Spinning strings and minimal surfaces in AdS(3) with mixed 3-form fluxes

Motivated by the recent proposal for the S-matrix in AdS(3) x S-3 with mixed three form fluxes, we study classical folded string spinning in AdS(3) with both Ramond and Neveu-Schwarz three form fluxes. We solve the equations of motion of these strings and obtain their dispersion relation to the leading order in the Neveu-Schwarz flux b. We show that dispersion relation for the spinning strings with large spin S acquires a term given by -root lambda/2 pi b(2) log(2) S in addition to the usual root lambda/pi log S term where root lambda is proportional to the square of the radius of AdS(3). Using SO(2, 2) transformations and re-parmetrizations we show that these spinning strings can be related to light like Wilson loops in AdS(3) with Neveu-Schwarz flux b. We observe that the logarithmic divergence in the area of the light like Wilson loop is also deformed by precisely the same coefficient of the b(2) log(2) S term in the dispersion relation of the spinning string. This result indicates that the coefficient of b(2) log(2) S has a property similar to the coefficient of the log S term, known as cusp-anomalous dimension, and can possibly be determined to all orders in the coupling lambda using the recent proposal for the S-matrix.

Heat kernels on the AdS(2) cone and logarithmic corrections to extremal black hole entropy

We develop new techniques to efficiently evaluate heat kernel coefficients for the Laplacian in the short-time expansion on spheres and hyperboloids with conical singularities. We then apply these techniques to explicitly compute the logarithmic contribution to black hole entropy from an N = 4 vector multiplet about a Z(N) orbifold of the near-horizon geometry of quarter-BPS black holes in N = 4 supergravity. We find that this vanishes, matching perfectly with the prediction from the microstate counting. We also discuss possible generalisations of our heat kernel results to higher-spin fields over ZN orbifolds of higher-dimensional spheres and hyperboloids.

A Grassmann path from AdS(3) to flat space

We show that interpreting the inverse AdS(3) radius 1/l as a Grassmann variable results in a formal map from gravity in AdS(3) to gravity in flat space. The underlying reason for this is the fact that ISO(2, 1) is the Inonu-Wigner contraction of SO(2, 2). We show how this works for the Chern-Simons actions, demonstrate how the general (Banados) solution in AdS(3) maps to the general flat space solution, and how the Killing vectors, charges and the Virasoro algebra in the Brown-Henneaux case map to the corresponding quantities in the BMS3 case. Our results straightforwardly generalize to the higher spin case: the recently constructed flat space higher spin theories emerge automatically in this approach from their AdS counterparts. We conclude with a discussion of singularity resolution in the BMS gauge as an application.

AdS (in)stability: Lessons from the scalar field

We argued in arXiv: 1408.0624 that the quartic scalar field in AdS has features that could be instructive for answering the gravitational stability question of AdS. Indeed, the conserved charges identified there have recently been observed in the full gravity theory as well. In this paper, we continue our investigation of the scalar field in AdS and provide evidence that in the Two-Time Formalism (TTF), even for initial conditions that are far from quasi-periodicity, the energy in the higher modes at late times is exponentially suppressed in the mode number. Based on this and some related observations, we argue that there is no thermalization in the scalar TTF model within time-scales that go as similar to 1/epsilon(2), where epsilon measures the initial amplitude (with only low-lying modes excited). It is tempting to speculate that the result holds also for AdS collapse. (C) 2015 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY license.

Improvements to the Froissart bound from AdS/CFT

In this paper we consider the issue of the Froissart bound on the high energy behaviour of total cross sections. This bound, originally derived using principles of analyticity of scattering amplitudes, is seen to be satisfied by all the available experimental data on total hadronic cross sections. At strong coupling, gauge/gravity duality has been used to provide some insights into this behaviour. In this work, we find the subleading terms to the so-derived Froissart bound from AdS/CFT. We find that a (ln s/s0) term is obtained, with a negative coefficient. We see that the fits to the currently available data confirm improvement in the fits due to the inclusion of such a term, with the appropriate sign. (C) 2015 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY license.

