185 research outputs found

    Why don't lenders renegotiate more home mortgages? redefaults, self-cures, and securitization

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    We document the fact that servicers have been reluctant to renegotiate mortgages since the foreclosure crisis started in 2007, having performed payment-reducing modifications on only about 3 percent of seriously delinquent loans. We show that this reluctance does not result from securitization: Servicers renegotiate similarly small fractions of loans that they hold in their portfolios. Our results are robust to different definitions of renegotiation, including the one most likely to be affected by securitization, and to different definitions of delinquency. Our results are strongest in subsamples in which unobserved heterogeneity between portfolio and securitized loans is likely to be small and in subprime loans. We use a theoretical model to show that redefault risk, the possibility that a borrower will still default despite costly renegotiation, and self-cure risk, the possibility that a seriously delinquent borrower will become current without renegotiation, make renegotiation unattractive to investors.

    Natural user interfaces in games for mobile devices

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    Tese de mestrado integrado. Engenharia Informática e Computação. Faculdade de Engenharia. Universidade do Porto. 201

    Loan Originations and Defaults in the Mortgage Crisis: The Role of the Middle Class

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    This paper highlights the importance of middle-class and high-FICO borrowers for the mortgage crisis. Contrary to popular belief, which focuses on subprime and poor borrowers, we show that mortgage originations increased for borrowers across all income levels and FICO scores. The relation between mortgage growth and income growth at the individual level remained positive throughout the pre-2007 period. Finally, middle-income, high-income, and prime borrowers all sharply increased their share of delinquencies in the crisis. These results are consistent with a demand-side view, where homebuyers and lenders bought into increasing house values and borrowers defaulted after prices dropped

    Dynamics of Housing Debt in the Recent Boom and Great Recession

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    This paper documents a number of key facts about the evolution of mortgage debt, homeownership, debt burden, and subsequent delinquency during the recent housing boom and Great Recession. We show that the mortgage expansion was shared across the entire income distribution; that is, the flow and stock of debt rose across all income groups (except for the top 5%). The mortgage expansion was especially pronounced in areas with increased house prices, and the speed at which houses turned over (churn) in these areas went up significantly. However, the average loan-to-value ratios (LTV) at origination did not increase over the boom period. While homeownership rates increased for the middle- and upper-income households, there was no increase in homeownership for the lowest income groups. Finally, default rates postcrisis went up predominantly in areas with large house price drops, especially for high-income and high-FICO borrowers. These results are consistent with a view that the run-up in mortgage debt over the precrisis period was driven by rising home values and expectations of increasing prices

    Responsabilidade pelo outro : uma abordagem ético-teológica e cultural : Onde está o teu irmão Abel? : Gn 4, 9

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    A vida humana √© uma eterna tentativa de resposta √† pergunta existencial que ecoa de forma mais l√ļcida no cora√ß√£o do homem, sujeito de liberdade, de dever e, n√£o obstante, sujeito de responsabilidade. Tal pergunta existencial tem uma dimens√£o vertical, ou seja, descendente na medida em que, atrav√©s da Sagrada Escritura, Deus interpela a humanidade em geral, e a cada ser humano em particular, sobre o paradeiro do outro: ‚Äúonde est√° o teu irm√£o... (Gn 4, 9) ‚ÄĚ? Doravante, a responsabilidade pelo outro implica o cuidado, o respeito, a aceita√ß√£o, o esp√≠rito de hospitalidade como valor humano indiscut√≠vel, e, sobretudo, o amor pela pessoa do irm√£o, que √© uma epifania do divino. A vida humana que, de forma gratuita, recebemos como dom do alto, est√° repleta da bondade do pr√≥prio Criador. Por isso, n√£o se trata de um direito roubado ou adquirido, mas sim um direito natural e origin√°rio que existe muito antes da nossa vontade e est√° enraizado no pr√≥prio ser da pessoa humana. A conserva√ß√£o da vida humana constitui um dos grandes desafios e a base de todos os direitos naturais. Neste sentido, ela possui, por assim dizer, uma import√Ęncia particular. E como tal, o direito mais origin√°rio da vida humana √© acolher o outro e protege-lo do dano, da viol√™ncia e, em √ļltima inst√Ęncia, da morte premeditada. Portanto, entre pessoas livres e independentes, o consciente exterm√≠nio do ser humano, isto √©, a destrui√ß√£o do primeiro direito natural da pessoa humana, privando-a, de forma radical, dos seus direitos, constitui uma avers√£o ao des√≠gnio do pr√≥prio Criador. Por isso, a responsabilidade pelo outro, aparece como sendo o v√≠nculo de todo o respeito, o amor e a estima pela vida humana.Human life is an eternal attempt to answer the existential question that echoes more clearly in the heart of man, subject of freedom, of duty and, evertheless, subject of responsability. Such na existential question has a vertical dimension, that is, descending in that, through Holy Scripture, God challenges humanity in general and each human being in particular about the whereabouts of the other: ‚Äúwhere is your brother ‚Ķ (Gen 4, 9)? Henceforth, responsability for the other implies caring, respect, acceptance, the spirit of hospitality as an undisputed human value, and, above all, love for one¬īs brother, which is an epiphany of the divine. The human life which we freely receive as a gift from above is full of the goodness of the Creator Himself. Therefore, it¬īs not a stolen or acquired right, but a natural and original right that exists long before our will and is rooted in the very being of the human person. The conservation of human life i sone of the great challenges and the Foundation of all natural rights. In this sense it has, as it were, a particular importance. And as such, the most original right of human life is to welcome the other and protect him from harm, violence and, ultimately, premeditated death. Therefore, among free and independente persons, the conscious extermination of the human being, that is, the destruction of the first natural right of the human person, radically depriving him of his rights, constitutes an aversion to the Creator¬īs own design. The responsability for the other appears to be the bondo f all respect, love and esteem for human life

