Real-Time-RG Analysis of the Dynamics of the Spin-Boson Model

Using a real-time renormalization group method we determine the complete dynamics of the spin-boson model with ohmic dissipation for coupling strengths $\alpha\lesssim 0.1-0.2$. We calculate the relaxation and dephasing time, the static susceptibility and correlation functions. Our results are consistent with quantum Monte Carlo simulations and the Shiba relation. We present for the first time reliable results for finite cutoff and finite bias in a regime where perturbation theory in $\alpha$ or in tunneling breaks down. Furthermore, an unambigious comparism to results from the Kondo model is achieved.Comment: 4 pages, 5 figures, 1 tabl

Abrupt Onset of Second Energy Gap at Superconducting Transition of Underdoped Bi2212

The superconducting gap - an energy scale tied to the superconducting phenomena-opens on the Fermi surface at the superconducting transition temperature (TC) in conventional BCS superconductors. Quite differently, in underdoped high-TC superconducting cuprates, a pseudogap, whose relation to the superconducting gap remains a mystery, develops well above TC. Whether the pseudogap is a distinct phenomenon or the incoherent continuation of the superconducting gap above TC is one of the central questions in high-TC research. While some experimental evidence suggests they are distinct, this issue is still under intense debate. A crucial piece of evidence to firmly establish this two-gap picture is still missing: a direct and unambiguous observation of a single-particle gap tied to the superconducting transition as function of temperature. Here we report the discovery of such an energy gap in underdoped Bi2212 in the momentum space region overlooked in previous measurements. Near the diagonal of Cu-O bond direction (nodal direction), we found a gap which opens at TC and exhibits a canonical (BCS-like) temperature dependence accompanied by the appearance of the so-called Bogoliubov quasiparticles, a classical signature of superconductivity. This is in sharp contrast to the pseudogap near the Cu-O bond direction (antinodal region) measured in earlier experiments. The emerging two-gap phenomenon points to a picture of richer quantum configurations in high temperature superconductors.Comment: 16 pages, 4 figures, authors' version Corrected typos in the abstrac

Occurrence of Fermi Pockets without Pseudogap Hypothesis and Clarification of the Energy Distribution Curves of Angle-Resolved Photoemission Spectroscopy in Underdoped Cuprate Superconductors

Central issues in the electronic structure of underdoped cuprate superconductors are to clarify the shape of the Fermi surfaces and the origin of the pseudogap. On the basis of the model proposed by Kamimura and Suwa, which bears important features originating from the interplay of Jahn-Teller physics and Mott physics, the feature of Fermi surfaces in underdoped cuprates is the presence of Fermi pockets constructed from doped holes under the coexistence of a metallic state and a local antiferromagnetic order. Below $T_{\rm c}$, the holes on Fermi pockets form Cooper pairs with d-wave symmetry in the nodal region. In the antinodal region, there are no Fermi surfaces. In this study we calculate the energy distribution curves (EDCs) of angle-resolved photoemission spectroscopy (ARPES) below $T_{\rm c}$. It is shown that the feature of ARPES profiles of underdoped cuprates consists of a coherent peak in the nodal region and real transitions of photoexcited electrons from occupied states below the Fermi level to a free-electron state above the vacuum level in the antinodal region, where the latter transitions form a broad hump. From this feature, the origin of the two distinct gaps observed by ARPES is elucidated without introducing the concept of the pseudogap. Finally, a remark is made on the phase diagram of underdoped cuprates.Comment: arXiv admin note: significant text overlap with arXiv:1006.058

ANALYSIS OF ASSET CLASSES THROUGH THE BUSINESS CYCLE

This study was driven by the dissimilar performance characteristics displayed by asset classes over the business cycle. The authors aim to explore assets classes on the grounds of a scientific literature review and a statistical analysis. Business cycles are divided into four stages to explore broad movements in returns of asset classes and a possible existence of asymmetrical effects of determinants within stages. Six main asset classes were analysed: US stocks, EAFE stocks, Bonds, Gold, Real Estate and Commodities. Monthly data from February 1976 to August 2011 were used for the study. The article combines business cycle and asset allocation theories by adding valuable information about performance of asset classes during different phases of the business cycle. Using the OECD Composite Leading Indicator as a business cycle measure, the authors demonstrate that different assets classes have different return/risk characteristics over the business cycle. The article demonstrates how to use the business cycle approach for investment decision-making. The OECD Composite Leading Indicator can provide significant information on market expectations and the future outlook; hence, results of this study can help every investor improve his/her performance and risk management