The Stock of External Sovereign Debt: Can We Take the Data At ‘Face Value’?

The stock of sovereign debt is typically measured at face value. This is a misleading indicator when debts are issued with different contractual forms. In this paper we construct a new measure of the stock of external sovereign debt for 100 developing countries from 1979 to 2006 that is invariant to contractual form, and illustrate five problems with debt stocks measured at face value. First, we show that correcting for differences in the contractual form of debt paints a very different quantitative, and in some cases also qualitative, picture of the stock of developing country external sovereign debt. Second, rankings of indebtedness across countries, which were historically used to define eligibility for debt forgiveness, are sometimes inverted once we correct for differences in contractual form. Third, the empirical performance of the benchmark quantitative model of sovereign debt deteriorates by between 40 to 70 percent once model-consistent measures of debt are used. Fourth, we show how the spread of aggregation clauses in debt contracts which award creditors voting power in proportion to the contractual face value may introduce inefficiencies into the process of restructuring sovereign debts. Fifth, we show how the use of contractual face values gives issuing countries the ability to manipulate their debt stock data, and illustrate the use of these techniques in practice.

Final Project Report: Hydraulic Model Study Twelve Towns Retention Basin Model Study

https://deepblue.lib.umich.edu/bitstream/2027.42/154181/1/39015101404955.pd

Distinguishing low frequency mutations from RT-PCR and sequence errors in viral deep sequencing data

There is a high prevalence of coronary artery disease (CAD) in patients with left bundle branch block (LBBB); however there are many other causes for this electrocardiographic abnormality. Non-invasive assessment of these patients remains difficult, and all commonly used modalities exhibit several drawbacks. This often leads to these patients undergoing invasive coronary angiography which may not have been necessary. In this review, we examine the uses and limitations of commonly performed non-invasive tests for diagnosis of CAD in patients with LBBB

Final Project Report: Hydraulic Model Study Raw Wastewater Pumping Station No. 2A Wastewater Treatment Plant Detroit, Michigan

https://deepblue.lib.umich.edu/bitstream/2027.42/154206/1/39015101405390.pd

Hydraulic Model Study: Wyandotte Wastewater Treatment Plant Influent Pump Station Wet Well

https://deepblue.lib.umich.edu/bitstream/2027.42/154185/1/39015101405044.pd

A map series of the Southern East Pacific Rise and its flanks, 15� S to 19� S

Four large-scale bathymetric maps of the Southern East Pacific Rise and its flanks between 15 S and 19 S display many of the unique features of this superfast spreading environment, including abundant seamounts (the Rano Rahi Field), axial discontinuities, discontinuity migration, and abyssal hill variation. Along with a summary of the regional geology, these maps will provide a valuable reference for other sea-going programs on- and off-axis in this area, include the Mantle ELectromagnetic and Tomography (MELT) experiment

Pyloric Stenosis Leading to Sinus Venous Thrombosis; A Case Report

Pyloric stenosis is typically diagnosed early and repaired after resuscitation and electrolyte correction in a timely manner. Delay in diagnosis or presentation of patient can lead to significant morbidity and even mortality. Here we present a case of pyloric stenosis leading to dehydration severe enough to lead to venous sinus thrombosis. This case highlights the importance of early detection of pyloric stenosis with timely correction of fluid status and electrolytes. Venous sinus thrombosis is a serious complication associated with our patient’s pyloric stenosis that has not yet been reported in literature