Consistent Re-Calibration of the Discrete-Time Multifactor Vasi\v{c}ek Model

The discrete-time multifactor Vasi\v{c}ek model is a tractable Gaussian spot rate model. Typically, two- or three-factor versions allow one to capture the dependence structure between yields with different times to maturity in an appropriate way. In practice, re-calibration of the model to the prevailing market conditions leads to model parameters that change over time. Therefore, the model parameters should be understood as being time-dependent or even stochastic. Following the consistent re-calibration (CRC) approach, we construct models as concatenations of yield curve increments of Hull-White extended multifactor Vasi\v{c}ek models with different parameters. The CRC approach provides attractive tractable models that preserve the no-arbitrage premise. As a numerical example, we fit Swiss interest rates using CRC multifactor Vasi\v{c}ek models.Comment: 29 pages, 16 figures, 2 table

Music in California State Institutions

The institutions included in this study are all maintained and controlled by the State of California. However, the music program is not outlined or prescribed by the State but is arranged by the administration of each institution. Consequently, one institution music program differs from another, and it was necessary to contact each institution in order to get the information included in this report. Since very little material is available on this subject, it was necessary to obtain most of this information first hand. The methods employed were questionnaire and correspondence, direct interviews with superintendents and musical directors, and observation. An effort was made to get a complete picture of the music situation in each institution. The Department of Institutions does not keep a record of music schedules in the various institutions and no reports concerning music are available. Direct quotations concerning the value of music were recorded in order to note the opinions of various superintendents and other authorities in charge. The superintendents and other employees concerned extended me every courtesy in their power, and co-operated to the fullest extent in making this survey

The Abolishment and Fulfillment of the Law in the New Testament: The Try of a Harmonic Reading of the New Testament Teachings Regarding the Law

Problem A central issue in the covenant theology is the change in the law between the OT and the NT. Interpretations vary between the widely spread belief that the entire law has been abolished, up to the belief that the Jewish festivals should still be an obligation for each follower of Christ. The result of investigations regarding the changes in the law depends mainly on underlying presuppositions and different hermeneutical approaches. Method This study is based on three basic principles: (a) the acceptance of Christ as the Lawgiver and central Teacher of the law in the OT and the NT; (b) the belief in the inner harmony of the Bible; and (c) the Bible explains itself, moving from simple to complex. These principles are systematically applied on the Biblical books in regard to their approximate time in history. In doing so, the main chapter is divided into three sections. The first section investigates the fulfillment of the law: beginning with Christ’s utterances, followed by His disciples’ approach and finally, by James’s interpretation. The principles drawn from this section form the foundation for the following sections. The second section carefully examines Paul’s understanding of the fulfillment of the law. The third section deals with the fulfillment in Hebrews, which includes a brief connection between the principles of fulfillment and the covenant theology. The most noteworthy scholarly approaches will partially be discussed in the footnotes when fundamental issues in critical passages are addressed. Results Since the ascension of Christ, the fulfillment of law has been discussed. While the apostles’ counsel gained unity in their understanding, the latter church failed to do so. The variety of approaches increased with a growing number of presuppositions and hermeneutical approaches. This study indicates that a major reason for many contradictions is the neglect of the Sola Scriptura principles of inner harmony and interpretation while the consequent application of such reveals a harmonious NT teaching of the law’s fulfillment. Conclusions This study excavated the three basic principles of the law’s fulfillment in the NT: First, the Bible differentiates the eternal law of God from the temporal, Mosaic law. Second, fulfillment is not equal to removal, but an increase of the prior standards. Third, fulfillment encloses a shift from earthly to heavenly, from literal to spiritual

National security: A propositional study to develop resilience indicators as an aid to personnel vetting

Within the National Security domain there is a convergence of security responsibility across the national security agencies, law enforcement and private security sectors. The sensitivity of this environment requires individuals operating in the domain to be honest, trustworthy and loyal. Personnel vetting is a formal process used to determine an individual’s suitability for access to this domain. Notwithstanding this process, significant breaches of trust, security, and corruption still occur. In psychology, resilience is a well researched phenomenon that is considered a multidimensional construct where individual attributes, family aspects and social environment interact in aiding individuals to deal with vulnerability. There are many understandings and definitions of resilience based on theorists’ different perspectives; however, most agree that resilience is represented by a minimum of two aspects. The first is adversity and second, how the individual deals with adversity that demonstrates situational adaptation in a positive manner. The study is a work in progress and proposes the use of a recently developed Lifespan Resilience Scale. This scale will use resilience markers as an aid to National Security by providing vetting agencies with an additional tool for proactive intervention. The Lifespan Resilience Scale is currently undergoing reliability and validity testing within a student population. Once validated within this population, the scale will be adjusted and tested within the vetting environment using cross validated cohorts and expert opinion. Such a tool will assist National Security through better personnel risk management

Hearing in the Juvenile Green Sea Turtle (Chelonia mydas): A Comparison of Underwater and Aerial Hearing Using Auditory Evoked Potentials

