Confinement, quark mass functions, and spontaneous chiral symmetry breaking in Minkowski space

We formulate the covariant equations for quark-antiquark bound states in Minkowski space in the framework of the Covariant Spectator Theory. The quark propagators are dressed with the same kernel that describes the interaction between different quarks. We show that these equations are charge-conjugation invariant, and that in the chiral limit of vanishing bare quark mass, a massless pseudoscalar bound state is produced in a Nambu-Jona-Lasinio (NJL) mechanism, which is associated with the Goldstone boson of spontaneous chiral symmetry breaking. In this introductory paper, we test the formalism by using a simplified kernel consisting of a momentum-space delta-function with a vector Lorentz structure, to which one adds a mixed scalar and vector confining interaction. The scalar part of the confining interaction is not chirally invariant by itself, but decouples from the equations in the chiral limit and therefore allows the NJL mechanism to work. With this model we calculate the quark mass function, and we compare our Minkowski-space results to lattice QCD data obtained in Euclidean space. In a companion paper, we apply this formalism to a calculation of the pion form factor.Comment: 17 pages, 12 figures, version published in Phys. Rev.

Pion electromagnetic form factor in the Covariant Spectator Theory

The pion electromagnetic form factor at spacelike momentum transfer is calculated in relativistic impulse approximation using the Covariant Spectator Theory. The same dressed quark mass function and the equation for the pion bound-state vertex function as discussed in the companion paper are used for the calculation, together with a dressed quark current that satisfies the Ward-Takahashi identity. The results obtained for the pion form factor are in agreement with experimental data, they exhibit the typical monopole behavior at high-momentum transfer, and they satisfy some remarkable scaling relations.Comment: 11 pages, 8 figures, version published in Phys. Rev.

Application of the Covariant Spectator Theory to the study of heavy and heavy-light mesons

As an application of the Covariant Spectator Theory (CST) we calculate the spectrum of heavy-light and heavy-heavy mesons using covariant versions of a linear confining potential, a one- gluon exchange, and a constant interaction. The CST equations possess the correct one-body limit and are therefore well-suited to describe mesons in which one quark is much heavier than the other. We find a good fit to the mass spectrum of heavy-light and heavy-heavy mesons with just three parameters (apart from the quark masses). Remarkably, the fit parameters are nearly unchanged when we fit to experimental pseudoscalar states only or to the whole spectrum. Because pseudoscalar states are insensitive to spin-orbit interactions and do not determine spin-spin interactions separately from central interactions, this result suggests that it is the covariance of the kernel that correctly predicts the spin-dependent quark-antiquark interaction

Pricing tranched credit products with generalized multifactor models

The market for tranched credit products (CDOs, Itraxx tranches) is one of the fastest growing segments in the credit derivatives industry. However, some assumptions underlying the standard Gaussian onefactor pricing model (homogeneity, single factor, Normality), which is the pricing standard widely used in the industry, are probably too restrictive. In this paper we generalize the standard model by means of a two by two model (two factors and two asset classes). We assume two driving factors (business cycle and industry) with independent tStudent distributions, respectively, and we allow the model to distinguish among portfolio assets classes. In order to illustrate the estimation of the parameters of the model, an empirical application with Moody's data is also included

A covariant constituent-quark formalism for mesons

Using the framework of the Covariant Spectator Theory (CST) [1] we are developing a covariant model formulated in Minkowski space to study mesonic structure and spectra. Treating mesons as effective $q\bar{q}$ states, we focused in [2] on the nonrelativistic bound-state problem in momentum space with a linear confining potential. Although integrable, this kernel has singularities which are difficult to handle numerically. In [2] we reformulate it into a form in which all singularities are explicitely removed. The resulting equations are then easier to solve and yield accurate and stable solutions. In the present work, the same method is applied to the relativistic case, improving upon the results of the one-channel spectator equation (1CSE) given in [3].Comment: 6 pages, 5 figures, Presented at EEF70, Workshop on Unquenched Hadron Spectroscopy: Non-Perturbative Models and Methods of QCD vs. Experimen

Singularity-free two-body equation with confining interactions in momentum space

We are developing a covariant model for all mesons that can be described as quark-antiquark bound states in the framework of the Covariant Spectator Theory (CST) in Minkowski space. The kernel of the bound-state equation contains a relativistic generalization of a linear confining potential which is singular in momentum space and makes its numerical solution more difficult. The same type of singularity is present in the momentum-space Schr\"odinger equation, which is obtained in the nonrelativistic limit. We present an alternative, singularity-free form of the momentum-space Schr\"odinger equation which is much easier to solve numerically and which yields accurate and stable results. The same method will be applied to the numerical solution of the CST bound-state equations.Comment: 4 pages, 2 figures, talk presented at the 22nd European Conference on Few-Body Problems in Physics (EFB22), Krakow, Poland, 9 - 13 September 201