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The Transition Radiation Detector (TRD) was designed and built to enhance the capabilities of the ALICE detector at the Large Hadron Collider (LHC). While aimed at providing electron identification and triggering, the TRD also contributes significantly to the track reconstruction and calibration in the central barrel of ALICE. In this paper the design, construction, operation, and performance of this detector are discussed. A pion rejection factor of up to 410 is achieved at a momentum of 1 GeV/c in p-Pb collisions and the resolution at high transverse momentum improves by about 40% when including the TRD information in track reconstruction. The triggering capability is demonstrated both for jet, light nuclei, and electron selection.
The Transition Radiation Detector (TRD) was designed and built to enhance the capabilities of the ALICE detector at the Large Hadron Collider (LHC). While aimed at providing electron identification and triggering, the TRD also contributes significantly to the track reconstruction and calibration in the central barrel of ALICE. In this paper the design, construction, operation, and performance of this detector are discussed. A pion rejection factor of up to 410 is achieved at a momentum of 1 GeV/c in p-Pb collisions and the resolution at high transverse momentum improves by about 40% when including the TRD information in track reconstruction. The triggering capability is demonstrated both for jet, light nuclei, and electron selection.
The Transition Radiation Detector (TRD) was designed and built to enhance the capabilities of the ALICE detector at the Large Hadron Collider (LHC). While aimed at providing electron identification and triggering, the TRD also contributes significantly to the track reconstruction and calibration in the central barrel of ALICE. In this paper the design, construction, operation, and performance of this detector are discussed. A pion rejection factor of up to 410 is achieved at a momentum of 1 GeV/c in p–Pb collisions and the resolution at high transverse momentum improves by about 40% when including the TRD information in track reconstruction. The triggering capability is demonstrated both for jet, light nuclei, and electron selection.
The first measurement of two-pion Bose–Einstein correlations in central Pb–Pb collisions at √sNN=2.76 TeV at the Large Hadron Collider is presented. We observe a growing trend with energy now not only for the longitudinal and the outward but also for the sideward pion source radius. The pion homogeneity volume and the decoupling time are significantly larger than those measured at RHIC.
Inclusive transverse momentum spectra of primary charged particles in Pb–Pb collisions at √sNN=2.76 TeV have been measured by the ALICE Collaboration at the LHC. The data are presented for central and peripheral collisions, corresponding to 0–5% and 70–80% of the hadronic Pb–Pb cross section. The measured charged particle spectra in |η|<0.8 and 0.3<pT<20 GeV/c are compared to the expectation in pp collisions at the same sNN, scaled by the number of underlying nucleon–nucleon collisions. The comparison is expressed in terms of the nuclear modification factor RAA. The result indicates only weak medium effects (RAA≈0.7) in peripheral collisions. In central collisions, RAA reaches a minimum of about 0.14 at pT=6–7 GeV/c and increases significantly at larger pT. The measured suppression of high-pT particles is stronger than that observed at lower collision energies, indicating that a very dense medium is formed in central Pb–Pb collisions at the LHC.
The inclusive charged particle transverse momentum distribution is measured in proton–proton collisions at s=900 GeV at the LHC using the ALICE detector. The measurement is performed in the central pseudorapidity region (|η|<0.8) over the transverse momentum range 0.15<pT<10 GeV/c. The correlation between transverse momentum and particle multiplicity is also studied. Results are presented for inelastic (INEL) and non-single-diffractive (NSD) events. The average transverse momentum for |η|<0.8 is 〈pT〉INEL=0.483±0.001 (stat.)±0.007 (syst.) GeV/c and 〈pT〉NSD=0.489±0.001 (stat.)±0.007 (syst.) GeV/c, respectively. The data exhibit a slightly larger 〈pT〉 than measurements in wider pseudorapidity intervals. The results are compared to simulations with the Monte Carlo event generators PYTHIA and PHOJET.
