Banking Geography and Cross-Fertilization in the Productivity Growth of US Commercial Banks

The US banking industry offers a unique, natural and fertile environment to study geography's effects on banks' behavior and performance. The literature on banks' operating performance, while extensive, says little about the influence of spatial interactions on banks' performance. We compute and examine, using a physical distance-based spatio-temporal empirical model, the state-wide total factor productivity growth (TFPG) indices of US commercial banks for each state for the 1971-1995 period. We observe that the productivity growth of commercial banks in state i depends strongly, positively, and contemporaneously on the productivity growth of commercial banks located in state i's contiguous states. Further, “regulatory space” appears to induce frictions and lessen the documented spatial interactions. These findings support our plea that research on commercial banking sector's behavior need to pay a particular attention to the effects of banking geography.Spatial, Commercial Banks, Total Factor Productivity Growth, Kalman Filter

A Novel Enediynyl Peptide Inhibitor of Furin That Blocks Processing of proPDGF-A, B and proVEGF-C

BACKGROUND: Furin represents a crucial member of secretory mammalian subtilase, the Proprotein Convertase (PC) or Proprotein Convertase Subtilisin/Kexin (PCSK) superfamily. It has been linked to cancer, tumorgenesis, viral and bacterial pathogenesis. As a result it is considered a major target for intervention of these diseases. METHODOLOGY/PRINCIPAL FINDINGS: Herein, we report, for the first time, the synthesis and biological evaluation of a newly designed potent furin inhibitor that contains a highly reactive beta-turn inducing and radical generating "enediynyl amino acid" (Eda) moiety. "Eda" was inserted between P1 and P1' residues of hfurin(98-112) peptide, derived from the primary cleavage site of furin's own prodomain. The resulting hexadecapeptide derivative inhibited furin in vitro with IC(50) approximately 40 nM when measured against the fluorogenic substrate Boc-RVRR-MCA. It also inhibited furin-mediated cleavage of a fluorogenic peptide derived from hSARS-CoV spike protein with IC(50) approximately 193 nM. Additionally it also blocked furin-processing of growth factors proPDGF-A, B and VEGF-C that are linked to tumor genesis and cancer. Circular dichroism study showed that this inhibitor displayed a predominantly beta-turn structure while western blots confirmed its ability to protect furin protein from self degradation. CONCLUSION/SIGNIFICANCE: These findings imply its potential as a therapeutic agent for intervention of cancer and other furin-associated diseases

Developments of rubber material wear in conveyer belt system

Regular degradation of rubbers contribute frequent maintenance of conveyer belt system. This paper investigates wear rate and mechanisms of rubber and associated influential parameters based on the information available in literature. Abrasion, fatigue and roll formation are dominate wear mechanisms that are influenced by load, sliding velocity, hardness and friction. Correlations among influential parameters and their effect on rubber wear was established in details. Archad's equation does not work for rubber wear but researchers have proposed equations similar to that. Adhesion wear forms roll in the smooth surface when tear strength of rubber is low. Wear caused by adhesion is abrasion when surface texture is harsh. Hysteresis enhances fatigue wear if the substrate asperities are round or blunt

Discrete Design Optimization of Small Open Type Dry Transformers

Transformers of small ratings have a wide field of application. They are generally designed and fabricated using standard stampings available in the market. The design is made according to guidelines given in text-books. But such guidelines do not yield a cost-optimal solution. It may even fail to give a feasible solution if design variables are not properly chosen. This paper presents a method to get the cost-optimal solution subject to usual design constraints. The line of approach is completely different from that given in the standard text-books. Computer programs have been developed for finding out the cost-optimal design using standard stampings and case studies have been made on its basis

Optimal consumption and investment with bounded downside risk for power utility functions

We investigate optimal consumption and investment problems for a Black-Scholes market under uniform restrictions on Value-at-Risk and Expected Shortfall. We formulate various utility maximization problems, which can be solved explicitly. We compare the optimal solutions in form of optimal value, optimal control and optimal wealth to analogous problems under additional uniform risk bounds. Our proofs are partly based on solutions to Hamilton-Jacobi-Bellman equations, and we prove a corresponding verification theorem. This work was supported by the European Science Foundation through the AMaMeF programme.Comment: 36 page

Nanoscale study of clausthalite-bearing symplectites in Cu-Au-(U) ores: implications for ore genesis

Symplectites comprising clausthalite (PbSe) and host Cu-(Fe)-sulphides (chalcocite, bornite, and chalcopyrite) are instructive for constraining the genesis of Cu-Au-(U) ores if adequately addressed at the nanoscale. The present study is carried out on samples representative of all three Cu-(Fe)-sulphides displaying clausthalite inclusions that vary in size, from a few µm down to the nm-scale ( 265 °C. A minimum temperature of 165 °C is considered for clausthalite-bearing symplectites from the relationships with antiphase boundaries in 6a digenite. The results show that alongside rods, blebs, and needle-like grains of clausthalite within the chalcocite that likely formed via exsolution, a second, overprinting set of replacement textures, extending down to the nanoscale, occurs and affects the primary symplectites. In addition, other reactions between pre-existing Se, present in solid solution within the Cu-(Fe)-sulphides, and Pb, transported within a fluid phase, account for the formation of composite, commonly pore-attached PbSe and Bi-bearing nanoparticles within the chalcopyrite. The inferred reorganisation of PbSe nanoparticles into larger tetragonal superlattices represents a link between the solid solution and the symplectite formation and represents the first such example in natural materials. Epitaxial growth between clausthalite and monazite is further evidence for the interaction between pre-existing Cu ores and fluids carrying REE, P, and most likely Pb. In U-bearing ores, such Pb can form via decay of uranium within the ore, implying hydrothermal activity after the initial ore deposition. The U-Pb ages obtained for such ores therefore need to be carefully assessed as to whether they represent primary ore deposition or, more likely, an overprinting event. A latest phase of fluid infiltration is the recognised formation of Cu-selenide bellidoite (Cu₂Se), as well as Fe oxides.Nicholas D. Owen, Cristiana L. Ciobanu, Nigel J. Cook, Ashley Slattery and Animesh Basa