Who defaults on their home mortgage?

Since February 2010, detailed information on every home mortgage default and foreclosure in New York State must be filed with the New York State Banking Department (NYSBD). Pairing the NYSBD's data with data on originations from the Home Mortgage Disclosure Act (HMDA) enables us to identify the race and ethnicity of borrowers who defaulted on their home mortgages (in New York State). Like many previous studies, we find strong racial and ethnic disparities in lending practices, but we do not find conclusive evidence that HMDA-measurable forms of discrimination increased a borrower's probability of default. After controlling for other factors, we find that the interest rates charged to black and Latino borrowers tended to be higher than the ones charged to their white and non-Latino counterparts. This may be one reason why blacks and Latinos tend to default at a higher rate, but other factors, such as the tendency of black and Latino borrowers to take out larger loans than their white and non-Latino counterparts, may also have contributed to the higher default rate among black and Latino borrowers.mortgage; default; foreclosure; discrimination

The minimum wage and restaurant prices

Using both store-level and aggregated price data from the food away from home component of the Consumer Price Index survey, we show that restaurant prices rise in response to an increase in the minimum wage. These results hold up when using several different sources of variation in the data. We interpret these findings within a model of employment determination. The model implies that minimum wage hikes cause employment to fall and prices to rise if labor markets are competitive but potentially cause employment to rise and prices to fall if labor markets are monopsonistic. Therefore, our empirical results appear to provide evidence against the hypothesis that monopsony power is important for understanding the small observed employment responses to minimum wage changes.Labor market ; Wages ; Wages - Restaurants

3D Printing of multi-functional structures

3D printing has generally been relegated to fabricating conceptual models and prototypes; however, increasingly, research is now focusing on fabricating functional end-use products. As patents for 3D printing expire, new low-cost desktop systems are being adopted more widely and this trend is leading to products being fabricated locally. However, currently the technology is limited in the number of materials used in fabrication and consequently is confined to fabricating simple static structures. For additively manufactured products to be economically meaningful, additional functionalities are required to be incorporated in terms of electronic, electromechanical, electromagnetic, thermodynamic, chemical and optical content. By interrupting the 3D printing and employing complementary manufacturing processes, additional functional content can be included in mass-customized structures. This presentation will review work in multi-process 3D printing for creating structures with consumer-specific wearable electronics, electromechanical actuation, electromagnetics, propulsion and embedded sensors in soft tooling and even in metal and ceramic structures. Please click Additional Files below to see the full abstract

Additive manufacturing of elastomer, ceramic and metal multi-functional structures

Please click Additional Files below to see the full abstract

Quantum Dots in Strong Magnetic Fields: Stability Criteria for the Maximum Density Droplet

In this article we discuss the ground state of a parabolically confined quantum dots in the limit of very strong magnetic fields where the electron system is completely spin-polarized and all electrons are in the lowest Landau level. Without electron-electron interactions the ground state is a single Slater determinant corresponding to a droplet centered on the minimum of the confinement potential and occupying the minimum area allowed by the Pauli exclusion principle. Electron-electron interactions favor droplets of larger area. We derive exact criteria for the stability of the maximum density droplet against edge excitations and against the introduction of holes in the interior of the droplet. The possibility of obtaining exact results in the strong magnetic field is related to important simplifications associated with broken time-reversal symmetry in a strong magnetic field.Comment: 17 pages, 5 figures (not included), RevTeX 3.0. (UCF-CM-93-002

Exploring the Boundaries of Historic Landscape Preservation

During the past thirty years, the sensitive management of historic landscapes has emerged as a prominent concern among those who appreciate how preserving a rich and vital past is integral to successful community and environmental stewardship. Accompanied by a critical introduction and concluding essay, the papers in this volume convey the diversity of contemporary historic landscape preservation projects located in North America, England, Germany, India, and Australia. Exploring the Boundaries of Historic Landscape Preservation offers an excellent summation of the current state of discussion and practice in this exciting field and casts light on some of the active frontiers of its future growth.https://tigerprints.clemson.edu/cudp_environment/1003/thumbnail.jp