Asset prices, collateral and unconventional monetary policy in a DSGE model

In this paper we set up a New-Keynesian model that features an interbank market. The introduction of an interbank market is important to analyze liquidity problems among heterogenous agents within the financial sector. First, because this allows for a situation where increased liquidity supply by the central bank is only partially passed on to the interbank market. Second, this framework allows us to analyze one additional policy measure besides the common interest rate policy undertaken by central banks to alleviate the liquidity shortage on the interbank market. Namely haircuts on eligible assets in repurchase agreements (“Repos”). By varying haircuts applied to securities that serve as collateral in repurchase agreements the stress on the interbank market can be mitigated by bringing down the interest rate charged among banks. Furthermore an exogenous bubble process is modeled which enables us to examine the effects of a deviation of the market price of capital from its fundamental price. This leads to a discussion whether central banks should ”lean against the wind”, i.e. react to deviations of asset prices in the setting of their policy instrument. Finally, this paper tries to shed some light on the “exit strategy” that a central bank should follow after the asset price bubble bursted and the interbank market begins to work properly again. JEL Classification: E4, E5, E61, G21collateral, DSGE, exit strategy, haircuts, monetary policy

Subversive sponsorship : organized literacy education and the long civil rights movement.

This dissertation presents literacy sponsorship as a narrative framework that complicates the history of black struggles surrounding educational equity as a civil rights issue. While that history has traditionally been framed as a fight for black access to and participation in white-sponsored institutions, this dissertation demonstrates that a number of prominent black intellectuals and activists instead argued for black sponsorship of black literacy and pursued such sponsorship as a political strategy to advance the goals of the civil rights movement. As such, this project contributes to the body of alternative historiography in rhetoric and composition that examines sites of literacy instruction located in the “extracurriculum” of composition, including the Council of Federated Organization’s Mississippi Freedom Schools of 1964 and the Southern Christian Leadership Conference’s Summer Community Organization and Political Education Project of 1964

Determining the relationship between C-reactive protein, visceral fat, and the metabolic syndrome risk factors

The metabolic syndrome (MetS) is a diagnosis that includes several clinical criteria that indicate a higher than normal risk of developing cardiovascular disease. Central adiposity is considered a risk factor for the MetS and is also associated with increased mortality and morbidity. The use of ultrasonography (US) has made it possible to measure the amount of visceral fat (VF) in a cost-effective and non-invasive manner as opposed to computed tomography or magnetic resonance imaging. C-reactive protein (CRP), an acute phase inflammatory marker, has been associated with increased risk for cardiovascular disease and has been shown to have a relationship with VF levels. The purpose of the study was to determine the relationship between VF, CRP, and the MetS. Visceral fat, CRP, MetS risk factors were evaluated in 34 participants who were over the age of 40. An ultrasound scan at the waist was conducted to determine VF levels by placing the wand 1 cm to the right of the umbilicus and performing a 10 cm scan towards the right hip. Waist circumference was measured at the superior portion of the iliac crest. C RP, blood glucose, HDL cholesterol, and triglycerides (TG) were measured using a blood analyzer. Pearson\u27s Correlations were conducted to determine the relationships between VF, CRP, and MetS risk factors. All variables were tested with an alpha level of p \u3c̲ .05. There were significant positive correlations between CRP and VF (r = .34, p = .05) and CRP and TG (r =.50, p \u3c .002). The results indicate the use of US as a cost- effective, non-invasive method of evaluating potential risk for increased inflammation as well as the development of the MetS and may be a viable alternative to traditional methods of measuring VF --Document

Monitoring Drought in the Midwest

Climate monitoring is one component of the mission of the Regional Climate Centers, and the Midwestern Regional Climate Center (MRCC) has created web pages to provide near real-time monitoring of the weather and climate of the Midwest. A dedicated drought monitoring page was developed by the MRCC to provide a snapshot of current moisture conditions in the region using a number of specialized maps and products. Users are able to drill down to state and local conditions and impacts through links to the respective state climate offices and water resources agencies

An examination of the relationship between teacher performance evaluation system ratings and student achievement

This study was guided by the question: Is there a statistically significant relationship between the teacher evaluation tool (using the summative ratings of teacher evaluations from the 2015–2016 and 2016–2017 school years for teachers of Grades K-5 using the Danielson Framework for Teaching model, 2007) and student achievement (as measured using the Northwest Evaluation System (NWEA) Measures of Academic Progress (MAP) in that same period of time) in a selected Michigan school district? Quantitative methods and a Spearman correlation were utilized to determine if there was a positive, negative, or no relationship between the independent variable, teacher evaluation ratings, and the dependent variable, NWEA MAP scores. The evaluation data of 69 teachers of Grades K-5 in the six elementary schools in the school district were drawn from the summative evaluation rubrics using the Danielson Framework for Teaching. Student data were NWEA MAP scores in reading, mathematics, and English language arts for the 2015–2016 and 2016–2017 school years. Student data were tied only to the instructor and no other variable. Ten administrators conducted teacher observations and valuated teachers using the Danielson Framework. Spearman correlations for the 12 NWEA RIT scores with the four teacher effectiveness ratings—highly effective, effective, minimally effective, and ineffective—compared all effectiveness ratings with student achievement for the 2015–2016 and 2016–2017 school years. Correlations were also conducted comparing just highly effectiveness ratings with student achievement for the 2015–2016 and 2016–2017 school years. None of the 48 correlations were significant at the p \u3c .05 level; thus, in this Michigan school district, no relationship was found between the teacher evaluation tool and student achievement