Noncommutative solenoids and their projective modules

Let p be prime. A noncommutative p-solenoid is the C*-algebra of Z[1/p] x Z[1/p] twisted by a multiplier of that group, where Z[1/p] is the additive subgroup of the field Q of rational numbers whose denominators are powers of p. In this paper, we survey our classification of these C*-algebras up to *-isomorphism in terms of the multipliers on Z[1/p], using techniques from noncommutative topology. Our work relies in part on writing these C*-algebras as direct limits of rotation algebras, i.e. twisted group C*-algebras of the group Z^2 thereby providing a mean for computing the K-theory of the noncommutative solenoids, as well as the range of the trace on the K_0 groups. We also establish a necessary and sufficient condition for the simplicity of the noncommutative solenoids. Then, using the computation of the trace on K_0, we discuss two different ways of constructing projective modules over the noncommutative solenoids.Comment: To appear in the AMS Contemporary Mathematics volume entitled Commutative and Noncommutative Harmonic Analysis and Applications edited by Azita Mayeli, Alex Iosevich, Palle E. T. Jorgensen and Gestur Olafsson. 19 Page

Before main banks : a selective historical overview of Japan's prewar financialsystem

The postwar experience of the Japanese banking system has received considerable attention recently partly because conditions in defeated Japan in 1945 (including high inflation and the need to switch from a military to a civilian economy) are similar to those in transition economies today. Policymakers in transition economies can learn a good deal from the experiences of Japan's postwar financial system but should remember that Japan also experienced extraordinary industrial growth and financial institution building in the late nineteenth and early twentieth centuries. Lessons to be learned from that experience include the following: Business conglomerates that did not continue to depend on government patronage were more successful than others in making the transition to a modern industrial economy. Banks that made a conscious effort to reduce their dependence on central bank credit were more successful than those that did not. The establishment of procedures for punishing defaulting borrowers helped the development of the payments system. Limits on the amount of lending to related parties appear to have contributed to financial stability (and could have contributed more if the newer"zaibatsu"had been as prudent as the older ones). Bank bailouts without accompanying reform (such as those the Bank of Japan undertook in 1920 and 1922) probably increased the likelihood of a more serious crisis, such as that of 1927. Capital standards - the minimum capital requirements established in the 1927 law - were a viable means of encouraging bank consolidation and more prudent lending. The public financial system served as a buffer when the banking sector was downsized.Banks&Banking Reform,Payment Systems&Infrastructure,Financial Intermediation,Financial Crisis Management&Restructuring,Decentralization,Financial Intermediation,Financial Crisis Management&Restructuring,Municipal Financial Management,Banking Law,Banks&Banking Reform

In Their Own Defence: Violence against girls, and girls as human rights defenders

This paper was presented as a background document for the 2009 United Kingdom-India Education and Research Initiative (UKIERI) Colloquium. The colloquium intended to explore the systems, mechanisms and practices available for female victims of violence under the age of 18 to assert themselves in the face of violation of their human rights. It further aimed to stimulate debate and reflection with the purpose of ascertaining whether there is a research and education agenda which merits to be pursued in seeking to reduce violence and to empower the affected girls and women. After establishing some key concepts, the paper raises crucial questions that acted as important guidelines for the discussions that took place during the colloquium

Noncommutative Solenoids and the Gromov-Hausdorff Propinquity

We prove that noncommutative solenoids are limits, in the sense of the Gromov-Hausdorff propinquity, of quantum tori. From this observation, we prove that noncommutative solenoids can be approximated by finite dimensional quantum compact metric spaces, and that they form a continuous family of quantum compact metric spaces over the space of multipliers of the solenoid, properly metrized.Comment: 15 Pages, minor correction

Sovereign credit ratings

Sovereign ratings are gaining importance as more governments with greater default risk borrow in international bond markets. But while the ratings have proved useful to governments seeking market access, the difficulty of assessing sovereign risk has led to agency disagreements and public controversy over specific rating assignments. Recognizing this difficulty, the financial markets have shown some skepticism toward sovereign ratings when pricing issues.Credit ; Debts, External ; Corporate bonds