Collateral eligibility of corporate debt in the Eurosystem

We study the many implications of the Eurosystem collateral framework for corporate bonds. Using data on the evolving collateral eligibility list, we identify the first inclusion dates of bonds and issuers and use these events to find that the increased supply and demand for pledgeable collateral following eligibility (a) increases activity in the corporate securities lending market, (b) lowers eligible bond yields, and (c) affects bond liquidity. Thus, corporate bond lending relaxes the constraint of limited collateral supply and thereby improves market functioning

Key drivers for copepod assemblages in a eutrophic coastal brackish lake

The copepod assemblages and abiotic parameters were investigated at 11 stations in a large coastal lake (Lake Manzalah, Nile Delta) from 2009-2010 in order to verify any impacts of eutrophication and salinity on the copepod species composition. The environmental conditions and the copepod assemblages appeared to have changed in comparison with previous studies, possibly because of increasing eutrophication and invasions of non-indigenous species (NIS). The aim of the present study was the identification of species which can be used as ecological indicators of high trophic status. Among the nine copepod species of Lake Manzalah, Acartia tonsa, Mesocyclops ogunnus, and Apocyclops panamensis were reported for the first time. Acartia tonsa, a well-known NIS for the Mediterranean, numerically dominated the copepod assemblages in some portions of the lake. The distribution of Acanthocyclops trajani and Thermocyclops consimilis was insensible to eutrophication because they can stand high levels of nutrients and hypoxia. Compared with previous reports, the copepod assemblage of Lake Manzalah was richer in species. The invasions of NIS, in addition to the heterogeneous progress of eutrophication in the lake, created an environmental mosaic with many species in total, but with single areas suitable for only a small number of them

Sub-wavelength surface IR imaging of soft-condensed matter

Outlined here is a technique for sub-wavelength infrared surface imaging performed using a phase matched optical parametric oscillator laser and an atomic force microscope as the detection mechanism. The technique uses a novel surface excitation illumination approach to perform simultaneously chemical mapping and AFM topography imaging with an image resolution of 200 nm. This method was demonstrated by imaging polystyrene micro-structures

Credit default swaps around the world

We analyze the impact of the introduction of credit default swaps (CDSs) on real decision-making within the firm. Our structural model predicts that CDS introduction increases debt capacity more when uncertainty about the credit events that trigger CDS payment is lower. Using a sample of more than 56,000 firms across 51 countries, we find that CDSs increase leverage more in legal and market environments where uncertainty about CDS obligations is reduced and when property rights are weaker. Our results highlight the importance of legal uncertainty in the interpretation of the underlying trigger events of global credit derivatives

HI Fluctuations at Large Redshifts: I--Visibility correlation

We investigate the possibility of probing the large scale structure in the universe at large redshifts by studying fluctuations in the redshifted 1420 MHz emission from the neutral hydrogen (HI) at early epochs. The neutral hydrogen content of the universe is known from absorption studies for z<4.5. The HI distribution is expected to be inhomogeneous in the gravitational instability picture and this inhomogeneity leads to anisotropy in the redshifted HI emission. The best hope of detecting this anisotropy is by using a large low-frequency interferometric instrument like the Giant Meter-Wave Radio Telescope (GMRT). We calculate the visibility correlation function <V_nu(u) V_nu'(u)> at two frequencies nu and nu' of the redshifted HI emission for an interferometric observation. In particular we give numerical results for the two GMRT channels centered around nu =325 and 610 MHz from density inhomogeneity and peculiar velocity of the HI distribution. The visibility correlation is ~10^-9 to 10^-10 Jy^2. We calculate the signal-to-noise for detecting the correlation signal in the presence of system noise and show that the GMRT might detect the signal for integration times ~ 100 hrs. We argue that the measurement of visibility correlation allows optimal use of the uncorrelated nature of the system noise across baselines and frequency channels.Comment: 17 pages, 2 figures, Submitted to JA

On the universality of the fluctuation-dissipation ratio in non-equilibrium critical dynamics

