What have we learned about mortgage default?

By the end of 2009, one out of every 11 mortgages was seriously delinquent or in foreclosure. Economists have devoted considerable energy over the past several years to understanding the underlying causes of this increase in defaults. One goal is to provide a guide to dealing with the existing problems. In addition, a better understanding may help avoid future problems. In “What Have We Learned About Mortgage Default?” Ronel Elul reviews recent research that has shed light on two areas: the extent to which securitization is responsible for the increase in default rates; and the relative contributions of negative equity, compared with “liquidity shocks,” in explaining mortgage default.Mortgage loans ; Default (Finance)

Experimental research to Optimize Process Parameters in Machining of Non Conducting Material with hybrid non conconventional machining

Among all non conventional micro machining, electrochemical discharge machining ECDM is having high quality of material removal rate with zero residual stress. This machining has been accepted as a highly modern technology in micromachining. In this paper an effort has been done on micro drilling of glass using electrochemical discharge machining ECDM . A fixed tool and a step down transformer have been used to support the steady machining to increase the accuracy of work piece. The input parameters used in this experiment are voltage, concentration of electrolyte, enter electrode gap and ratio of area of electrode. MRR has been investigated over the input parameters. Feed rate and electrolyte temperature has been made constant of 3µm sec and 30°c respectively. Taguchi method is used to optimize the effect of the process parameters on MRR. The signal to noise S N ratio and the ANOVA analysis are employed to find the contributions of input parameters. Vikrant Sharma | Sunil Kumar "Experimental research to Optimize Process Parameters in Machining of Non Conducting Material with hybrid non conconventional machining" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-1 | Issue-4 , June 201

Hydrodynamic model for picosecond propagation of laser-created nanoplasmas

The interaction of a free-electron-laser pulse with a moderate or large size cluster is known to create a quasi-neutral nanoplasma, which then expands on hydrodynamic timescale, i.e., $>1$ ps. To have a better understanding of ion and electron data from experiments derived from laser-irradiated clusters, one needs to simulate cluster dynamics on such long timescales for which the molecular dynamics approach becomes inefficient. We therefore propose a two-step Molecular Dynamics-Hydrodynamic scheme. In the first step we use molecular dynamics code to follow the dynamics of an irradiated cluster until all the photo-excitation and corresponding relaxation processes are finished and a nanoplasma, consisting of ground-state ions and thermalized electrons, is formed. In the second step we perform long-timescale propagation of this nanoplasma with a computationally efficient hydrodynamic approach. In the present paper we examine the feasibility of a hydrodynamic two-fluid approach to follow the expansion of spherically symmetric nanoplasma, without accounting for the impact ionization and three-body recombination processes at this stage. We compare our results with the corresponding molecular dynamics simulations. We show that all relevant information about the nanoplasma propagation can be extracted from hydrodynamic simulations at a significantly lower computational cost when compared to a molecular dynamics approach. Finally, we comment on the accuracy and limitations of our present model and discuss possible future developments of the two-step strategy.Comment: 14 pages, 6 figure