This paper is concerned with the valuation and analysis of risky debt instruments with arbitrary interest and principal payments subject to default risk. For the valuation, we use a risk-neutral ...present value model with expected payments for risk-neutral investors and risk-free spot rates. The required risk-neutral default probabilities are derived from historically observable risk-averse migration matrices. Based on this debt valuation, we calculate various key figures for the analysis of risky debt from the point of view of risk-averse investors (e.g., promised and expected yields, yield spreads, Z-spreads, risk premia, risk-averse default probabilities, and risk-averse expected payments). Our approach is well-suited for practical applications, since the parameters required are easily available from observable data.
The International Study of Asthma and Allergies in Childhood (ISAAC) is a standardized method that allows international and regional comparisons of asthma and allergic diseases prevalence. The ...objective of this study was to evaluate the prevalence of rhinitis and related symptoms among 6-7 year-old children (SC) and 13-14 year-old adolescents (AD) from 20 Brazilian cities applying the ISAAC's standardized written questionnaire (WQ).
ISAAC's WQ was applied to 23,422 SC and 58,144 AD living in different regions of Brazil: North (N), Northeast (NE), Middle West (MW), Southeast (SE), and South (S).
The prevalence of rhinoconjunctivitis in the last year ranged from 10.3% to 17.4% and from 8.9% to 28.5% among SC and AD, respectively. Considering SC the highest values were observed in SE region. In NE, the prevalence in countryside centres was higher than those along the coast. Among AD, the highest values were observed in N and S regions, mainly in Pará (Belém). The evaluation of populations probably with the same genetic background has shown higher prevalence among those living in urban centres (capital) in comparison to those in the countryside.
The prevalence of rhinitis and related symptoms were variable and predominate in Brazilian N and NE centres.
Abstract The human genome contains a large number of endogenous retroviruses (HERVs). Their reactivation has frequently been observed in patients with cancer. Considering their role in the ...carcinogenesis process, we aimed to study the possible relationship between HERVs gene expression and Chronic Lymphocytic Leukemia (CLL). We focused on two viral genes gag and np 9, the latter presumably an oncogene. We found that the transcriptional activity of HERV-K np 9 gene was greater in CLL patients than in healthy donors. However, gag expression was not significantly increased. These findings suggest a noteworthy relationship between CLL disease and HERV-K np 9 expression.
1. The influence of postural changes on cutaneous lymphatic capillary pressure and venous pressure was measured at the dorsum
of the foot in twelve healthy volunteers. Measurements were performed in ...the supine and sitting positions. 2. Lymphatic skin
capillaries were visualized by fluorescence microlymphography with fluorescein isothiocyanate (FITC)-Dextran 150000. Subsequently
a lymphatic capillary was punctured with a glass micropipette and pressure was measured using the servo-nulling technique.
Lymphatic capillary pressure, venous pressure, heart and respiration rates were recorded simultaneously. 3. Mean lymphatic
capillary pressure was significantly higher (P = 0.0096) in the sitting (9.9 +/- 3.0 mmHg) than in the supine (3.9 +/- 4.2
mmHg) position. There was no significant difference (P = 0.09) between lymphatic capillary pressure and venous pressure (6.8
+/- 3.4 mmHg) in the supine position. During sitting mean lymphatic capillary pressure was significantly lower (P = 0.0022)
than mean venous pressure (53.3 +/- 4.1 mmHg). The smaller increase in lymphatic capillary pressure may be caused by the discontinuous
fluid column in the lymphatic system and enhanced orthostatic contractile activity of lymphatic collectors and precollectors.
Spontaneous low frequency pressure fluctuations occurred in 89% of recordings during sitting, which was significantly (P =
0.02) higher than in the supine position (54%). 4. The present results support the suggestion of enhanced intrinsic contractile
activity of lymph precollectors and collectors in the dependent position. This mechanism is primarily responsible for the
propulsion of lymph from the periphery to the thoracic duct during quiet sitting, when extrinsic pumping by the calf muscles
is not active.
We examined the genetic basis for adenosine deaminase (ADA) deficiency in seven patients with late/delayed onset of immunodeficiency, an underdiagnosed and relatively unstudied condition. ...Deoxyadenosine-mediated metabolic abnormalities were less severe than in the usual, early-onset disorder. Six patients were compound heterozygotes; 7 of 10 mutations found were novel, including one deletion (delta 1019-1020), three missense (Arg156 > His, Arg101 > Leu, Val177 > Met), and three splicing defects (IVS 5, 5'ss T+6 > A; IVS 10, 5'ss G+1 > A; IVS 10, 3'ss G-34 > A). Four of the mutations generated stop signals at codons 131, 321, 334, and 348; transcripts of all but the last, due to delta 1019-1020, were severely reduced. delta 1019-1020 (like delta 955-959, found in one patient and apparently recurrent) is at a short deletional hot spot. Arg156 > His, the product of which had detectable activity, was found in three patients whose second alleles were unlikely to yield active ADA. The oldest patient diagnosed was homozygous for a single base change in intron 10, which activates a cryptic splice acceptor, resulting in a protein with 100 extra amino acids. We speculate that this "macro ADA," as well as the Arg156 > His, Arg101 > Leu, Ser291 > Leu, and delta 1019-1020 products, may contribute to mild phenotype. Tissue-specific variation in splicing efficiency may also ameliorate disease severity in patients with splicing mutations.
The Aeolus Data Innovation and Science Cluster Krisch, Isabell; Reitebuch, Oliver; Von Bismarck, Jonas ...
2021 IEEE International Geoscience and Remote Sensing Symposium IGARSS,
2021-July-11
Conference Proceeding
Odprti dostop
The Data Innovation and Science Cluster (DISC) is a core element of ESA's data quality strategy for the Aeolus mission, which was launched in August 2018. Aeolus provides for the first-time global ...observations of vertical profiles of horizontal wind information by using the first Doppler wind lidar in space. The Aeolus DISC is responsible for monitoring and improving the quality of the Aeolus aerosol and wind products, for the upgrade of the operational processors as well as for impact studies and support of data usage. It has been responsible for multiple significant processor upgrades which reduced the systematic error of the Aeolus observations drastically. Only due to the efforts of the Aeolus DISC team members prior to and after launch, the systematic error of the Aeolus wind products could be reduced to a global average below 1 m/s which was an important pre-requisite for making the data available to the public in May 2020 and for its use in operational weather prediction. In 2020, the reprocessing of earlier acquired Aeolus data, another important task of the Aeolus DISC, also started. In this way, also observations from June to December 2019 with significantly better quality could be made available to the public, and more data will follow this and next year. Without the thorough preparations and close collaboration between ESA and the Aeolus DISC over the past decade, many of these achievements would not have been possible.
We contribute to the literature on the valuation of risky debt by providing three nested multivariate extensions of the standard Merton model. First, we lay forth an approach to pricing risky debt ...irrespective of its interest payment structure and the specified redemption agreement. Second, we propose a technique for valuing multiple debt instruments within the same firm. Third, we provide an approach for pricing one or more debt instruments with continuous dividend payments.
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