On the existence of effective potentials in time-dependent density functional theory

We investigate the existence and properties of effective potentials in time-dependent density functional theory. We outline conditions for a general solution of the corresponding Sturm-Liouville boundary value problems. We define the set of potentials and v-representable densities, give a proof of existence of the effective potentials under certain restrictions, and show the set of v-representable densities to be independent of the interaction.Comment: 13 page

Carving Out Legacy Assets: A Successful Tool for Bank Restructuring?

Beginning with the proposal by Enria (2017), the paper discusses the scope for successful bank restructuring through a carveout of impaired assets and a transfer of these assets to a government-sponsored asset management company. The paper argues that the success of such an operation requires a use of public funds, either outright or through contingent commitments. Clawback provisions are problematic because they create contingent liabilities that merely shift risks from the assets side to the liabilities sides of banks’ balance sheets. The paper distinguishes between asset impairments coming from considerations of prospective returns and asset impairments coming from frictions in the markets in which these assets are traded. It also distinguishes between threats to bank solvency and threats to bank funding/liquidity. In each case, the success of bank restructuring from asset carveouts depends on the extent to which threats to the bank’s solvency is eliminated. If these threats concern bank funding and asset liquidations at depressed prices, public funds may eventually not be needed. If threats to bank solvency come from nonperforming loans, taxpayer support may be essential. The notion of “real economic value” as the price at which assets should be transferred is problematic and leaves ample room for hidden subsidies. The success of restructuring of the individual bank may itself come at a risk to financial stability as the preservation of existing capacities maintains competitive pressure and depresses bank profitability. Additional risks may come from the burden on the government’s fiscal stance

DEVELOPMENT OF VIRTUAL EVENT MARKETING

In the last few years the Pichia pastoris expression system has been gaining more and more interest for the expression of recombinant proteins. Many groups have employed fermentation technology in their investigations because the system is fairly easy to scale up and suitable for the production in the milligram to gram range. A large number of heterologous proteins from different sources has been expressed, but the fermentation process technology has been investigated to a lesser extent. A large number of fermentations are carried out in standard bioreactors that may be insufficiently equipped to meet the demands of high-cell-density fermentations of methylotrophic yeasts. In particular, the lack of on-line methanol analysis leads to fermentation protocols that may impair the optimal expression of the desired products. We have used a commercially available methanol sensor to investigate in detail the effects of supplementary glycerol feeding while maintaining a constant methanol concentration during the induction of a Mut+ strain of Pichia pastoris. Specific glycerol feed rates in the range of 38-4.2 mg × g(exp -1) × h(exp -1) (mg glycerol per gram fresh weight per hour) were investigated. Expression of the recombinant scFv antibody fragment was only observed at specific feed rates below 6 mg × g(exp -1) × h(exp -1). At low specific feed rates, growth was even lower than with methanol as the sole carbon source and the harvest expression level of the scFv was only half of that found in the control fermentation. These results show that glycerol inhibits expression driven by the AOX1 promoter even at extremely limited availability and demonstrate the benefits of on-line methanol control in Pichia fermentation research

'Total Assets' Versus 'Risk Weighted Assets': Does it Matter for MREL Requirements?

The paper discusses the role of risk weighting in the determination of minimum requirements for eligible bail-in-able liabilities of banks (MREL), i.e. liabilities that are not exempt from the bail-in tool in bank resolution and that can be written down or converted into equity if losses on assets exceed the available equity and such bailing-in is required to re-establish bank solvency so as to provide a basis for maintaining systemically important operations in resolution. The paper begins with a general discussion of the reasons for introducing bank resolution as a special procedure outside of insolvency law, of the reasons for having the bail-in tool and of the frictions that may stand in the way of successful and frictionless resolution. This discussion emphasizes the importance of having sufficient bail-in-able liabilities available; in contrast, for large institutions that have access to bond markets, the social costs of such requirements are small (unlike the private costs to the banks themselves). However, neither risk weighted nor total assets provide proper guidance for determining MREL. Risk-weighting suffers from a lack of a proper statistical basis and a certain manipulability. Moreover, the risk weighting that is used for capital regulation is not well suited for determining MREL; whereas capital regulation focuses on the probability of bad results, MREL is concerned with the extent of losses conditional on results being bad. “Total assets” suffer from not truly representing total assets because various rules, e.g. for netting, allow banks to keep certain assets and liabilities off their balance sheets

