Collections policy comparison in LGD modelling

This paper discusses the similarities and the differences in the collection process between in house and 3rd Party collection. The objective is to show that although the same type of modelling approach to estimating Loss Given Default (LGD) can be used in both cases the details will be significantly different. In particular the form of the LGD distribution suggests one needs to split the distribution in different easy in the two cases as well as using different variables. The comparisons are made use two data sets of the collections outcomes from two sets of unsecured consumer defaulters<br/

Anti-tumor necrosis factor-alpha therapy during murine Klebsiella pneumoniae bacteremia: increased mortality in the absence of liver injury.

Klebsiella pneumoniae is a leading cause of gram-negative bacterial pneumonia, often resulting in bacteremia concurrent with the localized pulmonary infection. The beneficial role of tumor necrosis factor (TNF)-alpha during pulmonary infection has been well documented; however, consequences of TNF-alpha production during systemic bacterial infection are controversial. A murine model of K. pneumoniae was developed to address this important issue. Liver-associated TNF-alpha mRNA was induced within 30 min after intravenous bacterial inoculation and remained elevated through 6 h before returning to near-baseline at 24 h postinfection. Intravenous K. pneumoniae infection induced liver cellular injury that was completely ablated when mice were pretreated with a neutralizing anti-TNF-alpha antibody. Interestingly, this reduction in liver injury failed to translate into improved survival. Mice receiving anti-TNF-alpha continued to succumb to the infection even out to day 10 postinfection. Bacterial clearance after TNF-alpha neutralization was significantly impaired at later time points during infection. Correlating with impaired bacterial clearance was diminished production of liver-associated MIP-2, MIP-1alpha, MCP-1, and interferon-gamma. Further evidence of diminished antibacterial immune responses was noted when the activational status of splenic natural killer cells in anti-TNF-alpha-treated mice was examined 24 h postinfection. Natural killer cells displayed decreased CD69 expression. Combined, these data indicate that the beneficial effects of TNF-alpha during systemic K. pneumoniae infection outweigh the detrimental effects of TNF-alpha-mediated hepatocyte cellular injury. Anti-TNF-alpha therapy, although preventing liver injury during blood-borne bacterial infection, results in a dampened anti-bacterial host response, resulting in decreased bacterial clearance and overall survival

Interferometric studies of a piano soundboard

Electronic speckle pattern interferometry has been used to study the deflection shapes of a piano soundboard. A design for an interferometer that can image such an unstable object is introduced, and interferograms of a piano soundboard obtained using this interferometer are presented. Deflection shapes are analyzed and compared to a finite element model, and it is shown that the force the strings exert on the soundboard is important in determining the mode shapes and resonant frequencies. Measurements of resonance frequencies and driving point impedance made using the interferometer are also presented

Recognising Desire: A psychosocial approach to understanding education policy implementation and effect

It is argued that in order to understand the ways in which teachers experience their work - including the idiosyncratic ways in which they respond to and implement mandated education policy - it is necessary to take account both of sociological and of psychological issues. The paper draws on original research with practising and beginning teachers, and on theories of social and psychic induction, to illustrate the potential benefits of this bipartisan approach for both teachers and researchers. Recognising the significance of (but somewhat arbitrary distinction between) structure and agency in teachers’ practical and ideological positionings, it is suggested that teachers’ responses to local and central policy changes are governed by a mix of pragmatism, social determinism and often hidden desires. It is the often underacknowledged strength of desire that may tip teachers into accepting and implementing policies with which they are not ideologically comfortable

Potential Risks Associated With The Legalization Of Exotic Predators Such As The Ferret (\u3ci\u3eMustela Putorius Furo\u3c/i\u3e) In California

The interest in possessing ferrets as pets has given rise to controversy between the rights of the individual to own the pet of their choice and the concerns for protection of wildlife in California. An overview of the legislative history in California illustrates the state\u27s attempts at protecting native wildlife species from exotic wild birds and animals. Concerns as to the potential threats associated with the legalization of ferrets in California are warranted in light of the wildlife damage resulting from the deliberate introduction of ferrets in New Zealand and the non-native red fox in California. A framework to assess risks involved with introducing non-native species that may impact native wildlife is needed

Experimental investigation of an American five-string banjo

An experimental investigation of an American five-string banjo is reported. The acoustic spectra of the strings are analyzed and it is found that in many ways banjo strings behave in a manner similar to those on a piano. The terminating impedance presented to the strings at the bridge is reported and it is found to be generally much lower than the characteristic impedance of the strings. It is also shown that, for a properly tuned banjo, the mode shapes of the membrane are symmetric about the center even though there is a large asymmetric force due to the off-center placement of the bridge. Finally, high-speed electronic speckle pattern interferometry was used to study the motion of the membranic head after a string is plucked, and it is found that the motion is dominated by a rocking motion of the bridge

The Angular Resolution of Space-Based Gravitational Wave Detectors

Proposed space-based gravitational wave antennas involve satellites arrayed either in an equilateral triangle around the earth in the ecliptic plane (the ecliptic-plane option) or in an equilateral triangle orbiting the sun in such a way that the plane of the triangle is tilted at 60 degrees relative to the ecliptic (the precessing-plane option). In this paper, we explore the angular resolution of these two classes of detectors for two kinds of sources (essentially monochromatic compact binaries and coalescing massive-black-hole binaries) using time-domain expressions for the gravitational waveform that are accurate to 4/2 PN order. Our results display an interesting effect not previously reported in the literature, and underline the importance of including the higher-order PN terms in the waveform when predicting the angular resolution of ecliptic-plane detector arrays.Comment: 13 pages, 6 figures, submitted to Phys Rev D. The current version corrects an error in our original paper and adds some clarifying language. The error also required correction of the graphs now shown in Figures 3 through

Induced pluripotent stem cell-based therapy for age-related macular degeneration

Introduction: In age-related macular degeneration (AMD), stem cells could possibly replace or regenerate disrupted pathologic retinal pigment epithelium (RPE), and produce supportive growth factors and cytokines such as brain-derived neurotrophic factor. Induced pluripotent stem cells (iPSCs)-derived RPE was first subretinally transplanted in a neovascular AMD patient in 2014. Areas covered: Induced PSCs are derived from the introduction of transcription factors to adult cells under specific cell culture conditions, followed by differentiation into RPE cells. Induced PSC-derived RPE cells exhibit ion transport, membrane potential, polarized VEGF secretion and gene expression that is similar to native RPE. Despite having similar in vitro function, morphology, immunostaining and microscopic analysis, it remains to be seen if iPSC-derived RPE can replicate the myriad of in vivo functions, including immunomodulatory effects, of native RPE cells. Historically, adjuvant RPE transplantation during CNV resections were technically difficult and complicated by immune rejection. Autologous iPSCs are hypothesized to reduce the risk of immune rejection, but their production is time-consuming and expensive. Alternatively, allogenic transplantation using human leukocyte antigen (HLA)-matched iPSCs, similar to HLA-matched organ transplantation, is currently being investigated. Expert opinion: Challenges to successful transplantation with iPSCs include surgical technique, a pathologic subretinal microenvironment, possible immune rejection, and complications of immunosuppression