Rapidity and transverse momentum dependence of inclusive J/ψ production in pp collisions at √s=7 TeV
(2011)
The ALICE experiment at the LHC has studied inclusive J/ψ production at central and forward rapidities in pp collisions at √s=7 TeV. In this Letter, we report on the first results obtained detecting the J/ψ through the dilepton decay into e+e− and μ+μ− pairs in the rapidity ranges |y|<0.9 and 2.5<y<4, respectively, and with acceptance down to zero pT. In the dielectron channel the analysis was carried out on a data sample corresponding to an integrated luminosity Lint=5.6 nb−1 and the number of signal events is NJ/ψ=352±32(stat.)±28(syst.); the corresponding figures in the dimuon channel are Lint=15.6 nb−1 and NJ/ψ=1924±77(stat.)±144(syst.). The measured production cross sections are σJ/ψ(|y|<0.9)=10.7±1.0(stat.)±1.6(syst.)−2.3+1.6(syst.pol.)μb and σJ/ψ(2.5<y<4)=6.31±0.25(stat.)±0.76(syst.)−1.96+0.95(syst.pol.)μb. The differential cross sections, in transverse momentum and rapidity, of the J/ψ were also measured.
A central motivation for the development of x-ray free-electron lasers has been the prospect of time-resolved single-molecule imaging with atomic resolution. Here, we show that x-ray photoelectron diffraction—where a photoelectron emitted after x-ray absorption illuminates the molecular structure from within—can be used to image the increase of the internuclear distance during the x-ray-induced fragmentation of an O2 molecule. By measuring the molecular-frame photoelectron emission patterns for a two-photon sequential K-shell ionization in coincidence with the fragment ions, and by sorting the data as a function of the measured kinetic energy release, we can resolve the elongation of the molecular bond by approximately 1.2 a.u. within the duration of the x-ray pulse. The experiment paves the road toward time-resolved pump-probe photoelectron diffraction imaging at high-repetition-rate x-ray free-electron lasers.
This paper discusses the effect of capital regulation on the risk taking behavior of commercial banks. We first theoretically show that capital regulation works differently in different market structures of banking sectors. In lowly concentrated markets, capital regulation is effective in mitigating risk taking behavior because banks' franchise values are low and banks have incentives to pursue risky strategies in order to increase their franchise values. If franchise values are high, on the other hand, the effect of capital regulation on bank risk taking is ambiguous as banks lack those incentives. We then test the model predictions on a cross-country sample including 421 commercial banks from 61 countries. We find that capital regulation is effective in mitigating risk taking only in markets with a low degree of concentration. The results remain robust after accounting for financial sector development, legal system effciency, and for other country and bank-specific characteristics. Keywords: Banks, market structure, risk shifting, franchise value, capital regulation
Meeting Abstract : Deutscher Kongress für Orthopädie und Unfallchirurgie ; 73. Jahrestagung der Deutschen Gesellschaft für Unfallchirurgie ; 95. Tagung der Deutschen Gesellschaft für Orthopädie und Orthopädische Chirurgie ; 50. Tagung des Berufsverbandes der Fachärzte für Orthopädie und Unfallchirurgie ; 21. - 24.10.2009, Berlin Fragestellung: Ziel war die Evaluierung der funktionellen und radiologischen Ergebnisse nach osteosynthestischer Versorgung von Olecranonfrakturen mit einer zur Hakenplatte modifizierten Drittelrohrplatte. Methodik: In einem Zeitraum von 12 Monaten wurden 29 Patienten mit Olecranonfrakturen prospektiv erfasst und eine Osteosynthese mit einer zur Hakenplatte modifizierten Kleinfragment-Drittelrohrplatte durchgeführt. Eine additive Verschraubung von zusätzlichen Fragmenten erfolgte bei 6 Patienten (20%). Das mittlere Patientenalter zum Unfallzeitpunkt betrug 50 Jahre (Min 29/ Max 83). Unter Verwendung der Frakturklassifikation nach Schatzker stellte sich in 8 Fällen (28%) eine Querfraktur vom Typ A, in 6 Fällen (20%) eine Querfraktur mit Impaktion vom Typ B und in 15 Fällen (52%) eine Mehrfragmentfraktur vom Typ D dar. Bei 4 Patienten (14%) lag eine offene Fraktursituation vor. Nach im Mittel 7,2 Monaten (Min 6/ Max 8) wurde das funktionelle Outcome anhand des Mayo Elbow Performence Scores (MEPS), der visuellen Analogskala (VAS) und des Disabilities of the Arm, Shoulder and Hand Scores (DASH) bewertet sowie die radiologischen Befunde erhoben. Ergebnisse und Schlussfolgerungen: Das Ziel einer primär übungsstabilen Osteosynthese konnte bei allen Patienten erreicht werden. Unter Verwendung des MEPS wurden annähernd ausschließlich sehr gute (12 Fälle/41%) und gute (16 Fälle/55%) Ergebnisse erzielt. Lediglich bei einem Patienten ergab sich ein nur befriedigendes Ergebnis. Der mittlere Punktwert für den MEPS betrug 91,4 (Min 65/Max 100). In der VAS konnte ein Mittelwert von 8,2 Punkten (Min 7/Max 10) erzielt werden (0=keine Zufriedenheit, 10=volle Zufriedenheit). Der mittlere DASH-Wert betrug 16,2 Punkte (Min 0/Max 39). Der mittlere Bewegungsumfang betrug für Extension/Flexion bei einem durchschnittlichen Streckdefizit von 8° (Min 0°/Max 25°) und einer Beugung von 135° (Min 105°/Max 155°) 125° (Min 90°/Max 155°). Die Unterarmumwendbewegungen waren mit 175° (Min 165°/Max 180°) kaum eingeschränkt. Bei keinem Patienten gab es postoperative Komplikationen. Eine zur Hakenplatte modifizierte Drittelrohrplatte stellt im Gegensatz zu präformierten, winkelstabilen Implantaten eine kostengünstige Alternative zur Osteosynthese bei Olecranonfrakturen dar. Auch bei komplexen mehrfragmentären Frakturtypen und osteoporotischer Knochenqualität konnte so im nachuntersuchten Kollektiv eine sichere Frakturretention erzielt werden. Hinsichtlich des funktionellen Ergebnisses profitieren die Patienten von einer dadurch unmittelbar postoperativ möglichen, physiotherapeutischen Nachbehandlung. Das für die Hakenplatte benötigte Osteosynthesematerial (Kleinfragment-Drittelrohrplatte) ist nahezu überall verfügbar und lässt sich in kurzer Zeit der individuellen Anatomie und Frakturmorphologie anpassen. Eine Drahtmigration, wie bei der weit verbreiteten Zuggurtungsosteosynthese häufig beobachtet, ist ausgeschlossen.
This paper discusses the so-called commercial approach to microfinance under economic and ethical aspects. It first shows how microfinance has developed from a purely welfare-oriented activity to a commercially relevant line of banking business. The background of this stunning success is the – almost universal – adoption of the so-called commercial approach to microfinance in the course of the last decade. As the author argues, this commercial approach is the only sound approach to adopt if one wanted microfinance to have any social and developmental impact, and therefore the wide-spread “moralistic” criticism of the commercial approach, which has again and again been expressed in the 1990s, is ill-placed from an economic and an ethical perspective. However, some recent events in microfinance raise doubts as to whether the commercial approach has not, in a number of cases, gone too far. The evident example for such a development is the Mexican microfinance institution Compartamos, which recently undertook a financially extremely successful IPO. As it seems, some microfinance institutions have by now become so radically commercial that all of those social and development considerations, which have traditionally motivated work in the field of microfinance, seem to have lost their importance. Thus there is a conflict between commercial and developmental aspirations. However, this conflict is not inevitable. The paper concludes by showing that, and how, a microfinance institution can try to combine using the strengths of the capital market and at the same time maintaining its developmental focus and importance.
Meeting Abstract : Deutscher Kongress für Orthopädie und Unfallchirurgie ; 73. Jahrestagung der Deutschen Gesellschaft für Unfallchirurgie ; 95. Tagung der Deutschen Gesellschaft für Orthopädie und Orthopädische Chirurgie ; 50. Tagung des Berufsverbandes der Fachärzte für Orthopädie und Unfallchirurgie ; 21. - 24.10.2009, Berlin Fragestellung: Evaluierung der intraoperativen Bildgebung mit einem motorgesteuerten 3D-Bildwandlersystem hinsichtlich des klinischen Zusatznutzens sowie der Praktikabilität bei der Versorgung intraartikulärer Frakturen im Bereich des OSG und USG. Methodik: In einer prospektiven klinischen Studie wurde bei 36 Patienten mit intraartikulärer Fraktur im Bereich von OSG und USG die intraoperative Bildgebung mit einem 3D-Bildwandler der neuesten Generation (Siemens® Arcadis Orbic 3D) im Rahmen der indizierten operativen Versorgung durchgeführt. Die Frakturen