Monetary transmission and bank lending in Germany

This paper analyses the role of bank lending in the monetary transmission process in Germany. We follow a sectoral approach by distinguishing corporate lending and household lending. We find that banks respond to a monetary contraction by adjusting their securities holdings, rather than reducing their loans portfolio. Most lending categories even show an increase following a monetary tightening. The main implication of our results is that a bank lending channel is not an important transmission mechanism. On the contrary, by insulating their loans portfolio from monetary shocks, banks are more likely to weaken than to strengthen the impact of monetary policy.

A Robust and Efficient Three-Layered Dialogue Component for a Speech-to-Speech Translation System

We present the dialogue component of the speech-to-speech translation system VERBMOBIL. In contrast to conventional dialogue systems it mediates the dialogue while processing maximally 50% of the dialogue in depth. Special requirements like robustness and efficiency lead to a 3-layered hybrid architecture for the dialogue module, using statistics, an automaton and a planner. A dialogue memory is constructed incrementally.Comment: Postscript file, compressed and uuencoded, 15 pages, to appear in Proceedings of EACL-95, Dublin

Higgs effects in top anti-top production near threshold in e+ e- annihilation

The completion of the third-order QCD corrections to the inclusive top-pair production cross section near threshold demonstrates that the strong dynamics is under control at the few percent level. In this paper we consider the effects of the Higgs boson on the cross section and, for the first time, combine the third-order QCD result with the third-order P-wave, the leading QED and the leading non-resonant contributions. We study the size of the different effects and investigate the sensitivity of the cross section to variations of the top-quark Yukawa coupling due to possible new physics effects.Comment: LaTeX, 17 page

NLO QCD corrections to W+ W- b anti-b production with leptonic decays in the light of top quark mass and asymmetry measurements

We present the NLO QCD corrections to the processes p p and p anti-p to W+ W- b anti-b including leptonic decays of the W bosons. Non-resonant contributions as well as diagrams with doubly resonant and singly resonant top quark propagators are fully taken into account. We employ the narrow width approximation to perform the decays of the W bosons; spin correlations are however preserved. We also calculate observables relevant for top quark mass measurements, and study the impact of kinematical requirements and different scale choices on t anti-t asymmetries.Comment: 29 pages, 14 figures, version submitted to and accepted by JHE

Multiframe Scene Flow with Piecewise Rigid Motion

We introduce a novel multiframe scene flow approach that jointly optimizes the consistency of the patch appearances and their local rigid motions from RGB-D image sequences. In contrast to the competing methods, we take advantage of an oversegmentation of the reference frame and robust optimization techniques. We formulate scene flow recovery as a global non-linear least squares problem which is iteratively solved by a damped Gauss-Newton approach. As a result, we obtain a qualitatively new level of accuracy in RGB-D based scene flow estimation which can potentially run in real-time. Our method can handle challenging cases with rigid, piecewise rigid, articulated and moderate non-rigid motion, and does not rely on prior knowledge about the types of motions and deformations. Extensive experiments on synthetic and real data show that our method outperforms state-of-the-art.Comment: International Conference on 3D Vision (3DV), Qingdao, China, October 201

Establishing a Research Information System as Part of an Integrated Approach to Information Management: Best Practice at the Karlsruhe Institute of Technology (KIT)

The Karlsruhe Institute of Technology (KIT) is one of the largest research and higher education organisations in the world focusing on engineering and natural sciences. At present KIT, under the chairmanship of its executive board, is installing an extensive current research information system (CRIS) covering all institutes and facilities of the organisation. The assumption underlying the project is that a consistent overview of research performance has become fundamental for the international competitiveness of research institutions and is increasingly important for strategic decisions at the executive level. Ultimately, it also leads to better data and control in rankings at higher education assessments. The new research information system systematically maps all of KIT’s processes and instruments to obtain, connect, present and utilise the research metadata of active researchers. This reduces the documentation workload for researchers, for the executive level and central units such as the library, and at the same time allows for and facilitates an overall view and the aggregation and visualisation of research metadata. Our vision is to build a federally structured network of systems that gathers information on KIT’s publications, research competence, research projects, patents and technological offers by retrieving data from external and internal sources as well as directly from the researchers. The network facilitates linking and aggregating of data and provides unique identifiers for individual researchers and organizational units. With its consistent data model the research information system also fosters the organisational development of KIT, which was formed in 2009 by the merger of a university and a national research centre. The researchers and their activities are at the core of the research information system. The system substantially reduces their administrative burden in documenting project information and publications. Automatic data import from external online sources and repositories has the big advantage that publication data are acquired and validated only once and can be used subsequently for manifold purposes such as websites, CVs, publication lists and reference management software. Due to the complexity of workflows, internal and external sources and the organisational infrastructure that is required for such an implementation, KIT has chosen a commercial software solution (by AVEDAS AG) as the basic installation, and in cooperation with AVEDAS will expand it and adjust it to a tailor-made system that covers the entire KIT publication and research life cycle. The CRIS at KIT is part of a larger integrated and service-oriented approach to information management (Karlsruhe Integrated Information Management - KIM)