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The German savings and cooperative banks of the 19th century were precursors of modern microfinance. They provided access to financial services for the majority of the German population, which was formerly excluded from bank funding. Furthermore, they did this at low costs for themselves and affordable prices for their clients. By creating networks of financially viable and stable financial institutions covering the entire country, they contributed significantly to building a sound and “inclusive” financial infrastructure in Germany. A look back at the history of German savings and cooperative banks and combining these experiences with the lessons learned from modern microfinance can guide current policy and be valuable for present and future models of microfinance business.
It appears astonishing to me that none of the papers and discussions at this conference on "Financial Flows to Developing Countries" have even touched upon an important category of international financial relationships which involves direct flows and links to the so-called developing countries. Specifically, none of the contributions have dealt with “development finance”, which is a broad term covering various kinds of activities carried out in the framework of development assistance. This is a particularly striking omission, given that until fairly recently the volume of official aid exceeded the volume of private capital flows to the developing and transition economies (IMF, 1998, p. 60). Moreover, it is conceivable that, in terms of both their developmental impact and their contribution to the alleviation of social problems, the flows financed by official aid may be more important than private capital flows. Thus, I felt that, at the very least, my fellow conference participants should be made aware of this gap in the range of topics addressed by the conference, and it was with this goal in mind that I prepared the present paper as a contribution to the concluding session of the conference. The first section of the present paper defines the concept of “development finance” and seeks to show how its content and meaning has changed over time. In the second section, I discusses a broad trend in banking regulation which has recently emerged in many developing and transition countries and which has, in my view, highly problematic implications for the potential to create financially sound and developmentally relevant “microfinance institutions”.
This Paper gives an overview of the German banking system and current challenges it is facing. It starts with an overview of the so-called ‘Three-Pillar-Banking-System’ and a detailed description of the current structure of the banking system in Germany. A brief comparison of the banking system in Germany with the ones in other European countries points out its uniqueness. The consequences of the financial crisis of 2007/2008 and further challenges for the German banking system are discussed, as well as the the ongoing debate around the question whether the strong government involvement should be sustained.
Until about 25 years ago, almost all European countries had a so-called “three pillar” banking system comprising private banks, (public) savings banks and (mutual) cooperative banks. Since that time, several European countries have implemented far-reaching changes in their banking systems, which have more than anything else affected the two “pillars” of the savings and cooperative banks. The article describes the most important changes in Germany, Austria, France, Italy and Spain and characterizes the former and the current roles of savings banks and cooperative banks in these countries. A particular focus is placed on the German case, which is almost unique in so far as the German savings banks and cooperative banks have maintained most of their traditional features. The article concludes with a plea for diversity of institutional forms of banks and argues that it is important to safeguard the strengths of those types of banks that do not conform to the model of a large shareholder-oriented commercial bank.
This paper aspires to provide an overview of the issue of diversity of banking and financial systems and its development over time from a positive and a normative perspective. In other word: how different are banks within a given country and how much do banking systems and entire financial systems differ between countries and regions, and do in-country diversity and between-country diversity change over time, as one would be inclined to expect as a consequence of globalization and increasingly global standards of regulation?
As the first part of this paper shows, the general answer to these questions is that there is still today a surprisingly high level of diversity in finance. This raises the two questions addressed in the second part of the paper: How can the persistence of diversity be explained, and how can it be assessed? In contrast to prevailing views, the author argues that persistent diversity should be regarded as valuable in a context in which there is no clear answer to the question of which structures of banking and financial systems are optimal from an economic perspective
Passt das deutsche Dreisäulensystem in eine zunehmend harmonisierte Bankenstruktur für Europa?
