The Effect of Income and Collateral Constraints on Residential Mortgage Terminations

The prepayment behavior of home mortgage borrowers has been widely observed to be inconsistent with behavior implied by classical option theory. A substantial literature has emerged examining the problem, focusing on the characteristics of the mortgage and on the historic path of interest rates in attempting to explain the anomaly. This paper offers contributions to the literature in three respects. First, it explores the influence of household level characteristics upon prepayment behavior, using both householder characteristics and collateral (house) value. Second, it empirically recognizes important interactions between the status of the prepayment option and the influence of income and collateral constraints upon prepayment behavior. Third, it uses a major source of data that has not previously been used in examining the prepayment anomaly: the American Housing Survey. Among the findings are the following: when the household is either collateral constrained or income constrained, or the option is likely to be out of the money, the influence of the option value upon prepayment behavior is less by half. When the status of the option and the influence of potential household constraints are more appropriately recognized, these factors account for nearly all explanatory power otherwise attributable to household demographic characteristics.

Research Investments and Market Structure in the Food Processing, Agricultural Input, and Biofuel Industries Worldwide

Meeting growing global demand for food, fiber, and biofuel requires robust investment in agricultural research and development (R&D) from both public and private sectors. This study examines global R&D spending by private industry in seven agricultural input sectors, food manufacturing, and biofuel and describes the changing structure of these industries. In 2007 (the latest year for which comprehensive estimates are available), the private sector spent 19.7 billion on food and agricultural research (56 percent in food manufacturing and 44 percent in agricultural input sectors) and accounted for about half of total public and private spending on food and agricultural R&D in high-income countries. In R&D related to biofuel, annual private-sector investments are estimated to have reached 1.47 billion worldwide by 2009. Incentives to invest in R&D are influenced by market structure and other factors. Agricultural input industries have undergone significant structural change over the past two decades, with industry concentration on the rise. A relatively small number of large, multinational firms with global R&D and marketing networks account for most R&D in each input industry. Rising market concentration has not generally been associated with increased R&D investment as a percentage of industry sales.agricultural biotechnology, agricultural chemicals, agricultural inputs, animal breeding, animal health, animal nutrition, aquaculture, biofuel, concentration ratio, crop breeding, crop protection, farm machinery, fertilizers, Herfindahl index, globalization, market share, market structure, research intensity, seed improvement, Productivity Analysis,

\u3cem\u3eMonilinia vaccinii-corymbosi\u3c/em\u3e sensitivity to demethylation inhibitor fungicides and its effect on Monilinia blight control in wild blueberry fields

Monilinia vaccinii-corymbosi (Reade) Honey (M.vc), the causal agent of Monilinia blight of wild blueberry, is controlled primarily by fungicide applications. Demethylation-inhibiting fungicides (DMIs) have been used for over 30 years for Monilinia blight control due to flexibility of use (i.e., ability to use after an infection period) and disease control effectiveness and consistency. In the present study, the sensitivity of ten M.vc isolates to three DMIs- propiconazole, difenoconazole and prothioconazole-desthio were evaluated in vitro by a mycelial growth inhibition assay. In addition, four field trials were conducted during two crop seasons: 2012 and 2013, to examine the efficacy of these DMIs to control Monilinia blight. All the tested DMIs were effective in inhibiting mycelial growth of M.vc isolates, although the mean EC50 values differed significantly. In field experiments, three of four trials had significant treatment effect on disease incidence and severity of vegetative buds. Prothioconazole-desthio and propiconazole provided consistent control against Monilinia blight. Conversely, difenoconazole was effective in in vitro analysis, but did not demonstrate satisfactory Monilinia blight control in all field trials. In the 2012 trials, both prothioconazole-desthio and propiconazole reduced disease incidence of vegetative buds by 100% compared to the untreated control. Prothioconazole- desthio reduced disease development in 2013 with 94 and 99.8% less incidence, and 75 and 99.5% less severity. Similarly, propiconazole also reduced incidence of vegetative buds by 88% and 99.8%, and severity by 54% and 99.7%. No phytotoxic symptoms were observed in any of the field trials. The results of the study serve as a benchmark to monitor shifts in M.vc sensitivity to these fungicides in the future