Sea turtles spend much of their life in aquatic environments, but critical portions of their life cycle, such as nesting and hatching, occur in terrestrial environments, suggesting that it may be important for them to detect sounds in both air and water. In this study we compared underwater and aerial hearing sensitivities in five juvenile green sea turtles (Chelonia mydas) by measuring auditory evoked potential responses to tone pip stimuli. Green sea turtles detected acoustic stimuli in both media, responding to underwater stimuli between 50 and 1600 Hz and aerial stimuli between 50 and 800 Hz, with maximum sensitivity between 200 and 400 Hz underwater and 300 and 400 Hz in air. When underwater and aerial hearing sensitivities were compared in terms of pressure, green sea turtle aerial sound pressure thresholds were lower than underwater thresholds, however they detected a wider range of frequencies underwater. When thresholds were compared in terms of sound intensity, green sea turtle sound intensity level thresholds were 2–39 dB lower underwater particularly at frequencies below 400 Hz. Acoustic stimuli may provide important environmental cues for sea turtles. Further research is needed to determine how sea turtles behaviorally and physiologically respond to sounds in their environment

Budget review 2008-09

This report provides an overall examination of the budget and detailed analysis in selected areas. The briefs are organised according to the subject matter discussed and the perspective adopted in the analysis. The opening feature article in the economic issues section provides a macroeconomic analysis and commentary of the budget including the key assumptions underpinning the government’s fiscal policy and the main spending and taxing features contained in the budget. The article also provides a discussion on a range of economic indicators and forecasts and an overview on a range of international issues impacting on this year’s Budget. The remaining articles are more tightly focused and examine the impact of the budget across a broad range of specific issues and initiatives

Developing Novel Nanoparticulated Imaging System using Luminescence Enhancement of Eu(III) and TB(III) by Single-Strand DNA Encapsulation

Non-toxic biosensors are encountering an increase in attention for use in understanding the fate of cells and as a diagnostic tool. Development and incorporation of suitable fluorophores into biological molecules is the key for monitoring proteins in vivo research. This study investigated the enhanced emission of Eu (III) and Tb (III) upon binding to the four DNA bases and their respective nucleotides, found the best ratio for effective energy transfer, and developing nanoparticles to deliver the biosensor into the cells. It is well known that Eu (III) and Tb (III) exhibit very distinctive photo-characteristics. The luminescence of these two lanthanides is weak due to low absorption cross sections. Conversely, the emission of both trivalent ions, upon irradiation, in aqueous solution, is strong when bound to complex ligand systems. The luminescent enhancement is the result of energy transfer (EnT) and the binding with single-stranded DNA, making these ions perfect candidates for luminescent probes (1). The emission lanthanides theory by G.A. Crosby establishes that the intramolecular energy transfer in a lanthanide complex is when the lowest triplet state energy level of the complex equals or lies above the resonance level of the lanthanide (2) To overcome the inherently low absorption of lanthanide ions, researchers have developed sensitizing fluorophores that upon excitation, transfer energy to the lanthanide (3) (4). One problem with luminescence in an aqueous solution is that another pathway is available for deactivation of the excited state of the lanthanide, in the form of vibrational energy transfer to water molecules (1). Early research shows that quenching of luminescence is minimized by using ligands which tended to encapsulate the lanthanide ion (1). Longer emission lifetimes and greater quantum yield intensities can be accomplished by either chelation by ligands (5)or encapsulation of the lanthanides. We ascertained the maximum enhancement for the lanthanide ions occurred through the interaction with the base guanine or its nucleotide guanosine 5’-monophosphate disodium salt. The research initially pursued the encapsulation of the lanthanide ions by single-strand oligonucleotides as a biosensor. However, an alternative delivery method based on inverse micelles and liposomes was developed and it proved to be economical and simple to encapsulate and deliver the biosensor into the cells. The creation of a double emulsion, or water-oil-water system, and the encapsulation (using palmitic acid as surfactant) of the water soluble biosensors were successful. This thesis determined the particle size achieved of 75nm, for both lanthanides had fallen into the nanoemulsions range. Their small size permits the nanoparticles to be injected intravenously(6). The in vitro toxicity of the nanoparticles, with both luminescence biosensors, was assessed by BCA assay. Results supported both luminescence nanoparticles biosensors were non toxic to human cells. Therefore, these NP’s have a potential to provide a unique detection signature as a contrast agent suitable for medical applications (7). It has been published that nanoparticles (NPs) can rapidly be transported to the liver (about 90%), then kidneys and other organs (8). After a period of time, the NPs are expelled from the human body through feces and urine, unless the size of the NPs is larger than 200 nm, in which case the NPs are retained / trapped by the liver. The particle size obtained in this research, 75nm, is a good indication that the biosensor will have a safe disposal from the body

Positive and Negative Experiences of Career Technical Secondary Students in Online Courses

Research indicates that secondary students who are successful in online classes share common traits. However, many secondary career technical education (CTE) students taking online courses do not demonstrate the traits identified for success. CTE students may not benefit from online classes unless they are designed with their needs in mind. The purpose of this study was to investigate current CTE student experiences with online classes at a single career center. The research questions investigated CTE experiences with online classes, positive and negative online design features, and the hybrid classroom. The theoretical framework was constructivism. The purposive sample included 12 student participants (3 participants from each of 4 CTE career clusters) and 1 paraprofessional in charge of the classroom. Data included individual and small group interviews and observations. Participants reported that the current online course design, primarily text followed by a traditional assessment, was problematic. Instructional design features that assisted CTE students included individual pacing, instant feedback on assessments, and class organization. Features that did not assist students included content issues, technology issues, and limited testing options. Hybrid environment features that assisted CTE students included having a set time and place, access to technology, and the support of a paraprofessional. Career technical education in general may benefit from this research. Effective online education may provide greater opportunities for a larger audience of learners; their improved preparation helps students contribute more to the work force and gain more in terms of career success