Canada/U.S. border crossing: facilitation and constraint

Abstract The aim of this research project is to draw on accounts of experiences ofborder crossing and regulation at the Canada/U.S. border at Niagara in order to illuminate the dynamics of differentiation and inequality at this site. The research is informed by claims that the world is turning into a global village due to transnational flows oftechnology, infonnation, capital and people. Much of the available literature on globalization shows that while the transfer of technology, information, and capital are enhanced, the transnational movement of people is both facilitated and constrained in complex and unequal ways. In this project, the workings of facilitation and constraint were explored through an analysis often interviews with people who had spent a substantial portion oftheir childhood (e.g. 5 years) in a Canadian border community. The interviewees were at the time ofthe research between the ages of 19 and 25. Because most ofthe respondents were 'white' Canadians of working to upper middle class status, my focus was to explore how 'whiteness' as privilege may translate into enhanced movement across borders and how 'white' people may internalize and enjoy this privilege but may often deny its reality. I was also interested in how inequality is perceived, understood, and legitimated by these relatively privileged people. My analysis ofthe ten accounts ofborder crossing and regulation suggests that differentially situated people experience border crossing differently. An important finding is that while relatively privileged border crossers perceived and often problernatized differential treatment based on external factors such as physical appearance, and especially race, most did not challenge such treatment but rather saw it as acceptable. These findings are located within newer literature that addresses the increasing securitization ofborders and migration in western societies.

The Informational Value of Corporate Credit Ratings

This thesis examines the quality of credit ratings issued by the three major credit rating agencies - Moody’s, Standard and Poor’s and Fitch. If credit ratings are informative, then prices of underlying credit instruments such as fixed-income securities and credit default insurance should change to reflect the new credit risk information. Using data on 246 different major fixed income securities issuers and spanning January 2000 to December 2011, we find that credit default swaps (CDS) spreads do not react to changes in credit ratings. Hence credit ratings for all three agencies are not price informative. CDS prices are mostly determined by historical CDS prices while ratings are mostly determined by historical ratings. We find that credit ratings are marginally more sensitive to CDS than CDS are sensitive to ratings.

Letter from the Chairman of the Committee of Ways and Means to the Secretary of the Treasurer on the subject of a system of revenue to revive and maintain unimpaired the public credit, with the answer of the Secretary thereto. (1814)

October 18, 1814. Read, and committed to the Committee of the whole House on the report of the Committee of Ways and Means on so much of the President's message as relates to the finances of the United States.

Region Connection Calculus: Composition Tables and Constraint Satisfaction Problems

Qualitative spatial reasoning (QSR) is an important field of AI that deals with qualitative aspects of spatial entities. Regions and their relationships are described in qualitative terms instead of numerical values. This approach models human based reasoning about such entities closer than other approaches. Any relationships between regions that we encounter in our daily life situations are normally formulated in natural language. For example, one can outline one's room plan to an expert by indicating which rooms should be connected to each other. Mereotopology as an area of QSR combines mereology, topology and algebraic methods. As mereotopology plays an important role in region based theories of space, our focus is on one of the most widely referenced formalisms for QSR, the region connection calculus (RCC). RCC is a first order theory based on a primitive connectedness relation, which is a binary symmetric relation satisfying some additional properties. By using this relation we can define a set of basic binary relations which have the property of being jointly exhaustive and pairwise disjoint (JEPD), which means that between any two spatial entities exactly one of the basic relations hold. Basic reasoning can now be done by using the composition operation on relations whose results are stored in a composition table. Relation algebras (RAs) have become a main entity for spatial reasoning in the area of QSR. These algebras are based on equational reasoning which can be used to derive further relations between regions in a certain situation. Any of those algebras describe the relation between regions up to a certain degree of detail. In this thesis we will use the method of splitting atoms in a RA in order to reproduce known algebras such as RCC15 and RCC25 systematically and to generate new algebras, and hence a more detailed description of regions, beyond RCC25.

Effects of credit rating change on risk-taking

This thesis investigates whether there are changes in risk-taking behavior following an upgrade or downgrade in credit ratings. Research on effects of rating changes on capital markets is well-documented but the literature on how rating changes may affect firm behavior is sparse. Following, a downgrade in credit rating, managers may increase risk-taking to improve their overall performance or reduce risk-taking following upgrades to ensure that their performance is assessed more on the basis of what they may deem success in the form of an upgrade. Using a sample of firms trading in the U.S from 1994-2013, we find evidence of change in risk-taking behavior. We use cross-sectional regressions and matching using propensity scores and Barber and Lyon (1997) methodology to measure changes in risk-taking and we do find evidence of changes in managerial risk-taking behavior. Furthermore, we find that the direction of change (increase or decrease) in some cases is dependent on the type of measure rather than the type of rating change.

Credit to S.D. Woodruff from Pratt and Company for $150.00

Credit to S.D. Woodruff from Pratt and Company for $150.00, Sept. 7, 1876.

Credit to S.D. Woodruff from Pratt and Company for $62.00

Credit to S.D. Woodruff from Pratt and Company for $62.00, Nov. 6, 1876.