Interplay of Chemical Bonding and Magnetism in Fe_4N, Fe_3N, Fe_2N

Using spin density functional theory we have carried out a comparative study of chemical bonding and magnetism in Fe_4N, Fe_3N and Fe_2N. All of these compounds form close packed Fe lattices, while N occupies octahedral interstitial positions. High spin fcc Fe and hypothetical FeN with rock salt structure have been included in our study as reference systems. We find strong, covalent Fe-N bonds as a result of a substantial \sigma-type p-d hybridisation, with some charge transfer to N. Those Fe d orbitals which contribute to the p-d bonds, do no longer participate in the exchange splitting of the Fe d bands. Because of the large exchange fields, the majority spin d bands are always fully occupied, while the minority spin d bands are close to half-filling, thus optimizing the Fe d-d covalent bonding. As a consequence, in good approximation the individual Fe moments decrease in steps of 0.5 \mu_B from fcc iron (2.7 \mu_B) via Fe_4N (2.7 and 1.97 mu_B}), \chem{Fe_3N} (1.99 \mu_B) to \zeta - Fe_2N (1.43 \mu_B).Comment: 16 pages, 15 figure

2s Hyperfine Structure in Hydrogen Atom and Helium-3 Ion

The usefulness of study of hyperfine splitting in the hydrogen atom is limited on a level of 10 ppm by our knowledge of the proton structure. One way to go beyond 10 ppm is to study a specific difference of the hyperfine structure intervals 8 Delta nu_2 - Delta nu_1. Nuclear effects for are not important this difference and it is of use to study higher-order QED corrections.Comment: 10 pages, presented at Hydrogen Atom II meeting (2000

The Measurement Process in Local Quantum Theory and the EPR Paradox

We describe in a qualitative way a possible picture of the Measurement Process in Quantum Mechanics, which takes into account: 1. the finite and non zero time duration T of the interaction between the observed system and the microscopic part of the measurement apparatus; 2. the finite space size R of that apparatus; 3. the fact that the macroscopic part of the measurement apparatus, having the role of amplifying the effect of that interaction to a macroscopic scale, is composed by a very large but finite number N of particles. The conventional picture of the measurement, as an instantaneous action turning a pure state into a mixture, arises only in the limit in which N and R tend to infinity, and T tends to 0. We sketch here a proposed scheme, which still ought to be made mathematically precise in order to analyse its implications and to test it in specific models, where we argue that in Quantum Field Theory this picture should apply to the unique time evolution expressing the dynamics of a given theory, and should comply with the Principle of Locality. We comment on the Einstein Podolski Rosen thought experiment (partly modifying the discussion on this point in an earlier version of this note), reformulated here only in terms of local observables (rather than global ones, as one particle or polarisation observables). The local picture of the measurement process helps to make it clear that there is no conflict with the Principle of Locality.Comment: 18 page

Disorder-induced microscopic magnetic memory

Using coherent x-ray speckle metrology, we have measured the influence of disorder on major loop return point memory (RPM) and complementary point memory (CPM) for a series of perpendicular anisotropy Co/Pt multilayer films. In the low disorder limit, the domain structures show no memory with field cycling--no RPM and no CPM. With increasing disorder, we observe the onset and the saturation of both the RPM and the CPM. These results provide the first direct ensemble-sensitive experimental study of the effects of varying disorder on microscopic magnetic memory and are compared against the predictions of existing theories.Comment: 4 pages, 4 figures. Accepted for publication in Physical Review Letters in Nov. 200

Disorder-induced magnetic memory: Experiments and theories

Beautiful theories of magnetic hysteresis based on random microscopic disorder have been developed over the past ten years. Our goal was to directly compare these theories with precise experiments. We first developed and then applied coherent x-ray speckle metrology to a series of thin multilayer perpendicular magnetic materials. To directly observe the effects of disorder, we deliberately introduced increasing degrees of disorder into our films. We used coherent x-rays to generate highly speckled magnetic scattering patterns. The apparently random arrangement of the speckles is due to the exact configuration of the magnetic domains in the sample. In effect, each speckle pattern acts as a unique fingerprint for the magnetic domain configuration. Small changes in the domain structure change the speckles, and comparison of the different speckle patterns provides a quantitative determination of how much the domain structure has changed. How is the magnetic domain configuration at one point on the major hysteresis loop related to the configurations at the same point on the loop during subsequent cycles? The microscopic return-point memory(RPM) is partial and imperfect in the disordered samples, and completely absent when the disorder was not present. We found the complementary-point memory(CPM) is also partial and imperfect in the disordered samples and completely absent when the disorder was not present. We found that the RPM is always a little larger than the CPM. We also studied the correlations between the domains within a single ascending or descending loop. We developed new theoretical models that do fit our experiments.Comment: 26 pages, 25 figures, Accepted by Physical Review B 01/25/0