wurden unfallchirurgisch durch erfahrene Operateure mit Hilfe konventioneller 2D-Bildgebung reponiert und osteosynthetisch versorgt. Anschließend erfolgte vor Wundverschluss die Generierung des hochauflösenden multiplanaren 3D-Bilddatensatzes aus 100 Einzeldurchleuchtungen, welche im Rahmen einer einminütigen Rotation um das Untersuchungsgebiet akquiriert wurden. Die Bildanalyse hinsichtlich Reposition und Implantatlage erfolgte durch den Operateur. Sofern aufgrund der gewonnenen Informationen die Revisionsindikation bestand, erfolgte diese unmittelbar im Anschluss. Neben der Korrekturrate wurde die subjektive Wertigkeit der 3D-Bildgebung durch den Operateur ferner anhand des benötigten Zeitbedarfs, der Beurteilung des klinischen Nutzens (VAS 1–10) und der Benutzerfreundlichkeit (VAS 1–10) beurteilt. Ergebnisse und Schlussfolgerungen: Insgesamt wurde die 3D-Bildgebung bei der operativen Versorgung von 36 Frakturen eingesetzt (Pilon tibiale: n=10, bi-/trimalleoläre OSG-Luxationsfrakturen: n=8, Talus: n=4, Calcaneus: n=14). In 9 von 36 Fällen (25%) wurde auf Basis der Bildgebungsinformationen durch den Operateur die Indikation zur Revision der Reposition oder Implantatlage gestellt. Weitere osteosynthesebedingte Revisionen waren im postoperativen Verlauf nicht indiziert. Mit einer Ausnahme zeigte sich das Bildwandlersystem stets stabil und ohne technische Probleme. Die zusätzliche OP-Zeit lag im Mittel bei 9 Minuten (6,5–15 Minuten). Die erforderliche Untersuchungszeit sank tendenziell mit zunehmender Anwendung, eine entsprechend steile Lernkurve war ableitbar. Die 3D-Bilgebung wurde bei allen Eingriffen als sehr hilfreich betrachtet, der Mittelwert auf der VAS bezüglich des klinischen Zusatznutzens lag bei 8,3 (6–10), bezüglich der Benutzerfreundlichkeit bei 8,7 (7–10). Die 3D-Bildgebung stellt ein sicheres und zuverlässiges Verfahren zur intraoperativen Evaluierung der osteosynthetischen Versorgung im Bereich des OSG und USG dar und kann ein etwaig indiziertes strahlenintensiveres CT postoperativ ersetzen. Die sichere Identifikation von Fehlstellungen und Implantatfehllagen ermöglicht noch im OP die sofortige Revision. Die Anwendung ist einfach zu erlernen und verlängert die OP-Dauer lediglich in überschaubarem Umfang. Den hohen Investitionskosten steht somit bei regelmäßiger Anwendung ein bedeutsames Kosteneinsparpotenzial gegenüber.
At present, the question of how national pension or retirement payment systems should be organised is being hotly debated in various countries, and opinions vary widely as to what should be regarded as the optimal design for such systems. It appears to the authors of the present paper that in this entire discussion one aspect is largely overlooked: What relationships exist between the pension system and the financial system in a given country? As such relationships might prove to be important, the present paper investigates the following questions: (1) Are there differences between the national pension systems of three major European countries – Germany, France and the U.K. – and between the financial systems of these countries? (2) And if the existence of such differences can be demonstrated, is there a correspondence between the differences with respect to the various national pension systems and the differences as regards the countries’ financial systems? (3) And if such a correspondence exists, is there any kind of interrelationship between the national financial and pension systems of the individual countries which goes beyond a mere correspondence? Looking mainly at two aspects – namely, risk allocation and the incentives to create human capital – the authors of this paper argue (1) that there are indeed considerable differences between the financial and pension systems of the three countries; (2) that in both Germany and the U.K. there are also systematic correspondences between the respective pension systems and financial systems and their economic characteristics, but that such a correspondence cannot be identified in the case of France; and (3) that these parallels are, in the final analysis, based on complementarities and are therefore likely to contribute to the efficiency of the German and the British systems. The paper concludes with a brief look at policy implications which the existence of, or the lack of, consistency between national pension systems and national financial systems might have.
