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Systemic risk determinants in the European banking industry during financial crises, 2006-2012
The recent financial turmoil has stimulated a rich debate in banking and financial literature on the identification of systemic risk determinants and devices to forecast and prevent crises. This paper explores the contribution of corporate variables to systemic risk using the CoVaR approach (Adrian and Brunnermeier, 2016). Using balanced panel data on 141 European banks from 24 countries, which were listed from 2006Q1 to 2012Q4, we investigated the impact of corporate variables during the three regimes that characterised the European banking sector-the subprime crisis (2007Q3-2008Q3), the European Great Financial Depression (2008Q4-2010Q2), and the sovereign debt crisis (2010Q3-2012Q4). Our results show that size did not play a significant role in spreading systemic risk, while maturity mismatch did. However, the nature and intensity of these two determinants varied across the three regimes
Shot noise in resonant tunneling structures
We propose a quantum mechanical approach to noise in resonant tunneling
structures, that can be applied in the whole range of transport regimes, from
completely coherent to completely incoherent. In both limiting cases, well
known results which have appeared in the literature are recovered. Shot noise
reduction due to both Pauli exclusion and Coulomb repulsion, and their combined
effect, are studied as a function of the rate of incoherent processes in the
well (which are taken into account by means of a phenomenological relaxation
time), and of temperature. Our approach allows the study of noise in a variety
of operating conditions (i.e., equilibrium, sub-peak voltages, second resonance
voltages), and as a function of temperature, explaining experimental results
and predicting interesting new results.Comment: RevTeX file, 26 pages, 3 Postscript figures, uses epsf.sty. submitted
to Phys. Rev.
Non Markovian Quantum Repeated Interactions and Measurements
A non-Markovian model of quantum repeated interactions between a small
quantum system and an infinite chain of quantum systems is presented. By
adapting and applying usual pro jection operator techniques in this context,
discrete versions of the integro-differential and time-convolutioness Master
equations for the reduced system are derived. Next, an intuitive and rigorous
description of the indirect quantum measurement principle is developed and a
discrete non Markovian stochastic Master equation for the open system is
obtained. Finally, the question of unravelling in a particular model of
non-Markovian quantum interactions is discussed.Comment: 22 page
Effects of tidal interactions on the gas flows of elliptical galaxies
During a Hubble time, cluster galaxies may undergo several mutual encounters
close enough to gravitationally perturb their hot, X-ray emitting gas flows. We
ran several 2D, time dependent hydrodynamical models to investigate the effects
of such perturbations on the gas flow inside elliptical galaxies. In
particular, we studied in detail the modifications occurring in the scenario
proposed by D'Ercole et al. (1989), in which the galactic interstellar medium
produced by the aging galactic stellar population, is heated by SNIa at a
decreasing rate. We find that, although the tidal interaction in our models
lasts less than 1 Gyr, its effect extends over several Gyrs. The tidally
induced turbulent flows create dense filaments which cool quickly and accrete
onto the galactic center, producing large spikes in the global Lx. Once this
mechanism starts, it is fed by gravity and amplified by SNIa. In cooling flow
models without supernovae the amplitude of the Lx fluctuations due to the tidal
interaction is substantially reduced. We conclude that, if SNIa significantly
contribute to the energetics of the gas flows in ellipticals, then the observed
spread in the Lx-Lb diagram may be caused, at least in part, by this mechanism.
On the contrary, tidal interactions cannot be responsible for the observed
spread if the pure cooling flow scenario applies (abridged).Comment: 21 pages, 8 figures, to be published in ApJ (main journal
DEVELOPMENT AND VALIDATION OF A SYSTEM FOR POLING FORCE MEASUREMENT IN CROSS-COUNTRY SKIING AND NORDIC WALKING
The purpose of this study was to describe and validate a force transducer system specifically designed to measure the force exerted through the poles in cross-country skiing and Nordic walking. It is constituted by a custom built load cell and by a mounting system that allow to minimise cross talk effects. The system is applicable to standard carbon racing shafts to ensure the standard stiffness of the pole. The reliability of the system has been tested performing different static and dynamic tests. The comparison with the reference load cell has shown a good measurement linearity in the range of typical values for poling propulsion and a sensitivity only to the force axially applied to the shaft. The test performed on a 2D platform and with a motion capture system for the measurement of pole inclination, demonstrated the possibility to obtain a reliable measure of the vertical, longitudinal and lateral components of the force exerted by the subject. The accuracy, the portability of the system and their applicability to different shafts allow evaluation of poling action in both laboratory and field conditions, providing important information in cross-country skiing and Nordic walking biomechanical research
Abundances of s-process elements in planetary nebulae: Br, Kr & Xe
We identify emission lines of post-iron peak elements in very high
signal-to-noise spectra of a sample of planetary nebulae. Analysis of lines
from ions of Kr and Xe reveals enhancements in most of the PNe, in agreement
with the theories of s-process in AGB star. Surprisingly, we did not detect
lines from Br even though s-process calculations indicate that it should be
produced with Kr at detectable levels.Comment: 2 pages, 1 figure, to be published in the Proceedings of the IAU
Symposium 234: Planetary Nebulae in Our Galaxy and Beyond, eds. M.J. Barlow,
R.H. Mende
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