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Noumenal Power
(2014)
In political or social philosophy, we speak about power all the time. Yet the meaning of this important concept is rarely made explicit, especially in the context of normative discussions. But as with many other concepts, once one considers it more closely, fundamental problems arise, such as whether a power relation is necessarily a relation of subordination and domination. In the following, I suggest a novel understanding of what power is and what it means to exercise it.
Francisco Suárez (1548-1617) and Rodrigo Arriaga (1592-1667) on the state of innocence and community
(2014)
Recent scholarship on late-scholastic thought has stressed a Jesuit discontinuity from Thomism. While Aquinas’ Aristotelian thesis located the political sphere in the state of innocence, Jesuit thought on community formation is said to have referred to ‘fallen’ and ‘pure’ nature. In this piece, I trace one particular narrative: In the hypothetical, lasting state of innocence (if original sin had not occurred), Aquinas identified the political community, but not the institution of the sacraments. Two celebrated Jesuit scholastics, Francisco Suárez and Rodrigo Arriaga, challenged the latter claim and defended the naturalness of spiritual alongside temporal power. This effectively allowed them to connect ‘nature’ to ‘utility’ and ‘necessity’ without tying their claims to the supernatural teleology. To them, the state of innocence remained relevant for politics, albeit in a way that challenged the Thomist account.
In this thesis, different physical and electrical aspects of silicon microstrip sensors and low-mass multi-line readout cables have been investigated. These silicon microstrip sensors and readout cables will be used in the Silicon Tracking System (STS) of the fixed-target heavy-ion Compressed Baryonic Matter (CBM) experiment which is under development at the upcoming Facility for Antiproton and ion Research (FAIR) in Darmstadt, Germany. The highly segmented low-mass tracking system is a central CBM detector system to resolve the high tracking densities of charged particles originating from beam-target interactions. Considering the low material budget requirement the double-sided silicon microstrip detectors have been used in several planar tracking stations. The readout electronics is planned to be installed at the periphery of the tracking stations along with the cooling system. Low-mass multi-line readout cables shall bridge the distance between the microstrip sensors and the readout electronics. The CBM running operational scenario suggests that some parts of the tracking stations are expected to be exposed to a total integrated particle fluence of the order of 1e14 neq/cm2. After 1e14 neq/cm2 the damaged modules in the tracking stations will be replaced. Thus radiation hard sensor is an important requirement for the sensors. Moreover, to cope with the high reaction rates, free-streaming (triggerless) readout electronics with online event reconstruction must be used which require high signal-to-noise (SNR) ratio (i.e., high signal efficiency, low noise contributions). Therefore, reduction in noise is a major goal of the sensor and cable development.
For better insight into the different aspects of the silicon microstrip sensors and multi-line readout cables, the simulation study has been performed using SYNOPSYS TCAD tools. 3D models of the silicon microstrip sensors and the readout cables were implemented which is motivated by the stereoscopic construction of the silicon microstrip sensors. For the evaluation of the performance of the silicon microstrip sensors in the harsh radiation environment during experimental operation, a radiation damage model has been included. It reproduces the behavior of the irradiated CBM prototype sensors. In addition to the static characteristics, the interstrip parameters relevant to understand strip isolation and cross-talk issues have been extracted. The transient simulations have been performed to estimate the charge collection performance of the irradiated sensors. The signal transmission in the readout cables has been evaluated with the finite element simulation tool RAPHAEL. Based on the performance of the front-end electronics used for early prototyping in the CBM experiment, capacitive and resistive noise contributions from the silicon microstrip sensors and multi-line readout cables have been extracted.
To validate the aforementioned simulations, numerous tests have been performed both on the multi-line readout cables and silicon microstrip sensors. Characterizations of multi-line readout cables and silicon microstrip sensors in laboratory conditions have been found to agree reasonably well with the simulations. Considering the expected radiation environment the behavior of silicon microstrip sensors have been studied especially in terms of noise and charge collection efficiency. Source-scan of the silicon microstrip sensors using 241Am is presented. In order to test a first system of detector stations including the data acquisition system, slow control and online monitoring software and for track reconstruction, in-beam tests have been performed at the COSY synchrotron of the Research Center Juelich, Germany. Further, different design parameters have been suggested to improve the sensor and readout cable design on the basis of the simulations and the measurements. Many of these parameters have been implemented in the new prototypes under production. These new prototypes will be tested in-beam by the end of 2013.
In this paper, we study the effect of proportional transaction costs on consumption-portfolio decisions and asset prices in a dynamic general equilibrium economy with a financial market that has a single-period bond and two risky stocks, one of which incurs the transaction cost. Our model has multiple investors with stochastic labor income, heterogeneous beliefs, and heterogeneous Epstein-Zin-Weil utility functions. The transaction cost gives rise to endogenous variations in liquidity. We show how equilibrium in this incomplete-markets economy can be characterized and solved for in a recursive fashion. We have three main findings. One, costs for trading a stock lead to a substantial reduction in the trading volume of that stock, but have only a small effect on the trading volume of the other stock and the bond. Two, even in the presence of stochastic labor income and heterogeneous beliefs, transaction costs have only a small effect on the consumption decisions of investors, and hence, on equity risk premia and the liquidity premium. Three, the effects of transaction costs on quantities such as the liquidity premium are overestimated in partial equilibrium relative to general equilibrium.
