From Stimulus to System: Using the ARRA to Serve Disadvantaged Jobseekers

This paper explores models and mechanisms for connecting low-skilled jobseekers to ARRA-related job opportunities--including community-benefit agreements, job linkage/first source hiring, and goals and standards for job creation and job quality--and for subsequently engaging jobseekers in further skill-building and educational programs

Quantum robustness and phase transitions of the 3D Toric Code in a field

We study the robustness of 3D intrinsic topogical order under external perturbations by investigating the paradigmatic microscopic model, the 3D toric code in an external magnetic field. Exact dualities as well as variational calculations reveal a ground-state phase diagram with first and second-order quantum phase transitions. The variational approach can be applied without further approximations only for certain field directions. In the general field case, an approximative scheme based on an expansion of the variational energy in orders of the variational parameters is developed. For the breakdown of the 3D intrinsic topological order, it is found that the (im-)mobility of the quasiparticle excitations is crucial in contrast to their fractional statistics

Underwriting Sustainable Homeownership: The Federal Housing Administration and the Law down Payment Loan

В статье вначале кратко рассматривается влияние модернизации на потребность организаций в кадрах, а затем более подробно факторы, которые оказывают негативное влияние на обеспеченность организаций в кадрах. При этом автором выделяются внутренние факторы, которые проявляются на уровне организации и могут быть управляемыми, а также один ключевой внешний фактор, который носит макроэкономический характер

Underwriting Sustainable Homeownership: The Federal Housing Administration and the Low Down Payment Loan

The United States Federal Housing Administration (FHA) has been a versatile tool of government since it was created during the Great Depression. The FHA was created in large part to inject liquidity into a moribund mortgage market. It succeeded wonderfully, with rapid growth during the late 1930s. The federal government repositioned it a number of times over the following decades to achieve a variety of additional social goals. These goals included supporting civilian mobilization during World War II; helping veterans returning from that war; stabilizing urban housing markets during the 1960s; and expanding minority homeownership rates during the 1990s. It achieved success with some of its goals and had a terrible record with others. More recently, the FHA has fallen into its worst financial shape ever. The FHA suffered from many of the same unrealistic underwriting assumptions that have done in so many other lenders during the 2000s. It has also been harmed, like other lenders, by a housing market as bad as any seen since the Great Depression. As a result, the federal government recently announced the first bailout of the FHA in its history. At the same time that it has faced these financial challenges, the FHA has also come under attack for the poor execution of some of its policies to expand homeownership. Leading commentators have called for the federal government to stop using the FHA to do anything other than provide liquidity to the low end of the mortgage market. These critics rely on a couple of examples of programs that were clearly failures but they do not address the FHA\u27s long history of undertaking comparable initiatives. This Article takes the long view and demonstrates that the FHA has a history of successfully undertaking new homeownership programs. At the same time, the Article identifies flaws in the FHA model that should be addressed in order to prevent them from occurring if the FHA were to undertake similar initiatives in the future. In order to demonstrate this, the Article first sets forth the dominant critique of the FHA. Relying on often overlooked primary sources, it then sets forth a history of the FHA and charts its constantly changing roles in the housing finance sector. In order to give a more detailed picture of the federal government\u27s role in housing finance, the Article also incorporates the scholarly literature regarding (i) the intersection of race and housing policy and (ii) the economics of finance literature regarding the role that down payments play in the appropriate underwriting of mortgages for low- and moderate-income households. The Article concludes that the FHA can reasonably address objectives other than the provision of liquidity to the residential mortgage market. It further proposes that FHA homeownership programs for low- and moderate-income families should be required to balance access to credit with households\u27 ability to make their mortgage payments over the long term. Such a proposal will ensure that the FHA extends credit responsibly to low- and moderate-income households while minimizing the likelihood of future bailouts