    Estudo da aplicação na prática clínica

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    Introdu√ß√£o. O p√©ptido natriur√©tico tipo B √© um biomarcador recomendado e disseminado para abordagem diagn√≥stica e progn√≥stica de doentes suspeitos de insufici√™ncia card√≠aca aguda no servi√ßo de urg√™ncia, importando conhecer a sua real aplica√ß√£o cl√≠nica. Objetivos. Estudar a pertin√™ncia da prescri√ß√£o, precis√£o diagn√≥stica e valor progn√≥stico do p√©ptido natriur√©tico tipo B na pr√°tica cl√≠nica do servi√ßo de urg√™ncia. Materiais e m√©todos. Realizou-se um estudo retrospetivo longitudinal de 463 casos consecutivos admitidos num servi√ßo de urg√™ncia hospitalar. Analisaram-se: a pertin√™ncia da prescri√ß√£o face √† hist√≥ria e manifesta√ß√Ķes cl√≠nicas, probabilidade diagn√≥stica (derivada dos crit√©rios de Boston) e diagn√≥stico m√©dico de insufici√™ncia card√≠aca; as estat√≠sticas de precis√£o diagn√≥stica face √† probabilidade cl√≠nica e diagn√≥stico m√©dico de insufici√™ncia card√≠aca; o valor progn√≥stico face aos eventos adversos imediatos e uma an√°lise de sobreviv√™ncia para eventos adversos at√© 1 ano. Resultados e discuss√£o. Em 52,5% de casos com prescri√ß√£o do p√©ptido natriur√©tico tipo B observou-se elevada probabilidade cl√≠nica diagn√≥stica de insufici√™ncia card√≠aca aguda, diminuindo a pertin√™ncia dessas prescri√ß√Ķes. Nos 27,6% de casos com diagn√≥sticos clinicamente incertos, logo maior pertin√™ncia na prescri√ß√£o, as diferen√ßas neste biomarcador foram menores, prejudicando a sua utilidade cl√≠nica. Essas diferen√ßas s√£o maiores nos casos de maior probabilidade cl√≠nica do diagn√≥stico, associando-se a diagn√≥sticos mais precisos em 19,9% de casos. As estat√≠sticas de precis√£o diagn√≥stica do p√©ptido natriur√©tico tipo B face ao diagn√≥stico m√©dico de insufici√™ncia card√≠aca aguda foram superiores √†s relativas √† probabilidade cl√≠nica desse diagn√≥stico, por√©m inferiores ao reportado na literatura. Doseamentos superiores a 400pg/mL associaram-se significativamente ao diagn√≥stico de insufici√™ncia card√≠aca aguda e riscos de reinternamento ou morte respetivamente at√© 6 e 11 vezes superiores aos daqueles com valores menores. O risco de eventos adversos (sobretudo devidos a insufici√™ncia card√≠aca) foi maior em doentes com p√©ptido natriur√©tico mais elevado. Conclus√Ķes. Uma importante redu√ß√£o na prescri√ß√£o de p√©ptido natriur√©tico √© poss√≠vel com uma abordagem cl√≠nica criteriosa. A utiliza√ß√£o do BNP associa-se a maior precis√£o diagn√≥stica da insufici√™ncia card√≠aca e fornece relevante informa√ß√£o progn√≥stica. O limiar de 400pg/mL associa-se significativamente ao diagn√≥stico e progn√≥stico desta doen√ßa.Introduction. B-type natriuretic peptide is a biomarker recommended and disseminated for the diagnostic and prognostic management of acute heart failure suspected patients in the emergency department, being important to know its real clinical application. Objectives. To study the pertinence of prescription, diagnostic precision and prognostic value of B-type natriuretic peptide in the emergency department clinical practice. Materials and methods. A retrospective longitudinal study was performed in 463 consecutive cases admitted to a hospital emergency department. Analysis were performed of the prescription‚Äôs pertinence relative to the clinical history and manifestations, diagnostic probability (derived from Boston criteria) and medical diagnosis of heart failure; the diagnostic precision statistics relative to the clinical probability and medical diagnosis of heart failure; the prognostic value relative to the immediate adverse events and a survival analysis of adverse events up to 1 year. Results and discussion. In 52.5% of cases with prescription of B-type natriuretic peptide a high clinical diagnostic probability of acute heart failure, reducing the pertinence of those prescriptions. In 27.6% of cases with uncertain clinical diagnosis, hence greater pertinence of prescription, the differences in the biomarker were small, reducing its clinical utility. Those differences were greater in cases with higher clinical probability of diagnosis, associating with 19.9% more precise diagnosis. The diagnostic precision statistics of B-type natriuretic peptide relative to the medical diagnosis of acute heart failure were better than those relative to the clinical probability of that diagnosis, however inferior to the reported from literature. Values higher than 400pg/mL significantly associated with the diagnosis of acute heart failure and rehospitalization or death risks respectively up to 6 and 11 times higher than those with lower values. The risk of adverse events (principally caused by heart failure) was greater in patients with higher natriuretic peptide. Conclusions. An important reduction of B-type natriuretic peptide prescription is possible with a careful clinical approach. Its use associates with better diagnostic precision relative to heart failure and supplies relevant prognostic information. 400pg/mL cutoff is relevant for the diagnosis and prognosis of this disease

