On the Computational Complexity of Measuring Global Stability of Banking Networks

Threats on the stability of a financial system may severely affect the functioning of the entire economy, and thus considerable emphasis is placed on the analyzing the cause and effect of such threats. The financial crisis in the current and past decade has shown that one important cause of instability in global markets is the so-called financial contagion, namely the spreadings of instabilities or failures of individual components of the network to other, perhaps healthier, components. This leads to a natural question of whether the regulatory authorities could have predicted and perhaps mitigated the current economic crisis by effective computations of some stability measure of the banking networks. Motivated by such observations, we consider the problem of defining and evaluating stabilities of both homogeneous and heterogeneous banking networks against propagation of synchronous idiosyncratic shocks given to a subset of banks. We formalize the homogeneous banking network model of Nier et al. (J. Econ. Dyn. Control 31:2033–2060, 2007) and its corresponding heterogeneous version, formalize the synchronous shock propagation procedures outlined in (Nier et al. J. Econ. Dyn. Control 31:2033–2060, 2007; M. Eboli Mimeo, 2004), define two appropriate stability measures and investigate the computational complexities of evaluating these measures for various network topologies and parameters of interest. Our results and proofs also shed some light on the properties of topologies and parameters of the network that may lead to higher or lower stabilities.     

A Fast Algorithm for Adaptive Prefix Coding

In this paper we present a new algorithm for adaptive prefix coding. Our algorithm encodes a text S of m symbols in O(m) time, i.e., in O(1) amortized time per symbol. The length of the encoded string is bounded above by (H+1)m+O(nlog ² m) bits where n is the alphabet size and H is the entropy. This is the first algorithm that adaptively encodes a text in O(m) time and achieves an almost optimal bound on the encoding length in the worst case. Besides that, our algorithm does not depend on an explicit code tree traversal. A preliminary version of this paper appeared in the Proceedings of the 2006 IEEE International Symposium on Information Theory (ISIT 2006). M. Karpinski’s work partially supported by a DFG grant, Max-Planck Research Prize, and IST grant 14036 (RAND-APX). Y. Nekrich’s work partially supported by IST grant 14036 (RAND-APX).     

Improved Approximation Algorithms for the Quality of Service Multicast Tree Problem

The Quality of Service Multicast Tree Problem is a generalization of the Steiner tree problem which appears in the context of multimedia multicast and network design. In this generalization, each node possesses a rate and the cost of an edge with length l in a Steiner tree T connecting the source to non-zero rate nodes is l · r_e, where r_e is the maximum node rate in the component of T-{e} that does not contain the source. The best previously known approximation ratios for this problem (based on the best known approximation factor of 1.549 for the Steiner tree problem in networks) are 2.066 for the case of two non-zero rates and 4.212 for the case of an unbounded number of rates. In this paper we give improved approximation algorithms with ratios of 1.960 and 3.802, respectively. When the minimum spanning tree heuristic is used for finding approximate Steiner trees, then the previously best known approximation ratios of 2.667 for two non-zero rates and 5.542 for an unbounded number of rates are reduced to 2.414 and 4.311, respectively.     

1,4-Cyclohexanecarboxylates: potent and selective inhibitors of phosophodiesterase 4 for the treatment of asthma

Evaluation of a variety of PDE4 inhibitors in a series of cellular and in vivo assays suggested a strategy to improve the therapeutic index of PDE4 inhibitors by increasing their selectivity for the ability to inhibit PDE4 catalytic activity versus the ability to compete for high affinity [3H]rolipram-binding sites in the central nervous system. Use of this strategy led ultimately to the identification of cis-4-cyano-4-[3-(cyclopentyloxy)-4-methoxyphenyl]cyclohexane-1-carboxyl ic acid (1, SB 207499, Ariflo), a potent second-generation inhibitor of PDE4 with a decreased potential for side effects versus the archetypic first generation inhibitor, (R)-rolipram.     

Single Crystals of HgBa2Can−1CunO2n+2+δ (n=1−5) and Layers of HgBa2CuO4+δ Grown at Gas Pressure 10 kbar

Single crystals of Hg-12(n?l) have been grown using high-pressure gas-technique. Due to the high density of Ar gas at 10 kbar the evaporation of Hg is strongly suppresed. An influence of structure defects on magnetic properties will be discussed. Superconducting parameters λ _ab ,ξ _ab and γ have been studied using torque magnetometry. Layers of Hg-1201 compound have been grown from flux.     

