High altitude flying

This note investigates the effect of high altitude or low atmospheric pressure upon the operation of an engine and the effect of the low pressure and lack of oxygen and of the very low temperatures upon the pilot and upon the performance of the airplane itself

Are the causes of bank distress changing? can researchers keep up?

Since 1990, the banking sector has experienced enormous legislative, technological and financial changes, yet research into the causes of bank distress has slowed. One consequence is that current supervisory surveillance models may no longer accurately represent the banking environment. After reviewing the history of these models, we provide empirical evidence that the characteristics of failing banks has changed in the last ten years and argue that the time is right for new research employing new empirical techniques. In particular, dynamic models that utilize forward-looking variables and address various types of bank risk individually are promising lines of inquiry. Supervisory agencies have begun to move in these directions, and we describe several examples of this new generation of early-warning models that are not yet widely known among academic banking economists.Bank failures ; Bank supervision

Writing center tutor training: an examination of emphasis on critical pedagogy in tutor training handbooks

Writing center theory has not always emphasized critical pedagogy as part of writing center pedagogy. However, with scholars’ applications of critical lenses such as postmodernism and postcolonialism to critique writing center practice, critical pedagogy has found its way into writing center practices. Self-critical awareness is one key element of critical pedagogy, and through the dialogic application of critical pedagogy in writing center sessions, students can be made aware of the hegemonic nature of academic discourse and why institution and discipline-valued writing is expected over other kinds of writing. Because critical pedagogy has value in writing center contexts, both for the writing tutor and tutee, for this project I analyzed five writing center tutor training handbooks to examine how and/or whether critical pedagogy is emphasized in tutor training. One handbook is a mass-marketed text while the other four are institution-specific texts representative to their particular writing center. I used five search terms for textual analyses to detect explicit or implicit references to critical pedagogy: critical pedagogy, critical, pedagogy, philosophy, andtheory.My findings strongly suggest that critical pedagogy is not adequately stressed in writing center tutor training handbooks, even though multiple writing center scholars have called attention for the need to implement critical pedagogy in writing center pedagogy. As a result of the discrepancy between writing center theory and critical pedagogical theory application in writing center pedagogy, I argue that critical pedagogy should be emphasized and made explicit in writing center tutor training curricula, including tutor training handbooks

The Surface Tension of Molten Slags

1. The adaptation of the ring method of measuring surface tension to work on slags at high temperatures has proved successful. The apparatus developed is capable of measuring the surface tension of the more fluid slags up to 160

Are the causes of bank distress changing? can researchers keep up?

Since 1990, the banking sector has experienced enormous legislative, technological, and financial changes, yet research into the causes of bank distress has slowed. One consequence is that traditional supervisory surveillance models may not capture important risks inherent in the current banking environment. After reviewing the history of these models, the authors provide empirical evidence that the characteristics of failing banks have changed in the past ten years and argue that the time is right for new research that employs new empirical techniques. In particular, dynamic models that use forward-looking variables and address various types of bank risk individually are promising lines of inquiry. Supervisory agencies have begun to move in these directions, and the authors describe several examples of this new generation of early-warning models that are not yet widely known among academic banking economists.Bank supervision ; Risk management

Discipline and liquidity in the market for federal funds

I find that high-risk banks pay more for federal funds and are less likely to utilize them as a source of liquidity. The extent of this discipline has risen in recent years, following legislation designed to impose more of the costs of bank failure on uninsured creditors. However, the risk-pricing remains imperfect, and additional results suggest that information problems persist in the fed-funds market. The findings have implications for interest-rate determination, risk contagion in the financial system, the use of market data in banking supervision, and recent efforts to reform Discount Window operations.Federal funds market (United States) ; Discount ; Liquidity (Economics)

Labor productivity and job-market flows: trends, cycles, and correlations

I derive measures of U.S. job-separation and job-matching rates from aggregate Current Population Survey data. Using an unrestricted unobserved-components approach, I decompose these series into trends and cycles and compare the results with the trend and cyclical behavior of labor-productivity growth. Both transitory and permanent shocks to productivity are strongly positively correlated with fluctuations in the rate of job matching and negatively correlated with cyclical fluctuations in separation rates. Productivity growth thereby accounts for about a third of the overall variation in the unemployment rate. However, it displays only weak correlation with trend separation rates. Because trend movements in unemployment are dominated by permanent changes in separation rates, productivity shocks alone cannot account for most of the movement in the natural rate of unemployment over time.Labor productivity ; Employment (Economic theory)