(2018)
Das deutsche Bankensystem ruht seit Jahrzehnten auf drei Säulen: den privaten Kreditbanken, einschließlich der großen Banken in Aktionärsbesitz, den öffentlichen Banken und den Genossenschaftsbanken. Fast nirgendwo anders in Europa hat ein solches Dreisäulensystem überlebt. Passt es also noch in ein Europa, in dem die Bankpolitik, die Regulierung und die Aufsicht inzwischen weitgehend in die Zuständigkeit der EU fallen? Für eine Bewahrung des Systems sprechen vor allem Gesichtspunkte der Stabilität. Angesichts ihrer Gruppenzugehörigkeit sind die deutschen "stakeholder-value-orientierten" Banken der Säulen 2 und 3 finanziell keineswegs weniger erfolgreich, sogar ein wenig erfolgreicher als die "shareholder-value-orientierten" Großbanken der Säule 1. Insbesondere schwanken ihre Geschäftszahlen deutlich weniger als jene der Großbanken, die in der Regel ein riskanteres Geschäftsmodell verfolgen. In vielen Privatbanken ist die Gewinnorientierung und damit auch die Bereitschaft, hohe Risiken einzugehen, aus ordnungspolitischer Sicht zu hoch, was die Systemstabilität tendenziell gefährdet. Zudem erfüllen die Genossenschaftsbanken und Sparkassen eine regionalpolitische Ausgleichsfunktion und haben eine gesamtwirtschaftlich stabilisierende Wirkung.
In this statement the European Shadow Financial Regulatory Committee (ESFRC) is advocating a conditional relief of Greek’s government debt based on Greece meeting certain targets for structural economic reforms in areas such as its labor market and pensions sector.The authors argue that the position of the European institutions that debt relief for Greece cannot be part of an agreement is based on the illusion that Greece will be able to service its sovereign debt and reduce its debt overhang after implementing a set of fiscal and structural reforms. However, the Greek economy would need to grow at an unrealistig level to achieve debt sustainability soley on the basis of reforms.The authors therefore view a substantial debt relief as inevitable and argue that three questions must be resolved urgently, in order to structure debt relief adequately: First, which groups must accept losses associated with debt relief. Second, how much debt relief should be offered. Third, under what conditions should relief be offered.
In early July 2019, Christian Sewing, the CEO of Deutsche Bank, proclaimed a fundamental shift of the bank’s strategy after finally obtaining the approval of the Supervisory Board, which the management seems to have requested for quite some time. The essential point of the reorientation is a deep cut into the bank’s investment banking activities. At the same time, those parts of the bank’s activity portfolio that had been the mainstay of Deutsche Bank’s business 20 to 25 years ago, in particular lending to large and mid-sized German and European corporate clients, shall be strengthened in spite of a simultaneous reduction of the bank’s staff by 18,000 FTEs over the next three years.
The bank’s CEO, who has only been in office since about one year, was reported to have called this shift of strategy a “return to the roots of Deutsche Bank” at the press conference at which it was announced, without, however, making it clear to which roots he was referring: those of some 40 years ago, when Deutsche Bank was essentially a Germany-focused commercial bank, or even those from the late 19th century, when the bank had been founded with the mission to become an international bank with a strong capital market-orientation. In any event, the press was impressed and keeps repeating these words, that deserve to be taken seriously and irrespective of their vagueness may be justified. If it were successfully implemented, this change of strategy would indeed be fundamental and imply undoing what Deutsche Bank’s former management teams had aspired to do in the last 20 or 25 years.
The newly announced strategy shift raises two questions. Can it be successful, and what does it mean for the bank itself and its shareholders, for its staff and for its clients? And what does it imply for the German financial system? This note focuses on the latter question. What makes it interesting is the fact that the last fundamental change of Deutsche Bank’s strategy of two decades ago, which aimed at transforming Deutsche Bank from a Germany-centered commercial bank into a leading international investment bank, had a profound – and in my view clearly negative - effect on the entire German financial system.