    Implica√ß√Ķes na sustentabilidade socioambiental do consumo de √°gua : uma vis√£o unificadora dos tarif√°rios

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    Equaciona-se o direito humano √† √°gua tendo presente a sua utiliza√ß√£o assente no equil√≠brio dos poss√≠veis modelos de gest√£o aplic√°veis aos sistemas de distribui√ß√£o de √°gua e na consciencializa√ß√£o/educa√ß√£o dos consumidores para solu√ß√Ķes de eficiente utiliza√ß√£o da √°gua. Avalia-se o conceito de Pegada H√≠drica como indicador de impacte do consumo humano global nos recursos de √°gua associado ao conceito de ‚Äú√°gua virtual‚ÄĚ bem como ao de Avalia√ß√£o do Ciclo de Vida (ACV) do produto √°gua para consumo humano, desde a sua origem √† sua distribui√ß√£o. Analisam-se as altera√ß√Ķes significativas que a Diretiva Quadro da √Āgua (DQA) veio introduzir, para a prote√ß√£o e a utiliza√ß√£o sustent√°vel da √°gua, tendo por base princ√≠pios ambientais, econ√≥micos, sociais e pol√≠ticos de modo a minimizar a crescente degrada√ß√£o dos recursos h√≠dricos. Apresenta-se o quadro institucional portugu√™s, do setor do abastecimento e distribui√ß√£o de √°gua, analisando as diferentes formas de gest√£o poss√≠veis bem como os diferentes modelos e estruturas tarif√°rias aplic√°veis, desenvolvendo-se uma metodologia para uniformiza√ß√£o dos tarif√°rios quer na sua estrutura quer nos valores a aplicar em cada bloco estrutural. √Č apresentada a regra de Ramsey-Boiteux como uma solu√ß√£o vi√°vel para o estabelecimento de pre√ßos em monop√≥lios com restri√ß√Ķes or√ßamentais, como √© o caso das entidades de distribui√ß√£o de √°gua. Analisa-se o conceito de qualidade servi√ßo com base no grau de cumprimento de padr√Ķes de desempenho por parte das entidades gestoras, utilizando indicadores de desempenho padronizados atrav√©s de uma classifica√ß√£o pontual, distribu√≠da por diferentes intervalos aos quais √© atribu√≠do, um coeficiente qualitativo. Procede-se √† hierarquiza√ß√£o das Entidades Gestoras baseada nos seus sistemas de opera√ß√£o/produ√ß√£o, calculam-se e aplicam-se indicadores de avalia√ß√£o de qualidade de servi√ßo visando, a cria√ß√£o de um modelo de aplica√ß√£o generalizada √†s diferentes Entidades Gestoras, conduzindo a um modelo tarif√°rio unificado final, coerente e equitativamente equilibrado socialmente, em paralelo com um sistema compensat√≥rio que conduz √† justi√ßa social e √† sustentabilidade. Por fim, aplicam-se, a t√≠tulo de exemplo, os conceitos desenvolvidos a um n√ļmero restrito de entidades com diferentes modelos de gest√£o e de tarif√°rios, determinando-se o valor final do pre√ßo para todas as Entidades Gestoras consideradas.The human right to water is equated with its use based on the balance of possible management models applicable to water distribution systems and on consumer awareness /education for efficient water use solutions. The concept of Water Footprint is evaluated as an indicator of the impact of global human consumption on the water resources associated with the concept of ‚Äúvirtual water" as well as the Life Cycle Assessment (LCA) of the product water for human consumption, from its origin to its distribution. The important changes that the Water Framework Directive (WFD) has introduced for the protection and sustainable use of water, are based on environmental, economic, social and political principles in order to minimize the increasing degradation of water resources. It presents the Portuguese institutional framework of the water supply and distribution sector, analyzing the different possible forms of management as well as the different models and tariff structures applicable, developing a methodology for standardizing tariffs in both structure and values to be applied in each structural block. The Ramsey-Boiteux rule is presented as a viable solution for the establishment of prices in monopolies with budgetary restrictions, as is the case of water distribution entities. The concept of service quality is analyzed based on the degree of compliance with performance standards by management entities, using performance indicators standardized through a point ranking, distributed over different intervals to which it is assigned, a qualitative coefficient. The Managing Entities are hierarchically based on their operating/production systems, indicators of quality of service evaluation are calculated and applied in order to create a generalized application model for the different Managing Entities, leading to a model unified final tariff, coherent and equitably socially balanced, in parallel with a compensatory system that leads to social justice and sustainability. Finally, as an example, the concepts developed for a limited number of entities with different management and tariff models are applied, and the final value of the price is determined for all the Management Entities considered