The ABC transporter gene family of Caenorhabditis elegans has implications for the evolutionary dynamics of multidrug resistance in eukaryotes

BACKGROUND: Many drugs of natural origin are hydrophobic and can pass through cell membranes. Hydrophobic molecules must be susceptible to active efflux systems if they are to be maintained at lower concentrations in cells than in their environment. Multi-drug resistance (MDR), often mediated by intrinsic membrane proteins that couple energy to drug efflux, provides this function. All eukaryotic genomes encode several gene families capable of encoding MDR functions, among which the ABC transporters are the largest. The number of candidate MDR genes means that study of the drug-resistance properties of an organism cannot be effectively carried out without taking a genomic perspective. RESULTS: We have annotated sequences for all 60 ABC transporters from the Caenorhabditis elegans genome, and performed a phylogenetic analysis of these along with the 49 human, 30 yeast, and 57 fly ABC transporters currently available in GenBank. Classification according to a unified nomenclature is presented. Comparison between genomes reveals much gene duplication and loss, and surprisingly little orthology among analogous genes. Proteins capable of conferring MDR are found in several distinct subfamilies and are likely to have arisen independently multiple times. CONCLUSIONS: ABC transporter evolution fits a pattern expected from a process termed 'dynamic-coherence'. This is an unusual result for such a highly conserved gene family as this one, present in all domains of cellular life. Mechanistically, this may result from the broad substrate specificity of some ABC proteins, which both reduces selection against gene loss, and leads to the facile sorting of functions among paralogs following gene duplication

The convection connection: how ocean feedbacks affect tropical mean moisture and MJO propagation

The response of the Madden-Julian oscillation (MJO) to ocean feedbacks is studied with coupled and uncoupled simulations of four general circulation models (GCMs). Monthly mean SST from each coupled model is prescribed to its respective uncoupled simulation, to ensure identical SST mean state and low-frequency variability between simulation pairs. Consistent with previous studies, coupling improves each model's ability to propagation MJO convection beyond the Maritime Continent. Analysis of the MJO moist static energy budget reveals that improved MJO eastward propagation in all four coupled models arises from enhanced meridional advection of column water vapor (CWV). Despite the identical mean state SST in each coupled and uncoupled simulation pair, coupling increases mean-state CWV near the Equator, sharpening equatorial moisture gradients and enhancing meridional moisture advection and MJO propagation. CWV composites during MJO and non-MJO periods demonstrate that the MJO itself does not cause enhanced moisture gradients. Instead, analysis of low-level subgrid-scale moistening conditioned by rainfall rate (R) and SST anomaly reveals that coupling enhances low-level convective moistening for R > 5 mm/day; this enhancement is most prominent near the Equator. The low-level moistening process varies among the four models, which we interpret in terms of their ocean model configurations, cumulus parameterizations, and the sensitivity of convection to column relative humidity

Artificial intelligence in healthcare delivery: Prospects and pitfalls

This review provides a comprehensive examination of the integration of Artificial Intelligence (AI) into healthcare, focusing on its transformative implications and challenges. Utilising a systematic search strategy across electronic databases such as PubMed, Scopus, Embase, and ScienceDirect, relevant peer-reviewed articles published in English between January 2010 till date were identified. Findings reveal AI's significant impact on healthcare delivery, including its role in enhancing diagnostic precision, enabling treatment personalisation, facilitating predictive analytics, automating tasks, and driving robotics. AI algorithms demonstrate high accuracy in analysing medical images for disease diagnosis and enable the creation of tailored treatment plans based on patient data analysis. Predictive analytics identify high-risk patients for proactive interventions, while AI-powered tools streamline workflows, improving efficiency and patient experience. Additionally, AI-driven robotics automate tasks and enhance care delivery, particularly in rehabilitation and surgery. However, challenges such as data quality, interpretability, bias, and regulatory frameworks must be addressed for responsible AI implementation. Recommendations emphasise the need for robust ethical and legal frameworks, human-AI collaboration, safety validation, education, and comprehensive regulation to ensure the ethical and effective integration of AI in healthcare. This review provides valuable insights into AI's transformative potential in healthcare while advocating for responsible implementation to ensure patient safety and efficacy