Chirality is omnipresent in living nature. On the single molecule level, the response of a chiral species to a chiral probe depends on their respective handedness. A prominent example is the difference in the interaction of a chiral molecule with left or right circularly polarized light. In the present study, we show by Coulomb explosion imaging that circularly polarized light can also induce a chiral fragmentation of a planar and thus achiral molecule. The observed enantiomer strongly depends on the orientation of the molecule with respect to the light propagation direction and the helicity of the ionizing light. This finding might trigger new approaches to improve laser-driven enantioselective chemical synthesis.
The cis-trans-isomerism of the WITTIG hydrocarbon was investigated in solid state and solution by means of fluorescence spectroscopy. The fluorescence behavior of both isomers in 2-methyltetrahydrofurane was determined as a function of concentration, temperature, and wavelength of exciting radiation. Furthermore, irradiation experiments were undertaken with light of various wavelengths.
The results obtained are in agreement with the assumption that the WITTIG hydrocarbon behaves with regard to the cis-trans-isomerism like a 1,3-butadien derivative, i.e. a thermal but no photochemical cis-trans-isomerisation can be detected. The enthalpy difference between the two isomers was estimated to ΔΗ = 250 ± 50 cal/mole. It could be shown that the fluorescence of the cis-isomer is quenched by the trans-isomer. This quenching occurs probably according to the resonance energy transfer mechanism.
The design, construction, and commissioning of the ALICE Time-Projection Chamber (TPC) is described. It is the main device for pattern recognition, tracking, and identification of charged particles in the ALICE experiment at the CERN LHC. The TPC is cylindrical in shape with a volume close to 90 m3 and is operated in a 0.5 T solenoidal magnetic field parallel to its axis.
In this paper we describe in detail the design considerations for this detector for operation in the extreme multiplicity environment of central Pb–Pb collisions at LHC energy. The implementation of the resulting requirements into hardware (field cage, read-out chambers, electronics), infrastructure (gas and cooling system, laser-calibration system), and software led to many technical innovations which are described along with a presentation of all the major components of the detector, as currently realized. We also report on the performance achieved after completion of the first round of stand-alone calibration runs and demonstrate results close to those specified in the TPC Technical Design Report.
Das deutsche Bankensystem ruht seit Jahrzehnten auf drei Säulen: den privaten Kreditbanken, den öffentlichen Banken des Sparkassensystems und den genossenschaftlichen Banken. Das Drei-Säulen-System scheint ursächlich für die Stabilität im deutschen Bankensystem zu sein. Gerade die Krise hat gezeigt, dass es für ein Bankensystem vorteilhaft ist, wenn es darin nicht nur einen Typus von Banken gibt. Wir müssen eine Pluralität von Organisationsformen im Bankwesen erhalten und weiterentwickeln.
The KER for electron capture of vibrational cooled HeH+ and H3 + ions at 20 keV from residual gas atoms has been measured in the Frankfurt Low Energy Storage Ring (FLSR). At a vacuum in the order of few 10-11 mbar, this residual gas consists to 99% of H2 molecules. For the identification of the recoil products of this reaction, a recoil spectrometer (with an MCP-detector with position and time sensitive read out) was installed at one of the focus points (IP) in the FLSR. The planned extension of this set up by a gas target to a full COLTRIMS reaction microscope will be discussed.
The toolbox for imaging molecules is well-equipped today. Some techniques visualize the geometrical structure, others the electron density or electron orbitals. Molecules are many-body systems for which the correlation between the constituents is decisive and the spatial and the momentum distribution of one electron depends on those of the other electrons and the nuclei. Such correlations have escaped direct observation by imaging techniques so far. Here, we implement an imaging scheme which visualizes correlations between electrons by coincident detection of the reaction fragments after high energy photofragmentation. With this technique, we examine the H2 two-electron wave function in which electron–electron correlation beyond the mean-field level is prominent. We visualize the dependence of the wave function on the internuclear distance. High energy photoelectrons are shown to be a powerful tool for molecular imaging. Our study paves the way for future time resolved correlation imaging at FELs and laser based X-ray sources.