This paper studies the life cycle consumption-investment-insurance problem of a family. The wage earner faces the risk of a health shock that significantly increases his probability of dying. The family can buy term life insurance with realistic features. In particular, the available contracts are long term so that decisions are sticky and can only be revised at significant costs. Furthermore, a revision is only possible as long as the insured person is healthy. A second important and realistic feature of our model is that the labor income of
the wage earner is unspanned. We document that the combination of unspanned labor income and the stickiness of insurance decisions reduces the insurance demand significantly. This is because an income shock induces the need to reduce the insurance coverage, since premia become less affordable. Since such a reduction is costly and families anticipate these potential costs, they buy less protection at all ages. In particular, young families stay away from life insurance markets altogether.
Background: Simple peak-picking algorithms, such as those based on lineshape fitting, perform well when peaks are completely resolved in multidimensional NMR spectra, but often produce wrong intensities and frequencies for overlapping peak clusters. For example, NOESY-type spectra have considerable overlaps leading to significant peak-picking intensity errors, which can result in erroneous structural restraints. Precise frequencies are critical for unambiguous resonance assignments.
Results: To alleviate this problem, a more sophisticated peaks decomposition algorithm, based on non-negative matrix factorization (NMF), was developed. We produce peak shapes from Fourier-transformed NMR spectra. Apart from its main goal of deriving components from spectra and producing peak lists automatically, the NMF approach can also be applied if the positions of some peaks are known a priori, e.g. from consistently referenced spectral dimensions of other experiments.
Conclusions: Application of the NMF algorithm to a three-dimensional peak list of the 23 kDa bi-domain section of the RcsD protein (RcsD-ABL-HPt, residues 688-890) as well as to synthetic HSQC data shows that peaks can be picked accurately also in spectral regions with strong overlap.
Ribosome heterogeneity is of increasing biological significance and several examples have been described for multicellular and single cells organisms. In here we show for the first time a variation in ribose methylation within the 18S rRNA of Saccharomyces cerevisiae. Using RNA-cleaving DNAzymes, we could specifically demonstrate that a significant amount of S. cerevisiae ribosomes are not methylated at 2′-O-ribose of A100 residue in the 18S rRNA. Furthermore, using LC-UV-MS/MS of a respective 18S rRNA fragment, we could not only corroborate the partial methylation at A100, but could also quantify the methylated versus non-methylated A100 residue. Here, we exhibit that only 68% of A100 in the 18S rRNA of S.cerevisiae are methylated at 2′-O ribose sugar. Polysomes also contain a similar heterogeneity for methylated Am100, which shows that 40S ribosome subunits with and without Am100 participate in translation. Introduction of a multicopy plasmid containing the corresponding methylation guide snoRNA gene SNR51 led to an increased A100 methylation, suggesting the cellular snR51 level to limit the extent of this modification. Partial rRNA modification demonstrates a new level of ribosome heterogeneity in eukaryotic cells that might have substantial impact on regulation and fine-tuning of the translation process.
Banks' financial distress, lending supply and consumption expenditure : [version december 2013]
(2014)
The paper employs a unique identification strategy that links survey data on household consumption expenditure to bank level data in order to estimate the effects of bank financial distress on consumer credit and consumption expenditures. Specifically, we show that households whose banks were more exposed to funding shocks report significantly lower levels of non-mortgage liabilities compared to a matched sample of households. The reduced access to credit, however, does not result in lower levels of consumption. Instead, we show that households compensate by drawing down liquid assets. Only households without the ability to draw on liquid assets reduce consumption. The results are consistent with consumption smoothing in the face of a temporary adverse lending supply shock. The results contrast with recent evidence on the real effects of finance on firms' investment, where even temporary adverse credit supply shocks are associated with significant real effects.
Inflation differentials in the euro area have been persistent since the adoption of the single currency. This paper analyzes the impact of product and labor market regulation on inflation in a sample of 11 countries. The results show that, after the adoption of the euro, product market deregulation has a relevant and significant effect on the level of inflation, while higher labor market regulation increases the responsiveness of inflation to the output gap.
We propose an iterative procedure to efficiently estimate models with complex log-likelihood functions and the number of parameters relative to the observations being potentially high. Given consistent but inefficient estimates of sub-vectors of the parameter vector, the procedure yields computationally tractable, consistent and asymptotic efficient estimates of all parameters. We show the asymptotic normality and derive the estimator's asymptotic covariance in dependence of the number of iteration steps. To mitigate the curse of dimensionality in high-parameterized models, we combine the procedure with a penalization approach yielding sparsity and reducing model complexity. Small sample properties of the estimator are illustrated for two time series models in a simulation study. In an empirical application, we use the proposed method to estimate the connectedness between companies by extending the approach by Diebold and Yilmaz (2014) to a high-dimensional non-Gaussian setting.