    Import√Ęncia do ensino da bio√©tica nas tecnologias da sa√ļde

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    Contexto: N√£o h√° concord√Ęncia sobre se programas que visam os maiores t√≥picos em Bio√©tica s√£o mais ou menos √ļteis do que aqueles que reconhecem e se focam nas preocupa√ß√Ķes √©ticas e morais quotidianas dos profissionais. Neste sentido, tem-se como prop√≥sito deste estudo perceber qual a import√Ęncia do ensino da Bio√©tica/√Čtica m√©dica no quotidiano profissional dos T√©cnicos de Sa√ļde. Metodologia: A recolha de dados foi efectuada em plataforma online, durante 40 dias. Ao fim deste per√≠odo obtivemos 1290 respostas v√°lidas (362 ACSP, 321 RAD e 607 FISIO). Resultados; O question√°rio (IEB), constru√≠do e validado pelos autores, obteve uma consist√™ncia interna de 0,96 e uma consist√™ncia temporal de 0,95. O IEB apresentou 5 subescalas que avaliam a Intensidade dos Questionamentos Morais, a Frequ√™ncia dos Questionamentos Morais, a Satisfa√ß√£o com o Trabalho e Envolvimento nas Decis√Ķes, a Dificuldade na Reflex√£o √Čtica e a Frequ√™ncia na Reflex√£o √Čtica (CMIN/DF=4,924; SRMR=0,093). Os profissionais com forma√ß√£o espec√≠fica em Bio√©tica est√£o significativamente mais envolvidos na tomada de decis√£o √©tica e apresentam maior intensidade e frequ√™ncia nos questionamentos morais (p<0,05), embora o tempo de forma√ß√£o n√£o interfira nesta rela√ß√£o. No que diz respeito √† forma√ß√£o espec√≠fica em Deontologia, os profissionais com este tipo de forma√ß√£o, t√™m significativamente menos dificuldade na reflex√£o √©tica e mais dificuldade nos questionamentos morais. Verificouse tamb√©m que, quanto menos tempo de forma√ß√£o, menor a satisfa√ß√£o e envolvimento na tomada de decis√£o √©tica e maior a intensidade e a frequ√™ncia nos questionamentos morais. Quanto ao n√ļmero de disciplinas de Bio√©tica/√Čtica m√©dica verifica-se que influenciam positivamente o envolvimento na tomada de decis√£o √©tica, na frequ√™ncia e na intensidade dos questionamentos morais. Conclus√Ķes. Pensamos estar criado um espa√ßo para uma discuss√£o aprofundada da gest√£o das pr√°ticas pedag√≥gicas que permitam aos alunos, futuros profissionais, obter uma maior capacidade para constru√≠rem e aplicarem conhecimentos perante as variadas forma√ß√Ķes para a tomada de decis√£o √©tica. Ela passa pela intensidade, frequ√™ncia e dificuldade que a mesma implica e, da√≠ a necessidade do incremento desta reflex√£o de forma a incluir os assuntos √©ticos no quotidiano dos profissionais.Introduction: There is no agreement on whether programs aimed at the major topics in Bioethics are more or less useful than those that recognizes and focuses in everyday moral concerns of professionals. The purpose of this study is to realize how important is the teaching of Bioethics/Medical Ethics in professional quotidian of health technicians. Methodology: Data collection was carried out in online platform and was available for 40 days. At the end of this period we