Consumer protection laws and regulations in deposit and loan services : a cross-country analysis with a new data set

Consumer protection and financial literacy can contribute to improved efficiency, transparency, competition, and access in retail financial markets by reducing information asymmetries and power imbalances between providers and users of financial services. Financial consumer protection has gained significance in policy debates, especially since the onset of the financial crisis in 2008. This paper presents the results of a survey on consumer protection regulations in 142 countries. The findings indicate that although consumer protection legislation is in place in the majority of countries, these do not necessarily address the issues specific to financial services. There is some evidence that enforcement powers and monitoring capacity are limited in many countries, obstructing the effective implementation of the existing regulations. Furthermore, independent third party dispute resolution mechanisms are not widespread. The paper also compiles comprehensive information on laws and regulations relevant for consumer protection and discusses a number of challenges related to empirical analyses of financial consumer protection to enable cross-country comparison.Financial Literacy,Access to Finance,Emerging Markets,Debt Markets,Bankruptcy and Resolution of Financial Distress

Experimental observation of the longitudinal plasma excitation in intrinsic Josephson junctions

We have investigated the current-voltage characteristics (IVCs) of intrinsic Josephson junctions (IJJs). Recently, it is predicted that the longitudinal plasma wave can be excited by the parametric resonance in IJJs. Such an excitation induces a singularity called as breakpoint region around switch back region in the IVC. We have succeeded in the observation of the breakpoint region in the IVC of the mesa with 5 IJJs at 4.2 K. Furthermore, it is found that the temperature dependence of the breakpoint current is in agreement with the theoretical prediction. This suggests that the wave number of the excited plasma wave varies with temperature.Comment: 7 pages, 7 figures. Dubna-Nano2008, Accepted for JPCS

Experimental manifestation of the breakpoint region in the current-voltage characteristics of intrinsic Josephson junctions

The experimental evidence of the breakpoint on the current-voltage characteristics (IVCs) of the stacks of intrinsic Josephson junctions (IJJs) is presented. The influence of the capacitive coupling on the IVCs of Bi$_2$Sr$_2$CaCu$_2$O$_y$ IJJs has been investigated. At 4.2 K, clear breakpoint region is observed on the branches in the IVCs. It is found that the hysteresis observed on the IVC is suppressed due to the coupling compared with that expected from the McCumber parameter. Measurements agree well with the results obtained by the theoretical model.Comment: 3 pages, 4 figure

Value Encoding in Single Neurons in the Human Amygdala during Decision Making

A growing consensus suggests that the brain makes simple choices by assigning values to the stimuli under consideration and then comparing these values to make a decision. However, the network involved in computing the values has not yet been fully characterized. Here, we investigated whether the human amygdala plays a role in the computation of stimulus values at the time of decision making. We recorded single neuron activity from the amygdala of awake patients while they made simple purchase decisions over food items. We found 16 amygdala neurons, located primarily in the basolateral nucleus that responded linearly to the values assigned to individual items

HESS J1826−-130: A Very Hard γ\gamma-Ray Spectrum Source in the Galactic Plane

HESS J1826$-$130 is an unidentified hard spectrum source discovered by H.E.S.S. along the Galactic plane, the spectral index being $\Gamma$ = 1.6 with an exponential cut-off at about 12 TeV. While the source does not have a clear counterpart at longer wavelengths, the very hard spectrum emission at TeV energies implies that electrons or protons accelerated up to several hundreds of TeV are responsible for the emission. In the hadronic case, the VHE emission can be produced by runaway cosmic-rays colliding with the dense molecular clouds spatially coincident with the H.E.S.S. source.Comment: 6 pages, 3 figures, Proceedings of the 6th International Symposium on High Energy Gamma-Ray Astronomy (Gamma2016), Heidelberg, German

Very high energy emission from the hard spectrum sources HESS J1641-463, HESS J1741-302 and HESS J1826-130

A recent study of the diffuse $\gamma$-ray emission in the Central Molecular Zone using very high energy (VHE, E $>$ 0.1 TeV) H.E.S.S. data suggests that the Galactic Center (GC) is the most plausible supplier of Galactic ultra-relativistic cosmic-rays (CRs) up to the knee at about 10$^{15}$ eV (PeV). However, the GC might not be the only source capable to accelerate CRs up to PeV energies in the Galaxy. Here we present H.E.S.S. data analysis results and interpretation of three H.E.S.S. sources, with spectra extending beyond 10 TeV and relatively hard spectral indices compared with the average spectral index of H.E.S.S. sources, namely HESS J1641-463, HESS J1741-302 and HESS J1826-130. Although the nature of these VHE $\gamma$-ray sources is still open, their spectra suggest that the astrophysical objects producing such emission must be capable of accelerating the parental particle population up to energies of at least several hundreds of TeV. Assuming a hadronic scenario, dense gas regions can provide rich target material for accelerated particles to produce VHE $\gamma$-ray emission via proton-proton interactions followed by a subsequent $\pi^{0}$ decay. Thus, detailed investigations of the interstellar medium along the line of sight to all of these sources have been performed by using data from available atomic and molecular hydrogen surveys. The results point out the existence of dense interstellar gas structures coincident with the best fit positions of these sources. One can find possible hadronic models with CRs being accelerated close to the PeV energies to explain the $\gamma$-ray emission from all of these sources, which opens up the possibility that a population of PeV CR accelerators might be active in the Galaxy.Comment: 8 pages, 2 figures, in Proceedings of 35th ICRC, Busan (Korea) 201

Discovery of the VHE gamma-ray source HESS J1641-463

A new TeV source, HESS J1641-463, has been serendipitously discovered in the Galactic plane by the High Energy Stereoscopic System (H.E.S.S.) at a significance level of 8.6 standard deviations. The observations of HESS J1641-463 were performed between 2004 and 2011 and the source has a moderate flux level of 1.7% of the Crab Nebula flux at E > 1 TeV. HESS J1641-463 has a rather hard photon index of 1.99 +- 0.13_stat +- 0.20_sys. HESS J1641-463 is positionally coincident with the radio supernova remnant SNR G338.5+0.1, but no clear X-ray counterpart has been found in archival Chandra observations of the region. Different possible VHE production scenarios will be discussed in this contribution.Comment: 5 pages, 5 figures, 2012 Fermi Symposium proceedings - eConf C12102