Implications of Bank Regulation for Credit Intermediation and Bank Stability: A Dynamic Perspective

Business cycles imply liquidity risks for banks. This paper explores how these risks influence bank lending over the cycle. With forward-looking banks, lending cycles, credit booms and busts, or suppressed and highly fragile bank systems can emerge, depending on the magnitude of liquidity risks. In this context, regulatory stability-enhancing measures have some unpleasant effects on bank lending. Imposing countercyclical capital adequacy ratio may amplify procyclicality or result in disintermediation, when liquidity risks are only moderate and financial stability is barely a threat. Adopting a regulatory margin call eliminates failures but stops lending for larger liquidity risks whereas a liquidity ratio might be a way to reduce risk-taking without fully hampering credit intermediation

Misuse of Diagnostic Aids in Process Control: The Effects of Automation Misses on Complacency and Automation Bias

Dieser Beitrag ist mit Zustimmung des Rechteinhabers aufgrund einer (DFG geförderten) Allianz- bzw. Nationallizenz frei zugänglich.This publication is with permission of the rights owner freely accessible due to an Alliance licence and a national licence (funded by the DFG, German Research Foundation) respectively.The effects of misses of an automated alarm and fault diagnosis system on different manifestations of automation misuse were examined. 24 participants operated a complex multi-task process control simulation. During training, they either experienced automation misses or were only informed that failures might occur. The experience of misses reduced complacency towards the alarm function of the decision aid as well as omission errors but did neither affect complacency towards the aid's diagnostic function nor commission errors. Implications of this specific effect of automation misses for the design of training measures as well as the theoretical understanding of automation misuse are discussed

Critical adsorption at chemically structured substrates

We consider binary liquid mixtures near their critical consolute points and exposed to geometrically flat but chemically structured substrates. The chemical contrast between the various substrate structures amounts to opposite local preferences for the two species of the binary liquid mixtures. Order parameters profiles are calculated for a chemical step, for a single chemical stripe, and for a periodic stripe pattern. The order parameter distributions exhibit frustration across the chemical steps which heals upon approaching the bulk. The corresponding spatial variation of the order parameter and its dependence on temperature are governed by universal scaling functions which we calculate within mean field theory. These scaling functions also determine the universal behavior of the excess adsorption relative to suitably chosen reference systems

Chemical composition of field grown radish (Raphanus sativus L. var. sativus) as influenced by season and moderately reduced water supply

Seasonal variations in water availability as increasingly provoked by climate change pose severe challenges for vegetable production, particularly for crops requiring reliable and high water supply for achieving satisfactory quality. In contrast to most previous studies applying severe water deficits, we examined the effects of moderate water deficits on the chemical composition of red radish roots during three consecutive years with variable climatic conditions. Radish were cultivated in open field, applying two different water supply treatments and following a randomized block design comprising four sets of six plots each. The resulting water reductions of 3-20 % led to a significant increase of dry matter-based myo-inositol levels, whereas those of selected minerals and trace elements, phenolics and glucosinolates decreased. Anthocyanin levels remained unchanged. Fresh-matter related levels of most analytes increased upon reduced water treatments due to higher dry matter contents. While pigment levels in radish remained unchanged, mild water deficit affected other quality-related parameters such as pungency-related glucosinolates

Signal strength of STING activation determines cytokine plasticity and cell death in human monocytes

