Smale flows on S2×S1\mathbb{S}^2\times\mathbb{S}^1

In this paper, we use abstract Lyapunov graphs as a combinatorial tool to obtain a complete classification of Smale flows on $\mathbb{S}^2\times\mathbb{S}^1$. This classification gives necessary and sufficient conditions that must be satisfied by an abstract Lyapunov graph in order for it to be associated to a Smale flow on $\mathbb{S}^2\times\mathbb{S}^1$

Are Public Banks pro-Competitive? Evidence from Concentrated Local Markets in Brazil

We measure the competitive effect of public ownership of banks in concentrated local banking markets in Brazil by extending Bresnahan and Reiss’s [1991] framework to measure the effects of entry in concentrated markets. We use variation in market size, the number of competitors and their identity to infer how conduct is affected by the entry of a private vis-à-vis a public bank. We find that, while local markets whose structure is private bank duopoly are 100% larger than private monopolies, duopolies with one public and one private bank and private monopolies are no different with respect to market size. These results suggest that, while the presence of private banks toughens competition, public banks do not affect conduct.banking industry; public versus private ownership; effect of entry.

Spectral Engineering with Coupled Microcavities: Active Control of Resonant Mode-Splitting

Optical mode-splitting is an efficient tool to shape and fine-tune the spectral response of resonant nanophotonic devices. The active control of mode-splitting, however, is either small or accompanied by undesired resonance shifts, often much larger than the resonance-splitting. We report a control mechanism that enables reconfigurable and widely tunable mode-splitting while efficiently mitigating undesired resonance shifts. This is achieved by actively controlling the excitation of counter-traveling modes in coupled resonators. The transition from a large splitting (80 GHz) to a single-notch resonance is demonstrated using low power microheaters (35 mW). We show that the spurious resonance-shift in our device is only limited by thermal crosstalk and resonance-shift-free splitting control may be achieved.Comment: 4 pages, 3 figure