Monetary Policy Rules, Adverse Selection and Long-Run Financial Risk

This paper constructs a macro-finance model with two types of borrowers: entrepreneurs who engage in productive activities and gamblers who play in lotteries. It links a central bank's interest rate policy to expected cash ows of both types of borrowers. Via this link we study how the interactions between various shocks and different monetary policy rules affect the quality of the borrower pool faced by financial intermediaries. We find that if the economy is hit by an expansionary monetary policy shock, in the long run the proportion of entrepreneurs in the borrower pool will be persistently lower than the steady state level. This worsening of the borrower pool is more serious if the central bank does not react to output uctuations. By contrast, not reacting to output uctuations in case of a negative productivity shock avoids a persistent worsening of the borrower pool in the long run.Monetary Policy;Adverse Selection;Financial Crisis

Lattice Boltzmann Models for Complex Fluids

We present various Lattice Boltzmann Models which reproduce the effects of rough walls, shear thinning and granular flow. We examine the boundary layers generated by the roughness of the walls. Shear thinning produces plug flow with a sharp density contrast at the boundaries. Density waves are spontaneously generated when the viscosity has a nonlinear dependence on density which characterizes granular flow.Comment: 11 pages, plain TeX, preprint HLRZ 23/9

High performance Beowulf computer for lattice QCD

We describe the construction of a high performance parallel computer composed of PC components, as well as the performance test in lattice QCD.Comment: Lattice 2001 (Algorithms and Machines) 3 page

qqqbar to qqqbar and qqbarqbar to qqbarqbar Elastic Scatterings and Thermalization of Quark Matter and Antiquark Matter

Thermalization of quark matter and antiquark matter is studied with quark-quark-antiquark as well as quark-antiquark-antiquark elastic scatterings. Squared amplitudes of qqqbar to qqqbar and qqbarqbar to qqbarqbar at order alpha_s^4 are derived in perturbative QCD. Solved by a new technique, solutions of transport equations with the squared amplitudes indicate that the scatterings qqqbar to qqqbar and qqbarqbar to qqbarqbar shorten the thermalization time of quark matter and antiquark matter. It is emphasized that three-parton and other multi-parton scatterings become important at the high parton number density achieved in RHIC Au-Au collisions.Comment: 14 pages, 5 figures, Late

Asymmetry of Strange Sea in Nucleons

Based on the finite-temperature field theory, we evaluate the medium effects in nucleon which can induce an asymmetry between quarks and antiquarks of the strange sea. The short-distance effects determined by the weak interaction can give rise to $\delta m\equiv \Delta m_s-\Delta m_{\bar s}$ where $\Delta m_{s(\bar s)}$ is the medium-induced mass of strange quark by a few KeV at most, but the long-distance effects by strong interaction are sizable. Our numerical results show that there exists an obvious mass difference between strange and anti-strange quarks, as large as 10-100 MeV.Comment: 15 latex pages, 3 figures, to appear in PR

Theoretical study of incoherent phi photoproduction on a deuteron target

We study the photoproduction of phi mesons in deuteron, paying attention to the modification of the cross section from bound protons to the free ones with the aim of comparing with recent results at LEPS. For this purpose we take into account Fermi motion in single scattering and rescattering of the phi to account for phi absorption on a second nucleon as well as the rescattering of the proton. We find that the contribution of the double scattering is much smaller than the typical cross section of gamma p to phi p in free space, which implies a very small screening of the phi production in deuteron. The contribution from the proton rescattering, on the other hand, is found to be not negligible compared to the cross section of gamma p to phi p in free space, and leads to a moderate reduction of the phi photoproduction cross section on a deuteron at forward angles if LEPS set up is taken into account. The Fermi motion allows contribution of the single scattering in regions forbidden by phase space in the free case. In particular, we find that for momentum transferred squared close to the maximum value, the Fermi motion changes drastically the shape of d sigma / dt, to the point that the ratio of this cross section to the free one becomes very sensitive to the precise value of t chosen, or the size of the bin used in an experimental analysis. Hence, this particular region of t does not seem the most indicated to find effects of a possible phi absorption in the deuteron. This reaction is studied theoretically as a function of t and the effect of the experimental angular cuts at LEPS is also discussed, providing guidelines for future experimental analyses of the reaction.Comment: 17 pages, 16 figure

Ab-initio study of BaTiO3 surfaces

We have carried out first-principles total-energy calculations of (001) surfaces of the tetragonal and cubic phases of BaTiO3. Both BaO-terminated (type I) and TiO2-terminated (type II) surfaces are considered, and the atomic configurations have been fully relaxed. We found no deep-gap surface states for any of the surfaces, in agreement with previous theoretical studies. However, the gap is reduced for the type-II surface, especially in the cubic phase. The surface relaxation energies are found to be substantial, i.e., many times larger than the bulk ferroelectric well depth. Nevertheless, the influence of the surface upon the ferroelectric order parameter is modest; we find only a small enhancement of the ferroelectricity near the surface.Comment: 8 pages, two-column style with 4 postscript figures embedded. Uses REVTEX and epsf macros. Also available at http://www.physics.rutgers.edu/~dhv/preprints/index.html#pad_sur

Theoretical study of the (3x2) reconstruction of beta-SiC(001)

By means of ab initio molecular dynamics and band structure calculations, as well as using calculated STM images, we have singled out one structural model for the (3x2) reconstruction of the Si-terminated (001) surface of cubic SiC, amongst several proposed in the literature. This is an alternate dimer-row model, with an excess Si coverage of 1/3, yielding STM images in good accord with recent measurements [F.Semond et al. Phys. Rev. Lett. 77, 2013 (1996)].Comment: To be published in PRB Rapid. Com

First-principles study of the polar O-terminated ZnO surface in thermodynamic equilibrium with oxygen and hydrogen

Using density-functional theory in combination with a thermodynamic formalism we calculate the relative stability of various structural models of the polar O-terminated (000-1)-O surface of ZnO. Model surfaces with different concentrations of oxygen vacancies and hydrogen adatoms are considered. Assuming that the surfaces are in thermodynamic equilibrium with an O2 and H2 gas phase we determine a phase diagram of the lowest-energy surface structures. For a wide range of temperatures and pressures we find that hydrogen will be adsorbed at the surface, preferentially with a coverage of 1/2 monolayer. At high temperatures and low pressures the hydrogen can be removed and a structure with 1/4 of the surface oxygen atoms missing becomes the most stable one. The clean, defect-free surface can only exist in an oxygen-rich environment with a very low hydrogen partial pressure. However, since we find that the dissociative adsorption of molecular hydrogen and water (if also the Zn-terminated surface is present) is energetically very preferable, it is very unlikely that a clean, defect-free (000-1)-O surface can be observed in experiment.Comment: 10 pages, 4 postscript figures. Uses REVTEX and epsf macro