Access to loans and other financial services is extremely valuable for micro-, small- and medium-sized enterprises in developing and transition countries as it enables their owners as well as their employees to exploit their economic potential and to increase their income. Although this insight has lead development aid institutions to undertake many attempts to create sustainable microfinance institutions, only a small fraction of these has been successful so far. This article analyses what determines the success of attempts to provide financial services in general, and credit in particular, to low income target groups in these countries. We argue that it is crucial to understand, and to mitigate or even eliminate in practice, the serious and numerous incentive problems at the level of the lending operations as well as those at the levels of the human resource management and the governance of microfinance institutions. We attempt to show moreover, that unsolved incentive problems at only one level will ultimately undermine any potential success at the other levels. In our paper, we first analyse information and incentive problems from a theoretical perspective, using and extending the well-known Stiglitz-Weiss model of credit rationing, and derive theoretical requirements for solutions of these problems. In the light of these considerations, we then discuss how problems are solved in practice. Section 3 deals with the credit relationship. Section 4 extends the argument by showing how incentive problems within the institution can be handled, and section 5 analyses corporate governance-related problems of development finance institutions as incentive problems. In section 6 it is demonstrated why, and how, the incentive problems at the different levels, as well as their solutions, are interrelated. From this we derive the proposition that, as the institutional devices for dealing with these problems constitute a complementary system, any sustainable solution requires consistent arrangements of all elements and at all levels of the system. In the last section we will show the potential of strategic networks to set up institutions which we consider to be consistent systems for successfully solving the problems at all three levels simultaneously.
Während sich die Entwicklungsfinanzierung in Theorie und Praxis generell mit dem Finanzwesen in Entwicklungs- und Transformationsländern befasst, steht im Teilgebiet der Microfinance die Frage im Vordergrund, wie in diesen Ländern der Zugang ärmerer Bevölkerungsgruppen und speziell von Klein- und Kleinstunternehmer(innen), Kleinbauern und sonstigen wirtschaftlich Selbständigen aus eher niedrigen sozialen Schichten zu Kredit und anderen Finanzdiensleistungen verbessert werden kann. Obwohl es einige Vorläufer gibt, die schon früh die allgemeine Politik der Entwicklungsländer bezüglich ihrer Finanzsektoren und ebenso die dazu passende Entwicklungshilfe-Politik der Industrieländer der 60er und 70er Jahre mit ökonomisch-theoretischen Argumenten scharf kritisiert haben,1 waren in der Vergangenheit weder Entwicklungsfinanzierung im allgemeinen noch Microfinance im besonderen ein wirklich ernst genommener Gegenstand der ökonomischen Literatur, die man zum mainstream rechnen kann. Dem entspricht es, dass sich auch die Praxis der Entwicklungsfinanzierung sehr lange weitgehend unabhängig von ökonomisch- theoretischen Überlegungen vollzogen hat. Diese Situation hat sich seit mehr als einem Jahrzehnt grundlegend verändert. Dies hat einen wesentlichen Grund darin, dass sich in der entwicklungspolitischen Praxis auf dem Gebiet der Finanzierung von Klein- und Kleinstbetrieben, eben Microfinance, Erfolge erzielen ließen, die vorher unvorstellbar waren. Mit einer deutlichen commercial orientation und einer Ausrichtung auf die genuinen Probleme des financial institution building konnte erreicht werden, dass es inzwischen einige Dutzend Finanzinstitutionen in Entwicklungs- und Transformationsländern gibt, die ökonomisch stabil und sogar profitabel sind und mit ihrem Leistungsangebot eine große Anzahl von "armen" Kunden erreichen, die bei den Kreditabteilungen der herkömmlichen Banken kaum über die Schwelle gelassen würden.2 Dies hat die Aufmerksamkeit von Forschern aus dem mainstream erweckt. Mindestens ebenso wichtig sind aber die immanenten Entwicklungen innerhalb der ökonomischen Theorie. Mit ihrer Hinwendung zum institutionalistischen Denkansatz hat die Wirtschaftstheorie auf einmal eine neue Aufmerksamkeit für die Phänomene entwickelt, die für die Praktiker der Entwicklungsfinanzierung seit langem von zentraler Bedeutung sind: Inzwischen kann man theoretisch nachweisen, dass es in der Tat Zugangsprobleme zu Kredit für "kleine Leute" gibt, dass das Angebot von Kredit für sie beschränkt ist und dass es nicht genügt, einfach nur staatlich auferlegte Restriktionen – die so genannte financial repression – zu beseitigen, um ....