Silver–zinc: status of technology and applications

Michel Yardney and Professor Henri André developed the first practical silver–zinc battery more than 55 years ago. Since then, primary and rechargeable silver–zinc batteries have attracted a variety of applications due to their high specific energy/energy density, proven reliability and safety, and the highest power output per unit weight and volume of all commercially available batteries. Although significant improvements have been achieved on traditional systems such as lead–acid and nickel/cadmium, and in spite of the advent of new electrochemistries such as lithium–ion and nickel/metal hydride, many users still rely on silver–zinc to satisfy their most demanding and critical requirements. Over the past few years, several of the internal components have been subject to many studies which resulted in significant improvements in the battery wet life and cycle life. Specifically, these include new separator materials which offer an alternative to the cellulosic membranes, improvements to the zinc electrode that include additives that help reduce shape-change and dendritic growth, and to a lesser extent, process changes to the silver electrode and additives to the electrolyte. In comparison, the commonly used secondary systems are lead–acid, nickel/cadmium, nickel/metal hydride, and lithium–ion. Each has attributes which make them desirable for certain applications. Where low cost, high voltage, and high rate capability is required, the lead–acid battery is an obvious choice whenever size and weight are not critical. For applications requiring longer wet life, moderate rate capability, and high cycle life, nickel/cadmium or nickel/metal hydride can be used in spite of their poor charge retention and higher costs. Relatively newer systems are also available such as lithium–ion or lithium polymer technology which are preferred for their high voltage and excellent cycle life. Among the disadvantages of these systems are higher costs, limited configurations (usually available in small cylindrical cells) and lack of an established data base. In spite of the advantages noted for the popular secondary systems, the silver–zinc couple still is the system of choice where high specific energy/energy density, coupled with high specific power/power density are important for high-rate, weight or size-sensitive applications. In the 1950s, Yardney developed the first practical rechargeable silver–zinc cell for an underwater application. The U.S. Navy, recognizing the potential of this system for torpedo propulsion, soon adopted it to power the majority of its electric torpedoes—increasing their speed and range, and allowing more room for increasing the performance capability of the torpedo. One of the first programmes which adopted the silver–zinc technology was the MK58 or ‘Brush' torpedo which consisted of 44 A h cells. At that time, silver–zinc batteries became the preferred system for many other applications. Some of the unique systems include the largest silver–zinc battery ever made, a 256-ton battery for the Albacore G-5 submarine. This battery consisted of a two-section, two-hundred-and-eighty-cell battery, with each cell rated at 20,000 A h. Each cell was essentially the size of a standard four-drawer filing cabinet. Since that time, many of the silver–zinc applications have considerably scaled down their power requirements. Underwater applications are consistently using the larger sized batteries while the smallest are typically found in missile applications. This paper will describe some of the current activities in addressing the major components of the cell and a summary of the current applications of the silver–zinc system.     

An exploration of social networking site use,multitasking, and academic performance among United States and European university students

Studies have shown that multitasking with technology, specifically using Social Networking Sites (SNSs), decreases both efficiency and productivity in an academic setting. This study investigates multitasking’s impact on the relationship between SNS use and Grade Point Average (GPA) in United States (US; n = 451) and European (n = 406) university students using quantitative and qualitative data analysis. Moderated Multiple Regression analysis results showed that the negative relationship between SNS use and GPA was moderated by multitasking only in the US sample. This may be due to European students being less prone to “disruptive” multitasking. The results provide valuable cautionary information about the impact of multitasking and using SNSs in a learning environment on university students’ GPAs.     

Single Crystals of HgBa2Can-1CunOx and Chain Compounds A1-xCuO2 (A=Sr, Ca, Ba), High Pressure Synthesis and Properties

High gas pressure up to 11 kbar has been applied for the synthesis and single crystal growth of Hg-based superconductors and one-dimensional A _1-x CuO ₂ cuprates. We have investigated the influence of Re, Sr and Pb substitutions and oxygen content on the magnetic flux-pinning properties of single crystals of Hg-based superconductors. The best results have been obtained for Sr and Pb substituted Hg1223 single crystals. Susceptibility, neutron scattering, and torque investigations have been performed on Ca _0.83 CuO ₂ , Sr _0.73 CuO ₂ and Ba _0.67 CuO ₂ compounds containing CuO ₂ infinite chains separated by Ca, Sr or Ba layers.     

Polynomial Time Approximation Schemes for Some Dense Instances of NP-Hard Optimization Problems

We survey recent results on the existence of polynomial time approximation schemes for some dense instances of NP-hard combinatorial optimization problems. We indicate some inherent limits for the existence of such schemes for some other dense instances of optimization problems. We also go beyond the dense optimization problems and show how other approximation problems can be solved by using dense techniques. Received October 30, 1997; revised June 25, 1999, and April 17, 2000.     

Anisotropy of Superconducting Single Crystal SmFeAsO0.8F0.2 Studied by Torque Magnetometry

Single crystals of the oxypnictide superconductor SmFeAsO_0.8F_0.2 with T _c≃45(1) K were investigated by torque magnetometry. The crystals of mass ≤0.1 μg were grown by a high-pressure cubic anvil technique. The use of a high-sensitive piezoresistive torque sensor made it possible to study the anisotropic magnetic properties of these tiny crystals. The anisotropy parameter γ was found to be field independent, but varies strongly with temperature ranging from γ≃8 at T≲T _c to γ≃23 at T≃0.4T _c. This unusual behavior of γ signals unconventional superconductivity.