The evolving role of the Federal Home Loan Banks in mortgage markets

The Federal Home Loan Banks are part of a system created by the federal government to promote home ownership. This Commentary looks at new initiatives undertaken by these government-sponsored enterprises to expand their role in financial markets-and the attendant implications for their balance sheets.Federal home loan banks ; Mortgages ; Housing - Finance

The effect of physical and cognitive challenges on walking in younger and older adults

Changes in the gait pattern and gait speed are evident in older adults and are thought to occur due to age-related declines in physical and cognitive function. However, most studies describing age-related changes in gait are conducted in level, unobstructed environments. These assessments of gait do not consider the demands encountered when walking in the community. Community ambulation may be more difficult for older adults, as physically challenging environments such as slopes or stairs may be encountered, and individuals often need to perform secondary tasks concurrently while walking. The overarching aim of this thesis was to examine the effect of physical and cognitive challenges on gait in both older and younger adults. This thesis demonstrated that physical and cognitive demands influence gait differently in older compared to younger adults. Specifically, changes in gait speed when walking on an uphill or downhill slope, which are more physically demanding than walking on a level surface, were more strongly associated with age, health status and physical activity levels. Incorporating the 10MWT on a sloped surface will enhance the clinical utility of measuring gait speed to detect changes in healthy ageing. Despite changes in gait speed when walking downhill, older adults were observed to maintain similar inter-joint coordination and variability compared to younger adults during downhill walking. This finding indicated that older adults may only adjust their inter-joint coordination when they have insufficient physical abilities to meet the physical demands of the walking environment. The findings of the dual-task studies (Chapters 5 and 6) demonstrated that both the difficulty of the walking task and attention switching impact task prioritisation in older adults, validating and expanding upon models of task prioritisation. This thesis has demonstrated that the ageing process influences older adults who walk on sloped surfaces and have to perform secondary tasks that require attention switching, which are factors common to real-world environments. These factors may be included as part of assessment and rehabilitation procedures for older adults who walk in the community

Property Assessments and Information Asymmetry in Residential Real Estate

This paper presents a game theoretic model of property tax assessment that allows a tax appraiser to either choose a high or a low assessment. The owner either accepts or challenges this assessment. A ‘‘fixed effects’’ regression model is used to evaluate the differences in the assessed values of a sample of houses from Bexar County, Texas during 2000 and 2001. Where the owner of the house is identified as a state licensed property tax consultant, the assessed value, after adjusting for size, age, and other economic characteristics, ranged from a statistically robust 2.5% to 6.2% lower than neighboring houses.

Forecasting The South African Business Cycle Using Fourier Analysis

A Fourier transform analysis is proposed to determine the duration of the South African business cycle, measured using log changes in nominal gross domestic product (GDP). The most prominent cycle (two smaller, but significant, cycles are also present in the time series) is found to be 7.1 years, confirmed using Empirical Mode Decomposition. The three dominant cycles are used to estimate a 3.5 year forecast of log monthly nominal GDP and these forecasts compared to observed (historical) data. Promising forecast potential is found with this significantly-reduced number of cycle components than embedded in the original series. Fourier analysis is effective in estimating the length of the business cycle, as well as in determining the current position (phase) of the economy in the business cycle

Bilingual, digital, audio-visual training modules improve technical knowledge of feedlot and dairy workers

Two studies were conducted to determine the effectiveness of digital multimedia modules as training tools for animal care workers. Employees at a commercial feedlot (n = 17) and a commercial dairy (n = 10) were asked to independently complete a 10-question quiz prior to and following viewing of training modules. Module topics in the feedlot were proper handling of non-ambulatory animals and humane methods of euthanasia; modules were administered to the workers, as a group, in either English (n = 7) or Spanish (N = 10), depending on previously indicated worker preference. Modules addressing dairy cattle health practices and dairy cattle handling were presented to the dairy care workers who had a preference for learning in either English (n = 7) or Spanish (n = 3). For feedlot workers, post-test scores were improved by 28% after viewing the modules compared to pre-test scores (74% vs. 58%; P 0.30) between language, topic, and between-test variation, indicating that the modules were equally effective at information delivery to both audiences in both languages. For the dairy workers, test scores improved by 27% from pre-viewing to post-viewing (73% vs. 92%; P < 0.01); there was an interaction between the effect of module and language preference (P < 0.01) indicating that although scores increased for both of the topic areas for the English-speaking workers, only the score for the animal health topic increased for the Spanish-speaking workers. Regardless of nationality, level of formal education, topic, or preferred language, digital media are effective at improving knowledge transfer to animal care professionals

Knowledge of Objective 'Oughts': Monotonicity and the New Miners Puzzle

In the classic Miners case, an agent subjectively ought to do what they know is objectively wrong. This case shows that the subjective and objective ‘oughts’ are somewhat independent. But there remains a powerful intuition that the guidance of objective ‘oughts’ is more authoritative—so long as we know what they tell us. We argue that this intuition must be given up in light of a monotonicity principle, which undercuts the rationale for saying that objective ‘oughts’ are an authoritative guide for agents and advisors

Co dimers on hexagonal carbon rings proposed as subnanometer magnetic storage bits

It is demonstrated by means of density functional and ab-initio quantum chemical calculations, that transition metal - carbon systems have the potential to enhance the presently achievable area density of magnetic recording by three orders of magnitude. As a model system, Co_2-benzene with a diameter of 0.5 nm is investigated. It shows a magnetic anisotropy in the order of 0.1 eV per molecule, large enough to store permanently one bit of information at temperatures considerably larger than 4 K. A similar performance can be expected, if cobalt dimers are deposited on graphene or on graphite. It is suggested that the subnanometer bits can be written by simultaneous application of a moderate magnetic and a strong electric field.Comment: 13 pages, 4 figure