The Legal Environment and the Choice of Default Resolution Alternatives: An Empirical Analysis

In addition to standard foreclosure, three other methods of resolution for mortgage defaults are available: bankruptcy protection, surrender of deed to the lender, and pre-foreclosure sale. This paper develops a model that specifies the choice of resolution method as a function of the state-specific legal environment and local area economic conditions. A large national data set is used to estimate a multinomial logit choice model for the 1987 to 1991 period. The results indicate that the choice of default resolution alternative is sensitive to the legal environment. The results imply that selected legal reforms will tend to improve the efficiency of the default resolution process.

The origin of channels and associated deposits in the Elysium region of Mars

Photogeological studies of the Elysium volcanic province of Mars show that its sinuous channels are part of a large deposit which probably was emplaced as a series of huge volcanic debris flows or lahars. The suggestion is based on evidence that the lahars were : (1) gravity-driven mass flow deposits (lobate outlines, steep snouts, smooth medial channels and rough lateral deposits--the deposits narrow and widen in accord with topography, and they extend downslope); (2) wet (channeled surfaces, drainage features); and (3) associated with volcanism (the deposits and channels extend from a system of fractures which fed lava flows). It is conceivable that heat associated with magmatism melted ground ice below the Elysium volcanoes, formed a muddy slurry which issued out of regional fractures and spread over the adjoining plain

Current-induced Pinwheel Oscillations in Perpendicular Magnetic Anisotropy Spin Valve Nanopillars

Nanopillar spin valve devices are typically comprised of two ferromagnetic layers: a reference layer and a free layer whose magnetic orientation can be changed by both an external magnetic field and through the introduction of spin-polarized electric current. Here we report the continuous repeated switching behavior of both the reference and free layers of a perpendicular spin valve made of Co/Pd and Co/Ni multilayers that arises for sufficiently large DC currents. This periodic switching of the two layers produces an oscillating signal in the MHz regime but is only observed for one sign of the applied current. The observed behavior agrees well with micromagnetic simulations

POTENTIAL IMPACTS OF GM WHEAT ON UNITED STATES AND NORTHERN PLAINS WHEAT TRADE

The potential introduction of genetically modified (GM) wheat has both supporters and opponents waging battle in the popular press and scholarly research. Supporters highlight the benefits to producers, while the opponents highlight the unknown safety factors for consumers. The topic is very important to the United States, as a large portion of the wheat production is exported overseas. Consumer groups in some countries are resisting GM wheat. This study utilizes a spatial equilibrium model to evaluate the trade impacts associated with GM wheat introduction along with several assumed post-GM adoption scenarios. Wheat is converted into protein equivalents to allow for substitution between wheat classes. The importance of the U.S. handling/transportation system is highlighted in the ability of the system to develop an affordable and effective segregation system for GM wheat. Producers who do not produce GM wheat would face externalities associated with GM wheat contamination of non-GM wheat.genetically modified wheat, spatial equilibrium model, trade flows, protein equivalents, externalities, Crop Production/Industries, International Relations/Trade,

Hydrodynamic propulsion of human sperm

The detailed fluid mechanics of sperm propulsion are fundamental to our understanding of reproduction. In this paper, we aim to model a human sperm swimming in a microscope slide chamber. We model the sperm itself by a distribution of regularized stokeslets over an ellipsoidal sperm head and along an infinitesimally thin flagellum. The slide chamber walls are modelled as parallel plates, also discretized by a distribution of regularized stokeslets. The sperm flagellar motion, used in our model, is obtained by digital microscopy of human sperm swimming in slide chambers. We compare the results of our simulation with previous numerical studies of flagellar propulsion, and compare our computations of sperm kinematics with those of the actual sperm measured by digital microscopy. We find that there is an excellent quantitative match of transverse and angular velocities between our simulations and experimental measurements of sperm. We also find a good qualitative match of longitudinal velocities and computed tracks with those measured in our experiment. Our computations of average sperm power consumption fall within the range obtained by other authors. We use the hydrodynamic model, and a prototype flagellar motion derived from experiment, as a predictive tool, and investigate how sperm kinematics are affected by changes to head morphology, as human sperm have large variability in head size and shape. Results are shown which indicate the increase in predicted straight-line velocity of the sperm as the head width is reduced and the increase in lateral movement as the head length is reduced. Predicted power consumption, however, shows a minimum close to the normal head aspect ratio

The Information Content of the 1999 Announcement of Funds from Operations (FFO) Changes for Real Estate Investment Trusts

This study examines the market response to the 1999 announcement of a change in accounting for Funds from Operations (FFO) for Real Estate Investment Trusts (REITs). This change provides an increase in transparency in the accounting statements of REITs regarding the calculation of FFO. An analysis of this announcement finds that shareholder wealth increases but the significance of that increase is questionable. Additionally, an analysis of the adverse selection component of the bid-ask spread finds weak evidence to support the conjecture that the amount of information asymmetry in REIT prices declines after the announcement of the FFO accounting change.

CHANG-ES V: Nuclear Radio Outflow in a Virgo Cluster Spiral after a Tidal Disruption Event

We have observed the Virgo Cluster spiral galaxy, NGC~4845, at 1.6 and 6 GHz using the Karl G. Jansky Very Large Array, as part of the `Continuum Halos in Nearby Galaxies -- an EVLA Survey' (CHANG-ES). The source consists of a bright unresolved core with a surrounding weak central disk (1.8 kpc diameter). The core is variable over the 6 month time scale of the CHANG-ES data and has increased by a factor of $\approx$ 6 since 1995. The wide bandwidths of CHANG-ES have allowed us to determine the spectral evolution of this core which peaks {\it between} 1.6 and 6 GHz (it is a GigaHertz-peaked spectrum source).We show that the spectral turnover is dominated by synchrotron self-absorption and that the spectral evolution can be explained by adiabatic expansion (outflow), likely in the form of a jet or cone. The CHANG-ES observations serendipitously overlap in time with the hard X-ray light curve obtained by Nikolajuk \& Walter (2013) which they interpret as due to a tidal disruption event (TDE) of a super-Jupiter mass object around a $10^5\, M_\odot$ black hole. We outline a standard jet model, provide an explanation for the observed circular polarization, and quantitatively suggest a link between the peak radio and peak X-ray emission via inverse Compton upscattering of the photons emitted by the relativistic electrons. We predict that it should be possible to resolve a young radio jet via VLBI as a result of this nearby TDE.Comment: 45 pages, 10 figures, accepted July 2, 2015 to the Astrophysical Journa

Evidence against correlations between nuclear decay rates and Earth-Sun distance

We have reexamined our previously published data to search for evidence of correlations between the rates for the alpha, beta-minus, beta-plus, and electron-capture decays of 22Na, 44Ti, 108Agm, 121Snm, 133Ba, and 241Am and the Earth-Sun distance. We find no evidence for such correlations and set limits on the possible amplitudes of such correlations substantially smaller than those observed in previous experiments

Estimated likelihood of observing a large earthquake on a continental low‐angle normal fault and implications for low‐angle normal fault activity

Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/106807/1/grl51557.pd