Static and Dynamic Resource Allocation Effects of Corporate and PersonalTax Integration in the U.S.: A General Equilibrium Approach(Rev)

This paper presents estimates of static and dynamic general equilibrium resource allocation effects for four alternative plans for corporate and personal income tax integration in the U.S. A medium—scale numerical general equilibrium model is used which integrates the U.S. tax system with consumer demand behavior by household and producer behavior by industry. Results indicate that total integration of personal and corporate taxes would yield an annual static efficiency gain of around $4 billion (1973 dollars). Partial integration plans yield less. Dynamic effects are larger, and our analysis indicates that full integration may yield gains whose present value is as large as$400 billion or 0.8% of the discounted present value of the GNP stream to the U.S. economy after correction for population growth. Plans differ in their distributional impacts, although these findings depend on the nature of replacement taxes used to preserve government revenues. The size of dynamic resource allocation effects are sensitive to the choice of the replacement tax, while static gains are reasonably robust.

Do jumbo-CD holders care about anything?

Uninsured deposits represent a theoretically appealing but relatively untested alternative to subordinated debt for incorporating market discipline into banking supervision. To make the deposit market a useful supervisory tool, it is necessary to know what types of risk are priced by depositors and in what proportions. Using a clustering technique to select from among a large set of potential regressors, as well as a carefully chosen set of control variables, we attempt to determine the types of risk that cause uninsured depositors to react in both the price and quantity dimensions. As a benchmark for economic significance, we estimate similar regressions on supervisory ratings. We find that, in contrast to government supervisors, depositors have not priced most types of risk since 1997. Indeed, the only risk variables that consistently come up as statistically significant are those that measure capital adequacy. Our interpretation of these results is that, because aggregate banking conditions are good, it is not worth depositors' effort to investigate individual bank quality very carefully. We conclude that, in the current economic and regulatory environment, the market is content to delegate most of its monitoring and discipline to the government. To the extent that it does monitor, it only monitors capital. The jumbo-CD market is thus not likely to be of much supervisory use, particularly given that examiners already have good information about capital levels. The depositor emphasis on capital also supports the conjecture that market discipline was responsible for much of the recent capital build-up.Bank deposits ; Bank supervision

Coexpression of rat P2X2 and P2X6 subunits in Xenopus oocytes.

Transcripts for P2X(2) and P2X(6) subunits are present in rat CNS and frequently colocalize in the same brainstem nuclei. When rat P2X(2) (rP2X(2)) and rat P2X(6) (rP2X(6)) receptors were expressed individually in Xenopus oocytes and studied under voltage-clamp conditions, only homomeric rP2X(2) receptors were fully functional and gave rise to large inward currents (2-3 microA) to extracellular ATP. Coexpression of rP2X(2) and rP2X(6) subunits in Xenopus oocytes resulted in a heteromeric rP2X(2/6) receptor, which showed a significantly different phenotype from the wild-type rP2X(2) receptor. Differences included reduction in agonist potencies and, in some cases (e.g., Ap(4)A), significant loss of agonist activity. ATP-evoked inward currents were biphasic at the heteromeric rP2X(2/6) receptor, particularly when Zn(2+) ions were present or extracellular pH was lowered. The pH range was narrower for H(+) enhancement of ATP responses at the heteromeric rP2X(2/6) receptor. Also, H(+) ions inhibited ATP responses at low pH levels (<pH 6.3). The pH-dependent blocking activity of suramin was changed at this heteromeric receptor, although the potentiating effect of Zn(2+) on ATP responses was unchanged. Thus, the rP2X(2/6) receptor is a functionally modified P2X(2)-like receptor with a distinct pattern of pH modulation of ATP activation and suramin blockade. Although homomeric P2X(6) receptors function poorly, the P2X(6) subunit can contribute to functional heteromeric P2X channels and may influence the phenotype of native P2X receptors in those cells in which it is expressed