A hidden symmetry of AdS resonances

Recent investigations have revealed powerful selection rules for resonant energy transfer between modes of nonlinear perturbations in global anti-de Sitter (AdS) space-time. It is likely that these selection rules are due to the highly symmetric nature of the underlying AdS background, though the precise relation has remained unclear. In this article, we demonstrate that the equation satisfied by the scalar field mode functions in AdS(d+1) has a hidden SU(d) symmetry, and explicitly specify the multiplets of this SU(d) symmetry furnished by the mode functions. We also comment on the role this structure might play in explaining the selection rules.

A stochasticity threshold in holography and the instability of AdS

We give strong numerical evidence that a self-interacting probe scalar field in AdS, with only a few modes turned on initially, will undergo fast thermalization only if it is above a certain energetic threshold. Below the threshold the energy stays close to constant in a few modes for a very long time instead of cascading quickly. This indicates the existence of a Strong Stochasticity Threshold (SST) in holography. The idea of SST is familiar from certain statistical mechanical systems, and we suggest that it exists also in AdS gravity. This would naturally reconcile the generic nonlinear instability of AdS observed by Bizon and Rostworowski, with the Fermi-Pasta-Ulam-Tsingou-like quasiperiodicity noticed recently for some classes of initial conditions. We show that our simple setup captures many of the relevant features of the full gravity-scalar system.

The international economic crisis from point of view of the social market economy

Conferencia dictada el día miércoles 8 de agosto de 2012 como parte de la Cátedra Konrad Adenauer, “Escuela de Economía Francisco Valsecchi” de la Pontificia Universidad Católica Argentina (UCA).

Did bankruptcy reform lead to looser mortgage lending standard? : evidence from the U. S. mortgage market 2000-2007

Resumen: El presente trabajo intenta encontrar una causa exógena al deterioro, a partir de 2005, en los estándares de crédito hipotecario que contribuyeron a la crisis subprime en los Estados Unidos. Sostenemos que la nueva provisión de la prueba de medios de la ley Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) de 2005 fue dicho shock exógeno en el mercado hipotecario. Mostramos que la prueba de medios, que impide solicitar la bancarrota bajo Chapter 7 a los deudores con mayores ingresos relativos, causó un desplazamiento de la oferta de crédito hipotecario de deudores con mayores ingresos a deudores con menores ingresos relativos. Simultáneamente, observamos que todos los deudores debieron pagar tasas de interés más altas, independientemente del nivel de ingresos. Nuestros resultados implican que la ley BAPCPA podría ser un factor que contribuyó al deterioro en los estándares de crédito en el mercado hipotecario de los Estados Unidos.

The Impact of Regulation on Pricing Behavior in the Spanish Electricity Market

In this paper we measure the impact of regulatory measures which affected the Spanish electricity wholesale market in the period 2002-2005. Our approach is based on the fact that regulation changes firms' incentives and therefore their market behavior. In the absence of any regulation firms would choose profit- maximizing prices on their residual demands so that the observed gap between optimal and actual prices provides a measure of the effect of regulation. Our results indicate that regulation has decreased wholesale prices considerably, but became less effective at the end of the sample period which explains the change of regulatory regime introduced in 2006.

Unions, Monetary Shocks and the Labour Market Cycle

Published as an article in: Economic Modelling, 2011, vol. 28, issue 3, pages 1140-1149.

The Importance of Stock Market Returns in Estimated Monetary Policy Rules: a Structural Approach

This paper estimates a standard version of the New Keynesian Monetary (NKM) model augmented with financial variables in order to analyze the relative importance of stock market returns and term spread in the estimated U.S. monetary policy rule. The estimation procedure implemented is a classical structural method based on the indirect inference principle. The empirical results show that the Fed seems to respond to the macroeconomic outlook and to the stock market return but does not seem to respond to the term spread. Moreover, policy inertia and persistent policy shocks are also significant features of the estimated policy rule.

Policy Coordination in an Oligopolistic Housing Market

This paper analyzes the consequences of the interaction between two different levels of government (regulators) in the development of housing policy when their decisions determine the level of competition in the housing market. The analysis discusses the implications derived from a lack of coordination between a local regulator who controls the supply of land for housing development and a central regulator who decides on housing subsidies. The results suggest that lack of coordination has significant effects on prices and supply of houses, housing developers’ profits, and buyers’ surplus.

Labor Market Assimilation of Recent Immigrants in Spain

Revised: 2006-11.-- Published as an article in: British Journal of Industrial Relations, June 2007, vol. 45, issue 2, pp. 257-284.