Phenomenology of anomalous chiral transports in heavy-ion collisions

High-energy Heavy-ion collisions can generate extremely hot quark-gluon matter and also extremely strong magnetic fields and fluid vorticity. Once coupled to chiral anomaly, the magnetic fields and fluid vorticity can induce a variety of novel transport phenomena, including the chiral magnetic effect, chiral vortical effect, etc. Some of them require the environmental violation of parity and thus provide a means to test the possible parity violation in hot strongly interacting matter. We will discuss the underlying mechanism and implications of these anomalous chiral transports in heavy-ion collisions.Comment: 10 pages, 3 figures, 1 table. Proceedings of the XLVII edition of the International Symposium on the Multiparticle Dynamics, September 11-15 2017, Mexic

Financial Institutions, Contagious Risks, and Financial Crises

In this paper contagious risks and financial crises are endogenized through the interactions among corporations, banks, and the interbank market. We show that the lack of financial discipline in a single-bank-financing economy generates informational problems and thus the malfunction of the interbank market, which constitutes a mechanism of financial contagion and may lead to a financial crisis. In contrast, financial discipline in an economy with diversified financial institutions leads to timely information disclosure from firms to banks and improves the informational environment of the interbank market. With symmetric information in the interbank market, bank runs are contained to insolvent banks and financial crises are prevented. Our theory sheds light on the causes and timing of the East Asian crisis; it also has important policy implications for the lender of last resort and banking reform.http://deepblue.lib.umich.edu/bitstream/2027.42/39828/3/wp444.pd