Binding-in the private sector

Haldane, Andrew; Hayes, Simon; Penalver, Adrian; Saporta, Victoria; Shin, Hyun Song

doi:10.4324/9780203390634_chapter_9

Cited by 20 publications

(35 citation statements)

References 17 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Another possible instability is to pairing as in BCS theory. This has been argued by PH [27], who found numerically that bosons at ν = 1 tend to form a ground state with high overlap with the Pfaffian state, a paired state which is presumably incompressible. However, for some interactions, such pairing may either not occur, or be very weak so that it occurs only at very low energies, and then the present results for the "normal" Fermi-liquid-like state will still apply at higher energies, temperatures, or wavevectors.…”

Section: A Hartree-fock Approximationmentioning

confidence: 75%

“…While it is perhaps not as simple-minded as one would want, it does make close contact with the work just cited [12]. Here we start from an approach of Pasquier and Haldane (PH) [26,27], that gives an exact representation of the LLL problem in the case of charged bosons in a magnetic field at ν = 1, where a Fermi liquid (FL) state is possible. Although our paper is long and fairly detailed, we can give a succinct summary of our results.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Lowest-Landau-level theory of the quantum Hall effect: The Fermi-liquid-like state of bosons at filling factor one

1998

View full text Add to dashboard Cite

A theory for a Fermi-liquid-like state in a system of charged bosons at filling factor one is developed, working in the lowest Landau level. The approach is based on a representation of the problem as fermions with a system of constraints, introduced by Pasquier and Haldane (unpublished). This makes the system a gauge theory with gauge algebra W∞. The low-energy theory is analyzed based on Hartree-Fock and a corresponding conserving approximation. This is shown to be equivalent to introducing a gauge field, which at long wavelengths gives an infinite-coupling U(1) gauge theory, without a Chern-Simons term. The system is compressible, and the Fermi-liquid properties are similar, but not identical, to those in the previous U(1) Chern-Simons fermion theory. The fermions in the theory are effectively neutral but carry a dipole moment. The density-density response, longitudinal conductivity, and the current density are considered explicitly.

show abstract

Section: A Hartree-fock Approximationmentioning

confidence: 75%

Section: Introductionmentioning

confidence: 99%

Lowest-Landau-level theory of the quantum Hall effect: The Fermi-liquid-like state of bosons at filling factor one

1998

View full text Add to dashboard Cite

show abstract

“…23 The welfare cost of undertaking action A is Ψ. This cost falls on the government only, and is motivated by exogenous considerations, say, electoral costs of reforms and fiscal adjustment.…”

Section: Liquidity and Moral Hazardmentioning

confidence: 99%

International Lending of Last Resort and Moral Hazard: A Model of IMF's Catalytic Finance

Corsetti

Guimarães

Roubini

2003

View full text Add to dashboard Cite

It is often argued that the provision of liquidity by the international institutions such as the IMF to countries experiencing balance of payment problems can have catalytic effects on the behavior of international financial markets, i.e., it can reduce the scale of liquidity runs by inducing investors to roll over their financial claims to the country. Critics point out that official lending also causes moral hazard distortions: expecting to be bailed out by the IMF, debtor countries have weak incentives to implement good but costly policies, thus raising the probability of a crisis. This paper presents an analytical framework to study the trade-off between official liquidity provision and debtor moral hazard. In our model international financial crises are caused by the interaction of bad fundamentals, self-fulfilling runs and policies by three classes of optimizing agents: international investors, the local government and the IMF. We show how an international financial institution helps prevent liquidity runs via coordination of agents' expectations, by raising the number of investors willing to lend to the country for any given level of the fundamental. We show that the influence of such an institution is increasing in the size of its interventions and the precision of its information: more liquidity support and better information make agents more willing to roll over their debt and reduces the probability of a crisis. Different from the conventional view stressing debtor moral hazard, we show that official lending may actually strengthen a government incentive to implement desirable but costly policies. By worsening the expected return on these policies, destructive liquidity runs may well discourage governments from undertaking them, unless they can count on contingent liquidity assistance.

show abstract

“…In particular, spin and charge are expected to correspond to separate degrees of freedom and any microscopic coupling between them should be irrelevant. As a consequence, dilute holes that are doped into a correlated spin chain should act as a gas of noninteracting spinless solitons, 11 where the coupling to the nontrivial spin background only gives rise to a renormalization of the effective hole mass. This phenomenon has been observed in integrable models such as the Hubbard model.…”

Section: Introductionmentioning

confidence: 99%

Lightly doped dimerized spin chain in the one-dimensionalt−J−J′model

Seidel¹,

Lee²

2004

Phys. Rev. B

View full text Add to dashboard Cite

We study the one-dimensional t-J-JЈ-model in the limit of small hole doping x and small J/t, JЈ/t. Special emphasis is put on the regime JЈ/JϷ0.5, where a spin gap is present at small doping and the undoped spin chain is strongly dimerized. Using a perturbative approach and Luttinger liquid arguments, we demonstrate for this nonintegrable class of models that the charge degrees of freedom behave as noninteracting spinless solitons in the dilute hole limit. Our approach is also used to evaluate the energy and mass renormalization of a single hole. Interestingly, the corrections of these quantities are in powers of ͱJ/t. At JЈ/Jϭ0.5 we construct a variational spin-polaron wave function for the hole and find good agreement with our perturbative results.

show abstract

Binding-in the private sector

Cited by 20 publications

References 17 publications

Lowest-Landau-level theory of the quantum Hall effect: The Fermi-liquid-like state of bosons at filling factor one

Lowest-Landau-level theory of the quantum Hall effect: The Fermi-liquid-like state of bosons at filling factor one

International Lending of Last Resort and Moral Hazard: A Model of IMF's Catalytic Finance

Lightly doped dimerized spin chain in the one-dimensionalt−J−J′model

Contact Info

Product

Resources

About