House Prices and Economic Risks - Are Irish Households Rational?

This study analyzes the evolution of house prices in Ireland and investigates the question of whether Irish households are overexposed to certain economic risks rendering the decision to buy a house too risky and hence irrational. We use a simple theoretical framework to demonstrate the investment options of a typical household and derive the risk factors associated with the purchase of a house with respect to other types of investment. Irish households hold the majority of their investments in property, specifically in their own houses. The empirical results illustrate that this wealth is exposed to inflation, interest rate changes and the business cycle. This exposure, while not problematic in times of low interest rates, moderate inflation and economic expansion, amplifies the risk to the value of households’ investments if inflation increases, interest rates rise or the economy is in recession. We argue that the adoption of the euro has increased this risk because interest rates are exogenous to the Irish economy which could lead to a situation of deteriorating economic conditions and rising interest rates. Our findings indicate that Irish households potentially underestimate the risk of buying a house. Viewing the purchase of a house as a risky investment could help reduce private debt in the future.

The Benefits of Financial Markets: A Case Study of European Football Clubs

This study analyses the performance of European football clubs which undergo an initial public offering (IPO). We use a unique time-series and cross-section dataset consisting of domestic and international performance data to develop an event study to investigate the effects of a football club’s on-field performance before and after the IPO. The study follows from the observation that, as financial markets are expected to exhibit a positive influence on the economy as a whole, football clubs who access these markets should benefit as well. However, the conclusions of our study are similar to those in the corporate finance literature, where firms who undertake an IPO find their stock price underperforming similar firms in the medium term. Using our metric, football clubs have a diminished domestic and international performance after the stock market listing.

Increasing Ultrasound-Guided Thyroid Biopsy Yield

Objectives: Conduct Plan-Do-Study-Act (PDSA) performance improvement project to improve thyroid biopsy yield Short Term\u3ereduce unsuccessful biopsies by 50% Long-Term\u3eeliminate unsuccessful biopsieshttps://jdc.jefferson.edu/patientsafetyposters/1064/thumbnail.jp

FUNCTIONALIZATION OF SILVER NANOPARTICLES ON MEMBRANES AND ITS INFLUENCE ON BIOFOULING

Ultrafiltration (UF) processes are often used as pretreatment before more retentive/costly processes, such as nanofiltration and reverse osmosis. This study shows the results of low-biofouling nanocomposite membranes, loaded with casein-coated silver nanoparticles (casein-Ag-NPs). Membranes were cast and imbedded with Ag-NPs using two approaches, physical blending of Ag-NPs in the dope solution (PAg-NP/CA membranes) and chemical attachment of Ag-NPs to cast membranes (CAg-NP/CA membranes), to determine their biofouling control properties. The functionalization of Ag-NPs onto the CA membranes was achieved via attachment with functionalized thiol groups with the use of glycidyl methacrylate (GMA) and cysteamine chemistries. The immobilization chemistry successfully prevented leaching of silver nanoparticles during cross-flow studies. Pseudomonas fluorescens Migula in brackish water was used for short-term dead-end filtration, where CA and CAg-NP/CA membranes displayed lower flux declines as compared to PAg-NP/CA membranes. In subsequent long-term biofouling studies, also with Pseudomonas fluorescens Migula in brackish water with addition of sodium acetate, chemically-attached Ag-NPs led to a significant reduction in the accumulation of bacterial cells, likely due to the more dispersed nanoparticles across the surface. Therefore, a method was developed to chemically immobilize Ag-NPs to membranes without losing Ag-NP’s antimicrobial properties

No New Tax Cuts? Examining the Rescue Plan\u27s New State Tax Limits

In this article, Clarke and Fox examine the American Rescue Plan Act’s restrictions on state tax cuts, arguing that the restrictions are a variation on more familiar maintenance-of-effort provisions. These provisions are common, and are designed to help ensure that federal grants supplement rather than supplant state spending by requiring the state to maintain its level of spending on a program. Clarke and Fox conclude that the Rescue Plan’s requirements create similar incentives, and argue that the similarity makes it more likely that the act’s tax provisions are consonant with the Constitution’s spending clause

Upper limits for PH3 and H2S in Titan's Atmosphere from Cassini CIRS

We have searched for the presence of simple P and S-bearing molecules in Titan's atmosphere, by looking for the characteristic signatures of phosphine and hydrogen sulfide in infrared spectra obtained by Cassini CIRS. As a result we have placed the first upper limits on the stratospheric abundances, which are 1 ppb (PH3) and 330 ppb (H2S), at the 2-sigma significance level.Comment: 12 pages text, 1 table, 2 figure

Measurement of CH3_3D on Titan at Submillimeter Wavelengths

We present the first radio/submillimeter detection of monodeuterated methane (CH$_3$D) in Titan's atmosphere, using archival data from of the Atacama Large Millimeter/submillimeter Array (ALMA). The $J_K=2_1-1_1$ and $J_K=2_0-1_0$ transitions at 465.235 and 465.250 GHz ($\sim0.644$ mm) were measured at significance levels of $4.6\sigma$ and $5.7\sigma$, respectively. These two lines were modeled using the Non-linear optimal Estimator for MultivariatE spectral analySIS (NEMESIS) radiative transfer code to determine the disk-averaged CH$_3$D volume mixing ratio = $6.157\times10^{-6}$ in Titan's stratosphere (at altitudes $\gt130$ km). By comparison with the CH$_4$ vertical abundance profile measured by Cassini-Huygens mass spectrometry, the resulting value for D/H in CH$_4$ is $(1.033\pm0.081)\times10^{-4}$. This is consistent with previous ground-based and in-situ measurements from the Cassini-Huygens mission, though slightly lower than the average of the previous values. Additional CH$_3$D observations at higher spatial resolution will be required to determine a value truly comparable with the Cassini-Huygens CH$_4$ measurements, by measuring CH$_3$D with ALMA close to Titan's equator. In the post-Cassini era, spatially resolved observations of CH$_3$D with ALMA will enable the latitudinal distribution of methane to be determined, making this an important molecule for further studies.Comment: 9 pages, 4 figure