Information Network Modeling for U.S. Banking Systemic Risk

In this work we investigate whether information theory measures like mutual information and transfer entropy, extracted from a bank network, Granger cause financial stress indexes like LIBOR-OIS (London Interbank Offered Rate-Overnight Index Swap) spread, STLFSI (St. Louis Fed Financial Stress Index) and USD/CHF (USA Dollar/Swiss Franc) exchange rate. The information theory measures are extracted from a Gaussian Graphical Model constructed from daily stock time series of the top 74 listed US banks. The graphical model is calculated with a recently developed algorithm (LoGo) which provides very fast inference model that allows us to update the graphical model each market day. We therefore can generate daily time series of mutual information and transfer entropy for each bank of the network. The Granger causality between the bank related measures and the financial stress indexes is investigated with both standard Granger-causality and Partial Granger-causality conditioned on control measures representative of the general economy conditions.     

STM images of a large organic molecule adsorbed on a bare metal substrate or on a thin insulating layer: Visualization of HOMO and LUMO

An isomer of the methylterrylene molecule was adsorbed both on Cu(111) and on a NaCl bilayer deposited on Cu(111) and imaged by ultra high vacuum scanning tunneling microscopy at low temperature (5 K). On the bare metal surface, the STM images do not reveal any intramolecular resolution and do not depend on the applied tunnel bias. On the contrary, the images acquired at specific bias voltages for the molecule on the salt layer show a striking similarity with the spatial distribution of the electronic probability density in the highest occupied molecular orbital (HOMO) and in the lowest unoccupied molecular orbital (LUMO) of free methylterrylene. They are well reproduced by elastic scattering quantum chemistry calculations. These data provide a direct view of the hyperconjugative interaction between the methyl group and the frontier orbitals of terrylene.     

Electron–positron pair production in the external electromagnetic field of colliding relativistic heavy ions

The results concerning the production in peripheral highly relativistic heavy-ion collisions presented in a recent paper by Baltz et al. are rederived in a very straightforward manner. It is shown that the solution of the Dirac equation directly leads to the multiplicity, i.e. to the total number of electron–positron pairs produced by the electromagnetic field of the ions, whereas the calculation of the single pair production probability is much more involved. A critical observation concerns the unsolved problem of seemingly absent Coulomb corrections (Bethe–Maximon corrections) in pair production cross sections. It is shown that neither the inclusion of the vacuum–vacuum amplitude nor the correct interpretation of the solution of the Dirac equation concerning the pair multiplicity is able the explain (from a fundamental point of view) the absence of Coulomb corrections. Therefore the contradiction has to be accounted to the treatment of the high energy limit. Received: 30 November 2001 / Published online: 22 February 2002     

Regularization in quantum field theory from the causal point of view

The causal approach to perturbative quantum field theory is presented in detail, which goes back to a seminal work by Henri Epstein and Vladimir Jurko Glaser in 1973 [12]. Causal perturbation theory is a mathematically rigorous approach to renormalization theory, which makes it possible to put the theoretical setup of perturbative quantum field theory on a sound mathematical basis. Epstein and Glaser solved this problem for a special class of distributions, the time-ordered products, that fulfill a causality condition, which itself is a basic requirement in axiomatic quantum field theory. In their original work, Epstein and Glaser studied only theories involving scalar particles. In this review, the extension of the method to theories with higher spin, including gravity, is presented. Furthermore, specific examples are presented in order to highlight the technical differences between the causal method and other regularization methods, like, e.g. dimensional regularization.     

Swelling and contraction of ferrocyanide-containing polyelectrolyte multilayers upon application of an electric potential

We developed a new platform at the interface of polyelectrolyte multilayers (PEMs) and electroactive polymers (EAPs) by combining the easy buildup of PEM thin films and the deformation characteristics of the EAPs. The PEM films were made of poly(L-glutamic acid) (PGA) and poly(allylamine hydrochloride) (PAH). After [Fe(CN)6]4- ions (FCIV) were added, cyclic voltammetry (CV) was performed, resulting in a reversible expansion and contraction of the film. The shape change as well as the film buildup prior to the cycling were monitored in situ using the electrochemical quartz crystal microbalance with dissipation monitoring (EC-QCM-D). Electrochemical atomic force microscopy (EC-AFM) images confirmed the rapid shape deformation. The process takes place in an aqueous environment under mild conditions (maximum potential of 600 mV and no pH change), which makes it a promising tool for biomedical applications. In addition, the electrochemically active films are produced using the layer-by-layer (LbL) method that is already established in biotechnology and biomaterials science; therefore, the presented approach can be readily adapted in these areas, bringing about a new possibility for the nanoscale dynamic control of coating thickness in various applications.