A review of bank performance in the Fifth district, 1983

Many observers expected 1983 to be a bad year for bank profits because of deposit deregulation, but F. Ward McCarthy Jr. shows in “A Review of Bank Performance in the Fifth District, 1983” that last year proved to be the most profitable of the last five. In this article, McCarthy examines the revenues and expenses of Fifth District banks in order to explain the significant improvement in performance. McCarthy finds the most successful banks last year were the ones that had cost structures that were relatively sensitive to the level of interest rates. He forecasts that in the current year the strength of the economy, the growth in loan demand, and increases in interest rates will increase banks’ gross return on assets. McCarthy also points out that if banks are to increase profitability in an environment of deregulation and rising interest rates, they must be able to contain interest expense and increase revenues from noninterest services.Banks and banking

A review of bank performance in the Fifth district, 1983

Many observers expected 1983 to be a bad year for bank profits because of deposit deregulation, but F. Ward McCarthy Jr. shows in “A Review of Bank Performance in the Fifth District, 1983” that last year proved to be the most profitable of the last five. In this article, McCarthy examines the revenues and expenses of Fifth District banks in order to explain the significant improvement in performance. McCarthy finds the most successful banks last year were the ones that had cost structures that were relatively sensitive to the level of interest rates. He forecasts that in the current year the strength of the economy, the growth in loan demand, and increases in interest rates will increase banks’ gross return on assets. McCarthy also points out that if banks are to increase profitability in an environment of deregulation and rising interest rates, they must be able to contain interest expense and increase revenues from noninterest services.Banks and banking

The evolution of the bank regulatory structure : a reappraisal

In his article, “The Evolution of the Bank Regulatory Structure: A Reappraisal,” F. Ward McCarthy Jr. argues that neither of these competing theories provides a sufficient explanation for the major developments in the bank regulatory framework of the United States. He proposes that the structure of bank regulation has been dictated in part by the desire of governments to enhance their abilities to generate revenue. McCarthy traces the history of government intervention in the banking industry from the colonial period through the 1930s and demonstrates that concern about public finance has been a crucial factor behind every important change in the institutional structure of bank regulation.Banks and banking

The Impact of Separate Taxation on the Intra-Household Allocation of Assets: Evidence from the UK

The income tax system in the United Kingdom moved from joint to independent taxation of husbands' and wives' income in 1990. One interesting aspect of independent taxation is the ability for households to choose the division of household assets between the two spouses. This tax reform therefore creates an opportunity for households to engage in a form of tax avoidance by shifting their investment income to the spouse with the lower marginal tax rate. We use Family Expenditure Survey data to examine the impact of this tax reform on the magnitude of investment income shifting between spouses with different marginal tax rates. We find a sizeable shift in the share and incidence of asset income claimed by wives, who typically have lower marginal tax rates, as well as in the incidence of the wife claiming all the household asset income, indicating that households responded to this policy change by reallocating asset ownership.

Remote sensing of changes in morphology and physiology of trees under stress Annual progress report

Remote sensing of morphological and physiological changes in trees under stres

Control algorithms for aerobraking in the Martian atmosphere

The Analytic Predictor Corrector (APC) and Energy Controller (EC) atmospheric guidance concepts were adapted to control an interplanetary vehicle aerobraking in the Martian atmosphere. Changes are made to the APC to improve its robustness to density variations. These changes include adaptation of a new exit phase algorithm, an adaptive transition velocity to initiate the exit phase, refinement of the reference dynamic pressure calculation and two improved density estimation techniques. The modified controller with the hybrid density estimation technique is called the Mars Hybrid Predictor Corrector (MHPC), while the modified controller with a polynomial density estimator is called the Mars Predictor Corrector (MPC). A Lyapunov Steepest Descent Controller (LSDC) is adapted to control the vehicle. The LSDC lacked robustness, so a Lyapunov tracking exit phase algorithm is developed to guide the vehicle along a reference trajectory. This algorithm, when using the hybrid density estimation technique to define the reference path, is called the Lyapunov Hybrid Tracking Controller (LHTC). With the polynomial density estimator used to define the reference trajectory, the algorithm is called the Lyapunov Tracking Controller (LTC). These four new controllers are tested using a six degree of freedom computer simulation to evaluate their robustness. The MHPC, MPC, LHTC, and LTC show dramatic improvements in robustness over the APC and EC

Finding Booth: My Journey through TopdogUnderdog

This thesis recounts my experiences during West Virginia University\u27s Fall 2017 Production of Topdog/Underdog as the role Booth. The purpose of my thesis role was to utilize the training I received during my tenure at WVU, allow myself to be emotionally vulnerable, while sustaining my artistry within a 2-hour 2-person play. Utilizing Linklater, Meisner, and Chekhovian techniques proved fruitful in expanding my range as an actor. Ultimately, the results culminated into artistic, mental, and personal growth that has and will continue to broaden my capabilities as an actor

William J. Harbison

Those close to him knew Bill Harbison for much more than the great legal scholar that he was. For almost twenty years I had the good fortune to practice law with him and was privileged to be his friend for over forty years. He was, as everyone knows, an outstanding lawyer and judge, but perhaps many do not know the non-legal side of Bill Harbison. In no particular order, Bill was a churchman, a sports enthusiast, a gardener, a historian, a fisherman, a lover of literature, and above all a devoted family man. For many years he was active at Belmont Methodist Church in Nashville, where he taught a Sunday School class. Although I do not believe he was ever a participant, he was an avid follower of major sports-in particular the fortunes of Vanderbilt\u27s football and basketball teams. He loved to fish and in many springs he would go to Kentucky Lake and fish for crappie. He kept a boat on Old Hickory Lake and enjoyed hours of fishing there with his family and friends. Before he moved to the steep hillside in the Lealand section, he was a vegetable gardener, and annually raised a beautiful vegetable garden, strawberries being one of his main crops. He served as president of the Tennessee Historical Society and was well-versed in Tennessee history, as well as world history. For years he was a member of Nashville\u27s Shakespeare Club-a group of men who met monthly to read and discuss one of the bard\u27s plays. He belonged to the Old Oak Club, another group that meets monthly to hear a paper read by one of the club\u27s members. His papers were always interesting, well-written, and well-presented. Bill Harbison spent many hours with his family, consisting of his wife, Mary Lib, his two children, Bill and Mary Alice, and his grandchildren. They frequently enjoyed family outings together. In short, Bill Harbison was, indeed, much more than an out- standing lawyer and jurist. He was interesting, modest almost to a fault, thoughtful, considerate, and entertaining. Many of his legal accomplishments are in the law books, but perhaps some of the qualities related here are those which many of us will remember longer. He was a man for all seasons, a man who truly stopped and smelled the roses. It is hard to believe he is gone; we will all miss him tremendously