Is housing the business cycle? evidence from U.S. cities

We analyze the relationship between housing and the business cycle in a set of 36 US cities. Most surprisingly, we find that falls in house prices are often not followed by declines in employment. We also find that the leading indicator property of residential investment is not consistent across cities and that, at the national level, the leading indicator property of residential investment is not robust to including financial factors as control variables.Housing ; Housing - Prices ; Business cycles

Differences in subprime loan pricing across races and neighborhoods

We investigate whether race and ethnicity influenced subprime loan pricing during 2005, the peak of the subprime mortgage expansion. We combine loan-level data on the performance of non-prime securitized mortgages with individual- and neighborhood- level data on racial and ethnic characteristics for metropolitan areas in California and Florida. Using a model of rate determination that accounts for predicted loan performance, we evaluate the differences in subprime mortgage rates in terms of racial and ethnic groups and neighborhood characteristics. We find evidence of adverse pricing for blacks and Hispanics. The evidence of adverse pricing is strongest for purchase mortgages and mortgages originated by non-depository institutions.Subprime mortgage; Housing policy; Discrimination in mortgage loans

Implicit theories of emotion shape regulation of negative affect

Mental contrasting of a desired future with the present reality strengthens the link between expectations and goal pursuit: The higher expectations of success, the more people engage in goal pursuit; the lower expectations of success, the more people let go or disengage from goal pursuit. In three studies, we tested if mental contrasting increases the link between expectations and goal pursuit by affecting the strength of mental associations between future and reality. We used lexical decision tasks to measure the strength of associations between future and reality for different domains of goal pursuit (i.e., interpersonal relations, achievement), and compared results in the mental contrasting condition to relevant control conditions (i.e., reverse contrasting and content control). In the mental contrasting condition but not in the control conditions emerged a strong link between expectations of success and the strength of associations between future and reality (Study 1, 2). The strength of associations between future and reality in turn mediated the link between expectations and self-reported as well as other-rated goal pursuit in the mental contrasting condition (Study 1, 2). Finally, the link between expectations and the strength of associations between future and reality in the mental contrasting condition vanished when the goal was attained (Study 3). Taken together, these results suggest that strength of future–reality associations are a mechanism specific to mental contrasting effects on goal pursuit

Differences in Perceived and Experienced Stigma Between Problematic Gamblers and Non-gamblers in a General Population Survey

We consider a sample of about 700 people, interviewed on the streets, who are sorted into two groups by a self-report, screening questionnaire: namely, non-problematic gamblers/non-gamblers and problematic gamblers. Within each group, we compare both social (perceived) stigma and self-perceived (experienced) stigma, measured by means of other two self-report questionnaires, and we seek for relations between stigma and socio-demographic variables that can help targeting possible interventions to reduce gambling-related stigma. We, then, compare stigma between the two groups of non-(problematic) gamblers and problematic ones, and we also check the hypothesis that higher social stigma is related to higher self-perceived stigma, as well as higher stigma is related to lesser help-seeking. The latter hypothesis is of utmost importance, given that stigma is recognised to be one of the major causes for hindering help-seeking by problematic gamblers. The research is carried out in Italy, one of the first countries in the world for the money spent per capita in gambling activity every year

Teaching as a system: COVID-19 as a lens into teacher change

In the spring of 2020, schools and universities around the world were closed because of the COVID-19 pandemic. The relative lockdown affected more than 1.5 billion learners as teachers and students sheltered at home for several weeks. As schooling moved online, teachers were forced to change how they taught. In the research presented here, we focus on university mathematics professors, and we analyze how their practice, knowledge, and beliefs intertwine and change under these circumstances. More specifically, the context of the pandemic and the relative lockdown provides us with the experimental basis to argue that the new practice affected both knowledge and beliefs of mathematics teachers and that practice, knowledge, and beliefs form a system. Being part of a system, the reactions to change in practice can be of two types, namely, the system as a whole tries to resist change, or the system as a whole changes - and it changes significantly. The research presented here proposes a model for describing and analyzing what we called a teaching system and examines three cases that help to better depict the systemic nature of teaching

Study of the Elementary Surgical Procedures and Instruments with Applications in the Micromechanics of Surgery

The theme of this research project is creating different methods suitable to analyze onersquos accuracy. Starting from theoretical studies of medical instruments and procedures, as well as studies of biomechanics of the tissue, we introduce a number of devices that can be used to monitor precision and accuracy. This paper presents and analyzes the most important surgical procedures, all in order to develop several mechanisms able to teach and evaluate aspiring surgeons and even specialists within their subject of work. Final models of the prototypes are also included, where the performance of the surgeon can be interpreted from the pressure they apply to the tissue and the precision of their incision

Deterring default: why some state laws decrease the probability of mortgage foreclosures

Many states give mortgage lenders strong legal means by which to pursue debt collection in the event of a mortgage default. In those states, probability of default is lower and the forms the default takes are often quite different from a costly conventional foreclosure.Consumer finance ; Financial institutions ; Mortgage loans

Boredom, Information-Seeking and Exploration

Any adaptive organism faces the choice between taking actions with known benefits (exploitation), and sampling new actions to check for other, more valuable opportunities available (exploration). The latter involves information- seeking, a drive so fundamental to learning and long-term reward that it can reasonably be considered, through evolution or development, to have acquired its own value, independent of immediate reward. Similarly, behaviors that fail to yield information may have come to be associated with aversive experiences such as boredom, demotivation, and task disengagement. In accord with these suppositions, we propose that boredom reflects an adaptive signal for managing the exploration-exploitation tradeoff, in the service of optimizing information acquisition and long-term reward. We tested participants in three experiments, manipulating the information content in their immediate task environment, and showed that increased perceptions of boredom arise in environments in which there is little useful information, and that higher boredom correlates with higher exploration. These findings are the first step toward a model formalizing the relationship between exploration, exploitation and boredom

Unbinding forces and energies between a siRNA molecule and a dendrimer measured by force spectroscopy

We have measured the intermolecular forces between small interference RNA (siRNA) and polyamidoamine dendrimers at the single molecular level. A single molecule force spectroscopy approach has been developed to measure the unbinding forces and energies between a siRNA molecule and polyamidoamine dendrimers deposited on a mica surface in a buffer solution. We report three types of unbinding events which are characterized by forces and free unbinding energies, respectively, of 28 pN, 0.709 eV; 38 pN, 0.722 eV; and 50 pN, 0.724 eV. These events reflect different possible electrostatic interactions between the positive charges of one or two dendrimers and the negatively charged phosphate groups of a single siRNA. We have evidence of a high binding affinity of siRNA towards polyamidoamine dendrimers that leads to a 45% probability of measuring specific unbinding eventsThis work was funded by the European Research Council ERC-AdG-340177 (3DNanoMech) grant to RG and by the Spanish Ministry of Economy (MINECO) through grants CSD2010-00024, MAT2013-44858-R to RG and BFU2011-30161- C02-01 and BFU2014-59009-P to VC.Peer reviewe