The Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) directed the FDIC to resolve bank failures in the least costly manner, shifting more of the failure-resolution burden to jumbo-CD holders. We examine the sensitivity of jumbo-CD yields and runoffs to failure risk before and after FDICIA. We also examine the economic significance of estimated risk sensitivities before and...

The paper shows how excessive reporting, called “crying wolf”, can dilute the information value of reports. Excessive reporting is investigated by undertaking the first formal analysis of money laundering enforcement. Banks monitor transactions and report suspicious activity to government agencies, which use these reports to identify investigation targets. Banks face fines should they fail to r...

The economics of federalism is a broad discipline with more than five decades of experience. It may shed light on how regulatory jurisdiction is allocated in EU electricity and telecommunications markets. Specifically, this paper assesses the evolution of reform up to and including the third EU packages, which continue the liberalization and integration process in these markets. Liberalization ...

We construct a new index of media slant that measures whether a news outlet’s language is more similar to a congressional Republican or Democrat. We apply the measure to study the market forces that determine political content in the news. We estimate a model of newspaper demand that incorporates slant explicitly, estimate the slant that would be chosen if newspapers independently maximized the...

Experience shows that private or locally financed toll roads do not always reward their investors. This paper studies a case where investors in toll roads earned competitive returns on average but with wide variation in outcomes. The context is England and Wales during their early industrialization when private investors provided much of the capital to improve what were called turnpike trust ro...

Several patterns emerge from a review of historical developments in the electricity industry: (1) conflicts arise from a number of sources; (2) responses to events and perceived crises tend to involve national (and state) legislation; (3) a lack of broad public (and political) consensus regarding the appropriate role of market mechanisms vs. government regulations; (4) absence of significant ch...

Using the shallow water equations, a numerical framework on a spherical geodesic grid that conserves domainintegrated mass, potential vorticity, potential enstrophy, and total energy is developed. The numerical scheme is equally applicable to hexagonal grids on a plane and to spherical geodesic grids. This new numerical scheme is compared to its predecessor and it is shown that the new scheme d...

The ATP-sensitive K+ (KATP) channel controls blood glucose levels by coupling metabolism to insulin secretion in pancreatic β-cells. E23K, a common polymorphism the pore-forming KATP subunit (KCNJ11) gene, has been linked increased risk of type 2 diabetes. Understanding risk-allele-specific pathogenesis potential improve personalized diabetes treatment, but underlying mechanism remained elusive...

Copyright © 2015 Tien-Jyun Chang et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. Diabetes mellitus is a chronic progressive metabolic disease, resulting from both insulin resistance and the dysfunction of beta-cells. Beta-c...