An Economic Theory of Mortgage Redemption Laws

Redemption laws give mortgagors the right to redeem their property following default for a statutorily set period of time. This paper develops a theory that explains these laws as a means of protecting landowners against the loss of nontransferable values associated with their land. A longer redemption period reduces the risk that this value will be lost but also increases the likelihood of default. The optimal redemption period balances these effects. Empirical analysis of cross-state data from the early twentieth century suggests that these factors, in combination with political considerations, explain the existence and length of redemption laws.

The Impact of Property Condition Disclosure Laws on Housing Prices: Evidence from an Event Study using Propensity Scores

We examine the impact of seller's Property Condition Disclosure Law on the residential real estate values. A disclosure law may address the information asymmetry in housing transactions shifting of risk from buyers and brokers to the sellers and raising housing prices as a result. We combine propensity score techniques from the treatment effects literature with a traditional event study approach. We assemble a unique set of economic and institutional attributes for a quarterly panel of 291 US Metropolitan Statistical Areas (MSAs) and 50 US States spanning 21 years from 1984 to 2004 is used to exploit the MSA level variation in house prices. The study finds that the average seller may be able to fetch a higher price (about three to four percent) for the house if she furnishes a state-mandated seller.s property condition disclosure statement to the buyer. When we compare the results from parametric and semi-parametric event analyses, we find that the semi-parametric or the propensity score analysis generals moderately larger estimated effects of the law on housing prices.

Laws, volksraad resolutions, proclamations and government notices relating to natives and coolies in the Transvaal

transl. by Sydney Hilton Barber ...

Effects of congressional modernization laws on public access to innovative medical device technologies

The Federal Food and Drug Administration (FDA) and the Centers for Medicare and Medicaid (CMS) play key roles in making Class III, medical devices available to the public, and they are required by law to meet statutory deadlines for applications under review. Historically, both agencies have failed to meet their respective statutory requirements. Since these failures affect patient access and may adversely impact public health, Congress has enacted several “modernization” laws. However, the effectiveness of these modernization laws has not been adequately studied or established for Class III medical devices. ^ The aim of this research study was, therefore, to analyze how these modernization laws may have affected public access to medical devices. Two questions were addressed: (1) How have the FDA modernization laws affected the time to approval for medical device premarket approval applications (PMAs)? (2) How has the CMS modernization law affected the time to approval for national coverage decisions (NCDs)? The data for this research study were collected from publicly available databases for the period January 1, 1995, through December 31, 2008. These dates were selected to ensure that a sufficient period of time was captured to measure pre- and post-modernization effects on time to approval. All records containing original PMAs were obtained from the FDA database, and all records containing NCDs were obtained from the CMS database. Source documents, including FDA premarket approval letters and CMS national coverage decision memoranda, were reviewed to obtain additional data not found in the search results. Analyses were conducted to determine the effects of the pre- and post-modernization laws on time to approval. Secondary analyses of FDA subcategories were conducted to uncover any causal factors that might explain differences in time to approval and to compare with the primary trends. The primary analysis showed that the FDA modernization laws of 1997 and 2002 initially reduced PMA time to approval; after the 2002 modernization law, the time to approval began increasing and continued to increase through December 2008. The non-combined, subcategory approval trends were similar to the primary analysis trends. The combined, subcategory analysis showed no clear trends with the exception of non-implantable devices, for which time to approval trended down after 1997. The CMS modernization law of 2003 reduced NCD time to approval, a trend that continued through December 2008. This study also showed that approximately 86% of PMA devices do not receive NCDs. ^ As a result of this research study, recommendations are offered to help resolve statutory non-compliance and access issues, as follows: (1) Authorities should examine underlying causal factors for the observed trends; (2) Process improvements should be made to better coordinate FDA and CMS activities to include sharing data, reducing duplication, and establishing clear criteria for “safe and effective” and “reasonable and necessary”; (3) A common identifier should be established to allow tracking and trending of applications between FDA and CMS databases; (4) Statutory requirements may need to be revised; and (5) An investigation should be undertaken to determine why NCDs are not issued for the majority of PMAs. Any process improvements should be made without creating additional safety risks and adversely impacting public health. Finally, additional studies are needed to fully characterize and better understand the trends identified in this research study.^

An Overview of Abortion Laws

Since the Supreme Court handed down its 1973 decisions in Roe v. Wade and Doe v. Bolton, states have constructed a lattice work of abortion law, codifying, regulating and limiting whether, when and under what circumstances a woman may obtain an abortion. The following table highlights the major provisions of these state laws. More detailed information can be found by selecting the table column headings in blue. Except where noted, the laws are in effect, although they may not always be enforced.

Conservation laws for liquid bridges

Conservation laws for an inviscid liquid bridge set into motion by conservative forces are given in integral form. These laws provide useful information on the overall motion of the bridge in the presence of unexpected or uncontrolled disturbances and could, in addition, be monitored in a computational solution of the problem as an accuracy check. Many of the resulting conservation laws are familiar to fluiddynamicists. Nevertheless, a systematic approach providing an exhaustive list of these laws reveals the existence of new conserved properties hardly deducible in the classical way. Although the present analysis concerns the case of axial, and constant, gravity it can be applied, with minor refinements, when the gravity field varies with time in both direction and intensity.

