The Impact of Foreclosures on Neighboring Housing Sales

Housing foreclosures likely have little neighborhood impacts if there are few foreclosures in a neighborhood and the foreclosed housing can resell quickly. However, when there are both many foreclosures and a sluggish housing market, foreclosures can lead to neighborhood destabilization, which should cause house prices to further fall. This paper measures the impact of foreclosures on housing sales using a unique dataset from St. Louis County, Missouri. Results show an expected decline the sales price of neighboring sales but the marginal impact of foreclosures seems to decline with an increase in the number of foreclosures. These results are robust to a variety of neighborhood control variables and spatial econometric techniques.

Physiological responses of women to simulated weightlessness: A review of the first female bed-rest study

Subjects were exposed to centrifugation, to lower body negative pressure (LBNP), and to exericse stress both before and after bed rest. Areas studied were centrifugation tolerance, fluid electrolyte changes and hematology, tolerance to LBNP, physical working capacity, biochemistries, blood fibrinolytic activity, female metabolic and hormonal responses, circadian alterations, and gynecology. Results were compared with the responses observed in similarly bed-rested male subjects. The bed-rested females showed deconditioning responses similar to those of the males, although with some differences. Results indicate that women are capable of coping with exposure to weightlessness and, moreover, that they may be more sensitive subjects for evaluating countermeasures to weightlessness and developing criteria for assessing applicants for shuttle voyages

Preliminary assessment of cognitive impairments in canine idiopathic epilepsy

In humans, epilepsy can induce or accelerate cognitive impairment (CI). There is emerging evidence of CI in dogs with idiopathic epilepsy (IE) from recent epidemiological studies. The aim of our study was to assess CI in dogs with IE using two tests of cognitive dysfunction designed for use in a clinical setting. Dogs with IE (n=17) were compared against controls (n=18) in their performance in two tasks; a spatial working memory task and a problem-solving task. In addition, owners completed the Canine Cognitive Dysfunction Rating (CCDR) scale for their dog. The groups did not differ statistically with respect to age and breed. Dogs with IE performed significantly worse than controls on the spatial working memory task (P=0.016), but not on the problem solving task (P=0.683). CCDR scores were significantly higher in the IE group (P=0.016); however, no dogs reach the recommended threshold score for CCD diagnosis. Our preliminary data suggest that dogs with IE exhibit impairments in a spatial working memory task. Further research is required to explore the effect of IE on other cognitive abilities in dogs with a larger sample, characterising the age of onset, nature and progression of any impairments and the impact of anti-epileptic drugs

Population Aging, Savings Behavior and Capital Markets

Population aging is just beginning to hit the industrialized countries in full force, and it will have a tremendous impact on capital markets. In this paper, we argue that the capital market effects of population aging are particularly strong in continental European economies such as Germany, France, and Italy, with their large and ailing pay-as-you-go public pension systems, relatively thin capital markets, and poor capital performance. The younger generations in these countries are quite aware of the need to provide for more retirement income through own private saving, and these effects will be accentuated by fundamental pension reforms that aim at more pre-funding. Population aging changes households' savings behavior and portfolio composition, and much more assets will be invested on the stock market. Capital markets will grow in size, and active institutional investors such as pension funds will become more important in continental European countries. These changes are likely to have beneficial side effects in terms of improved capital efficiency, total factor productivity, and growth. Looking at the effects of population aging on savings behavior and capital markets therefore adds a new dimension to the continuing debate about advantages and disadvantages of pay-as-you-go and fully funded pension systems.

Nonlinear behavior of shells of revolution under cyclic loading

A large deflection elastic-plastic analysis is presented, applicable to orthotropic axisymmetric plates and shells of revolution subjected to monotonic and cyclic loading conditions. The analysis is based on the finite-element method. It employs a new higher order, fully compatible, doubly curved orthotropic shell-of-revolution element using cubic Hermitian expansions for both meridional and normal displacements. Both perfectly plastic and strain hardening behavior are considered. Strain hardening is incorporated through use of the Prager-Ziegler kinematic hardening theory, which predicts an ideal Bauschinger effect. Numerous sample problems involving monotonic and cyclic loading conditions are analyzed. The monotonic results are compared with other theoretical solutions

Correlations of the IR Luminosity and Eddington Ratio with a Hard X-ray Selected Sample of AGN

We use the SWIFT Burst Alert Telescope (BAT) sample of hard x-ray selected active galactic nuclei (AGN) with a median redshift of 0.03 and the 2MASS J and K band photometry to examine the correlation of hard x-ray emission to Eddington ratio as well as the relationship of the J and K band nuclear luminosity to the hard x-ray luminosity. The BAT sample is almost unbiased by the effects of obscuration and thus offers the first large unbiased sample for the examination of correlations between different wavelength bands. We find that the near-IR nuclear J and K band luminosity is related to the BAT (14 - 195 keV) luminosity over a factor of $10^3$ in luminosity ($L_{IR} \approx L_{BAT}^{1.25}$)and thus is unlikely to be due to dust. We also find that the Eddington ratio is proportional to the x-ray luminosity. This new result should be a strong constraint on models of the formation of the broad band continuum.Comment: accepted to ApJ