How long does it take to emit an electron from an atom? This question has intrigued scientists for decades. As such emission times are in the attosecond regime, the advent of attosecond metrology using ultrashort and intense lasers has re-triggered strong interest on the topic from an experimental standpoint. Here, we present an approach to measure such emission delays, which does not require attosecond light pulses, and works without the presence of superimposed infrared laser fields. We instead extract the emission delay from the interference pattern generated as the emitted photoelectron is diffracted by the parent ion’s potential. Targeting core electrons in CO, we measured a 2d map of photoelectron emission delays in the molecular frame over a wide range of electron energies. The emission times depend drastically on the photoelectrons’ emission directions in the molecular frame and exhibit characteristic changes along the shape resonance of the molecule.
The introduction of a common currency as well as the harmonization of rules and regulations in Europe has significantly reduced distance in all its guises. With reduced costs of overcoming space, this emphasizes centripetal forces and it should foster consolidation of financial activity. In a national context, as a rule, this led to the emergence of one financial center. Hence, Europeanization of financial and monetary affairs could foretell the relegation of some European financial hubs such as Frankfurt and Paris to third-rank status. Frankfurt’s financial history is interesting insofar as it has lost (in the 1870s) and regained (mainly in the 1980s) its preeminent place in the German context. Because Europe is still characterized by local pockets of information-sensitive assets as well as a demand for variety the national analogy probably does not hold. There is room in Europe for a number of financial hubs of an international dimension, including Frankfurt.
Gene-modified autologous hematopoietic stem cells (HSC) can provide ample clinical benefits to subjects suffering from X-linked chronic granulomatous disease (X-CGD), a rare inherited immunodeficiency characterized by recurrent, often life-threatening bacterial and fungal infections. Here we report on the molecular and cellular events observed in two young adults with X-CGD treated by gene therapy in 2004. After the initial resolution of bacterial and fungal infections, both subjects showed silencing of transgene expression due to methylation of the viral promoter, and myelodysplasia with monosomy 7 as a result of insertional activation of ecotropic viral integration site 1 (EVI1). One subject died from overwhelming sepsis 27 months after gene therapy, whereas a second subject underwent an allogeneic HSC transplantation. Our data show that forced overexpression of EVI1 in human cells disrupts normal centrosome duplication, linking EVI1 activation to the development of genomic instability, monosomy 7 and clonal progression toward myelodysplasia.
The photochemical cleavage of the endoperoxides of anthradichromene and benzodixanthene into the parent hydrocarbon and oxygen is shown to be an adiabatic photoreaction originating from an upper excited singlet state. This photochemical behaviour is described by a theory for the photochemistry of endoperoxides developed by Kearns and Khan.
The COLTRIMS Reaction Microscope C-REMI can image the momentum vectors of all emitted charged fragments in an atomic or molecular reactions similar to the bubble chamber in high energy particle physics. C-REMI can detect fragments with “zero” kinetic energy in an ultrahigh vacuum environment by projecting them with weak electromagnetic fields onto position-sensitive detectors. Geometrically a nearly 4π collection solid angle and a nearly 50% efficiency for a fivefold multi-coincidence can be achieved. Measuring time-of-flight and detector position the momenta of the fragments can be measured with excellent resolution (<0.01 a.u.; see A1 in the Appendix). Thus, multivector correlations in momentum space are measured, which provide insight into the entangled dynamics of atomic and molecular quantum systems. From these vector-correlations phases and energies can be deduced which allow for relative time measurements even in the zeptosecond range. C-REMI provides a “spyhole” into the secrets of ultrafast dynamics of atomic and molecular processes. It is applied today around the globe in numerous research projects in physics and chemistry. The purpose for writing this article is to demonstrate the universal application possibilities of C-REMI, and its high multi-coincidence efficiency and high momentum resolution. This paper will not give a review on all milestone experiments performed with C-REMI.
