Scarce Collateral and Bank Reserves

If collateral for bank loans is scarce and as a result access to secured loans is restricted, the allocation of resources is inefficient. Anticipating future borrowing constraints, individuals over-invest in collateralized types of capital, whereas consumption and investment expenditures are inefficiently low while individuals are borrowing constrained. The dual counterpart of this misallocation of resources is inefficiently low interest rates. In this situation, bank reserves play a positive welfare role by increasing not only bank lending rates, but also, paradoxically, bank deposit rates. As a result, in economies with scarce collateral the optimal reserves requirement ratio is positive.collateral, banking, reserves, borrowing constraint, reserves requirement.

Intensified cell culture using a linked bioreactor system

As manufacturing capacity becomes limited and demand and competition increases in the biologics space, the need for more flexible, cost effective, and productive biomanufacturing processes grows. We will describe a novel, intensified cell culture process that uses the cell-bleed of an N-1 (or seed) perfusion bioreactor to continuously feed a production-stage continuous-flow stirred-tank bioreactor. This continuously-linked bioreactor system effectively separates cells into two cultures, one a high growth phase, and the second a highly productive stationary phase. The design of the system allows it to operate indefinitely under steady-state conditions with volumetric productivities exceeding 1.0 gram/liter/day, regardless of any cell-specific productivity loss due to cell line instability. Multiple modes of system start-up will be discussed as part of the optimization work performed to date. Due to the unique design of the linked bioreactor system it may be effectively operated at very large scales typically deemed impractical for more conventional perfusion processes, potentially enabling more efficient use of installed production capacity. The linked bioreactor system attained productivities up to 2.4-fold those achieved in the respective commercial-ready, fed-batch processes, while drastically reducing overall process media consumption. Finally, since the production bioreactor operates as a continuous-flow stirred-tank bioreactor the system creates additional flexibility for downstream operations. Cell culture could be harvested continuously, or intermittently on a potentially variable cycle, depending upon facility fit and maximum efficiency using existing large-volume disc-stacked centrifuges. The resulting integrated continuous biomanufacturing system could operate under very nearly true steady-state conditions uninterrupted for months at a time

Struwwelpeter: a song cycle for soprano and chamber ensemble

Title from PDF of title page, viewed on July 1, 2013Thesis advisor: James MobberleyVitaThesis (M.M.)--Conservatory of Music and Dance. University of Missouri--Kansas City, 2013Der Struwwelpeter: A Song Cycle for Soprano and Chamber Ensemble, sets seven of the stories from the iconic, mid-19th century children's story by Heinrich Hoffmann. The text set is from a widely published, anonymous English translation, dating contemporaneously to the original work. Chief among the thematic and compositional problems presented by the text is the question of how best to subvert or embrace the sing-song cadence of the children's poetry and the grotesque imagery. The piece seeks a path that straddles the dual impulses of the poems, creating a work that is simultaneously cute as a button and ugly as sin.Abstract -- Score -- Vit

Innovations in bioreactor operational modes – Hybrid semi-continuous processes to push beyond the limits of conventional fed-batch cultures

Due to the limits of feed volume addition and the problem of amino acid counter ion, miscellaneous osmolyte, and cell growth inhibitor accumulation, the fed-batch mode of bioreactor operation for CHO cell production of protein therapeutics is inherently limited with respect to the cell densities and productivities that are achievable. Continuous or perfusion culture with cell retention can overcome some of these limitations, but suffers from the disadvantages of large volume media consumption, long times to reach peak cell densities, and complications with cell retention devices. We will describe hybrid versions of continuous culture that overcome many of these limitations and utilize a unique and simple technology which allows cells to control their own rate of perfusion with continuous feedback. Volumetric productivities of greater than 1 gram/L/day (more than double the optimized fed-batch culture) for several moderate specific productivity cell lines have been achieved with very modest medium volumes, comparatively simple bioreactor operations, and a batch length that fits in a standard fed-batch window. Methods of operation and experimental results obtained at the pilot scale when coordinating these hybrid continuous cultures with a continuous downstream process will also be discussed

Cell-controlled high-intensity perfusion and hybrid fed-batch systems that drastically reduce perfusion rates and harmonize with continuous downstream processing

Peak cell densities in fed-batch cultures of mammalian cells can be limited by the depletion of nutrients or accumulation of inhibitors. Since addition of nutrients is relatively straight forward, inevitably it is growth inhibitor buildup, combined with the practical limits of feed volume addition and the problem of amino acid counter ion and miscellaneous osmolyte accumulation, that serve to limit productivity in the industry standard fed-batch bioreactor. To break these barriers we have begun to investigate mixed modes of bioreactor operation, some using novel methods for cell-controlled perfusion, which can substantially reduce the volumes of perfusion medium required, suppress lactic acid formation, shorten the time to reach peak cell densities, and reduce the complications associated with cell retention devices. Our methods of high-intensity perfusion and mixed mode bioreactor operation are also more compatible with the move to continuous downstream processing as the stream delivered is more concentrated and provides a more continuous daily mass of product to allow for reduced affinity chromatography scale. The techniques we will describe significantly increase viable cell densities and have achieved volumetric productivities of 1.0-1.5 grams/L/day (nearly 4X the optimized fed-batch culture in one case) for several moderate specific productivity cell lines, while using very modest medium volumes, highly concentrated perfusion media, comparatively simple bioreactor operations, and a batch length that fits in a standard fed-batch window. Methods of operation and experimental results obtained at the pilot (100 liter) scale when coordinating these hybrid continuous cultures with a continuous downstream process will also be discussed

Treatment of malignant tumors of the skull base with multi-session radiosurgery

<p>Abstract</p> <p>Objective</p> <p>Malignant tumors that involve the skull base pose significant challenges to the clinician because of the proximity of critical neurovascular structures and limited effectiveness of surgical resection without major morbidity. The purpose of this study was to evaluate the efficacy and safety of multi-session radiosurgery in patients with malignancies of the skull base.</p> <p>Methods</p> <p>Clinical and radiographic data for 37 patients treated with image-guided, multi-session radiosurgery between January 2002 and December 2007 were reviewed retrospectively. Lesions were classified according to involvement with the bones of the base of the skull and proximity to the cranial nerves.</p> <p>Results</p> <p>Our cohort consisted of 37 patients. Six patients with follow-up periods less than four weeks were eliminated from statistical consideration, thus leaving the data from 31 patients to be analyzed. The median follow-up was 37 weeks. Ten patients (32%) were alive at the end of the follow-up period. At last follow-up, or the time of death from systemic disease, tumor regression or stable local disease was observed in 23 lesions, representing an overall tumor control rate of 74%. For the remainder of lesions, the median time to progression was 24 weeks. The median progression-free survival was 230 weeks. The median overall survival was 39 weeks. In the absence of tumor progression, there were no cranial nerve, brainstem or vascular complications referable specifically to CyberKnife^®radiosurgery.</p> <p>Conclusion</p> <p>Our experience suggests that multi-session radiosurgery for the treatment of malignant skull base tumors is comparable to other radiosurgical techniques in progression-free survival, local tumor control, and adverse effects.</p