AN ANALYSIS OF SMALL BUSINESS LOAN GUARANTEE FUNDS

Small businesses are considered important engines for job growth and economic development by policy makers worldwide. One of the most commonly cited constraints of small businesses is a lack of access to capital. To address this constraint, small business loan guarantee programs have been established in over 100 countries. There are a variety of types of guarantee funds, with the most significant differences being which borrowers are eligible for guarantees, and how borrowers are approved for guarantees. There is currently no clear delineation between types of programs and the economic conditions they operate in, though some trends are becoming apparent. However, these trends may not be leading to the best economic outcomes possible. By better matching the structure of the guarantee fund to the economic conditions it operates in, the program’s success in meeting economic development goals may be greatly improved. Many programs in developing countries may not be taking advantage of bank expertise and may be limiting the scope of their effectiveness. At the same time, programs in developed countries may be wasting resources by scattering their efforts too thinly and subsidizing less competitive firms to the detriment of local economic development.

An Analysis of Anchitherine Equids Across the Eocene–Oligocene Boundary in the White River Group of the Western Great Plains

Anchitherine horses are a subfamily of equids that are abundantly represented in the late Eocene and early Oligocene of North America. This group has been heavily studied in the past, but important questions still remain. Some studies have focused on the Eocene-Oligocene boundary and have used these equids along with other taxa to study mammalian diet and climate change through this interval. I reexamine two anchitherine genera, Mesohippus and Miohippus, from stratigraphic sequences of the White River Group in western Nebraska and southwestern South Dakota. These sequences span the Chadronian (late Eocene), Orellan (early Oligocene), and Whitneyan (early Oligocene) North American land-mammal ages. The most recent revision of these genera was done by Prothero and Shubin (1989). I review the characters used for taxonomic identification. This includes characters such as the hypostyle, the articular facet on the third metatarsal, and dental dimensions. To avoid possible biases caused by combining specimens from different stratigraphic levels, specimens were separated by location and stratigraphic level. The length and width of cheek teeth, and tooth rows were measured on 488 specimens. First molar area serves as a proxy for body mass in horses and other mammals, and can be useful for distinguishing among species. Results indicate that the characters used by Prothero and Shubin were highly variable in anchitherine horses and are not useful for distinguishing between these genera. The development of the articular facet on the third metatarsal may be a function of body size and therefore may be of no more utility than first molar area. Variability in first molar area suggests the presence of three species in the medial and late Chadronian, two species in the Orellan, and at least two species in the Whitneyan. Due to a lack of objective criteria separating Mesohippus from Miohippus, I recommend synonymy of these genera, making Mesohippus a junior subjective synonym.

Measurement, Simulation, and Analysis of the Mechanical Response of Railroad Track

Increased railroad traffic volumes, speeds, and axle loads have created a need to better measure track quality. Previous research has indicated that the vertical track deflection provides a meaningful indicator of track integrity. The measured deflection can be related to the bending stresses in the rail as well as characterize the mechanical response of the track. This investigation summarizes the simulation, analysis and development of a measurement system at the University of Nebraska (UNL) to measure vertical track deflection in real-time from a car moving at revenue speeds. The UNL system operates continuously over long distances and in revenue service. Using a camera and two line lasers, the system establishes three points of the rail shape beneath the loaded wheels and over a distance of 10 ft. The resulting rail shape can then be related to the actual bending stress in the rail and estimate the track support through beam theory. Finite element simulations are used to characterize the track response as related to the UNL measurement system. The results of field tests using bondable resistance strain gages illustrate the system’s capability of approximating the actual rail bending stresses under load.

Energy Restriction During Breeding Gilt Development: An Economic Analysis

Swine production has increasingly become a lowmargin business. As costs of production have increased, producers are continuing to increase efficiency in both market pig production and gilt development. Restricting energy during gilt development reduces feeding costs and can enhance some productivity measures, but can also negatively impact other areas of production. Thus, the net economic returns from a restricted energy gilt development program are unclear. This study utilized gilt development and market pig production data for two genetic lines of hogs, LWxLR (a cross between industry Large White and Landrace) and L45X (a Nebraska line selected 23 generations for increased litter size) from Johnson and Miller and Johnson et al., to estimate the returns to finishing market hogs using conventional and restricted energy gilt development programs.