The Maturity Structure of Bank Credit: Determinants and Effects on Economic Growth

We investigate a new data set on the maturity of bank credit to the private sector in 74 countries. We show that credit maturity is longer in countries with strong institutions, low inflation, large financial markets, and where banks share information about borrowers. Furthermore, we extend the finance and growth literature by showing that credit maturity matters for economic growth. Economic growth is enhanced in countries where agents have access to long-term financing. Therefore, weak institutions, high inflation and other variables that reduce credit maturity have an impact on economic growth via their influence on credit maturity. The estimated effects are substantial in size. Working Paper 08-1

Ground state overlap and quantum phase transitions

We present a characterization of quantum phase transitions in terms of the the overlap function between two ground states obtained for two different values of external parameters. On the examples of the Dicke and XY models, we show that the regions of criticality of a system are marked by the extremal points of the overlap and functions closely related to it. Further, we discuss the connections between this approach and the Anderson orthogonality catastrophe as well as with the dynamical study of the Loschmidt echo for critical systems.Comment: 5 pages. Version to be published, title change

Understanding student learning pathways in traditional online history courses: utilizing process mining analysis on clickstream data

Purpose This study explores ongoing research into self-mapped learning pathways that students utilize to move through a course when given two modalities to choose from: one that is instructor-led and one that is student-directed. Design/methodology/approach Process mining analysis was utilized to examine and cluster clickstream data from an online college-level History course designed with dual modality choices. This paper examines some of the results from different approaches to clustering the available data. Findings By examining how often students interacted with others, whether they were more internal or external facing with their pathway choices, and whether or not they completed a learning pathway, this study identified five general tactics from the data: Individualistic Internal; Non-completing Internal; Completing, Interactive Internal; Completing, Interactive, and Reflective and Completing External. Further analysis of when students used each tactic led to the identification of four different strategies that learners utilized during class sessions. Practical implications The results of this analysis could potentially lead to the creation of customizable design models that can assist learners as they navigate modality choices in learner-centered or less-structured learning design methodologies. Originality/value Few courses are designed to give the learners the options to follow the instructor or create their own learning pathway. Knowing how to identify what choices a learner might take in these scenarios is even less explored. Preliminary data for this paper was originally presented as a poster session at the Learning Analytics and Knowledge conference in 2019

Resolving Star Formation on Sub-Kiloparsec Scales in the High-Redshift Galaxy SDP.11 Using Gravitational Lensing

We investigate the properties of the interstellar medium, star formation, and the current-day stellar population in the strongly-lensed star-forming galaxy H-ATLAS J091043.1-000321 (SDP.11), at z = 1.7830, using new Herschel and ALMA observations of far-infrared fine-structure lines of carbon, oxygen and nitrogen. We report detections of the [O III] 52 um, [N III] 57 um, and [O I] 63 um lines from Herschel/PACS, and present high-resolution imaging of the [C II] 158 um line, and underlying continuum, using ALMA. We resolve the [C II] line emission into two spatially-offset Einstein rings, tracing the red- and blue-velocity components of the line, in the ALMA/Band-9 observations at 0.2" resolution. The values seen in the [C II]/FIR ratio map, as low as ~ 0.02% at the peak of the dust continuum, are similar to those of local ULIRGs, suggesting an intense starburst in this source. This is consistent with the high intrinsic FIR luminosity (~ 3 x 10^12 Lo), ~ 16 Myr gas depletion timescale, and < 8 Myr timescale since the last starburst episode, estimated from the hardness of the UV radiation field. By applying gravitational lensing models to the visibilities in the uv-plane, we find that the lensing magnification factor varies by a factor of two across SDP.11, affecting the observed line profiles. After correcting for the effects of differential lensing, a symmetric line profile is recovered, suggesting that the starburst present here may not be the result of a major merger, as is the case for local ULIRGs, but instead could be powered by star-formation activity spread across a 3-5 kpc rotating disk.Comment: 17 pages, 8 figures, 3 tables, accepted for publication in the Astrophysical Journa

Efekti vertikalnog i horizontalnog modela pliometrijskog treninga na razvoj eksplozivne snage

