Towards a voluntary Code of good conduct for Sovereign Debt Restructuring.

The experience of sovereign debt crises in the 1980s and the 1990s has shown that the resolution of crises involved co-operative efforts in which all parties concerned actively participated. With the globalisation of economies, the sophistication of financial techniques, the generalisation of marketable debt instruments and the large diversification of various classes of creditors, an appropriate reshuffling of the overall debt crisis framework appears increasingly necessary. In addition to the strengthening of the International Monetary Fund (IMF) crisis management procedures (e.g. enhancing limits to IMF financing), the international debate has first focused on two approaches for facilitating debt restructuring: the so-called “contractual approach” – based on the generalised inclusion of Collective Action Clauses (CAC) in bond contracts – and the “statutory approach”, i.e. the proposal of a legal international sovereign debt restructuring mechanism (SDRM). While important progress has been achieved in promoting CACs, including their incorporation in recent bond issues of major emerging market countries, the 2003 IMF Spring Meetings concluded that it was not feasible at this stage to move forward to establish the SDRM, while recognising that work should continue on issues that are of general relevance to the orderly resolution of crises. Against this background, the international community and the private sector have expressed interest in developing a non-statutory framework for addressing debt-servicing problems, based on a proposal of a voluntary “Code of Good Conduct” put forward by Governor Trichet. This Code would lay down general principles to be complied with by all stakeholders, provide creditors and debtors with a « roadmap » of the debt renegotiation process and a “tool kit” consisting of a range of instruments (primarily CAC), and procedures regarded by the international community as best practices. The G7 officials are expected to prepare a report on the Code, in consultation with issuers and the private sector by autumn 2003.

Non-sequential triple ionization in strong fields

We consider the final stage of triple ionization of atoms in a strong linearly polarized laser field. We propose that for intensities below the saturation value for triple ionization the process is dominated by the simultaneous escape of three electrons from a highly excited intermediate complex. We identify within a classical model two pathways to triple ionization, one with a triangular configuration of electrons and one with a more linear one. Both are saddles in phase space. A stability analysis indicates that the triangular configuration has the larger cross sections and should be the dominant one. Trajectory simulations within the dominant symmetry subspace reproduce the experimentally observed distribution of ion momenta parallel to the polarization axis.Comment: 9 pages, 8 figures, accepted for publication in Phys. Rev.

Pathways to double ionization of atoms in strong fields

We discuss the final stages of double ionization of atoms in a strong linearly polarized laser field within a classical model. We propose that all trajectories leading to non-sequential double ionization pass close to a saddle in phase space which we identify and characterize. The saddle lies in a two degree of freedom subspace of symmetrically escaping electrons. The distribution of longitudinal momenta of ions as calculated within the subspace shows the double hump structure observed in experiments. Including a symmetric bending mode of the electrons allows us to reproduce the transverse ion momenta. We discuss also a path to sequential ionization and show that it does not lead to the observed momentum distributions.Comment: 10 pages, 10 figures; fig.6 and 7 exchanged in the final version accepted for publication in Phys. Rev.

Baryon Current Matrix Elements in a Light-Front Framework

Current matrix elements and observables for electro- and photo-excitation of baryons from the nucleon are studied in a light-front framework. Relativistic effects are estimated by comparison to a nonrelativistic model, where we use simple basis states to represent the baryon wavefunctions. Sizeable relativistic effects are found for certain transitions, for example, to radial excitations such as that conventionally used to describe to the Roper resonance. A systematic study shows that the violation of rotational covariance of the baryon transition matrix elements stemming from the use of one-body currents is generally small.Comment: 32 pages, LaTeX, 10 postscript figures, uses epsf.sty; figures uuencoded with uufiles (or available by request in .ps or hardcopy form

Nondiffusive spin dynamics in a two-dimensional electron gas

We describe measurements of spin dynamics in the two-dimensional electron gas in GaAs=GaAlAs quantum wells. Optical techniques, including transient spin-grating spectroscopy, are used to probe the relaxation rates of spin polarization waves in the wave vector range from zero to 6 x 104 cm-1. We find that the spin polarization lifetime is maximal at a nonzero wave vector, in contrast with expectations based on ordinary spin diffusion, but in quantitative agreement with recent theories that treat diffusion in the presence of spin-orbit couplin

