Japan: The banks are back! Or are they?

Since fiscal 2003, the 'performance' of the Japanese banking sector, in terms of profitability, asset quality, and capital adequacy, has improved markedly as the real economy has recovered, suggesting that the widespread pessimism (see, for example, Hall, 2006 and IMF, 2003) expressed earlier concerning the fragility of the sector was somewhat overdone. Yet, despite these positive developments, a number of serious challenges still face the Japanese banking industry and their supervisors. Core profitability, for example, remains very weak, in part due to wafer thin lending margins at home and sluggish corporate loan demand. Asset quality has also widely suffered because of exposure to the re-regulated consumer finance industry and the US sub-prime market. And controversy still surrounds the issues of bank "under-reserving" and regulatory tolerance of "double gearing" on the capital adequacy front. These, and other, problems must be resolved if Japanese banks are to finally re-claim the ground lost to international competitors over the last 15 years or so and secure lasting improvement in their financial health.Japanese Banking; Performance – Capital Adequacy and Profitability; Supervision; Financial Stability.

BANK BAILOUT MARK "II" : WILL IT WORK?

On 19 January 2009, the UK Government unveiled a second comprehensive bank bailout plan. This followed the failure of its October bailout package to stimulate domestic lending, as intended. The various components of the new "rescue package" are duly explained and analysed in this article, which also addresses the likely future course of policy should the Government fail in its latest ambitions to stimulate lending and thereby revive the flagging economy.UK banks; banking regulation and supervision; central banking; failure resolution.

Pupil participation in Scottish schools: final report

This research was commissioned by Learning and Teaching Scotland (LTS) to evaluate the nature of pupil participation in primary and secondary schools across Scotland. The specific objectives of the research were: <p>· To describe what school staff and pupils understand by the term ‘pupil participation’.</p> <p>· To describe the range and usage of pupil participation mechanisms employed in schools.</p> <p>· To describe how school staff respect and respond to pupils’ views and ideas, and those of the wider community.</p> <p>· To identify the characteristics of schools and classrooms that facilitate effective pupil participation.</p> <p>· To identify possible barriers to the development of pupil participation in schools and to make suggestions about how these can be overcome.</p> <p>· To capture examples of effective practice of pupil participation.</p> <p>· To make suggestions about how pupil participation can help support the implementation of the Curriculum for Excellence.</p&gt

Surface roughness detector Patent

Roughness detector for recording surface pattern of irregularitie

How legislators respond to localized economic shocks: evidence from Chinese import competition

We explore the effects of localized economic shocks from trade on roll-call behavior and electoral outcomes in the US House, 1990–2010. We demonstrate that economic shocks from Chinese import competition—first studied by Autor, Dorn, and Hanson—cause legislators to vote in a more protectionist direction on trade bills but cause no change in their voting on all other bills. At the same time, these shocks have no effect on the reelection rates of incumbents, the probability an incumbent faces a primary challenge, or the partisan control of the district. Though changes in economic conditions are likely to cause electoral turnover in many cases, incumbents exposed to negative economic shocks from trade appear able to fend off these effects in equilibrium by taking strategic positions on foreign-trade bills. In line with this view, we find that the effect on roll-call voting is strongest in districts where incumbents are most threatened electorally. Taken together, these results paint a picture of responsive incumbents who tailor their roll-call positions on trade bills to the economic conditions in their districts

A Feasibility Study of the Flare-Cylinder Configuration as a Reentry Body Shape for an Intermediate Range Ballistic Missile

A study has been made of a flare-cylinder configuration to investigate its feasibility as a reentry body of an intermediate range ballistic missile. Factors considered were heating, weight, stability, and impact velocity. A series of trajectories covering the possible range of weight-drag ratios were computed for simple truncated nose shapes of varying pointedness, and hence varying weight-drag ratios. Four trajectories were chosen for detailed temperature computation from among those trajectories estimated to be possible. Temperature calculations were made for both "conventional" (for example, copper, Inconel, and stainless steel) and "unconventional" (for example, beryllium and graphite) materials. Results of the computations showed that an impact Mach number of 0.5 was readily obtainable for a body constructed from conventional materials. A substantial increase in subsonic impact velocity above a Mach number of 0.5 was possible without exceeding material temperature limits. A weight saving of up to 134 pounds out of 822 was possible with unconventional materials. This saving represents 78 percent of the structural weight. Supersonic impact would require construction of the body from unconventional materials but appeared to be well within the range of attainability

Automatic water inventory, collecting, and dispensing unit

Two cylindrical tanks with piston bladders and associated components for automatic filling and emptying use liquid inventory readout devices in control of water flow. Unit provides for adaptive water collection, storage, and dispensation in weightlessness environment

Singlet baryons in the graded symmetry approach to partially quenched QCD

Progress in the calculation of the electromagnetic properties of baryon excitations in lattice QCD is presenting new challenges in the determination of sea-quark loop contributions to matrix elements. A reliable estimation of the sea-quark loop contributions presents a pressing issue in the accurate comparison of lattice QCD results with experiment. In this article, an extension of the graded symmetry approach to partially quenched QCD is presented, which builds on previous theory by explicitly including flavor-singlet baryons in its construction. The formalism takes into account the interactions among both octet and singlet baryons, octet mesons, and their ghost counterparts; the latter enables the isolation of the quark-flow disconnected sea-quark loop contributions. The introduction of the flavor-singlet states anticipates the application of the method to baryon excitations such as the lowest-lying odd-parity Lambda baryon, the Lambda(1405), which is considered in detail as a worked example.Comment: arXiv copy updated to published version: Phys. Rev. D 94, 094004 (2016

National Aeronautics and Space Administration operations: Remote sensing experiments in the New York Bight, 7-17 April 1975

Results are given of remote sensing experiments conducted in the New York Bight between April 7-17, 1975, to evaluate the role of remote sensing technology to aid in monitoring ocean dumping. Remote sensors were flown on the C-54, U-2, and C-130 aircraft while the National Oceanic and Atmospheric Administration obtained concurrent in situ sea truth data using helicopters and surface platforms. The test site, aircraft platforms, experiments, and supporting sensors are described. The operation of each aircraft are discussed and aircraft flight lines, flight parameters, and data identification parameters are presented in figures and tables