892 research outputs found

    Underpriced Default Spread Exacerbates Market Crashes

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    In this paper, we develop a specific observable symptom of a banking system that underprices the default spread in non-recourse asset-backed lending. Using three different data sets for 18 countries and property types, we find that, following a negative demand shock, the underpricing economies experience far deeper asset market crashes than economies in which the put option is correctly priced. Furthermore, only one of the countries in our sample continues to exhibit the underpricing symptom following a market crash. This indicates that market crashes have a cleansing effect and eliminate underpricing at least for a period of time. This makes investing in such markets safer following a negative demand shock.real estate bubble, lender optimism, disaster myopia, Asian financial crisis

    Nonlinear Optical Properties Of GeSbS Chalcogenide Waveguides

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    We characterize the nonlinear optical properties of GeSbS chalcogenide glasses with fiber-based experiments. A waveguide nonlinear parameter of 7 W-1/m and nonlinear refractive index of 3.71 x 10-18 m2/W are estimated by self-phase modulation. A GeSbS waveguide could also generate a supercontinuum from 1280 to 2120 nm at the -30 dB level for maximum coupled power of 340 W, showing a 14-fold spectral broadening of the input spectrum explained by cascaded stimulated Raman scattering

    Coulomb correlations effects on localized charge relaxation in the coupled quantum dots

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    We analyzed localized charge time evolution in the system of two interacting quantum dots (QD) (artificial molecule) coupled with the continuous spectrum states. We demonstrated that Coulomb interaction modifies relaxation rates and is responsible for non-monotonic time evolution of the localized charge. We suggested new mechanism of this non-monotonic charge time evolution connected with charge redistribution between different relaxation channels in each QD.Comment: 10 pages, 10 figure

    Transport spectroscopy in a time-modulated open quantum dot

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    We have investigated the time-modulated coherent quantum transport phenomena in a ballistic open quantum dot. The conductance GG and the electron dwell time in the dots are calculated by a time-dependent mode-matching method. Under high-frequency modulation, the traversing electrons are found to exhibit three types of resonant scatterings. They are intersideband scatterings: into quasibound states in the dots, into true bound states in the dots, and into quasibound states just beneath the subband threshold in the leads. Dip structures or fano structures in GG are their signatures. Our results show structures due to 2ω\hbar\omega intersideband processes. At the above scattering resonances, we have estimated, according to our dwell time calculation, the number of round-trip scatterings that the traversing electrons undertake between the two dot openings.Comment: 8 pages, 5 figure

    On the SigmaN cusp in the pp -> pK+Lambda reaction

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    Measurements of the pppK+Λpp \to pK^+\Lambda reaction at TpT_p = 2.28 GeV have been carried out at COSY-TOF. In addition to the Λp\Lambda p FSI and NN^* resonance excitation effects a pronounced narrow structure is observed in the Dalitz plot and in its projection on the pΛp\Lambda-invariant mass. The structure appears at the pppp \to NK+ΣK^+\Sigma threshold and is interpreted as Σ\SigmaN cusp effect. The observed width of 20 MeV/c2c^2 is substantially broader than anticipated from previous inclusive measurements. Angular distributions of this cusp structure are shown to be dissimilar to those in the residual pK+ΛpK^+\Lambda channel, but similar to those observed in the pK+Σ0pK^+\Sigma^0 channel
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