Artificial intelligence potential for net zero sustainability: Current evidence and prospects

oai:repository.uel.ac.uk:8xqzxThis comprehensive review explores the nexus between AI and the pursuit of net-zero emissions, highlighting the potential of AI in driving sustainable development and combating climate change. The paper examines various threads within this field, including AI applications for net zero, AI-driven solutions and innovations, challenges and ethical considerations, opportunities for collaboration and partnerships, capacity building and education, policy and regulatory support, investment and funding, as well as scalability and replicability of AI solutions. Key findings emphasize the enabling role of AI in optimizing energy systems, enhancing climate modelling and prediction, improving sustainability in various sectors such as transportation, agriculture, and waste management, and enabling effective emissions monitoring and tracking. The review also highlights challenges related to data availability, quality, privacy, energy consumption, bias, fairness, human-AI collaboration, and governance. Opportunities for collaboration, capacity building, policy support, investment, and scalability are identified as key drivers for future research and implementation. Ultimately, this review underscores the transformative potential of AI in achieving a sustainable, net-zero future and provides insights for policymakers, researchers, and practitioners engaged in climate change mitigation and adaptation

Satisfaction and Experience with a Supervised Home-Based Real-Time Videoconferencing Telerehabilitation Exercise Program in People with Chronic Obstructive Pulmonary Disease (COPD)

Telerehabilitation, consisting of supervised home-based exercise training via real-time videoconferencing, is an alternative method to deliver pulmonary rehabilitation with potential to improve access. The aims were to determine the level of satisfaction and experience of an eight-week supervised home-based telerehabilitation exercise program using real-time videoconferencing in people with COPD. Quantitative measures were the Client Satisfaction Questionnaire-8 (CSQ-8) and a purpose-designed satisfaction survey. A qualitative component was conducted using semi-structured interviews. Nineteen participants (mean (SD) age 73 (8) years, forced expiratory volume in 1 second (FEV1) 60 (23) % predicted) showed a high level of satisfaction in the CSQ-8 score and 100% of participants reported a high level of satisfaction with the quality of exercise sessions delivered using real-time videoconferencing in participant satisfaction survey. Eleven participants undertook semi-structured interviews. Key themes in four areas relating to the telerehabilitation service emerged: positive virtual interaction through technology; health benefits; and satisfaction with the convenience and use of equipment. Participants were highly satisfied with the telerehabilitation exercise program delivered via videoconferencing.

Stimulus-specific hypothalamic encoding of a persistent defensive state

Persistent neural activity in cortical, hippocampal, and motor networks has been described as mediating working memory for transiently encountered stimuli. Internal emotional states, such as fear, also persist following exposure to an inciting stimulus, but it is unclear whether slow neural dynamics are involved in this process. Neurons in the dorsomedial and central subdivisions of the ventromedial hypothalamus (VMHdm/c) that express the nuclear receptor protein NR5A1 (also known as SF1) are necessary for defensive responses to predators in mice. Optogenetic activation of these neurons, referred to here as VMHdm^(SF1) neurons, elicits defensive behaviours that outlast stimulation, which suggests the induction of a persistent internal state of fear or anxiety. Here we show that in response to naturalistic threatening stimuli, VMHdm^(SF1) neurons in mice exhibit activity that lasts for many tens of seconds. This persistent activity was correlated with, and required for, persistent defensive behaviour in an open-field assay, and depended on neurotransmitter release from VMHdm^(SF1) neurons. Stimulation and calcium imaging in acute slices showed that there is local excitatory connectivity between VMHdm^(SF1) neurons. Microendoscopic calcium imaging of VMHdm^(SF1) neurons revealed that persistent activity at the population level reflects heterogeneous dynamics among individual cells. Unexpectedly, distinct but overlapping VMHdm^(SF1) subpopulations were persistently activated by different modalities of threatening stimulus. Computational modelling suggests that neither recurrent excitation nor slow-acting neuromodulators alone can account for persistent activity that maintains stimulus identity. Our results show that stimulus-specific slow neural dynamics in the hypothalamus, on a time scale orders of magnitude longer than that of working memory in the cortex, contribute to a persistent emotional state