A Tale of Three Cities: Crime and Displacement after Hurricane Katrina

When Hurricane Katrina struck New Orleans in August 2005, it greatly disrupted both the physical and social structures of that community. One consequence of the hurricane was the displacement of large numbers of New Orleans residents to other cities, including Houston, San Antonio, and Phoenix. There has been media speculation that such a grand-scale population displacement led to increased crime in communities that were recipient of large numbers of displaced New Orleans residents. This study was a case study of three cities with somewhat different experiences with Katrina\u27s diaspora. Time series analysis was used to examine the pre- and post-Katrina trends in six Part I offenses (murder, robbery, aggravated assault, rape, burglary, and auto theft) to assess any impact of such large-scale population shifts on crime in host communities. Contrary to much popular speculation, only modest effects were found on crime. Social disorganization theory was used to frame both the analysis and the interpretation of these result

Evidence on the determinants and economic consequences of delegated monitoring

We investigate delegated monitoring by examining the determinants and effects of including cross-acceleration provisions in public debt contracts. We find that cross-acceleration provision use depends on borrowers' going concern relative to liquidation values, debt repayment structures, credit quality, and financial reporting quality. This suggests that the use of cross-acceleration provisions increases when the costs of cascading defaults are lower, the conflicts between creditor classes are higher, and the benefits of delegating monitoring to banks are higher. We also find a lower interest rate on public debt contracts with cross-acceleration provisions, but the rate reduction depends on borrowers' financial reporting quality

Direct Evidence on the Informational Properties of Earnings in Loan Contracts

Using a sample of firms that disclose the realizations of earnings used for determining covenant compliance in loan contracts, we provide the first direct evidence on the informational properties of earnings used in the performance covenants included in debt contracts. We find that the earnings measure used in performance covenants does not exhibit asymmetric loss timeliness and has significantly greater cash flow predictive ability than GAAP measures of earnings. We suggest that these results reflect the idea that contracting parties design accounting rules for performance covenants to enhance their efficacy as “tripwires”

The international framework for school health promotion: Supporting young people through and after the COVID-19 pandemic

BACKGROUND: The worldwide COVID-19 government restrictions imposed on young people to limit virus spread have precipitated a growing and long-term educational and health crisis. CONTRIBUTIONS TO THE THEORY: This novel study used Sen\u27s Capabilities Approach as a theoretical framework to examine the current health and educational impacts of COVID-19 on youth, referencing emerging literature. The objective was to inform the design of an internationally relevant framework for school health promotion to support young people through and after the COVID-19 pandemic. Mapping of existing health resources, internal/external conversion factors and capabilities were used to identify classroom, school and system level strategies that will enable young people to flourish. Four central enablers were identified and used in the design of the International Framework for School Health Promotion (IFSHP). IMPLICATIONS FOR SCHOOL HEALTH POLICY, PRACTICE AND EQUITY: The IFSHP can be used by educational institutions, school leaders and teachers to innovate existing health promotion programs, policies and practices to support young people through and after the COVID-19 pandemic. CONCLUSIONS: School systems, schools and teachers are encouraged to utilize the IFSHP to review and innovate existing school health programs to ensure they meet the increased physical and mental health needs of young people

Anti-CD20 therapy depletes activated myelin-specific CD8+ T cells in multiple sclerosis.

CD8+ T cells are believed to play an important role in multiple sclerosis (MS), yet their role in MS pathogenesis remains poorly defined. Although myelin proteins are considered potential autoantigenic targets, prior studies of myelin-reactive CD8+ T cells in MS have relied on in vitro stimulation, thereby limiting accurate measurement of their ex vivo precursor frequencies and phenotypes. Peptide:MHC I tetramers were used to identify and validate 5 myelin CD8+ T cell epitopes, including 2 newly described determinants in humans. The validated tetramers were used to measure the ex vivo precursor frequencies and phenotypes of myelin-specific CD8+ T cells in the peripheral blood of untreated MS patients and HLA allele-matched healthy controls. In parallel, CD8+ T cell responses against immunodominant influenza epitopes were also measured. There were no differences in ex vivo frequencies of tetramer-positive myelin-specific CD8+ T cells between MS patients and control subjects. An increased proportion of myelin-specific CD8+ T cells in MS patients exhibited a memory phenotype and expressed CD20 compared to control subjects, while there were no phenotypic differences observed among influenza-specific CD8+ T cells. Longitudinal assessments were also measured in a subset of MS patients subsequently treated with anti-CD20 monoclonal antibody therapy. The proportion of memory and CD20+ CD8+ T cells specific for certain myelin but not influenza epitopes was significantly reduced following anti-CD20 treatment. This study, representing a characterization of unmanipulated myelin-reactive CD8+ T cells in MS, indicates these cells may be attractive targets in MS therapy

Delayed Recombination and Cosmic Parameters

Current cosmological constraints from Cosmic Microwave Background (CMB) anisotropies are typically derived assuming a standard recombination scheme, however additional resonance and ionizing radiation sources can delay recombination, altering the cosmic ionization history and the cosmological inferences drawn from CMB data. We show that for recent observations of CMB anisotropy, from the Wilkinson Microwave Anisotropy Probe satellite mission 5-year survey (WMAP5) and from the ACBAR experiment, additional resonance radiation is nearly degenerate with variations in the spectral index, n_s, and has a marked effect on uncertainties in constraints on the Hubble constant, age of the universe, curvature and the upper bound on the neutrino mass. When a modified recombination scheme is considered, the redshift of recombination is constrained to z_*=1078\pm11, with uncertainties in the measurement weaker by one order of magnitude than those obtained under the assumption of standard recombination while constraints on the shift parameter are shifted by 1-sigma to R=1.734\pm0.028. Although delayed recombination limits the precision of parameter estimation from the WMAP satellite, we demonstrate that this should not be the case for future, smaller angular scales measurements, such as those by the Planck satellite mission.Comment: 9 pages, 9 figure