A small electrostatic storage ring is the central machine of the Frankfurt Ion Storage Experiments (FIRE) which will be built at the new Stern-Gerlach Center of Frankfurt University. As a true multiuser, multipurpose facility with ion energies up to 50 keV, it will allow new methods to analyze complex many-particle systems from atoms to very large biomolecules. With envisaged storage times of some seconds and beam emittances in the order of a few mm mrad, measurements with up to 6 orders of magnitude better resolutions as compared to single-pass experiments become possible. In comparison to earlier designs, the ring lattice was modified in many details: Problems in earlier designs were related to, e.g., the detection of light particles and highly charged ions with different charge states. Therefore, the deflectors were redesigned completely, allowing a more flexible positioning of the diagnostics. Here, after an introduction to the concept of electrostatic machines, an overview of the planned FIRE is given and the ring lattice and elements are described in detail.
When a very strong light field is applied to a molecule an electron can be ejected by tunneling. In order to quantify the time-resolved dynamics of this ionization process, the concept of the Wigner time delay can be used. The properties of this process can depend on the tunneling direction relative to the molecular axis. Here, we show experimental and theoretical data on the Wigner time delay for tunnel ionization of H2 molecules and demonstrate its dependence on the emission direction of the electron with respect to the molecular axis. We find, that the observed changes in the Wigner time delay can be quantitatively explained by elongated/shortened travel paths of the emitted electrons, which occur due to spatial shifts of the electrons’ birth positions after tunneling. Our work provides therefore an intuitive perspective towards the Wigner time delay in strong-field ionization.
Abrasion-ablation models and the empirical EPAX parametrization of projectile fragmentation are described. Their cross section predictions are compared to recent data of the fragmentation of secondary beams of neutron-rich, unstable 19,20,21O isotopes at beam energies near 600 MeV/nucleon as well as data for stable 17,18O beams.
Stakeholderorientierung, Systemhaftigkeit und Stabilität der Corporate Governance in Deutschland
(2006)
Since the time of Germany’s belated industrialisation, corporate governance in Germany has been stakeholder oriented in the dual sense of attaching importance to the interests of stakeholders who are not at the same time shareholders, and of providing certain opportunities for these stakeholders to influence corporate decisions. Corporate governance is also systemic. It is a system of elements that are complementary to each other, and also consistent. In other word, it is composed of elements for which it is important that they fit together well, and in the German case these elements did fit together well until quite recently. Corporate governance as a system is itself an element of the German bank-based financial system at large and possibly even of the entire German business and economic system. Stakeholder orientation of governance is consistent with the general structure this system, and even represents one of its central elements. In retrospect, German corporate governance has also proved to be surprisingly stable. Its fundamental traits date back to the turn from the 19th to the 20th century. There are strong reasons to assume that the systemic features, that is, its complementarity and consistency, have greatly contributed to its past stability. Since about ten years now, there are growing tendencies to question the viability and stability of the German corporate governance system and even the financial system as a whole. One of the central topics in the new debate concerns the stakeholder orientation of the system, which some observers and critics consider as the main weakness of the “German model” under the increasing pressures of globalisation and European integration. As far as their development over time is concerned, systems of complementarity elements exhibit certain peculiarities: (1) They do not adjust easily to changing circumstances. (2) Changes concerning important individual elements, such as the stakeholder orientation of governance, tend to jeopardize the viability and the stability of the entire system. (3) While they appear to be stable, systems shaped by complementary may simply be rigid and tend to break under strong external pressure. “Breaking” means that a system undergoes a fundamental transformation. It seems plausible to assume that the German financial system is already in the middle of such a transformation. It is yet another consequence of its systemic character that this transformation is not likely to be a smooth and gradual process and that it will not lead to a “mixed model” but rather to the adoption of a capital market-based financial system as it prevails in the Anglo-Saxon countries. In such a system, corporate governance cannot be geared to catering to the interests of stakeholders, and an active role for them would not even make any economic sense.
