7,653 research outputs found
Bank Insolvencies, Regulatory Forbearance and Ambiguity
Banking regulators often practice forbearance and ambiguity in insolvency resolutions. The paper examines the effects of regulatory forbearance and ambiguity in a context of allocational efficiency. Bailouts, liquidations and their stochastic policy mix lead to suboptimal allocations if banks do not internalize insolvency costs. The policy of forbearance may make banks internalizing such costs and improves the efficiency of intermediation.Banks, insolvency resolution, forbearance, constructive ambiguity
Macroeconomic Evolution after a Production Shock: the Role for Financial Intermediation
Financial intermediaries may increase economic efficiency through intertemporal risk smoothing. However without an adequate regulation, intermediation may fail to do this. This paper studies the effects of a production shock in a closed economy and compares abilities of market-based and bank-based financial systems in processing the shock. Unregulated banking system may collapse in absence of a proper regulation. The paper studies several types of regulatory interventions, which may improve the performance of the banking system.Financial intermediation, overlapping generations, general equilibrium, intertemporal smoothing
Longitudinal Hadronic Shower Development in a Combined Calorimeter
This work is devoted to the experimental study of the longitudinal hadronic
shower development in the ATLAS barrel combined prototype calorimeter
consisting of the lead-liquid argon electromagnetic part and the
iron-scintillator hadronic part. The results have been obtained on the basis of
the 1996 combined test beam data which have been taken on the H8 beam of the
CERN SPS, with the pion beams of 10, 20, 40, 50, 80, 100, 150 and 300 GeV/c.
The degree of description of generally accepted Bock parameterization of the
longitudinal shower development has been investigated. It is shown that this
parameterization does not give satisfactory description for this combined
calorimeter. Some modification of this parameterization, in which the e/h
ratios of the compartments of the combined calorimeter are used, is suggested
and compared with the experimental data. The agreement between such
parameterization and the experimental data is demonstrated.Comment: Latex, 21 pages, 10 figure
Analytical Representation of the Longitudinal Hadronic Shower Development
The analytical representation of the longitudinal hadronic shower development
from the face of a calorimeter is presented and compared with experimental
data. The suggested formula is particularly useful at designing, testing and
calibration of huge calorimeter complex like in ATLAS at LHC.Comment: 5 pages, 1 figur
Non-Compensation of the Barrel Tile Hadron Module-0 Calorimeter
The detailed experimental information about the electron and pion responses,
the electron energy resolution and the e/h ratio as a function of incident
energy E, impact point Z and incidence angle of the Module-0 of the
iron-scintillator barrel hadron calorimeter with the longitudinal tile
configuration is presented. The results are based on the electron and pion
beams data for E = 10, 20, 60, 80, 100 and 180 GeV at = -0.25 and -0.55,
which have been obtained during the test beam period in 1996. The results are
compared with the existing experimental data of TILECAL 1m prototype modules,
various iron-scintillator calorimeters and with some Monte Carlo calculations.Comment: 33 pages, 20 figure
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