1,716 research outputs found
Post-resolution treatment of depositors at failed banks: implications for the severity of banking crises, systemic risk, and too-big-to-fail
Bank failures are widely viewed in all countries as more damaging to the economy than the failure of other firms of similar size for a number of reasons. The failures may produce losses to depositors and other creditors, break long-standing bank-customers loan relationships, disrupt the payments system, and spillover in domino fashion to other banks, financial institutions and markets, and even to the macroeconomy (Kaufman, 1996). Thus, bank failures are viewed as potentially more likely to involve contagion or systemic risk than the collapse of other firms. The risk of such actual or perceived damage is often a popular justification for explicit or implicit government-provided or sponsored safety nets under banks, including explicit deposit insurance and implicit government guarantees, such as "too-big-to-fail" (TBTF), that may protect de jure uninsured depositors and possibly other bank stakeholders against some or all of the loss.Bank failures ; Deposit insurance
Chaos, Coherence and the Double-Slit Experiment
We investigate the influence that classical dynamics has on interference
patterns in coherence experiments. We calculate the time-integrated probability
current through an absorbing screen and the conductance through a doubly
connected ballistic cavity, both in an Aharonov-Bohm geometry with forward
scattering only. We show how interference fringes in the probability current
generically disappear in the case of a chaotic system with small openings, and
how they may persist in the case of an integrable cavity. Simultaneously, the
typical, sample dependent amplitude of the flux-sensitive part of the
conductance survives in all cases, and becomes universal in the case of a
chaotic cavity. In presence of dephasing by fluctuations of the electric
potential in one arm of the Aharonov-Bohm loop, we find an exponential damping
of the flux-dependent part of the conductance, , in term of the traversal time through the arm
and the dephasing time . This extends previous works on dephasing in
ballistic systems to the case of many conducting channels.Comment: 8 pages, 4 figures in .eps format; Final version, to appear in
Physical Review
DNA as a universal substrate for chemical kinetics
Molecular programming aims to systematically engineer molecular and chemical systems of autonomous function and ever-increasing complexity. A key goal is to develop embedded control circuitry within a chemical system to direct molecular events. Here we show that systems of DNA molecules can be constructed that closely approximate the dynamic behavior of arbitrary systems of coupled chemical reactions. By using strand displacement reactions as a primitive, we construct reaction cascades with effectively unimolecular and bimolecular kinetics. Our construction allows individual reactions to be coupled in arbitrary ways such that reactants can participate in multiple reactions simultaneously, reproducing the desired dynamical properties. Thus arbitrary systems of chemical equations can be compiled into real chemical systems. We illustrate our method on the Lotka–Volterra oscillator, a limit-cycle oscillator, a chaotic system, and systems implementing feedback digital logic and algorithmic behavior
Scalable, Time-Responsive, Digital, Energy-Efficient Molecular Circuits using DNA Strand Displacement
We propose a novel theoretical biomolecular design to implement any Boolean
circuit using the mechanism of DNA strand displacement. The design is scalable:
all species of DNA strands can in principle be mixed and prepared in a single
test tube, rather than requiring separate purification of each species, which
is a barrier to large-scale synthesis. The design is time-responsive: the
concentration of output species changes in response to the concentration of
input species, so that time-varying inputs may be continuously processed. The
design is digital: Boolean values of wires in the circuit are represented as
high or low concentrations of certain species, and we show how to construct a
single-input, single-output signal restoration gate that amplifies the
difference between high and low, which can be distributed to each wire in the
circuit to overcome signal degradation. This means we can achieve a digital
abstraction of the analog values of concentrations. Finally, the design is
energy-efficient: if input species are specified ideally (meaning absolutely 0
concentration of unwanted species), then output species converge to their ideal
concentrations at steady-state, and the system at steady-state is in (dynamic)
equilibrium, meaning that no energy is consumed by irreversible reactions until
the input again changes.
Drawbacks of our design include the following. If input is provided
non-ideally (small positive concentration of unwanted species), then energy
must be continually expended to maintain correct output concentrations even at
steady-state. In addition, our fuel species - those species that are
permanently consumed in irreversible reactions - are not "generic"; each gate
in the circuit is powered by its own specific type of fuel species. Hence
different circuits must be powered by different types of fuel. Finally, we
require input to be given according to the dual-rail convention, so that an
input of 0 is specified not only by the absence of a certain species, but by
the presence of another. That is, we do not construct a "true NOT gate" that
sets its output to high concentration if and only if its input's concentration
is low. It remains an open problem to design scalable, time-responsive,
digital, energy-efficient molecular circuits that additionally solve one of
these problems, or to prove that some subset of their resolutions are mutually
incompatible.Comment: version 2: the paper itself is unchanged from version 1, but the
arXiv software stripped some asterisk characters out of the abstract whose
purpose was to highlight words. These characters have been replaced with
underscores in version 2. The arXiv software also removed the second
paragraph of the abstract, which has been (attempted to be) re-inserted.
