doped iron-arsenide compound Sr4Cr0.8Ti1.2O6Fe2As2 (abbreviated as Cr-FeAs-42622). The x-ray diffraction measurement shows that this material has a layered structure with the space group of \emph{P4/nmm}, and with the lattice constants a = b = 3.9003 A and c = 15.8376 A. Clear diamagnetic signals in ac susceptibility data and zero-resistance in resistivity data were detected at about 6 K, confirming the occurrence of bulk superconductivity. Meanwhile we observed a superconducting transition in the resistive data with the onset transition temperature at 29.2 K, which may be induced by the nonuniform distribution of the Cr/Ti content in the FeAs-42622 phase, or due to some other minority phase.Comment: 3 pages, 3 figure