The two-time nonequilibrium correlation and response functions in 1D kinetic classical spin systems with non-conserved dynamics and quenched to their zero-temperature critical point are studied. The exact solution of the kinetic Ising model with Glauber dynamics for a wide class of initial states allows for an explicit test of the universality of the non-equilibrium limit fluctuation-dissipation ratio X_{\infty}. It is shown that the value of X_{\infty} depends on whether the initial state has finitely many domain walls or not and thus two distinct dynamic universality classes can be identified in this model. Generic 1D kinetic spin systems with non-conserved dynamics fall into the same universality classes as the kinetic Glauber-Ising model provided the dynamics is invariant under the C-symmetry of simultaneous spin and magnetic-field reversal. While C-symmetry is satisfied for magnetic systems, it need not be for lattice gases which may therefore display hitherto unexplored types of non-universal kinetics

Using HI to probe large scale structures at z ~ 3

The redshifted 1420 MHz emission from the HI in unresolved damped Lyman-\alpha clouds at high z will appear as a background radiation in low frequency radio observations. This holds the possibility of a new tool for studying the universe at high-z, using the mean brightness temperature to probe the HI content and its fluctuations to probe the power spectrum. Existing estimates of the HI density at z~3 imply a mean brightness temperature of 1 mK at 320 Mhz. The cross-correlation between the temperature fluctuations across different frequencies and sight lines is predicted to vary from 10^{-7} K^2 to 10^{-8} K^2 over intervals corresponding to spatial scales from 10 Mpc to 40 Mpc for some of the currently favoured cosmological models. Comparing this with the expected sensitivity of the GMRT, we find that this can be detected with \~10 hrs of integration, provided we can distinguish it from the galactic and extragalactic foregrounds which will swamp this signal. We discuss a strategy based on the very distinct spectral properties of the foregrounds as against the HI emission, possibly allowing the removal of the foregrounds from the observed maps.Comment: 16 pages, includes 6 figures, accepted in JAA (minor revisions, references added

Quasiparticle bandgap engineering of graphene and graphone on hexagonal boron nitride substrate

Graphene holds great promise for post-silicon electronics, however, it faces two main challenges: opening up a bandgap and finding a suitable substrate material. In principle, graphene on hexagonal boron nitride (hBN) substrate provides potential system to overcome these challenges. Recent theoretical and experimental studies have provided conflicting results: while theoretical studies suggested a possibility of a finite bandgap of graphene on hBN, recent experimental studies find no bandgap. Using the first-principles density functional method and the many-body perturbation theory, we have studied graphene on hBN substrate. A Bernal stacked graphene on hBN has a bandgap on the order of 0.1 eV, which disappears when graphene is misaligned with respect to hBN. The latter is the likely scenario in realistic devices. In contrast, if graphene supported on hBN is hydrogenated, the resulting system (graphone) exhibits bandgaps larger than 2.5 eV. While the bandgap opening in graphene/hBN is due to symmetry breaking and is vulnerable to slight perturbation such as misalignment, the graphone bandgap is due to chemical functionalization and is robust in the presence of misalignment. The bandgap of graphone reduces by about 1 eV when it is supported on hBN due to the polarization effects at the graphone/hBN interface. The band offsets at graphone/hBN interface indicate that hBN can be used not only as a substrate but also as a dielectric in the field effect devices employing graphone as a channel material. Our study could open up new way of bandgap engineering in graphene based nanostructures.Comment: 8 pages, 4 figures; Nano Letters, Publication Date (Web): Oct. 25 2011, http://pubs.acs.org/doi/abs/10.1021/nl202725

Results of rocket measurements of D-region ionization over Thumba in MAP

Under MAP, two rockets were launched from Thumba (8.5 N, 76.8 E) around 1030 hrs Lt with identical payloads on 7 and 10 March 1986 for D region studies. Positive ion densities were measured by spherical probe and Gerdien condenser and electron densities were measured by Langmuir probe and propagation experiments. In both flights a valley in ionization height profile was noticed around 83 km. The density of ionization at this altitude was about 4 x 10(2) cu cm. A detailed positive ion-chemical scheme was used to reproduce the measured ionization height profiles. The density of NO needed to reproduce the valley in ionization at 83 km came around 5 x 10(5) cu cm. A photochemical treatment without diffusion process was found inadequate to explain this value of NO. Calculations showed that the value of vertical eddy diffusion needed to reproduce the value of NO was around 10(6)sq cm/s. Interestingly, the same value of eddy diffusion coefficient was obtained when derived in the manner described by Thrane and his coworkers using only the positive ion current data of spherical probes