The purpose of this experimental study was to determine the effects of vertical and horizontal models of plyometric training explosive strength development in cadet volleyball cadets. Forty -four participants were randomly assigned to one of two experimental groups: vertical plyometric (Е1; n=20; BH=185.5 ± 7.02 cm; BM=71.1 ± 7.44 kg), horizontal plyometric (Е2; n=24; BH=183.8 ± 7.79 cm; BM=68.7 ± 8.69 kg). The training programs lasted 6 weeks and it consisted of two training sessions per week. All subjects were tested for each of the following jumps: squat jump (SJ), countermovement jump (CMJ), drop jump (DJ) and continous jumps (CJ). After a 6-week plyometric training some of the tested parameters of SJ increased in the vertical plyometrics group (Hmax 13.7%; Fmax 3.4%; Vmax 6.2%; IMPcon 4.1%; Pmax_con 10.2%), as well as in the horizontal plyometrics group (Hmax12.2%; Fmax 5.1%; Fmax/TT 6.0%; Vmax 5.9%; IMPcon 3.7%; Pmax_con 9.5%). Some of the tested parameters of CMJ increased in the vertical plyometrics group (Hmax 9.8%; Vmax 1.5%; IMPcon 7.2%; IMPuk 2.0%; Pmax_con 2,8%), as well as in the horizontal plyometric group (Hmax 10.1%; Vmax 3.4%; IMPcon 8.5%; IMPuk 5.0%; Pmax_con 3.9%), while lower values compared to the initial measurement were recorded in Fmax/TМ (5.2%) in the vertical plyometric group. In DJ some of the tested parameters increased in the vertical plyometric group (Hmax 15.7%; Tcon 14.9%; Vmax 9.9%; IMPcon 14.4%; Pmax_con 10.4%), as well as in the horizontal plyometrics group (Hmax 23.4%; Vmax 10.6%; Pmax_con 11.9%), while lower values compared to the initial measurement were recorded in parameter Pmax_exc (13.3%) in horizontal plyometric group. The CJ parameters showed in the vertical plyometrics group increased (Hmax 8.2%; IMPuk 6.8%; Pmax_uk 4.8%), as well as in the horizontal plyometrics group (Hmax 14.5%; Texc 6.0%; IMPexc 12.2%; IMPuk 7.5%; Pmax_exc 13.8; Pmax_uk 6.2%). The results of this thesis showed that there were no significant differences in the effects of different models of plyometric program in tested parameters, except for CMJ, in favor of horizontal plyometric group. The results suggest that both training programs were effective in the development of various parameters of jumping ability. In practice exercises from these plyometric training program should be combined due to a greater effect on certain parameters of jumps

A simple rodent subcutaneous assay for identification of new osteoinductive molecules: The key method for screening of novel bone regeneration implants

Treatment of large bone defects and degenerative diseases of the spine is among the most challeng- ing and still unresolved issues in clinical medicine. Therefore, substantial effort has been devoted to the development of novel bone regenerative therapies. Due to their potent osteoinductive properties, Bone Morphogenetic Proteins (BMPs) have been the basis for the development of novel strategies for bone regeneration. The use of animal models is an indispensable part of the preclinical testing of novel therapeutic solutions. The rat subcutaneous assay became the initial screening procedure for the evalu- ation of promising BMP-based osteoinductive devices for bone regeneration because only osteogenic BMPs can induce new bone at any ectopic rodent site. Moreover, this model is used for research on the mechanisms of ectopic bone formation as well as for the evaluation of the inflammatory response to different materials. In this review, we provided an overview of the assay development and previously conducted studies with different methods (flow cytometry, histological and microCT analyses) for the study outcome evaluation. Moreover, we addressed essential issues in the experimental design such as the follow-up period and the sample size. The rat subcutaneous bone induction assay layed the founda- tion for isolation and identification of BMPs followed by testing of new osteogenic devices in higher animal species and humans

Use of low-energy electron-beam in the treatment of special food products with a high protein content

Special high-protein foods suitable for diabetics must be treated to ensure the complete absence of microorganisms and bacteria. It is also important to achieve that this treatment does not change the nutritional value of the product. Among the new decontamination technologies, low-energy electron-beam treatment has proven to be an effective technique for inactivating bacteria with minimal impact on food quality. The paper aims to analyze the influence of low-energy electron-beam irradiation on the microbiological properties and nutritional value of high-protein foods

Detection of the 13CO(J=6-5) Transition in the Starburst Galaxy NGC 253

We report the detection of 13CO(J=6-5) emission from the nucleus of the starburst galaxy NGC 253 with the redshift (z) and Early Universe Spectrometer (ZEUS), a new submillimeter grating spectrometer. This is the first extragalactic detection of the 13CO(J=6-5) transition, which traces warm, dense molecular gas. We employ a multi-line LVG analysis and find ~ 35% - 60% of the molecular ISM is both warm (T ~ 110 K) and dense (n(H2) ~ 10^4 cm^-3). We analyze the potential heat sources, and conclude that UV and X-ray photons are unlikely to be energetically important. Instead, the molecular gas is most likely heated by an elevated density of cosmic rays or by the decay of supersonic turbulence through shocks. If the cosmic rays and turbulence are created by stellar feedback within the starburst, then our analysis suggests the starburst may be self-limiting.Comment: 4 pages, 2 figures, accepted by ApJ Letter