Pricing mortgages: an options approach

Mortgages ; Options (Finance) ; Prices

Pricing debt instruments: the options approach

Options (Finance)

Rare case of an adult male Montagu's Harrier Circus pygargus over-summering in West Africa, as revealed by GPS tracking

Over-summering within or near the African wintering range by immature, non-breeding individuals occurs regularly in several species of long-distance migratory raptors, yet the extent of over-summering in Africa by adult birds remains unclear. In this study, we describe a case of an adult Montagu's Harrier over-summering in Africa, as revealed by GPS tracking. By relating detailed knowledge of the bird's movements to remotely sensed environmental data (normalized difference vegetation index, NDVI), we show that over-summering in this case was likely related to an exceptionally difficult breeding season the previous year rather than an effect of adverse weather conditions encountered during the winter or a failed attempt to migrate. Various factors are discussed as potential driving forces behind the bird's intra-African movements. Finally, we relate the documented case to a large number of North European Montagu's Harriers studied by telemetry and show that over-summering in Africa by adult individuals is indeed a rare event

Brownian motion: a paradigm of soft matter and biological physics

This is a pedagogical introduction to Brownian motion on the occasion of the 100th anniversary of Einstein's 1905 paper on the subject. After briefly reviewing Einstein's work in its contemporary context, we pursue some lines of further developments and applications in soft condensed matter and biology. Over the last century Brownian motion became promoted from an odd curiosity of marginal scientific interest to a guiding theme pervading all of the modern (live) sciences.Comment: 30 pages, revie

Advances in Global and Local Helioseismology: an Introductory Review

Helioseismology studies the structure and dynamics of the Sun's interior by observing oscillations on the surface. These studies provide information about the physical processes that control the evolution and magnetic activity of the Sun. In recent years, helioseismology has made substantial progress towards the understanding of the physics of solar oscillations and the physical processes inside the Sun, thanks to observational, theoretical and modeling efforts. In addition to the global seismology of the Sun based on measurements of global oscillation modes, a new field of local helioseismology, which studies oscillation travel times and local frequency shifts, has been developed. It is capable of providing 3D images of the subsurface structures and flows. The basic principles, recent advances and perspectives of global and local helioseismology are reviewed in this article.Comment: 86 pages, 46 figures; "Pulsation of the Sun and Stars", Lecture Notes in Physics, Vol. 832, Rozelot, Jean-Pierre; Neiner, Coralie (Eds.), 201

Neuregulin and BDNF Induce a Switch to NMDA Receptor-Dependent Myelination by Oligodendrocytes

<div><p>Myelination is essential for rapid impulse conduction in the CNS, but what determines whether an individual axon becomes myelinated remains unknown. Here we show, using a myelinating coculture system, that there are two distinct modes of myelination, one that is independent of neuronal activity and glutamate release and another that depends on neuronal action potentials releasing glutamate to activate NMDA receptors on oligodendrocyte lineage cells. Neuregulin switches oligodendrocytes from the activity-independent to the activity-dependent mode of myelination by increasing NMDA receptor currents in oligodendrocyte lineage cells 6-fold. With neuregulin present myelination is accelerated and increased, and NMDA receptor block reduces myelination to far below its level without neuregulin. Thus, a neuregulin-controlled switch enhances the myelination of active axons. <i>In vivo</i>, we demonstrate that remyelination after white matter damage is NMDA receptor-dependent. These data resolve controversies over the signalling regulating myelination and suggest novel roles for neuregulin in schizophrenia and in remyelination after white matter damage.</p></div

A Critical Analysis of Capital Controls: Implications for Crisis Prevention and Economic Performance

This paper researches the effects of capital controls on the financial system's stability, finding that such regulatory measures mitigate the risk of banking crises (a favourable outcome) while constraining economic growth (an adverse outcome). We deployed a dynamic panel logit model incorporating fixed effects to scrutinise data from diverse emerging and advanced economies from 2000 to 2022. Further, an impulse response function analysis was employed to gauge the aggregate impact of capital controls. We find that although capital controls can underpin economic stability, they can also trigger instability by inhibiting economic development. Notably, the benefits of diminishing the likelihood of a financial crisis tends to outweigh the negative ramifications for economic growth. Moreover, while the effects of capital controls manifest differently between emerging markets and developed economies, the influence of these controls persists across the spectrum of their intensity in both contexts. This is particularly salient for policymakers navigating the delicate interplay between capital movement regulations and the overarching objectives of economic expansion and financial stability. © 2023 Informa UK Limited, trading as Taylor & Francis Group