Also, although the secondary subject is "Soft Condensed Matter", this
classification was chosen by the arXiv moderators after submission, not
chosen by the authors. The authors consider this submission to be a
theoretical computer science paper
Recommended from our members
A reassessment of Antarctic plateau reactive nitrogen based on ANTCI 2003 airborne and ground based measurements
The first airborne measurements of nitric oxide (NO) on the Antarctic plateau have demonstrated that the previously reported elevated levels of this species extend well beyond the immediate vicinity of South Pole. Although the current database is still relatively weak and critical laboratory experiments are still needed, the findings here suggest that the chemical uniqueness of the plateau may be substantially greater than first reported. For example, South Pole ground-based findings have provided new evidence showing that the dominant process driving the release of nitrogen from the snowpack during the spring/summer season (post-depositional loss) is photochemical in nature with evaporative processes playing a lesser role. There is also new evidence suggesting that nitrogen, in the form of nitrate, may undergo multiple recycling within a given photochemical season. Speculation here is that this may be a unique property of the plateau and much related to its having persistent cold temperatures even during summer. These conditions promote the efficient adsorption of molecules like HNO3 (and very likely HO2NO2) onto snow-pack surface ice where we have hypothesized enhanced photochemical processing can occur, leading to the efficient release of NOx to the atmosphere. In addition, to these process-oriented tentative conclusions, the findings from the airborne studies, in conjunction with modeling exercises suggest a new paradigm for the plateau atmosphere. The near-surface atmosphere over this massive region can be viewed as serving as much more than a temporary reservoir or holding tank for imported chemical species. It defines an immense atmospheric chemical reactor which is capable of modifying the chemical characteristics of select atmospheric constituents. This reactor has most likely been in place over geological time, and may have led to the chemical modulation of some trace species now found in ice cores. Reactive nitrogen has played a critical role in both establishing and in maintaining this reactor. © 2007 Elsevier Ltd. All rights reserved
Recommended from our members
Development of the Mozart Song
This paper explores the lesser known songs Wolfgang Mozart composed for voice and keyboard and examines developments in harmony, melody, and style. Timothy G. Seelig traces the history of these songs, their structure and interpretation, and promotes study of the pieces
Interaction-induced dephasing of Aharonov-Bohm oscillations
We study the effect of the electron-electron interaction on the amplitude of
mesoscopic Aharonov-Bohm oscillations in quasi-one-dimensional (Q1D) diffusive
rings. We show that the dephasing length L_phi^AB governing the damping factor
exp(-2piR / L_phi^AB) of the oscillations is parametrically different from the
common dephasing length for the Q1D geometry. This is due to the fact that the
dephasing is governed by energy transfers determined by the ring circumference
2piR, making L_phi^AB R-dependent.Comment: 4 pages, 2 figures. Minor changes, final version published in PR
Probe-Configuration-Dependent Decoherence in an Aharonov-Bohm Ring
We have measured transport through mesoscopic Aharonov-Bohm (AB) rings with
two different four-terminal configurations. While the amplitude and the phase
of the AB oscillations are well explained within the framework of the
Landaur-B\"uttiker formalism, it is found that the probe configuration strongly
affects the coherence time of the electrons, i.e., the decoherence is much
reduced in the configuration of so-called nonlocal resistance. This result
should provide an important clue in clarifying the mechanism of quantum
decoherence in solids.Comment: 4 pages, 4 figures, RevTe
Recommended from our members
The stratorotational instability of Taylor-Couette flows with moderate Reynolds numbers
In view of new experimental data the instability against adiabatic nonaxisymmetric perturbations of a Taylor-Couette flow with an axial density stratification is considered in dependence of the Reynolds number (Re) of rotation and the Brunt-Väisälä number (Rn) of the stratification. The flows at and beyond the Rayleigh limit become unstable between a lower and an upper Reynolds number (for fixed Rn). The rotation can thus be too slow or too fast for the stratorotational instability. The upper Reynolds number above which the instability decays, has its maximum value for the potential flow (driven by cylinders rotating according to the Rayleigh limit) and decreases strongly for flatter rotation profiles finally leaving only isolated islands of instability in the (Rn/Re) map. The maximal possible rotation ratio μmax only slightly exceeds the shear value of the quasi-uniform flow with Uφ≃const. Along and between the lines of neutral stability the wave numbers of the instability patterns for all rotation laws beyond the Rayleigh limit are mainly determined by the Froude number Fr which is defined by the ratio between Re and Rn. The cells are highly prolate for Fr > 1 so that measurements for too high Reynolds numbers become difficult for axially bounded containers. The instability patterns migrate azimuthally slightly faster than the outer cylinder rotates
- …