Collateral constraints and asset prices

We study the effects of collateral constraints in an economy populated by investors with nonpledgeable labor incomes and heterogeneous preferences and beliefs. We show that these constraints inflate stock prices, generate spikes and crashes in price-dividend ratios and volatilities, clustering of volatilities, and leverage cycles. They also lead to substantial decreases in interest rates and increases in Sharpe ratios when investors are anxious about hitting constraints due to production crises in the economy. Furthermore, stock prices have large collateral premiums over nonpledgeable incomes. We derive asset prices and stationary distributions of the investors' consumption shares in closed form

Hofmeister Salts Recover a Misfolded Multiprotein Complex for Subsequent Structural Measurements in the Gas Phase

Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/99628/1/8329_ftp.pdfhttp://deepblue.lib.umich.edu/bitstream/2027.42/99628/2/anie_201301893_sm_miscellaneous_information.pd

Collateral constraints and asset prices

We study the effects of collateral constraints in an economy populated by investors with nonpledgeable labor incomes and heterogeneous preferences and beliefs. We show that these constraints inflate stock prices and generate spikes and crashes in price-dividend ratios and volatilities, clustering of volatilities, and leverage cycles. They also lead to substantial decreases in interest rates and increases in Sharpe ratios when investors are anxious about hitting constraints due to production crises in the economy. Furthermore, stock prices have large collateral premiums over nonpledgeable incomes. We derive asset prices and stationary distributions of the investors' consumption shares in closed form

Study of local diffusion coefficients of the hydration layer of lipid vesicle bilayers

Water molecules near the surface of vesicle bilayers exhibit slow dynamics with respect to that of pure bulk water as they belong to the hydration layer. We present a unique analysis tool for the selective detection of local water of the hydration layer on the surface of unilamellar vesicles and the determination of its diffusion coefficients. We utilized stable nitroxide radicals covalently attached to the hydrophilic head groups of DOPC lipid chains that incorporate along with other lipids into vesicles. Through the use of dynamic nuclear polarization (DNP) the 1H NMR signal of local water interacting with the radical is amplified, and we present here an analysis of the local diffusion coefficients of this hydration layer

Bound Cations Significantly Stabilize the Structure of Multiprotein Complexes in the Gas Phase

Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/91320/1/5790_ftp.pdfhttp://deepblue.lib.umich.edu/bitstream/2027.42/91320/2/ange_201109127_sm_miscellaneous_information.pd

The LIHTC Program, Racially/Ethically Concentrated Areas of Poverty, and High-Opportunity Neighborhoods

The Low-Income Housing Tax Credit ( LIHTC ) program remains the nation\u27s largest affordable housing production program. LIHTC units are under-represented in the neighborhood that both promote movement to high opportunity neighborhoods and affirmatively further fair housing. State and local officials should play an active role in guiding site selection decisions and ensuring that LIHTC developments are located in a manner that affirmatively furthers fair housing. Planners can use newly available data discussed herein to identify high-opportunity tracts

Ocean Wind Speed Measurement Using Wideband GNSS-R Signals

The use of Global Navigation Satellite System-Reflectometry (GNSS-R) for remote sensing of ocean wind speeds has been explored for nearly two decades and has become an important passive remote sensing technique for verification of hurricane formation models. To obtain wind speed measurements, reflected GNSS signals are first cross-correlated with locally generated copies to construct delay-doppler maps (DDMs). Through statistical models, DDMs can provide information about the mean-square slope (MSS) of the ocean surface, which is related to wind speed. Previous studies have focused on legacy signals such as GPS L1. However, it is expected that the MSS relationship with ocean wind field can be better understood by using similar methods with wider bandwidth signals, such as the GPS L5 or Galileo E5 signals. For this research purpose, a prototype data collection system was developed to handle the necessary data sampling speeds for the L5 and E5 signals. This system used a Universal Software Radio Peripheral X300 device configured to sample at 100 MHz. A receiver was designed to generate DDMs with the L5 signal through zero-padded FFT techniques for cross-correlations. Lab tests showed that the resulting DDMs have the proper sinc function behavior with respect to doppler frequency and triangle function behavior to time delay. For future field experiments, data will be obtained by mounting the prototype system to the National Oceanic and Atmospheric Administration (NOAA) Hurricane Hunter aircraft during the 2017 hurricane season, and wind speed retrieval will be performed by analyzing the DDMs generated by the receiver

The LIHTC Program, Racially/Ethnically Concentrated Areas of Poverty, and High-Opportunity Neighborhoods

The Low-Income Housing Tax Credit (“LIHTC”) program remains the na- tion’s largest affordable housing production program. LIHTC units are under-represented in the neighborhoods that both promote movement to high- opportunity neighborhoods and affirmatively further fair housing. State and local officials should play an active role in guiding site selection decisions and ensuring that LIHTC developments are located in a manner that affirmatively furthers fair housing. Planners can use newly available data discussed herein to identify high-opportunity tracts

Muscleblind-like 3 deficit results in a spectrum of age-associated pathologies observed in myotonic dystrophy.

Myotonic dystrophy type I (DM1) exhibits distinctive disease specific phenotypes and the accelerated onset of a spectrum of age-associated pathologies. In DM1, dominant effects of expanded CUG repeats result in part from the inactivation of the muscleblind-like (MBNL) proteins. To test the role of MBNL3, we deleted Mbnl3 exon 2 (Mbnl3(ΔE2)) in mice and examined the onset of age-associated diseases over 4 to 13 months of age. Accelerated onset of glucose intolerance with elevated insulin levels, cardiac systole deficits, left ventricle hypertrophy, a predictor of a later onset of heart failure and the development of subcapsular and cortical cataracts is observed in Mbnl3(ΔE2) mice. Retention of embryonic splice isoforms in adult organs, a prominent defect in DM1, is not observed in multiple RNAs including the Insulin Receptor (Insr), Cardiac Troponin T (Tnnt2), Lim Domain Binding 3 (Ldb3) RNAs in Mbnl3(ΔE2) mice. Although rare DM1-like splice errors underlying the observed phenotypes cannot be excluded, our data in conjunction with the reported absence of alternative splice errors in embryonic muscles of a similar Mbnl3(ΔE2) mouse by RNA-seq studies, suggest that mechanisms distinct from the adult retention of embryonic splice patterns may make important contributions to the onset of age-associated pathologies in DM1