The cyclic GMP-AMP synthase (cGAS)/stimulator of interferon genes (STING) pathway is a cytosolic sensor of microbial and host-derived DNA and plays a key role in innate immunity. Activation of STING by cyclic dinucleotide (CDN) ligands in human monocytes induces a type I interferon response and production of pro-inflammatory cytokines associated with the induction of massive cell death. In this study we have re-evaluated the effect of signal strength of STING activation on the cytokine plasticity of human monocytes. CDN (2'3'c-GAMP) and non-CDN (diABZI, MSA-2) STING ligands in the range of EC50 concentrations (15 μM 2'3'c-GAMP, 100 nM diABZI, 25 μM MSA-2) induced IFN-β, IP-10, and large amounts of IL-1β and TNF-α, but no IL-10 or IL-19. Interestingly, LPS-induced production of IL-10 and IL-19 was abolished in the presence of diABZI or MSA-2, whereas IL-1β and TNF-α were not inhibited. Surprisingly, we observed that tenfold lower (MSA-2, i.e. 2.5 μM) or 100-fold lower (diABZI, i.e. 1 nM) concentrations strongly stimulated secretion of anti-inflammatory IL-10 and IL-19, but little of IL-1β and TNF-α. Induction of IL-10 was associated with up-regulation of PRDM1 (Blimp-1). While cytokine secretion stimulated by the higher concentrations was accompanied by apoptosis as shown by cleavage of caspase-3 and PARP-1, the low concentrations did not trigger overt cell death yet induced cleavage of gasdermin-D. Our results reveal a previously unrecognized plasticity of human monocytes in their signal strength-dependent production of pro- versus anti-inflammatory cytokines upon STING activation

Von Neumann equations with time-dependent Hamiltonians and supersymmetric quantum mechanics

Starting with a time-independent Hamiltonian $h$ and an appropriately chosen solution of the von Neumann equation $i\dot\rho(t)=[ h,\rho(t)]$ we construct its binary-Darboux partner $h_1(t)$ and an exact scattering solution of $i\dot\rho_1(t)=[h_1(t),\rho_1(t)]$ where $h_1(t)$ is time-dependent and not isospectral to $h$. The method is analogous to supersymmetric quantum mechanics but is based on a different version of a Darboux transformation. We illustrate the technique by the example where $h$ corresponds to a 1-D harmonic oscillator. The resulting $h_1(t)$ represents a scattering of a soliton-like pulse on a three-level system.Comment: revtex, 3 eps file

New World camelids are sentinels for the presence of Borna disease virus

Borna disease (BD), a frequently fatal neurologic disorder caused by Borna disease virus 1 (BoDV-1), has been observed for decades in horses, sheep, and other mammals in certain regions of Europe. The bicoloured white-toothed shrew (Crocidura leucodon) was identified as a persistently infected species involved in virus transmission. Recently, BoDV-1 attracted attention as a cause of fatal encephalitis in humans. Here, we report investigations on BoDV-1-infected llamas from a farm in a BD endemic area of Switzerland, and alpacas from holdings in a region of Germany where BD was last seen in the 1960s but not thereafter. All New World camelids showed apathy and abnormal behaviour, necessitating euthanasia. Histologically, severe non-suppurative meningoencephalitis with neuronal Joest-Degen inclusion bodies was observed. BoDV-1 was confirmed by immunohistology, RT-qPCR, and sequencing in selected animals. Analysis of the llama herd over 20 years showed that losses due to clinically suspected BD increased within the last decade. BoDV-1 whole-genome sequences from one Swiss llama and one German alpaca and—for comparison—from one Swiss horse and one German shrew were established. They represent the first published whole-genome sequences of BoDV-1 clusters 1B and 3, respectively. Our analysis suggests that New World camelids may have a role as a sentinel species for BoDV-1 infection, even when symptomatic cases are lacking in other animal species.Peer Reviewe

Astroculture – Figurations of Cosmology in Media and Arts

Astroculture is a testament to the literary imagination and theoretical innovation of the late Sonja A.J. Neef, who devised the term as an expanding horizon of collaborative research – into the powerful gravitational force exerted on culture by astronomical phenomena and imagery. It is also the name of a conference on the topic inspired by Neef and held at the Center for Advanced Studies Morphomata at the University of Cologne in November, 2011. Indeed, Astroculture is a perfect instance of a morphome, the overall target of the Cologne College’s ongoing symposia: a persistent trope or topos of cultural fascination and transcription appearing across a gamut of civilizations and historical periods. Commentary in this volume ranges from Claudius Ptolemy’s mapping of the universe and the emergence of a pluralistic cosmology in seventeenth-century Europe to the spread of planetariums, the Whole Earth Catalog, and the contemporary artwork of Ingo Günter. With interventions by David Aubin, Lucía Ayala, Monika Bernold, Dietrich Boschung, Bruce Clarke, Gerd Graßhoff, Hans-Christian von Hermann, Martina Leeker, Patricia Pisters, and Henry Sussman