An approach for the detection of point-sources in very high resolution microwave maps

This paper deals with the detection problem of extragalactic point-sources in multi-frequency, microwave sky maps that will be obtainable in future cosmic microwave background radiation (CMB) experiments with instruments capable of very high spatial resolution. With spatial resolutions that can be of order of 0.1-1.0 arcsec or better, the extragalactic point-sources will appear isolated. The same holds also for the compact structures due to the Sunyaev-Zeldovich (SZ) effect (both thermal and kinetic). This situation is different from the maps obtainable with instruments as WMAP or PLANCK where, because of the smaller spatial resolution (approximately 5-30 arcmin), the point-sources and the compact structures due to the SZ effect form a uniform noisy background (the "confusion noise"). Hence, the point-source detection techniques developed in the past are based on the assumption that all the emissions that contribute to the microwave background can be modeled with homogeneous and isotropic (often Gaussian) random fields and make use of the corresponding spatial power-spectra. In the case of very high resolution observations such an assumption cannot be adopted since it still holds only for the CMB. Here, we propose an approach based on the assumption that the diffuse emissions that contribute to the microwave background can be locally approximated by two-dimensional low order polynomials. In particular, two sets of numerical techniques are presented containing two different algorithms each. The performance of the algorithms is tested with numerical experiments that mimic the physical scenario expected for high Galactic latitude observations with the Atacama Large Millimeter/Submillimeter Array (ALMA).Comment: Accepted for publication on "Astronomy & Astrophysics". arXiv admin note: substantial text overlap with arXiv:1206.4536 Replaced version is the accepted one and published in A&

Capital requirements and business cycles with credit market imperfections

The business cycle effects of bank capital regulatory regimes are examined in a New Keynesian model with credit market imperfections and a cost channel of monetary policy. Key features of the model are that bank capital increases incentives for banks to monitor borrowers, thereby reducing the probability of default, and excess capital generates benefits in terms of reduced regulatory scrutiny. Basel I and Basel II-type regulatory regimes are defined, and the model is calibrated for a middle-income country. Simulations of supply and demand shocks show that, depending on the elasticity that relates the repayment probability to the capital-loan ratio, a Basel II-type regime may be less procyclical than a Basel I-type regime.Banks&Banking Reform,Debt Markets,Access to Finance,Economic Theory&Research,Emerging Markets