2,400 research outputs found
Determinants of the Japan Premium: Actions Speak Louder Than Words
Since August 1995, Japanese banks have had to pay a premium on Eurodollar and Euroyen interbank loans relative to their U.S. and U.K. competitors. This so-called Japan premium' provides a market indicator of investor anxiety about the ability of Japanese banks to repay loans. We examine the determinants of the Japan premium and find that government announcements not associated with concrete actions had little impact. On the other hand, announcements of concrete actions by the Japanese government, such as injections of funds into the banking system, tended to have an effect on the size of the Japan premium.
Physical Properties of Complex C Halo Clouds
Observations from the Galactic Arecibo L-Band Feed Array HI (GALFA-HI) Survey
of the tail of Complex C are presented and the halo clouds associated with this
complex cataloged. The properties of the Complex C clouds are compared to
clouds cataloged at the tail of the Magellanic Stream to provide insight into
the origin and destruction mechanism of Complex C. Magellanic Stream and
Complex C clouds show similarities in their mass distributions (slope = -0.7
and -0.6, respectively) and have a common linewidth of 20 - 30 km/s (indicative
of a warm component), which may indicate a common origin and/or physical
process breaking down the clouds. The clouds cataloged at the tail of Complex C
extend over a mass range of 10^1.1 to 10^4.8 solar masses, sizes of 10^1.2 to
10^2.6 pc, and have a median volume density of 0.065 cm^(-3) and median
pressure of (P/k) = 580 K cm^{-3}. We do not see a prominent two-phase
structure in Complex C, possibly due to its low metallicity and inefficient
cooling compared to other halo clouds. From assuming the Complex C clouds are
in pressure equilibrium with a hot halo medium, we find a median halo density
of 5.8 x 10^(-4) cm^(-3), which given a constant distance of 10 kpc, is at a
z-height of ~3 kpc. Using the same argument for the Stream results in a median
halo density of 8.4 x 10^(-5) x (60kpc/d) cm^(-3). These densities are
consistent with previous observational constraints and cosmological
simulations. We also assess the derived cloud and halo properties with three
dimensional grid simulations of halo HI clouds and find the temperature is
generally consistent within a factor of 1.5 and the volume densities, pressures
and halo densities are consistent within a factor of 3.Comment: Accepted for publication in AJ. 54 pages, including 6 tables and 16
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