Purpose: The objective of the study is to determine if an over-borrowing bias emerges when the state fiscal base is shared by multiple general-purpose and special-purpose jurisdictions serving different groups of citizens. Design/methodology/approach: This study uses panel data from all 50...

This paper investigates how state governments used budget balancing strategies to cope with budget shortfalls in the fiscal years between 2009 and 2013. Using data from the Fiscal Survey reports and Comprehensive Annual Financial Statements (CAFRs) covering all fifty states, the paper summarizes...

We report the results of a six-year study (2007–2013) of tillage regimes for use in producing winter wheat (Jimai 22) on the North China Plain, with supplemental irrigation. The tillage regimes include: plowing for six years (P6); rotary for six years (R6); rotary after subsoiling with an...

As a response to ligand binding, transmembrane cell receptors often enhance their clustering, or oligomerization, during the signalling process. Here we present a statistical mechanical model which combines the aspects of both clustering and signalling. In this model, receptors float on the...

Distributions of triplets in some genetic sequences are examined and found to be well described by a two-parameter Markov process with a sparse transition matrix. The standard deviations of all the relevant parameters are not large, indicating that most sequences gather in a small region in the...

I propose that the nonfinancial component of financial firms' assets, in particular the growth opportunities associated with business operations, drives most of the variation in their equity valuation. I document this fact for a large class of intermediaries: life insurance companies. In...