Heterogeneous Yield Curves and Basis Swaps

We present a framework of heterogeneous yield curves of agents based on the pricing kernel approach in order to model LIBOR and basis swap rates. Each yield curve may imply different prices of assets but is consistent with swap rates, basis swap rates and foreign exchange rates. We show three conditions that gurantee the no-arbitrage and the consistency with these rate processes. The introduction of contributors and the Market Representative Agent (gMRAh) leads to an explanation of a non-zero basis swap rate as a swap rate priced by one of the MRAs.Interest rate swap, Basis swap, Pricing kernel, Risk premium, LIBOR

Experimental Study on the Correlation between the Tubar Stenosis and the Professional Deafness

It has long been a clinically and experimentally well recognized fact that the hearing organs of man and animal would be impaired by the excessive sound stimuli. It has also been pointed out that the hearing organ of each man is not always impaired in the same degree by the same noise, and their impairments show the individual variation in a considerable range. It is indeed not too difficult to imagine, that, under the same acoustic condition, such individual variation of the acoustic impairment owes to the inherent disposition of each man. But at the same time, this individual variation may more or less owe to the patency of the ear tube; the normal tube having a physiological function to control the unnecessary acoustic stimuli, and on the contrary, the stenosed tube being devoid of this function, induces more impairment of the hearing organ. This latter suggestion, which occured to the author, led him to attempt the following experiment.</p

Discovery of a Strongly Lensed Galaxy at z=3.9 behind a z=0.83 Galaxy Cluster

We report the discovery and spectroscopic confirmation of three gravitationally-lensed images of a galaxy at z=3.9 in the background of a distant, rich cluster of galaxies at z=0.83, on the basis of observations with Faint Object Camera And Spectrograph (FOCAS) on the Subaru telescope. We construct a simple lens model of the cluster mass distribution based on Jee et al.'s weak lensing mass estimates from deep, high-resolution images by Advanced Camera for Surveys (ACS) on the Hubble Space Telescope. The lens model can account simultaneously for the observed image configuration and the flux ratio of the closer pair located close to the critical curve. The parities of the three images are also consistent with the lensing hypothesis. Since this galaxy is apparently bright (i'_{AB} \sim 23.7) for its redshift due to the magnification, it serves as a good high redshift target on which we can make extensive and detailed studies based on multi-wavelength imaging and spectroscopy.Comment: 4 pages, 3 figures, 1 table, accepted for publication in PAS

Do You Know Documentary Handling on the Business

本稿は、 平成二八年度広島大学公文書管理研修 （基礎編） における講義の記録です。本研修は、 公文書等の管理に関する法律第三二条及び広島大学法人文書管理規則第二六条の規程に基づき、適切な法人文書の管理体制の強化を図るために開催するもので、平成二八年七月二六日に広島大学中央図書館ライブラリーホールを会場に四六名の職員の方に受講いただきました