Since the beginning of the 1990s, it has been widely expected that the implementation of the European Single Market would lead to a rapid convergence of Europe’s financial systems. In the present paper we will show that at least in the period prior to the introduction of the common currency this expected convergence did not materialise. Our empirical studies on the significance of various institutions within the financial sectors, on the financing patterns of firms in various countries and on the predominant mechanisms of corporate governance, which are summarised and placed in a broader context in this paper, point to few, if any, signs of a convergence at a fundamental or structural level between the German, British and French financial systems. The German financial system continues to appear to be bank-dominated, while the British system still appears to be capital market-dominated. During the period covered by the research, i.e. 1980 – 1998, the French system underwent the most far-reaching changes, and today it is difficult to classify. In our opinion, these findings can be attributed to the effects of strong path dependencies, which are in turn an outgrowth of relationships of complementarity between the individual system components. Projecting what we have observed into the future, the results of our research indicate that one of two alternative paths of development is most likely to materialise: either the differences between the national financial systems will persist, or – possibly as a result of systemic crises – one financial system type will become the dominant model internationally. And if this second path emerges, the Anglo-American, capital market-dominated system could turn out to be the “winner”, because it is better able to withstand and weather crises, but not necessarily because it is more efficient.
Wenn man untersuchen möchte, ob sich die Finanzsysteme verschiedener Länder im Verlauf der letzten Jahre aneinander angeglichen haben oder demnächst angleichen werden, braucht man ein Konzept zur Beschreibung von Finanzsystemen, durch das wesentliche Strukturen, deren Unterschiede und Veränderungen erkennbar werden, ohne dabei in "Systemgeschwafel" (D. Schneider) abzugleiten. Wir haben dafür das Konzept der Komplementarität als nützlich identifiziert. Der Beitrag stellt dieses Konzept vor und soll und seine Eignung belegen. Letztlich geht es dabei auch um die Frage, ob reale Finanzsysteme konsistente Systeme mit komplementären Elementen darstellen. Nach der Vorstellung der formalen Konzepte der Komplementarität und der Konsistenz wird "das Finanzsystem" auf seine Komple mentarität untersucht. Dazu wird ein Finanzsystem aus der Sicht von Unternehmen des nichtfinanziellen Sektors als ein System gekennzeichnet, das aus drei Teilsystemen besteht. Das erste Teilsystem ist das Finanzierungssystem einschließlich Finanzsektor und Mustern der Unternehmensfinanzierung, das zweite das Corporate Governance-System und das dritte das Unternehmens-Strategie-System. Für alle drei Teilsysteme wird – allgemein und mit Bezug auf die Finanzsysteme Deutschlands, Japans und der USA - gezeigt, inwieweit die Elemente der betreffenden Teilsysteme untereinander komplementär sind, und geprüft, ob sie in ihren Ausprägungen auch konsistent sind, d.h. wirklich "zueinander passen". Untersucht wird auch die Komplementarität und Konsistenz zwischen den Teilsystemen selbst. Der Beitrag endet mit Überlegungen über die Anwendung des Komplementaritätskonzepts. Dass ein Finanzsystem die Eigenschaft der Komplementarität aufweist, hat nicht nur weitreichende Implikationen für die Methodik der Analyse von Finanzsystemen, sondern auch für die Vorhersehbarkeit der Entwicklung von Finanzsystemen und damit für die Wahrscheinlichkeit einer Konvergenz von Finanzsystemen, für deren Effizienzeigenschaften und für die Möglichkeiten, Finanzsysteme durch gestaltende Eingriffe zu verbessern.
Although the world of banking and finance is becoming more integrated every day, in most aspects the world of financial regulation continues to be narrowly defined by national boundaries. The main players here are still national governments and governmental agencies. And until recently, they tended to follow a policy of shielding their activities from scrutiny by their peers and members of the academic community rather than inviting critical assessments and an exchange of ideas. The turbulence in international financial markets in the 1980s, and its impact on U.S. banks, gave rise to the notion that academics working in the field of banking and financial regulation might be in a position to make a contribution to the improvement of regulation in the United States, and thus ultimately to the stability of the entire financial sector. This provided the impetus for the creation of the “U.S. Shadow Financial Regulatory Committee”. In the meantime, similar shadow committees have been founded in Europe and Japan. The specific problems associated with financial regulation in Europe, as well as the specific features which distinguish the European Shadow Financial Regulatory Committee from its counterparts in the U.S. and Japan, derive from the fact that while Europe has already made substantial progress towards economic and political integration, it is still primarily a collection of distinct nation-states with differing institutional set-ups and political and economic traditions. Therefore, any attempt to work towards a European approach to financial regulation must include an effort to promote the development of a European culture of co-operation in this area, and this is precisely what the European Shadow Financial Regulatory Committee (ESFRC) seeks to do. In this paper, Harald Benink, chairman of the ESFRC, and Reinhard H. Schmidt, one of the two German members, discuss the origin, the objectives and the functioning of the committee and the thrust of its recommendations.
Entwicklungsfinanzierung
(2000)