Autonomous and Financial Mortgage Prepayment

Using individual data from Freddie Mac's portfolio of conventional mortgages, this paper estimates prepayment probabilities as a function of characteristics pertaining to the borrower, the loan, regional, and economic variables. Distinction is made between induced and autonomous prepayments. Based on the curvature of the underlying termination pattern, nonparametric methods are derived to estimate the prepayment probabilities and to predict a mortgage life under various scenarios. The findings point to a response asymmetry with respect to the level and trend of interest rates. Non-interest effects reveal the significance of the borrower's characteristics, property age, and regional mobility rates on mortgage termination.

Effect of an oxide cap layer and fluorine implantation on the metal-induced lateral crystallization of amorphous silicon

In this work, we investigate the effect of oxide cap layer on the metal-induced lateral crystallization (MILC) of amorphous silicon. The MILC is characterized at temperatures in the range 550 to 428°C using Nomarski optical microscopy and Raman spectroscopy. It is shown that better lateral crystallization is obtained when the oxide cap layer is omitted, with the crystallization length increasing by 33% for a 15 hour anneal at 550°C. A smaller increase of about 10% is seen at lower temperatures between 525°C and 475°C and no increase is seen below 450°C. It is also shown that the detrimental effect of the oxide cap layer can be dramatically reduced by giving samples a fluorine implant prior to the MILC anneal. Raman spectroscopy shows that random grain growth is significantly less for unimplanted samples without an oxide cap and also for fluorine implanted samples both with and without an oxide cap. The crystallization length improvement for samples without an oxide cap layer is explained by the elimination of random grain crystallization at the interface between the amorphous silicon and the oxide cap layer

A CANDELS WFC3 Grism Study of Emission-Line Galaxies at z ~ 2: A Mix of Nuclear Activity and Low-Metallicity Star Formation

We present Hubble Space Telescope Wide Field Camera 3 (WFC3) slitless grism spectroscopy of 28 emission-line galaxies at z ~ 2, in the GOODS-S region of the Cosmic Assembly Near-infrared Deep Extragalactic Legacy Survey. The high sensitivity of these grism observations, with >1σ detections of emission lines to f > 2.5 × 10^(–18) erg s^(–1) cm^(–2), means that the galaxies in the sample are typically ~7 times less massive (median M_* = 10^(9.5) M_☉) than previously studied z ~ 2 emission-line galaxies. Despite their lower mass, the galaxies have [O III]/Hβ ratios which are very similar to previously studied z ~ 2 galaxies and much higher than the typical emission-line ratios of local galaxies. The WFC3 grism allows for unique studies of spatial gradients in emission lines, and we stack the two-dimensional spectra of the galaxies for this purpose. In the stacked data the [O III] emission line is more spatially concentrated than the Hβ emission line with 98.1% confidence. We additionally stack the X-ray data (all sources are individually undetected), and find that the average L_([O III])/L_(0.5-10keV) ratio is intermediate between typical z ~ 0 obscured active galaxies and star-forming galaxies. Together the compactness of the stacked [O III] spatial profile and the stacked X-ray data suggest that at least some of these low-mass, low-metallicity galaxies harbor weak active galactic nuclei

On the Integration of Emerging Stock Markets in the Middle East

Results from the Johansen-Juselius test suggest that the Middle East emerging stock markets are segmented globally, but appear highly integrated within the region. Moreover, the Gonzalo- Granger test, in conjunction with error-correction models, indicates that the market in Egypt is a dominant force driving other markets in the region. The apparent segmentation of the markets in the Middle East from the global market implies that these emerging markets provide international investors with potential diversification gains.

Pembentukan Karakter Peserta Didik Melalui Pendidikan Berbasis Al-quran

: the shaping of balanced, healthy and strong human character (character building) is highly influenced by religious education and the internalization of the religious values within the learners. The laying down of the religious education foundations is the obligation of the parents as well as the task of the teachers, the community, and the government through various educational institutions. This paper discusses the importance of the Al-Quran education, Al-Quran-based education, and the learners' character building through education. Education is an endless process which determines the nation's character today and in the future. Whether a nation will emerge as a nation of good or bad character highly depends on the quality of education that shapes the character of the children of the nation. Building the noble character through the Al-Quran education approach, other than being part of the process of building the noble character, is expected to become the cornerstone in improving the learners' status and prestigeas children of the nation

Mengembangkan Pendidikan Berwawasan Keummatan

This paper discusses the possibilities that Islamic Education needs life system as stated in the Holy Koran. This life system must consist of moral as the central theme. The method used in this study was discourse analysis. The term “ummah” which is social study is known as “kemasyarakatan (social life)” was analyzed through Islamic education so that it results in education conception with social conception. It consists of the issue that every educator needs at least three requirements that must be fulfilled in order to prepare learners to be able to achieve the position as the best people (khairu ummah): amar makruf, nahi munkar, and commitment to be loyal to Allah‟s rules. The objective of the education expected to get the guidance, victory (falah), and save from the torments. The method used was through providing evidences/ arguments, stories, wisdom, mau‟izhah, mujadilah, syufa and ishlah. The educator is the role model in the field and action. Learners are the best people as individual and group