On regional integration in bank commercial lending

This paper tests the hypothesis that average interest rates for ten categories of commercial loans (short-term and long-term loans in five size classes) in the regions of the United States behave as if they were generated in an integrated national market. The tests, derived from two models of commercial lending in an integrated market , indicate that all regions are highly integrated in short-term lending in all size classes. In long-term lending, five of the six regions appear to be highly integrated in four of the five size classes. The exceptional region is the Southeast, which seems not only to be poorly integrated with the other regions but also to be far less homogeneous. The exceptional loan-size class is 0 to $10,000.

Information propagation through quantum chains with fluctuating disorder

We investigate the propagation of information through one-dimensional quantum chains in fluctuating external fields. We find that information propagation is suppressed, but in a quite different way compared to the situation with static disorder. We study two settings: (i) a general model where an unobservable fluctuating field acts as a source of decoherence; (ii) the XX model with both observable and unobservable fluctuating fields. In the first setting we establish a noise threshold below which information can propagate ballistically and above which information is localised. In the second setting we find localisation for all levels of unobservable noise, whilst an observable field can yield diffusive propagation of information.Comment: 5 pages, 2 figure

Bounds on Information Propagation in Disordered Quantum Spin Chains

We investigate the propagation of information through the disordered XY model. We find, with a probability that increases with the size of the system, that all correlations, both classical and quantum, are suppressed outside of an effective lightcone whose radius grows at most polylogarithmically with |t|.Comment: 4 pages, pdflatex, 1 pdf figure. Corrected the bound for the localised propagator and quantified the probability it bound occur

Quantum Metropolis Sampling

The original motivation to build a quantum computer came from Feynman who envisaged a machine capable of simulating generic quantum mechanical systems, a task that is believed to be intractable for classical computers. Such a machine would have a wide range of applications in the simulation of many-body quantum physics, including condensed matter physics, chemistry, and high energy physics. Part of Feynman's challenge was met by Lloyd who showed how to approximately decompose the time-evolution operator of interacting quantum particles into a short sequence of elementary gates, suitable for operation on a quantum computer. However, this left open the problem of how to simulate the equilibrium and static properties of quantum systems. This requires the preparation of ground and Gibbs states on a quantum computer. For classical systems, this problem is solved by the ubiquitous Metropolis algorithm, a method that basically acquired a monopoly for the simulation of interacting particles. Here, we demonstrate how to implement a quantum version of the Metropolis algorithm on a quantum computer. This algorithm permits to sample directly from the eigenstates of the Hamiltonian and thus evades the sign problem present in classical simulations. A small scale implementation of this algorithm can already be achieved with today's technologyComment: revised versio

Information propagation for interacting particle systems

We show that excitations of interacting quantum particles in lattice models always propagate with a finite speed of sound. Our argument is simple yet general and shows that by focusing on the physically relevant observables one can generally expect a bounded speed of information propagation. The argument applies equally to quantum spins, bosons such as in the Bose-Hubbard model, fermions, anyons, and general mixtures thereof, on arbitrary lattices of any dimension. It also pertains to dissipative dynamics on the lattice, and generalizes to the continuum for quantum fields. Our result can be seen as a meaningful analogue of the Lieb-Robinson bound for strongly correlated models.Comment: 4 pages, 1 figure, minor change

Freak Waves in Random Oceanic Sea States

Freak waves are very large, rare events in a random ocean wave train. Here we study the numerical generation of freak waves in a random sea state characterized by the JONSWAP power spectrum. We assume, to cubic order in nonlinearity, that the wave dynamics are governed by the nonlinear Schroedinger (NLS) equation. We identify two parameters in the power spectrum that control the nonlinear dynamics: the Phillips parameter $\alpha$ and the enhancement coefficient $\gamma$. We discuss how freak waves in a random sea state are more likely to occur for large values of $\alpha$ and $\gamma$. Our results are supported by extensive numerical simulations of the NLS equation with random initial conditions. Comparison with linear simulations are also reported.Comment: 7 pages, 6 figures, to be published in Phys. Rev. Let