Pensions- und Finanzsysteme in Europa : ein Vergleich unter dem Gesichtspunkt der Komplementarität
(2001)
Die Debatte über die optimale Ausgestaltung der Alterssicherung wird in jüngster Zeit äußerst kontrovers und hitzig geführt. Dabei scheint uns ein zentraler Aspekt nicht genügend beachte zu werden: Welcher Zusammenhang besteht zwischen den Merkmalen des Finanzsystems und des Pensionssystems eines Landes? Weil dieser Zusammenhang wichtig sein könnte, wird in diesem Beitrag untersucht, ob es Unterschiede zwischen den Finanz- und Pensionssystemen in drei großen europäischen Ländern, Deutschland, Frankreich und Großbritannien, gibt, ob sich diese Unterschiede in charakteristischer Weise entsprechen und ob sich über diese Entsprechungen hinaus auch Wechselwirkungen zwischen dem Finanzsystem und dem Pensionssystem eines Landes nachweisen lassen.
Zur Beantwortung dieser Fragen wird in einem ersten Schritt kurz die Unterschiedlichkeit der Finanz- und Pensionssysteme zwischen den drei Ländern skizziert, und es werden parallelen zwischen diesen Unterschieden nachgewiesen. Daran anschließend werden die Zusammenhänge zwischen der Ausgestaltung der gesetzlichen Alterssicherung und der volkswirtschaftlichen Risikoallokation sowie der Ausgestaltung der betrieblichen Alterssicherung für die Unternehmensstrategien, -finanzierung und –verfassung betrachtet. Dabei lässt sich zeigen, dass es sowohl in Deutschland als auch in Großbritannien eine – wenn auch vollkommen unterschiedlich ausgeprägte – Komplementarität zwischen Finanz- und Pensionssystem gibt, während sich ein solcher Zusammenhang für Frankreich nicht konstatieren lässt. Abschließend werden wirtschaftspolitische Implikationen dieses Zusammenhangs angesprochen
Bericht der Arbeitsgruppe Technik zur Vorbereitung des Programms "Retrospektive Digitalisierung von Bibliotheksbeständen" im Förderbereich "Verteilte Digitale Forschungsbibliothek" Arbeitssitzungen am 14. Mai 1996 (Frankfurt a. M.), 29.-30. Juli 1996 (München), 12.-13. Dezember 1996 (Göttingen) Mitglieder der Arbeitsgruppe: Prof. Dr. Rudolf Bayer, Technische Universität München, Fakultät für Informatik Dr. Jürgen Bunzel, Deutsche Forschungsgemeinschaft, Bonn Dr. Marianne Dörr, Bayerische Staatsbibliothek München Dr. Reinhard Ecker, Beilstein-Institut bzw. ABC Datenservice GmbH, Frankfurt/Main Dipl.-Math. Heinz-Werner Hoffmann, Hochschulbibliothekszentrum NRW, Köln (als Gast für die AG der Verbundsysteme) Dr. Norbert Lossau, Niedersächsische Staats- und Universitätsbibliothek Göttingen (DFG-Projekt ‘Verteilte Digitale Forschungsbibliothek’) Prof. Dr. Elmar Mittler, Niedersächsische Staats- und Universitätsbibliothek Göttingen Dipl.-Inf. Christian Mönch, FB Informatik der J.W. Goethe-Universität Frankfurt Dr. Wilhelm R. Schmidt, Stadt- und Universitätsbibliothek Frankfurt Dr. Hartmut Weber, Landesarchivdirektion, Stuttgart
The nucleosynthesis of elements beyond iron is dominated by neutron captures in the s and r processes. However, 32 stable, proton-rich isotopes cannot be formed during those processes, because they are shielded from the s-process flow and r-process β-decay chains. These nuclei are attributed to the p and rp process.
