On May 11-12, 2011, SUERF, the Belgian Financial Forum, the Brussels Finance Institute and the Centre for European Policy Studies (CEPS) jointly organised the 29th SUERF Colloquium New paradigms in money and finance? The papers included in this SUERF Study are based on contributions to the Colloquium. The 2008-11 financial crisis has demonstrated unsatisfactory performance in financial institutions and in financial regulation and supervision all over the world. The contributors to the present volume look with critical eyes on financial theories, supervisory structures, (mis)pricing of risk and distorted incentives, risk management models and procedures, conflicts of interest and bank strategies. Their perspectives are quite different, but they share the ambition of finding improved analytical, organizational or managerial approaches so that decisionmakers have a better chance of showing good performance in the future. In essence, they are looking for new paradigms in banking, financial markets and regulation.

The similarities in the experimental indications for multinucleon mechanisms in (,p) and (e,ep) processes are pointed out. For both types of reactions, the substantial role of two-nucleon emission processes for transitions to high excitation energies in the residual nucleus is stressed. A microscopic model for the calculation of the two-body knockout contributions to the inclusive (,N) reaction is presented. It is based on an unfactorized formalism for the cal- culation of electromagnetically induced two-nucleon emission cross sections. The model is shown to yield a reasonable description of the overall behaviour of the 12C(,p) and 12C(,n) data at high excitation energies in the residual nucleus. In the calculations, effects from non-resonant and resonant pion ex- change currents are included. Photoabsorption on these currents are predicted to produce the major contributions to the exclusive 16O(,n0)15O process at photonenergies above the pion threshold. Double differential cross sections for photon induced pp and pn emission from 16O are calculated and compared with the data.

It is pointed out that shell-model effects are likely to affect the energy dependence of the {Delta}{sub 33} propagator in finite nuclei. {copyright} {ital 1996 The American Physical Society.}

A model is presented to describe electromagnetically induced two-nucleon emission processes in a shell-model picture. Distortions in the outgoing nucleon waves are accounted for by performing a partial-wave expansion in a real mean-field potential. The antisymmetry condition for the A-body wave functions is shown to be naturally preserved. The model is used to calculate (gamma, pn) and (gamma, pp) cross sections off the target nuclei O-16 and C-12 for photon energies ranging from 50 MeV up to the DELTA(1232) isobar threshold. Effects due to the pionic currents and intermediate DELTA creation are implemented. The impact of the distortions due to the interaction of the outgoing nucleon waves with the A -2 core is examined. Hadronic form factors are introduced to regularize the piNN vertices and the sensitivity of the cross section to the pion cutoff mass is examined. The relative contribution of the (gamma, pp) and the (gamma, pn) channel to the total photoabsorption strength is discussed. Further, the photon energy dependence of the (gamma, pp)/(gamma, pn) ratio is investigated.

The similarities in the experimental indications for multinucleon mechanisms in (γ,p) and (e,e'p) processes are pointed out. For both types of reactions, the substantial role of two-nucleon emission processes for transitions to high excitation energies in the residual nucleus is stressed. A microscopic model for the calculation of the two-body knockout contributions to the inclusive (γ,N) reaction is presented. It is based on an unfactorized formalism for the calculation of electromagnetically induced two-nucleon emission cross sections. The model is shown to yield a reasonable description of the overall behaviour of the ^12C(γ,p) and ^12C(γ,n) data at high excitation energies in the residual nucleus. In the calculations effects from non-resonant and resonant pion exchange currents are included. Photoabsorption on these currents are predicted to produce the major contributions to the exclusive ^16O(γ,n_0)^15O process at photonenergies above the pion threshold. Double differential cross sections for photon induced pp and pn emission from ^16O are calculated and compared with the data.

The role of pi- and p-meson exchange currents and dynamic Delta-isobar currents with both pi- and p-exchange are studied in two-nucleon knockout reactions. The Gottfried approximation is tested for these different absorption mechanisms by making a comparison between a factorized (Gottfried) model and an unfactorized model. For the unfactorized model, analytical expressions are given for the different absorption mechanisms by using harmonic-oscillator wavefunctions. The formalism is applied to the O-16(gamma,pn) reaction in the photon-energy range E(gamma) = 60-300 MeV. Over the whole energy range, the p-meson degree of freedom is found not to be negligible. It is demonstrated that the unfactorized treatment leads to a sizeable reduction of the cross section and to a change of the shape of the angular cross section.