The Development of Credit Unions and their Role in Tackling Financial Exclusion

The government has been actively encouraging the development of credit unions to help the financially excluded. However, rather than stimulating credit union development, government grants can erode the community self-help ethos on which credit unions are founded. Policies should be formulated which encourage credit union development based on a membership drawn from a cross-section of the population.

Optimal Credit Rationing in Not-For-Profit Financial Institutions

We examine the dynamic optimization problem for not-for-profit financial institutions (NFPs) that maximize consumer surplus, not profits. We characterize the optimal dynamic policy and find that it involves credit rationing. Interest rates set by mature NFPs will typically be more favorable to customers than market rates, as any surplus is distributed in the form of interest rate subsidies, with credit rationing being required to prevent these subsidies from distorting loan volumes from their optimal levels. Rationing overcomes a fundamental problem in NFPs; it allows them to distribute the surplus without distorting the volume of activity from the efficient level.

A gain-of-function mutation in the HIF2A gene in familial erythrocytosis

Hypoxia-inducible factor (HIF) a, which has three isoforms, is central to the continuous balancing of the supply and demand of oxygen throughout the body. HIF-a is a transcription factor that modulates a wide range of processes, including erythropoiesis, angiogenesis, and cellular metabolism. We describe a family with erythrocytosis and a mutation in the HIF2A gene, which encodes the HIF-2a protein. Our functional studies indicate that this mutation leads to stabilization of the HIF-2a protein and suggest that wild-type HIF-2a regulates erythropoietin production in adults.

High-gain subwavelength resonant cavity antennas based on metamaterial ground planes

Planar metarnaterial Surfaces with negative reflection phase values are proposed as ground planes in a high-gain resonant cavity antenna configuration. The antenna is formed by the metarnaterial ground plane (MGP) and a superimposed metallodielectric electromagnetic band gap (MEBG) array that acts as a partially reflective surface (PRS). A single dipole positioned between the PRS and the ground IS utilised as the excitation. Ray analysis is employed to describe the functioning of the antennas and to qualitatively predict the effect of the MGP oil the antenna performance. By employing MGPs with negative reflection phase values, the planar antenna profile is reduced to subwavelength values (less than lambda/6) whilst maintaining high directivity. Full-wave simulations have been carried out with commercially available software (Microstripes (TM)). The effect of the finite PRS size on the antenna radiation performance (directivity and sidelobe level) is studied. A prototype has been fabricated and tested experimentally in order to validate the predictions.