Stress testing banks' profitability: the case of French banks

We build a stress testing framework to evaluate the sensitivity of banks’ profitability to plausible but severe adverse macroeconomic shocks. Specifically, we test the resilience of French banks using supervisory data over the period 1993-2009. First, we identify the macroeconomic and financial variables (GDP growth, interest rate maturity spread, stock market’s volatility) and bank-specific variables (size, capital ratio, ratio of non interest income to assets) that significantly affect French banks’ profitability. Second, our macroeconomic stress testing exercises based on a simulation of macroeconomic variables show that French banks’ profitability is resilient to major adverse macroeconomic scenarios. Specifically, our findings highlight that even severe recessions would leave the French banking system profitable.bank profitability, dynamic panel estimation, stress test.

Axial Anomaly and the Nucleon Spin

In this letter, we have taken a particular Lagrangian, which was introduced to resolve U(1) problem, as an effective QCD Lagrangian, and have derived a formula of the quark content of the nucleon spin. The difference between quark content of the proton (\Delta\Sigma_p) and that of the neutron (\Delta\Sigma_n) is evaluated by this formula. Neglecting the higher-order isospin corrections, this formula can reduce to Efremov's results in the large N_c limit.Comment: (1) A few changes and corrections made following Referee. (2) The difference between quark content of the proton (\Delta\Sigma_p) and that of the neutron (\Delta\Sigma_n) is evaluated. Neglecting the higher-order isospin corrections, this formula can reduce to Efremov's results in the large N_c limi

Numerical solutions of 2-D multi-stage rotor/stator unsteady flow interactions

The Rai method of single-stage rotor/stator flow interaction is extended to handle multistage configurations. In this study, a two-dimensional Navier-Stokes multi-zone approach was used to investigate unsteady flow interactions within two multistage axial turbines. The governing equations are solved by an iterative, factored, implicit finite-difference, upwind algorithm. Numerical accuracy is checked by investigating the effect of time step size, the effect of subiteration in the Newton-Raphson technique, and the effect of full viscous versus thin-layer approximation. Computer results compared well with experimental data. Unsteady flow interactions, wake cutting, and the associated evolution of vortical entities are discussed

Tip vortex computer code SRATIP. User's guide

This User's Guide applies to the three dimensional viscous flow forward marching analysis, PEPSIG, as used for the calculation of the helicopter tip vortex flow field. The guide presents a discussion of the program flow and subroutines, as well as a list of sample input and output

Multiband effects on the conductivity for a multiband Hubbard model

The newly discovered iron-based superconductors have attracted lots of interests, and the corresponding theoretical studies suggest that the system should have six bands. In this paper, we study the multiband effects on the conductivity based on the exact solutions of one-dimensional two-band Hubbard model. We find that the orbital degree of freedom might enhance the critical value $U_c$ of on-site interaction of the transition from a metal to an insulator. This observation is helpful to understand why undoped High-$T_c$ superconductors are usually insulators, while recently discovered iron-based superconductors are metal. Our results imply that the orbital degree of freedom in the latter cases might play an essential role.Comment: 4 pages, 5 figure

Observation of strong electron dephasing in disordered Cu93_{93}Ge4_4Au3_3 thin films

We report the observation of strong electron dephasing in a series of disordered Cu$_{93}$Ge$_4$Au$_3$ thin films. A very short electron dephasing time possessing very weak temperature dependence around 6 K, followed by an upturn with further decrease in temperature below 4 K, is found. The upturn is progressively more pronounced in more disordered samples. Moreover, a ln$T$ dependent, but high-magnetic-field-insensitive, resistance rise persisting from above 10 K down to 30 mK is observed in the films. These results suggest a nonmagnetic dephasing process which is stronger than any known mechanism and may originate from the coupling of conduction electrons to dynamic defects.Comment: to appear in Phys. Rev. Let

Simulation of radial expansion of an electron beam injected into a background plasma

A 2-D electrostatic particle code was used to study the beam radial expansion of a nonrelativistic electron beam injected from an isolated equipotential conductor into a background plasma. The simulations indicate that the beam radius is generally proportional to the beam electron gyroradius when the conductor is charged to a large potential. The simulations also suggest that the charge buildup at the beam stagnation point causes the beam radial expansion. From a survey of the simulation results, it is found that the ratio of the beam radius to the beam electron gyroradius increases with the square root of beam density and decreases inversely with beam injection velocity. This dependence is explained in terms of the ratio of the beam electron Debye length to the ambient electron Debye length. These results are most applicable to the SEPAC electron beam injection experiments from Spacelab 1, where high charging potential was observed