This paper is concerned with systemic risk in an interbank market, modelled as a directed graph of interbank obligations. This builds on the modelling paradigm of Eisenberg and Noe Eisenberg L, Noe ...TH (2001) Systemic risk in financial systems.
Management Sci.
47(2):236-249 by introducing costs of default if loans have to be called in by a failing bank. This immediately introduces novel and realistic effects. We find that, in general, many different clearing vectors can arise, among which there is a greatest clearing vector, arrived at by letting banks fail in succession until only solvent banks remain. Such a collapse should be prevented if at all possible. We then study situations in which consortia of banks may have the means and incentives to rescue failing banks. This again departs from the conclusions of the earlier work of Eisenberg and Noe, where in the absence of default losses there would be no incentive for solvent banks to rescue failing banks. We conclude with some remarks about how a rescue consortium might be constructed.
This paper was accepted by Wei Xiong, finance.
We perform a comprehensive new Monte Carlo analysis of high-energy lepton-lepton, lepton-hadron and hadron-hadron scattering data to simultaneously determine parton distribution functions (PDFs) in ...the proton and parton to hadron fragmentation functions (FFs). The analysis includes all available semi-inclusive deep-inelastic scattering and single-inclusive e+e− annihilation data for pions, kaons and unidentified charged hadrons, which allows the flavor dependence of the fragmentation functions to be constrained. Employing a new multistep fitting strategy and more flexible parametrizations for both PDFs and FFs, we assess the impact of different datasets on sea quark densities and confirm the previously observed suppression of the strange quark distribution. The new fit, which we refer to as "JAM20-SIDIS," will allow for improved studies of universality of parton correlation functions, including transverse momentum dependent (TMD) distributions, across a wide variety of process, and the matching of collinear to TMD factorization descriptions.
Development of brown-like/beige adipocytes in white adipose tissue (WAT) helps to reduce obesity. Thus we investigated the effects of resveratrol, a dietary polyphenol capable of preventing obesity ...and related complications in humans and animal models, on brown-like adipocyte formation in inguinal WAT (iWAT).
CD1 female mice (5-month old) were fed a high-fat diet with/without 0.1% resveratrol. In addition, primary stromal vascular cells separated from iWAT were subjected to resveratrol treatment. Markers of brown-like (beige) adipogenesis were measured and the involvement of AMP-activated protein kinase (AMPK) α1 was assessed using conditional knockout.
Resveratrol significantly increased mRNA and/or protein expression of brown adipocyte markers, including uncoupling protein 1 (UCP1), PR domain-containing 16, cell death-inducing DFFA-like effector A, elongation of very long-chain fatty acids protein 3, peroxisome proliferator-activated receptor-γ coactivator 1α, cytochrome c and pyruvate dehydrogenase, in differentiated iWAT stromal vascular cells (SVCs), suggesting that resveratrol induced brown-like adipocyte formation in vitro. Concomitantly, resveratrol markedly enhanced AMPKα1 phosphorylation and differentiated SVC oxygen consumption. Such changes were absent in cells lacking AMPKα1, showing that AMPKα1 is a critical mediator of resveratrol action. Resveratrol also induced beige adipogenesis in vivo along with the appearance of multiocular adipocytes, increased UCP1 expression and enhanced fatty acid oxidation.
Resveratrol induces brown-like adipocyte formation in iWAT via AMPKα1 activation and suggest that its beneficial antiobesity effects may be partly due to the browning of WAT and, as a consequence, increased oxygen consumption.
A look at the rise and decline of the Pinckney family whose
members were present at every major point in Charleston's
history.
Charleston's greatest years paralleled the rise to influence,
the ...heyday, and the decline of the Pinckney family... Charleston
dominated the intellectual and commercial life of what is now known
as the Deep South. It gave Carolina its leaders and decided
questions for the rest of the colony and state... The city was also
a great proslavery center, and it was this fact, plus the gradual
inward-turning, past-oriented attitude that led to the decline of
its influence on contemporary civilization.