For all those processes, current research in nuclear astrophysics addresses the need for more precise reaction data involving radioactive isotopes. Depending on the particular reaction, direct or inverse kinematics, forward or time-reversed direction are investigated to determine or at least to constrain the desired reaction cross sections.
The Facility for Antiproton and Ion Research (FAIR) will offer unique, unprecedented opportunities to investigate many of the important reactions. The high yield of radioactive isotopes, even far away from the valley of stability, allows the investigation of isotopes involved in processes as exotic as the r or rp processes.
The photoelectric effect describes the ejection of an electron upon absorption of one or several photons. The kinetic energy of this electron is determined by the photon energy reduced by the binding energy of the electron and, if strong laser fields are involved, by the ponderomotive potential in addition. It has therefore been widely taken for granted that for atoms and molecules, the photoelectron energy does not depend on the electron’s emission direction, but theoretical studies have questioned this since 1990. Here, we provide experimental evidence that the energies of photoelectrons emitted against the light propagation direction are shifted toward higher values, while those electrons that are emitted along the light propagation direction are shifted to lower values. We attribute the energy shift to a nondipole contribution to the ponderomotive potential that is due to the interaction of the moving electrons with the incident photons.
The association of Schlen k’s hydrocarbon was studied by means of osmometric and magnetic measurements. The mixed chain-ring-association can be explained satisfactorily assuming that two different dimers and four monomer species participate in the equilibria, including a monomeric diamagnetic ring. The equilibria existing between the different species are discussed. For the equilibria between the monomer and dimer species, which can be detected in solutions of normal viscosity by means of ESR-measurements, the unexpected values of ΔH=0 for the enthalpie of association and ΔS= +19.7 e. u. for the entropie of association were found.
The influence of temperatur and pressure on the fluorescence quantum yield of N-methylacridone (9,10-dihydro-9-oxo-10-methyl-acridine) in toluene in the range of 283-313 K and 1 bar to 2.5 kbar, respectively, has been investigated. Treatment of the data in terms of the Eyring transition-state theory leads to a consistent interpretation of the observed effect. The unusually large increase of the quantum yield with increasing pressure is attributed to a positive volume of activation, ⊿V≠, for the thermally activated S1-T2 intersystem crossing which is known to be the only deactivation process (of the Si-state) competing with fluorescence. Comparison of the values for ⊿H≠, the activation enthalpy of this process, determined at various pressures, indicates a decrease in ⊿H≠ at elevated pressures. Since ⊿H≠ can be associated with the S1-T2 energy gap involved in intersystem crossing, this result further confirms the conclusion that the change in Franck-Condon factors alone cannot account for the decrease in the intersystem crossing rate with increasing pressure.
The thermal and the photochemical reactions of the endoperoxide of Tetrabenzo(bc,fg.lm,pq)- pentacene have been investigated with respect to its photochromic properties. The thermal yield of irreversible rearrangement reactions was determined to be Adec = 0.045. From the activation parameters of the thermal cycloreversion. forming the parent hydrocarbon and oxygen, a half life time of 114 years at 20 °C has been extrapolated. For the quantum yield of the irreversible photochemical rearrangement a value of Qdec = 0.03 was obtained. As can be seen from the wavelength dependence of the photocycloreversion quantum yield Q1, cycloreversion occurs not only from the thermalized S2(πccπ*cc) but from higher excited states too. The maximum quantum yield was found at 302 nm to be (Q1 = 0.15. From our results it follows that this endoperoxide is of high quality in respect to the colour change colourless/blue and to thermal stability, whereas the reversibility is only moderate.