We measure how securitized assets, including mortgage-backed securities and other assetbacked securities, have shifted across financial institutions over this crisis and how the availability of financing has accommodated such shifts. Sectors dependent on repo financing – in particular, the hedge fund and broker-dealer sector – have reduced asset holdings, while the commercial banking sector, wh...

The Antarctic contribution to sea-level rise has long been uncertain. While regional variability in ice dynamics has been revealed, a picture of mass changes throughout the continental ice sheet is lacking. Here, we use satellite radar altimetry to measure the elevation change of 72% of the grounded ice sheet during the period 1992-2003. Depending on the density of the snow giving rise to the o...

A balance sheet structure including fixed assets, net working capital and risky long-term debt leads to a model for option pricing of the firm’s equity. Each of the financial components constitutes a source of risk. A hedge based on three distinct options and the stock enables risk neutral valuation and avoids the problems of lack of tradability of the assets and market incompleteness reflected...

This paper compares the stability of the US Dual Banking system’s two bank groups, national and state banks, in light of the current financial crisis. The goal of the paper is to answer three distinct questions: first, is there a difference in the (balance sheet-) fragility between the two groups and, second, to what extent has the balance sheet fragility of both groups changed after the beginn...

Aircraft laser-altimeter surveys over northern Greenland in 1994 and 1999 have been coupled with previously reported data from southern Greenland to analyze the recent mass-balance of the Greenland Ice Sheet. Above 2000 meters elevation, the ice sheet is in balance on average but has some regions of local thickening or thinning. Thinning predominates at lower elevations, with rates exceeding 1 ...

Abstract This paper investigates the effect of international financial integration on international business cycle co-movement. We first show with a reduced form empirical approach how capital market integration (equity) has a negative effect on business cycle co-movement while credit market integration (debt) has a positive effect. We then construct a model that can replicate these empirical r...

Financial intermediaries, such as banks, perform many roles: they screen risks, evaluate and fund worthy entrepreneurs, pool risks, monitor borrowers, refinance projects, and—when confronted with the default in their loans—they perform a valuable role in loss discovery and assessing whether the bankrupt concern is economically viable or not. All these activities, which constitute the actions of...

background and aim: multiple sclerosis is a chronic inflammatory disease of demyelinating lesions in the brain, spinal cord and optic nerve. one of the most debilitating symptoms of multiple sclerosis (ms) patients is impaired balance. thus in people with ms, collecting information about the impact of impaired balance on life style and the disability which is being perceived by the patient is e...