Meet the new borrowers

Credit card lenders have been writing off loans at sharply higher rates since 1995, suggesting that riskier borrowers are acquiring credit cards. What makes the new borrowers riskier--even more than their personal characteristics and attitudes toward debt--is the fact that they carry higher debt burdens and work in occupations where income may be more cyclical.Credit cards ; Risk ; Bank loans

Foreign Bank Entry and Business Volatility: Evidence from U.S. States and Other Countries

The first-order effects of relaxed bank entry restrictions have been favorable, both within the U.S. and across countries. Internationally, the benefits of foreign entry seem to depend on the level of development, but at least for developing nations entrants are more efficient than incumbent banks and the stiffer competition seems to improve overall bank efficiency. In contrast to these first-order effects, the stability implications of increased entry are less obvious. This paper investigates whether greater integration resulting from foreign bank entry has been associated with more or less business cycle volatility. We approach the topic with mix of theory and evidence from both the U.S. states and countries. While theoretical effects are mixed, the empirical effect of relaxation of restrictions of cross-state banking has been to stabilize state-level fluctuations in the U.S. Applying a related set of tests to a panel of about 100 countries, however, we find no evidence that expansion of foreign banking has reduced business fluctuations. If anything, the evidence points tentatively in the other direction.

Simultaneous polymerization and molding of Pyrrone polymers

Simultaneous polymerization and hot pressing of Pyrrone polymer

Market scenarios and alternative administrative frameworks for US educational satellite systems

Costs and benefits of developing an operational educational satellite system in the U.S. are analyzed. Scenarios are developed for each educational submarket and satellite channel and ground terminal requirements for a large-scale educational telecommunications system are estimated. Alternative organizational frameworks for such a system are described

Large-scale educational telecommunications systems for the US: An analysis of educational needs and technological opportunities

The needs to be served, the subsectors in which the system might be used, the technology employed, and the prospects for future utilization of an educational telecommunications delivery system are described and analyzed. Educational subsectors are analyzed with emphasis on the current status and trends within each subsector. Issues which affect future development, and prospects for future use of media, technology, and large-scale electronic delivery within each subsector are included. Information on technology utilization is presented. Educational telecommunications services are identified and grouped into categories: public television and radio, instructional television, computer aided instruction, computer resource sharing, and information resource sharing. Technology based services, their current utilization, and factors which affect future development are stressed. The role of communications satellites in providing these services is discussed. Efforts to analyze and estimate future utilization of large-scale educational telecommunications are summarized. Factors which affect future utilization are identified. Conclusions are presented

A wider audience: Turning VLBI into a survey instrument

Radio observations using the Very Long Baseline Interferometry (VLBI) technique typically have fields of view of only a few arcseconds, due to the computational problems inherent in imaging larger fields. Furthermore, sensitivity limitations restrict observations to very compact and bright objects, which are few and far between on the sky. Thus, while most branches of observational astronomy can carry out sensitive, wide-field surveys, VLBI observations are limited to targeted observations of carefully selected objects. However, recent advances in technology have made it possible to carry out the computations required to target hundreds of sources simultaneously. Furthermore, sensitivity upgrades have dramatically increased the number of objects accessible to VLBI observations. The combination of these two developments have enhanced the survey capabilities of VLBI observations such that it is now possible to observe (almost) any point in the sky with milli-arcsecond resolution. In this talk I review the development of wide-field VLBI, which has made significant progress over the last three years.Comment: Invited review at the General Assembly of the Astronomische Gesellschaf

Computer-aided communication satellite system analysis and optimization

The capabilities and limitations of the various published computer programs for fixed/broadcast communication satellite system synthesis and optimization are discussed. A satellite Telecommunication analysis and Modeling Program (STAMP) for costing and sensitivity analysis work in application of communication satellites to educational development is given. The modifications made to STAMP include: extension of the six beam capability to eight; addition of generation of multiple beams from a single reflector system with an array of feeds; an improved system costing to reflect the time value of money, growth in earth terminal population with time, and to account for various measures of system reliability; inclusion of a model for scintillation at microwave frequencies in the communication link loss model; and, an updated technological environment

Intravital Multiphoton Microscopy with Fluorescent Bile Salts in Rats as an In Vivo Biomarker for Hepatobiliary Transport Inhibition

The bile salt export pump (BSEP) is expressed at the canalicular domain of hepatocytes, where it mediates the elimination of monovalent bile salts into the bile. Inhibition of BSEP is considered a susceptibility factor for drug-induced liver injury that often goes undetected during nonclinical testing. Although in vitro assays exist for screening BSEP inhibition, a reliable and specific method for confirming Bsep inhibition in vivo would be a valuable follow up to a BSEP screening strategy, helping to put a translatable context around in vitro inhibition data, incorporating processes such as metabolism, protein binding, and other exposure properties that are lacking in most in vitro BSEP models. Here, we describe studies in which methods of quantitative intravital microscopy were used to identify dose-dependent effects of two known BSEP/Bsep inhibitors, 2-[4-[4-(butylcarbamoyl)-2-[(2,4-dichlorophenyl)sulfonylamino]phenoxy]-3-methoxyphenyl]acetic acid (AMG-009) and bosentan, on hepatocellular transport of the fluorescent bile salts cholylglycyl amidofluorescein and cholyl-lysyl-fluorescein in rats. Results of these studies demonstrate that the intravital microscopy approach is capable of detecting Bsep inhibition at drug doses well below those found to increase serum bile acid levels, and also indicate that basolateral efflux transporters play a significant role in preventing cytosolic accumulation of bile acids under conditions of Bsep inhibition in rats. Studies of this kind can both improve our understanding of exposures needed to inhibit Bsep in vivo and provide unique insights into drug effects in ways that can improve our ability interpret animal studies for the prediction of human drug hepatotoxicity

The Apollo Virtual Microscope Collection: Lunar Mineralogy and Petrology of Apollo 11, 12, 14, 15 and 16 Rocks

We report on the new Virtual Microscopes on Apollo 16 lunar samples in our Apollo Virtual Microscope collection