Disturbing Extremal Behavior of Spot Rate Dynamics

This paper presents a study of extreme interest rate movements in the U.S. Federal Funds market over almost a half century of daily observations from the mid 1950s through the end of 2000. We analyze the fluctuations of the maximal and minimal changes in short term interest rates and test the significance of time-varying paths followed by the mean and volatility of extremes. We formally determine the relevance of introducing trend and serial correlation in the mean, and of incorporating the level and GARCH effects in the volatility of extreme changes in the federal funds rate. The empirical findings indicate the existence of volatility clustering in the standard deviation of extremes, and a significantly positive relationship between the level and the volatility of extremes. The results point to the presence of an autoregressive process in the means of both local maxima and local minima values. The paper proposes a conditional extreme value approach to calculating value at risk by specifying the location and scale parameters of the generalized Pareto distribution as a function of past information. Based on the estimated VaR thresholds, the statistical theory of extremes is found to provide more accurate estimates of the rate of occurrence and the size of extreme observations.extreme value theory, volatility, interest rates, value at risk

Two-parameter nonstandard deformation of 2x2 matrices

We introduce a two-parameter deformation of 2x2 matrices without imposing any condition on the matrices and give the universal R-matrix of the nonstandard quantum group which satisfies the quantum Yang-Baxter relation. Although in the standard two-parameter deformation the quantum determinant is not central, in the nonstandard case it is central. We note that the quantum group thus obtained is related to the quantum supergroup $GL_{p,q}(1|1)$ by a transformation.Comment: 10 page

Differential Geometry of the q-plane

Hopf algebra structure on the differential algebra of the extended $q$-plane is defined. An algebra of forms which is obtained from the generators of the extended $q$-plane is introduced and its Hopf algebra structure is given.Comment: 9 page

Center conditions for a lopsided quartic polynomial vector field

AbstractWe consider in this article11We wish to express our thanks to Pr. J.P. Françoise for his advice during the period of this work. a lopsided quartic polynomial vector field X=−x∂∂y+y∂∂x+∑i+j=4(bijxiyj∂∂y). We first compute the first non-zero derivative of the return map r↦L(r,ε). We study then the necessary and sufficient conditions for the existence of a center

Synthesis of ω-Oxo Amino Acids and trans-5-Substituted Proline Derivatives using Cross-methathesis of Unsaturated Amino Acids

A range of 7-oxo, 8-oxo and 9-oxo amino acids, analogues of 8-oxo-2-aminodecanoic acid, one of the key components of the cyclic tetrapeptide apicidin, has been prepared by a three-step process involving copper-catalysed allylation of serine-, aspartic acid- and glutamic acid-derived organozinc reagents, followed by cross-metathesis of the resulting terminal alkenes with unsaturated ketones, and hydrogenation. The intermediate 7-oxo-5- enones underwent a highly diastereoselective (dr ≥96:4) acid-catalyzed aza-Michael reaction to give trans-2,5-disubstituted pyrrolidines, 5-substituted proline derivatives. The azaMichael reaction was first observed when the starting enones were allowed to stand in solution in deuterochloroform, but can be efficiently promoted by catalytic amounts of dry HC

Facilitators of and barriers to successful teamwork during resuscitations in a neonatal intensive care unit

OBJECTIVE: Effective teamwork is essential in high-risk healthcare delivery environments. In this study, we aimed to identify facilitators of and barriers to successful teamwork during resuscitations in the NICU Study Design: 36 in-situ interprofessional simulation sessions were held in a level 4 NICU. Each session was followed by a debriefing where staff talked about the simulation scenario but also about their prior experiences during resuscitations in the NICU. Using content analysis, we analyzed the transcriptions of debriefings to address the study aims. RESULT: Participant responses yielded three major themes: communicating well, getting tasks done well, and working well together. Each main theme had subthemes. CONCLUSION: Teamwork is a complex process that is enhanced and hindered by a variety of factors. The factors identified in this study can be used to enhance relationship-based teamwork training programs. Future research is needed to determine which teamwork behaviors are most associated with patient outcomes

Cloud Point Extraction Methodology for Separation and Extraction Platinum (II) as Chloro Complex Anion Coupled with Spectrophotometric Method for Determination in Different Samples

Whereas the platinum is very important metal with several special properties to provide it as expensive metal with important using , for separation preconcentration and extraction platinum as Chloroanion PtCl4= according to cloud point extraction method used Triton X-100 at optimum conditions such as 1M HCl with 1x10-4M Janus green (JG) and 0.5 mL of 1%  Triton X-100 Cloud point layer Formation at 75?C of heating in electrostatic water bath for 15 minutes , The stoichiometric study show the more probable structure of ion association Complex extraction was [JG+ ; HPtCl4-] , with thermodynamic data ?Hex = 0.0814KJ mol-1 , ?Gex =-61.42 KJ mol-1 and ?Sex = 176.7J mol-1 K-1, the main method for extraction show D.L = 6.8028*10-6 S=0.003133 µg cm-1 R.S.D= 0.00885                               the maximum absorbance wave length was = 690 nm  and ?= 6227.861 L mol-1 cm-1 Keywords: platinum, cloud point extractio

High-Q-factor Al [subscript 2]O[subscript 3] micro-trench cavities integrated with silicon nitride waveguides on silicon

We report on the design and performance of high-Q integrated optical micro-trench cavities on silicon. The microcavities are co-integrated with silicon nitride bus waveguides and fabricated using wafer-scale silicon-photonics-compatible processing steps. The amorphous aluminum oxide resonator material is deposited via sputtering in a single straightforward post-processing step. We examine the theoretical and experimental optical properties of the aluminum oxide micro-trench cavities for different bend radii, film thicknesses and near-infrared wavelengths and demonstrate experimental Q factors of > 10[superscript 6]. We propose that this high-Q micro-trench cavity design can be applied to incorporate a wide variety of novel microcavity materials, including rare-earth-doped films for microlasers, into wafer-scale silicon photonics platforms