Bank liquidity and financial stability.

Fluctuations in investor risk aversion are often cited as a factor explaining crises on financial markets. The alternation between periods of bullishness prompting investors to make risky investments, and periods of bearishness, when they retreat to the safest forms of investments, could be at the root of sharp fluctuations in asset prices. One problem in the assessment of these different periods is clearly distinguishing the risk perceived by agents from risk aversion itself. There are several types of risk aversion indicators used by financial institutions (the VIX, the LCVI, the GRAI, etc.). These indices, which are estimated in diverse ways, often show differing developments, although it is not possible to directly assess which is the most accurate. An interesting method in this respect is to link the indicators to financial crises. In principle, financial crises should coincide with periods in which risk aversion increases. Here we estimate probabilities of financial crises –currency and stock market crises– using the different risk aversion indicators as explanatory variables. This allows us to assess their respective predictive powers. The tests carried out show that risk aversion does tend to increase before crises, at least when it is measured by the most relevant indices. This variable is a good leading indicator of stock market crises, but is less so for currency crises.

Quasiparticle Liquid in the Highly Overdoped Bi2212

We present results from the study of a highly overdoped (OD) Bi2212 with a $T_{c}=51$K using high resolution angle-resolved photoemission spectroscopy. The temperature dependent spectra near the ($\pi,0$) point show the presence of the sharp peak well above $T_{c}$. From the nodal direction, we make comparison of the self-energy with the optimally doped and underdoped cuprates, and the Mo(110) surface state. We show that this OD cuprate appears to have properties that approach that of the Mo. Further analysis shows that the OD has a more $k$-independent lineshape at the Fermi surface than the lower-doped cuprates. This allows for a realistic comparison of the nodal lifetime values to the experimental resistivity measurements via Boltzmann transport formulation. All these observations point to the validity of the quasiparticle picture for the OD even in the normal state within a certain energy and momentum range.Comment: 4 pages, 4 figure

Fine Details of the Nodal Electronic Excitations in Bi2_2Sr2_2CaCu2_2O8+δ_{8+\delta}

Very high energy resolution photoemission experiments on high quality samples of optimally doped Bi$_2$Sr$_2$CaCu$_2$O$_{8+\delta}$ show new features in the low-energy electronic excitations. A marked change in the binding energy and temperature dependence of the near-nodal scattering rates is observed near the superconducting transition temperature, $T_C$. The temperature slope of the scattering rate measured at low energy shows a discontinuity at ~$T_C$. In the superconducting state, coherent excitations are found with the scattering rates showing a cubic dependence on frequency and temperature. The superconducting gap has a d-wave magnitude with negligible contribution from higher harmonics. Further, the bi-layer splitting has been found to be finite at the nodal point.Comment: 5 pages, 4 figure

Quasiparticle Interference on the Surface of Topological Crystalline Insulator Pb(1-x)Sn(x)Se

Topological crystalline insulators represent a novel topological phase of matter in which the surface states are protected by discrete point group-symmetries of the underlying lattice. Rock-salt lead-tin-selenide alloy is one possible realization of this phase which undergoes a topological phase transition upon changing the lead content. We used scanning tunneling microscopy (STM) and angle resolved photoemission spectroscopy (ARPES) to probe the surface states on (001) Pb$_{1-x}$Sn$_{x}$Se in the topologically non-trivial (x=0.23) and topologically trivial (x=0) phases. We observed quasiparticle interference with STM on the surface of the topological crystalline insulator and demonstrated that the measured interference can be understood from ARPES studies and a simple band structure model. Furthermore, our findings support the fact that Pb$_{0.77}$Sn$_{0.23}$Se and PbSe have different topological nature.Comment: 5 pages, 4 figure

ARPES Study of the Metal-Insulator Transition in Bismuth Cobaltates

We present an angle-resolved photoemission spectroscopy (ARPES) study of a Mott-Hubbard-type bismuth cobaltate system across a metal-insulator transition. By varying the amount of Pb substitution, and by doping with Sr or Ba cation, a range of insulating to metallic properties is obtained. We observe a systematic change in the spectral weight of the coherent and incoherent parts, accompanied by an energy shift of the incoherent part. The band dispersion also shows the emergence of a weakly dispersing state at the Fermi energy with increasing conductivity. These changes correspond with the changes in the temperature-dependent resistivity behavior. We address the nature of the coherent-incoherent parts in relation to the peak-dip-hump feature seen in cuprates superconductors

Radiation-induced growth and isothermal decay of infrared-stimulated luminescence from feldspar

Optically stimulated luminescence (OSL) ages can determine a wide range of geological events or processes, such as the timing of sediment deposition, the exposure duration of a rock surface, or the cooling rate of bedrock. The accuracy of OSL dating critically depends on our capability to describe the growth and decay of laboratory-regenerated luminescence signals. Here we review a selection of common models describing the response of infrared stimulated luminescence (IRSL) of feldspar to constant radiation and temperature as administered in the laboratory. We use this opportunity to introduce a general-order kinetic model that successfully captures the behaviour of different materials and experimental conditions with a minimum of model parameters, and thus appears suitable for future application and validation in natural environments. Finally, we evaluate all the presented models by their ability to accurately describe a recently published feldspar multi-elevated temperature post-IR IRSL (MET-pIRIR) dataset, and highlight each model's strengths and shortfalls

Renormalization of spectral lineshape and dispersion below Tc in Bi2Sr2CaCu2O8+d

Angle-resolved photoemission (ARPES) data in the superconducting state of Bi2Sr2CaCu2O8+d show a kink in the dispersion along the zone diagonal, which is related via a Kramers-Kronig analysis to a drop in the low-energy scattering rate. As one moves towards (pi,0), this kink evolves into a spectral dip. The occurrence of these anomalies in the dispersion and lineshape throughout the zone indicate the presence of a new energy scale in the superconducting state.Comment: New Figure 3 with expanded discussio

Extracting the electron--boson spectral function α2\alpha^2F(ω\omega) from infrared and photoemission data using inverse theory

We present a new method of extracting electron-boson spectral function $\alpha^2$F($\omega$) from infrared and photoemission data. This procedure is based on inverse theory and will be shown to be superior to previous techniques. Numerical implementation of the algorithm is presented in detail and then used to accurately determine the doping and temperature dependence of the spectral function in several families of high-T$_c$ superconductors. Principal limitations of extracting $\alpha^2$F($\omega$) from experimental data will be pointed out. We directly compare the IR and ARPES $\alpha^2$F($\omega$) and discuss the resonance structure in the spectra in terms of existing theoretical models