obtained 1290 valid responses (ACSP 362, RAD 321 and FISIO 607). The questionnaire (IEB), developed and validated by the authors obtained an internal consistency of 0.96 and temporal consistency of 0.95. The IEB presented five subscales that assess Moral Intensity Questionings, Moral Frequency Questionings, Satisfaction with Work and Involvement in Decisions, Difficulty in Ethical Reflection and the Frequency in Ethics Reflection (CMIN / DF = 4,924; SRMR = 0.093). Professionals with specific training in Bioethics are significantly more involved in ethical decision making and have greater intensity and frequency in moral questions (p <0.05), although the training time does not interfere in this relationship. With regard to specific training in Deontology, professionals with this type of education, have significantly less difficulty in ethical reflection and more difficulty in moral questionings. It was also found that the less training time, less satisfaction and involvement in ethical decision making and greater intensity and frequency in moral questionings. With regard to the number of Bioethics / Medical Ethics disciplines we found that they positively influence the engagement in ethical decision making, in the frequency and intensity of moral questions. Conclusions: A space for a thorough discussion of the management of teaching practices that allow students, future professionals, to achieve greater capacity to build and apply knowledge in the face of varied backgrounds for ethical decision making was created. It goes by the intensity, frequency and difficulty it entails and hence the need to increase this reflection to include ethical issues in the daily lives of professionals

    Unidade, transforma√ß√£o e subst√Ęncia: um ensaio da incerteza do agir no projecto.

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    Relat√≥rio de s√≠ntese relativo √†s provas de aptid√£o pedag√≥gica e capacidade cient√≠fica do candidato do Departamento de Arquitectura da Faculdade de Ci√™ncia e Tecnologia da Universidade de Coimbra .Apresenta√ß√£o. 1 Estrutura do relat√≥rio. 4 Motiva√ß√£o. 10 Sobre a terminologia. 13 I. VERS LA GRANDE LIBERT√Č. 19 ditirambos sobre a arquitectura contempor√Ęnea. 15 1. O ¬ęcome√ßo¬Ľ: ser moderno. 21 2. Paradoxos na arquitectura contempor√Ęnea. 35 3. Uma ¬ęchegada¬Ľ: ser indiferente. 42 4. ¬ęArquitectura did√°ctica¬Ľ. 47 5. Uma ¬ęsa√≠da¬Ľ: deflex√£o das rotinas. 49 6. La Grande Libert√©. 61 II. NOTAS PARA UMA FENOMENOLOGIA DO PROJECTO. 72 1. UNIDADE 73 1.1 Unidade da forma. 73 1.2 Unidade ontol√≥gica. 76 1.3 Unidade epistemol√≥gica. 77 1.4 Introdu√ß√£o √† complexidade. 80 1.5 Complexidade e arquitectura. 84 1.6 Projecto e intencionalidade. 88 1.7 Introdu√ß√£o √† impossibilidade. 97 2. TRANFORMA√á√ÉO. 102 2.1 Indetermina√ß√£o dos come√ßos. 102 3. SUBST√āNCIA. 113 3.1 Mat√©ria, material e subst√Ęncia. 113 III. ABERTURA. 128 Abertura 129 Gloss√°rio 155 BIBIOGRAFIA GERAL. 14
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