Amalgam Anosov representations

Let $\Gamma$ be a one-ended, torsion-free hyperbolic group and let $G$ be a semisimple Lie group with finite center. Using the canonical JSJ splitting due to Sela, we define amalgam Anosov representations of $\Gamma$ into $G$ and prove that they form a domain of discontinuity for the action of $\mathrm{Out}(\Gamma)$. In the appendix, we prove, using projective Anosov Schottky groups, that if the restriction of the representation to every Fuchsian or rigid vertex group of the JSJ splitting of $\Gamma$ is Anosov, with respect to a fixed pair of opposite parabolic subgroups, then $\rho$ is amalgam Anosov.Comment: With an appendix by the authors and Andres Sambarino. Final versio

Commercial Bank Underwriting of Credit-Enhanced Bonds: Are there Benefits to the Issuer?

Recent studies have expanded the commercial bank certification hypothesis to include banks acting in an underwriting capacity. This paper further develops that research by focusing on the industrial revenue bond market in which banks have the unique opportunity to simultaneously act as both credit guarantor and underwriter. When explicitly allowing for bank-issued standby letters of credit (guarantees), we find significantly greater yield spreads for those bonds underwritten by commercial banks compared to bonds underwritten by investment banks. Overall, no net benefit appears to accrue to the bond issuer when attempting to achieve joint (or double) certification benefits by employing commercial banks as both credit guarantor and underwriters except in the special case where the same bank acts as both guarantor and underwriter. This latter result is consistent with an "economy of scope" in monitoring and reusing information

Commercial Bank Underwriting of Credit-Enhanced Bonds: Are there Certification Benefits to the Issuer?

Recent studies have expanded the commercial bank certification hypothesis to include banks acting in an underwriting capacity. This paper further develops that research by focusing on the industrial revenue bond market in which banks have the unique opportunity to simultaneously act as both credit guarantor and underwriter. When explicitly allowing for bank-issued standby letters of credit (guarantees), we find significantly greater yield spreads for those bonds underwritten by commercial banks compared to bonds underwritten by investment banks. Overall, no net benefit appears to accrue to the bond issuer when attempting to achieve joint (or double) certification benefits by employing commercial banks as both credit guarantor and underwriters except in the special case where the same bank acts as both guarantor and underwriter. This limited certification effect is further validated when the credit quality of participating banks is accounted for. This result is consistent with an "economy of scope" in monitoring and reusing information

Commercial Bank Underwriting of Credit-Enhanced Bonds: Are there Certification Benefits to the Issuer?

Recent studies have expanded the commercial bank certification hypothesis to include banks acting in an underwriting capacity. This paper further develops that research by focusing on the industrial revenue bond market in which banks have the unique opportunity to simultaneously act as both credit guarantor and underwriter. When explicitly allowing for bankissued standby letters of credit (guarantees), we find significantly greater yield spreads for those bonds underwritten by commercial banks compared to bonds underwritten by investment banks. Overall, no net benefit appears to accrue to the bond issuer when attempting to achieve joint (or double) certification benefits by employing commercial banks as both credit guarantor and underwriters except in the special case where the same bank acts as both guarantor and underwriter. This limited certification effect is further validated when the credit quality of participating banks is accounted for. This result is consistent with an "economy of scope" in monitoring and reusing information

Collisions at infinity in hyperbolic manifolds

For a complete, finite volume real hyperbolic n-manifold M, we investigate the map between homology of the cusps of M and the homology of $M$. Our main result provides a proof of a result required in a recent paper of Frigerio, Lafont, and Sisto

Agricultural scene understanding and supporting field research, volume 1

There are no author-identified significant results in this report

Superconducting and structural properties of plasma sprayed YBaCuO layers deposited on metallic substrates

The properties of plasma sprayed Y-Ba-Cu-O coatings deposited on metallic substrates are studied. Stainless steel, nickel steels and pure nickel are used as substrate. Y-Ba-Cu-O deposited on stainless steel and nickel steel reacts with the substrate. This interaction can be suppressed by using an yttria-stabilized zirconia (YsZ) diffusion barrier. However, after heat treatment the Y-Ba-Cu-O layers on YsZ show cracks perpendicular to the surface. As a result the critical current density is very low. The best results are obtained for Y-Ba-Cu-O deposited on pure nickel; here no cracks perpendicular to the surface are observed. The critical current increases with the anneal temperature but annealing for longer than 10 h does not seem to improve the superconducting properties any further