Motivic complexes over finite fields and the ring of correspondences at the generic point

Already in the 1960s Grothendieck understood that one could obtain an almost entirely satisfactory theory of motives over a finite field when one assumes the full Tate conjecture. In this note we prove a similar result for motivic complexes. In particular Beilinson's Q-algebra of "correspondences at the generic point" is then defined for all connected varieties. We compute this for all smooth projective varieties (hence also for varieties birational to such a variety)

Anomalous lateral diffusion in a viscous membrane surrounded by viscoelastic media

We investigate the lateral dynamics in a purely viscous lipid membrane surrounded by viscoelastic media such as polymeric solutions. We first obtain the generalized frequency-dependent mobility tensor and focus on the case when the solvent is sandwiched by hard walls. Due to the viscoelasticity of the solvent, the mean square displacement of a disk embedded in the membrane exhibits an anomalous diffusion. An useful relation which connects the mean square displacement and the solvent modulus is provided. We also calculate the cross-correlation of the particle displacements which can be applied for two-particle tracking experiments.Comment: 6 pages, 2 figure

Human Development Index for rural Andhra Pradesh

The method used to measure Human Development are reviewed in order to measure Human Development Index for rural AP by considering indicators such as economic attainment, longevity and education. Using UNDP method to estimate Human Development Index, which is predominantly normative approach to club different indicators by giving weights. The estimates are worked out with and without considering inequalities in economic attainment indicator. IAMR survey data for year 2001 is used for this study. However, for making comparison over time, data and analysis undertaken in other study is also used. In other methods, primarily for the analysis of data for year 2001, inequalities in all indicators were taken into consideration to measure Human Development using both UNDP and Principal Component Analysis. The comparison of results show that there has been only marginal improvement in Human development during the 1990s in rural AP considering only inequality in economic indicator using UNDP method. However, the results may differ significantly in case inequalities in all the variables are taken into account and depending upon the methodology used as is demonstrated by analysis of data for year 2001. But unfortunately comparison of analysis over time using the modified approach was not possible due to lack of detailed data for other years.Human Development

Systemic Financial Distress and Auction-Based Bankruptcy Reorganization

Financial reorganization under bankruptcy reduces a firm's debts to a serviceable level through negotiations overseen by courts. Markets have been suggested as an alternative to such negotiations, recognizing that equity holders and junior claimants have call options to buy the firm back from senior creditors. This paper further develops this market-based approach when claimants are severely cash-constrained and there is merit in having existing owners-managers remain in control. The scheme arranges creditors in a queue to be serviced in sequence from the firm's operating cash flows. Creditors bid for their position in this queue, and those accepting a greater proportionate reduction in the face value of their claims (perhaps those most pessimistic about the firm's prospects) are placed ahead of the others. A pre-existing hierarchy of claims is honored by having claimants bid for their positions within the relevant segment of the queue. No one in the queue (including owners who are last) is paid anything until the (reduced) debts of the first in line are fully discharged using the firm's operating cash surpluses. The queue then moves up and the next claimant in line is serviced. The paper shows that, in equilibrium, the aggregate debts of the firm are reduced to a level that is more serviceable and that provides the owner-manager with a positive expected residual return. We discuss the appropriateness of this scheme to situations of systemic financial distress, including the East Asian crisis.

Bankruptcy reorganization through markets : Auction-based Creditor Ordering by Reducing Debts (ACCORD)

The authors further develop such a market-based approach for situations in which claimants are severely cash-constrained and there is good reason for existing owner-managers to remain in control. Under the ACCORD scheme-Auction-based Creditor Ordering by Reducing Debts-creditors remain creditors but form a queue, to be serviced in sequence from the firm's operating cash flows. Creditors bid for their position in this queue. Those accepting greater proportionate reductions in the face value of their claims (perhaps most pessimistic about the firm's prospects) are placed ahead of theothers. A preexisting hierarchy of claims is honored by having claimants bid for their positions within the relevant segment of the queue. No one in the queue, including owners (whoa re last), is paid anything until the (reduced) debts of the first in line are fully discharged. The queue then moves up and the next claimant in line is serviced. Deferred creditors, who must wait their turn for the firm's operating cash surpluses, are not junior creditors in the conventional sense. The authors determine equilibrium bidding strategies, showing that the firm's aggregate debts would be reduced to a more serviceable level. This would improve the incentives of the firm's owner-managers, who remain in control, to operate the firm efficiently. Economic resources would thus be better used, and losses already incurred would be efficiently and quickly allocated among creditors. The authors suggest that ACCORD would be appropriate for East Asia, where, despite new bankruptcy laws, inexperienced courts are unlikely to nudge creditors into a quick negotiated agreement nor to be able to cope with systemic bankruptcy. Moreover, when the government is a major unsatisfied creditor, whose agents may not act in the taxpayers'best interests, market-based solutions might remove political interference from restructuring decisions. Neither owners nor creditors would be worse off than they are now.Strategic Debt Management,Banks&Banking Reform,Payment Systems&Infrastructure,International Terrorism&Counterterrorism,Economic Theory&Research,International Terrorism&Counterterrorism,Strategic Debt Management,Banks&Banking Reform,Economic Theory&Research,Housing Finance

Human Development Index for Rural Andhra Pradesh

The method used to measure Human Development are reviewed in order to measure Human Development Index for rural AP by considering indicators such as economic attainment, longevity and education. Using UNDP method to estimate Human Development Index, which is predominantly normative approach to club different indicators by giving weights. The estimates are worked out with and without considering inequalities in economic attainment indicator. IAMR survey data for year 2001 is used for this study. However, for making comparison over time, data and analysis undertaken in other study is also used. In other methods, primarily for the analysis of data for year 2001, inequalities in all indicators were taken into consideration to measure Human Development using both UNDP and Principal Component Analysis. The comparison of results show that there has been only marginal improvement in Human development during the 1990s in rural AP considering only inequality in economic indicator using UNDP method. However, the results may differ significantly in case inequalities in all the variables are taken into account and depending upon the methodology used as is demonstrated by analysis of data for year 2001. But unfortunately comparison of analysis over time using the modified approach was not possible due to lack of detailed data for other years.Human Development, Principal Component Analysis, UNDP, Andhra Pradesh