Underpriced Default Spread Exacerbates Market Crashes

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

An explosively driven, fast shock tube

A simple, cylindrically configured fast shock tube (FST) has been employed as a tool to investigate the hydrodynamics of plate drive under a very high impulse-loading condition. The shock tube has a high-explosive outer shell and a low-density foam core. The implosion produces a well-defined Mach disk that is then subsequently used to drive a metallic plate. A thin stainless steel (SS) plate has been successfully launched to 9 km/s with this device. The experimental results from the study of material flow will be presented and compared with numerical calculation. Various interesting measurement techniques will also be discussed

Effect of intracameral injection of fibrin tissue sealant on the rabbit anterior segment

Molecular Vision161087-1097MVEP

Analysis of conjunctival fibroblasts from a proband with Schnyder corneal dystrophy

Molecular Vision141277-128

S100A expression in normal corneal-limbal epithelial cells and ocular surface squamous cell carcinoma tissue

Molecular Vision172263-2271MVEP

Nonlinear Optical Properties Of GeSbS Chalcogenide Waveguides

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

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

We have investigated the time-modulated coherent quantum transport phenomena in a ballistic open quantum dot. The conductance $G$ 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 $G$ are their signatures. Our results show structures due to 2$\hbar\omega$ 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

Measurements of the $pp \to pK^+\Lambda$ reaction at $T_p$ = 2.28 GeV have been carried out at COSY-TOF. In addition to the $\Lambda p$ FSI and $N^*$ resonance excitation effects a pronounced narrow structure is observed in the Dalitz plot and in its projection on the $p\Lambda$-invariant mass. The structure appears at the $pp \to$N$K^+\Sigma$ threshold and is interpreted as $\Sigma$N cusp effect. The observed width of 20 MeV/$c^2$ 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 $pK^+\Lambda$ channel, but similar to those observed in the $pK^+\Sigma^0$ channel