•First study to contrast five decision-making tools with game theory.•Game theory is still undergoing consideration for use in the circular economy.•Cooperation is a feature too often missing in ...waste management decision-making.•Waste management can benefit from game theory capabilities to resolve conflict.•An adapted waste management bargaining example shows the potential of game theory.
Circular economy principles aim to contribute towards sustainability and resilience through several simultaneous agendas including economic growth, social development and environmental responsibility. Stakeholders from each perspective have their own interests and priorities, which often result in conflict. There are several and varied methodologies which address the decision-making process, however in engineering spheres these techniques are usually limited to optimising resources, time or costs. Decisions that are comprehensive in scope and integrated across all affected systems are required to transition towards a circular economy, effective cross-disciplinary thinking is imperative and cooperation amongst diverse areas is essential. Game theory is a useful technique when analysing the interactions of stakeholders with multiple objectives and perspectives. This paper aims to critically review methodological approaches used in waste management practice and provide a guidance on how game theory differs from, and is complementary to, the primary decision-making tools available where cooperation is a feature too often missing. This review seeks to justify the development of game theory to complement waste management decision-making methods in civil engineering, where resource consumption and waste management is often voluminous. An application of game theory to a waste management example illustrates that this methodological approach is of complementary value. The contribution of this study to circular economy and solid waste agendas is to emphasise the capability of game theory to help facilitate conflict resolution, competition, and stakeholder consensus when capturing multiple (sometimes conflicting) values in line with circular economy principles.
This study sought to determine the level of clergy distress and other psychological characteristics of Black pastors and their relationship to life satisfaction through a convenience sample of 2786 ...Black pastors in historically Black Protestant denominations and nondenominational Black churches. The response rate equaled 10.1% (283/2786) while the survey completion rate equaled 77% (218/283). These 218 Black pastors were serving as either senior pastors (86.3%) or co-pastors (13.7%). This study found clergy distress in Black pastors did not differ based on gender or age but differed by church size and denomination. Clergy distress (
r
= − .187,
p
= .023) and irritation (
r
= − .293,
p
= .003) possessed significant relationships with satisfaction with life as expected, but stress management (
r
= .039,
p
= .641), spiritual well-being in daily life (
r
= .140,
p
= .140), and spiritual well-being in ministry (
r
= − .064,
p
= .475) did not, which was surprising. Notably strong relationships existed between stress management and spiritual well-being in daily life (
r
= .469,
p
= .003) and stress management and irritation (
r
= − .359,
p
= .003). These two important relationships may offer some guideposts for Black pastors in developing strategies to combat the impact of both clergy distress and irritation. The study concludes with implications for Black pastors and suggestions for future research.
Isobaric labeling empowers proteome-wide expression measurements simultaneously across multiple samples. Here an expanded set of 16 isobaric reagents based on an isobutyl-proline immonium ion ...reporter structure (TMTpro) is presented. These reagents have similar characteristics to existing tandem mass tag reagents but with increased fragmentation efficiency and signal. In a proteome-scale example dataset, we compared eight common cell lines with and without Torin1 treatment with three replicates, quantifying more than 8,800 proteins (mean of 7.5 peptides per protein) per replicate with an analysis time of only 1.1 h per proteome. Finally, we modified the thermal stability assay to examine proteome-wide melting shifts after treatment with DMSO, 1 or 20 µM staurosporine with five replicates. This assay identified and dose-stratified staurosporine binding to 228 cellular kinases in just one, 18-h experiment. TMTpro reagents allow complex experimental designs-all with essentially no missing values across the 16 samples and no loss in quantitative integrity.
We describe a system for generating frequency-chirped and amplitude-shaped pulses on time scales from sub-nanosecond to ten nanoseconds. The system starts with cw diode-laser light at 780 nm and ...utilizes fiber-based electro-optical phase and intensity modulators, driven by an arbitrary waveform generator, to generate the shaped pulses. These pulses are subsequently amplified to several hundred mW with a tapered amplifier in a delayed double-pass configuration. Frequency chirps up to 5 GHz in 2 ns and pulse widths as short as 0.15 ns have been realized.
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