[OII] emitters in the GOODS field at z~1.85: a homogeneous measure of evolving star formation

We present the results of a deep, near-infrared, narrow band imaging survey at a central wavelength of 1.062 microns (FWHM=0.01 microns) in the GOODS-South field using the ESO VLT instrument, HAWK-I. The data are used to carry out the highest redshift search for [OII]3727 emission line galaxies to date. The images reach an emission line flux limit (5 sigma) of 1.5 x 10^-17 erg cm^-2 s^-1, additionally making the survey the deepest of its kind at high redshift. In this paper we identify a sample of [OII]3727 emission line objects at redshift z~1.85 in a co-moving volume of ~4100 Mpc^3. Objects are selected using an observed equivalent width (EW_obs) threshold of EW_obs = 50 angstroms. The sample is used to derive the space density and constrain the luminosity function of [OII] emitters at z=1.85. We find that the space density of objects with observed [OII] luminosities in the range log(L_[OII]) > 41.74 erg s^-1 is log(rho)=-2.45+/-0.14 Mpc^-3, a factor of 2 greater than the observed space density of [OII] emitters reported at z~1.4. After accounting for completeness and assuming an internal extinction correction of A_Halpha=1 mag (equivalent to A_[OII]=1.87), we report a star formation rate density of rho* ~0.38+/-0.06 Msun yr^-1 Mpc^-3. We independently derive the dust extinction of the sample using 24 micron fluxes and find a mean extinction of A_[OII]=0.98+/-0.11 magnitudes (A_Halpha=0.52). This is significantly lower than the A_Halpha=1 (A[OII]=1.86) mag value widely used in the literature. Finally we incorporate this improved extinction correction into the star formation rate density measurement and report rho*~0.24+/-0.06 Msun yr^-1 Mpc^-3.Comment: 11 pages, 10 figures, accepted for publication in MNRA

Meter-scale spark X-ray spectrumstatistics

X-ray emission by sparks implies bremsstrahlung from a population of energetic electrons, but the details of this process remain a mystery. We present detailed statistical analysis of X-ray spectra detected by multiple detectors during sparks produced by 1 MV negative high-voltage pulses with 1 $\mu$s risetime. With over 900 shots, we statistically analyze the signals, assuming that the distribution of spark X-ray fluence behaves as a power law and that the energy spectrum of X-rays detectable after traversing $\sim$2 m of air and a thin aluminum shield is exponential. We then determine the parameters of those distributions by fitting cumulative distribution functions to the observations. The fit results match the observations very well if the mean of the exponential X-ray energy distribution is 86 $\pm$ 7 keV and the spark X-ray fluence power law distribution has index -1.29 $\pm$ 0.04 and spans at least 3 orders of magnitude in fluence

Photon-Photon Entanglement with a Single Trapped Atom

An experiment is performed where a single rubidium atom trapped within a high-finesse optical cavity emits two independently triggered entangled photons. The entanglement is mediated by the atom and is characterized both by a Bell inequality violation of S=2.5, as well as full quantum-state tomography, resulting in a fidelity exceeding F=90%. The combination of cavity-QED and trapped atom techniques makes our protocol inherently deterministic - an essential step for the generation of scalable entanglement between the nodes of a distributed quantum network.Comment: 5 pages, 4 figure

How Advanced Change Patterns Impact the Process of Process Modeling

Process model quality has been an area of considerable research efforts. In this context, correctness-by-construction as enabled by change patterns provides promising perspectives. While the process of process modeling (PPM) based on change primitives has been thoroughly investigated, only little is known about the PPM based on change patterns. In particular, it is unclear what set of change patterns should be provided and how the available change pattern set impacts the PPM. To obtain a better understanding of the latter as well as the (subjective) perceptions of process modelers, the arising challenges, and the pros and cons of different change pattern sets we conduct a controlled experiment. Our results indicate that process modelers face similar challenges irrespective of the used change pattern set (core pattern set versus extended pattern set, which adds two advanced change patterns to the core patterns set). An extended change pattern set, however, is perceived as more difficult to use, yielding a higher mental effort. Moreover, our results indicate that more advanced patterns were only used to a limited extent and frequently applied incorrectly, thus, lowering the potential benefits of an extended pattern set