Mortgage Default Rates and Borrower Race

We estimate a mortgage default model with national data on conventional mortgages that were current from 1986 to 1992. Our analysis confirms the results of previous analyses of Federal Housing Authority mortgages: Black households have higher marginal default rates, controlling for differences in borrower and property characteristics. Further, we do not find that Black borrowers have significantly more home equity. These results do not provide evidence of racial discrimination in mortgage lending and suggest that differences in default costs or transaction costs may explain differences in default rates.

The topology of deformation spaces of Kleinian groups

Let M be a compact, hyperbolizable 3-manifold with nonempty incompressible boundary and let AH(\pi_1(M)) denote the space of (conjugacy classes of) discrete faithful representations of \pi_1(M) into PSL 2 (C). The components of the interior MP(\pi_1(M)) of AH(\pi_1(M)) (as a subset of the appropriate representation variety) are enumerated by the space A(M) of marked homeomorphism types of oriented, compact, irreducible 3-manifolds homotopy equivalent to M. In this paper, we give a topological enumeration of the components of the closure of MP(\pi_1(M)) and hence a conjectural topological enumeration of the components of AH(\pi_1(M)). We do so by characterizing exactly which changes of marked homeomorphism type can occur in the algebraic limit of a sequence of isomorphic freely indecomposable Kleinian groups. We use this enumeration to exhibit manifolds M for which AH(\pi_1(M)) has infinitely many components.Comment: 49 pages, published versio

Improving the chances for developing coastal country success in adapting to climate change

There is an unequivocal scientific consensus that increases in greenhouse gases in the atmosphere drive warming temperatures of air and sea, and acidification of the world’s oceans from carbon dioxide absorbed by the oceans. These changes in turn can induce shifts in precipitation patterns, sea level rise, and more frequent and severe extreme weather events (e.g. storms and sea surge). All of these impacts are already being witnessed in the world’s coastal regions and are projected to intensify in years to come. Taken together, these impacts are likely to result in significant alteration of natural habitats and coastal ecosystems, and increased coastal hazards in low-lying areas. They can affect fishers, coastal communities and resource users, recreation and tourism, and coastal infrastructure. Approaches to planned adaptation to these impacts can be drawn from the lessons and good practices from global experience in Integrated Coastal Management (ICM). The recently published USAID Guidebook on Adapting to Coastal Climate Change (USAID 2009) is directed at practitioners, development planners, and coastal management professionals in developing countries. It offers approaches for assessing vulnerability to climate change and climate variability in communities and outlines how to develop and implement adaptation measures at the local and national levels. Six best practices for coastal adaptation are featured in the USAID Guidebook on Adapting to Coastal Climate Change and summarized in the following sections. (PDF contains 3 pages

Convicts and coolies : rethinking indentured labour in the nineteenth century

This article seeks to shift the frame of analysis within which discussions of Indian indentured migration take place. It argues that colonial discourses and practices of indenture are best understood not with regard to the common historiographical framework of whether it was 'a new system of slavery', but in the context of colonial innovations in incarceration and confinement. The article shows how Indian experiences of and knowledge about transportation overseas to penal settlements informed in important ways both their own understandings and representations of migration and the colonial practices associated with the recruitment of indentured labour. In detailing the connections between two supposedly different labour regimes, it thus brings a further layer of complexity to debates around their supposed distinctions

Acetylene hydrogenation over structured Au-Pd catalysts

Acknowledgements We thank the University of Aberdeen for financial support and Dr K. McManus (University of Aberdeen) for performing preliminary experiments with these samples. Electron microscopy and EDS were performed by RTB at the Electron Microscopy Facility, University of St Andrews.Peer reviewedPostprin

Algebraic limits of Kleinian groups which rearrange the pages of a book

Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/42012/1/222-126-2-205_61260205.pd