A mathematical framework for finite strain elastoplastic consolidation. Part 1: Balance laws, variational formulation, and linearization

A mathematical formulation for finite strain elasto plastic consolidation of fully saturated soil media is presented. Strong and weak forms of the boundary-value problem are derived using both the material and spatial descriptions. The algorithmic treatment of finite strain elastoplasticity for the solid phase is based on multiplicative decomposition and is coupled with the algorithm for fluid flow via the Kirchhoff pore water pressure. Balance laws are written for the soil-water mixture following the motion of the soil matrix alone. It is shown that the motion of the fluid phase only affects the Jacobian of the solid phase motion, and therefore can be characterized completely by the motion of the soil matrix. Furthermore, it is shown from energy balance consideration that the effective, or intergranular, stress is the appropriate measure of stress for describing the constitutive response of the soil skeleton since it absorbs all the strain energy generated in the saturated soil-water mixture. Finally, it is shown that the mathematical model is amenable to consistent linearization, and that explicit expressions for the consistent tangent operators can be derived for use in numerical solutions such as those based on the finite element method.

Modelling of corrosion-induced cover cracking in reinforced concrete by an embedded cohesive crack finite element

Corrosion of a reinforcement bar leads to expansive pressure on the surrounding concrete that provokes internal cracking and, eventually, spalling and delamination. Here, an embedded cohesive crack 2D finite element is applied for simulating the cracking process. In addition, four simplified analytical models are introduced for comparative purposes. Under some assumptions about rust properties, corrosion rate, and particularly, the accommodation of oxide products within the open cracks generated in the process, the proposed FE model is able to estimate time to surface cracking quite accurately. Moreover, emerging cracking patterns are in reasonably good agreement with expectations. As a practical case, a prototype application of the model to an actual bridge deck is reported.

Cohesive-frictional modelling of bond and splitting action of prestressing wire

This work shows a numerical procedure for bond between indented wires and concrete, and the coupled splitting of the concrete. The bond model is an interface, non-associative, plasticity model. It is coupled with a cohesive fracture model for concrete to take into account the splitting of such concrete. The radial component of the prestressing force, increased by Poisson’s effect, may split the surrounding concrete, decreasing the wire confinement and diminishing the bonding. The combined action of the bond and the splitting is studied with the proposed model. The results of the numerical model are compared with the results of a series of tests, such as those which showed splitting induced by the bond between wire and concrete. Tests with different steel indentation depths were performed. The numerical procedure accurately reproduces the experimental records and improves knowledge of this complex process.

The evolution of the laws of software evolution. A discussion based on a systematic literature review

After more than 40 years of life, software evolution should be considered as a mature field. However, despite such a long history, many research questions still remain open, and controversial studies about the validity of the laws of software evolution are common. During the first part of these 40 years the laws themselves evolved to adapt to changes in both the research and the software industry environments. This process of adaption to new paradigms, standards, and practices stopped about 15 years ago, when the laws were revised for the last time. However, most controversial studies have been raised during this latter period. Based on a systematic and comprehensive literature review, in this paper we describe how and when the laws, and the software evolution field, evolved. We also address the current state of affairs about the validity of the laws, how they are perceived by the research community, and the developments and challenges that are likely to occur in the coming years.

A fracture model for pearlitic steel bars using a cohesive model

The fracture of ductile materials, such as metals, is usually explained with the theory of nucleation, growth and coalescence of microvoids. Based on this theory, many numerical models have been developed, with a special mention to Gurson-type models. These models simulate mathematically the physical growth of microvoids, leading to a progressive development of the internal damage that takes place during a tensile test. In these models, the damage starts to develop in very early stages of the test. Tests carried out by the authors suggest that, in the case of some eutectoid steels such as those used for manufacturing prestressing steel wires, the internal damage that takes place as a result of the growth of microvoids is only noticeable in very late stages of the tensile test. In the authors’ opinion, using a cohesive model as a failure criterion may be interesting in this case; a cohesive model only requires two parameters to be defined, with the fracture energy being one of them, which can be obtained experimentally. In addition to this, given that it is known that the stress triaxiality has a strong influence on the fracture of ductile materials, a cohesive model whose parameters are affected by the value of the stress triaxiality can be considered. This work presents a fracture model for steel specimens in a tensile test, based on a cohesive behaviour and taking into account the effect of stress triaxiality, which is different at each point of the fracture plane.

Studying the laws of software evolution in a long-lived FLOSS project

ome free, open-source software projects have been around for quite a long time, the longest living ones dating from the early 1980s. For some of them, detailed information about their evolution is available in source code management systems tracking all their code changes for periods of more than 15 years. This paper examines in detail the evolution of one of such projects, glibc, with the main aim of understanding how it evolved and how it matched Lehman's laws of software evolution. As a result, we have developed a methodology for studying the evolution of such long-lived projects based on the information in their source code management repository, described in detail several aspects of the history of glibc, including some activity and size metrics, and found how some of the laws of software evolution may not hold in this case

An embedded cohesive crack model for finite element analysis of quasi-brittle materials

This paper presents a numerical implementation of the cohesive crack model for the anal-ysis of quasibrittle materials based on the strong discontinuity approach in the framework of the finite element method. A simple central force model is used for the stress versus crack opening curve. The additional degrees of freedom defining the crack opening are determined at the crack level, thus avoiding the need for performing a static condensation at the element level. The need for a tracking algorithm is avoided by using a consistent pro-cedure for the selection of the separated nodes. Such a model is then implemented into a commercial program by means of a user subroutine, consequently being contrasted with the experimental results. The model takes into account the anisotropy of the material. Numerical simulations of well-known experiments are presented to show the ability of the proposed model to simulate the fracture of quasibrittle materials such as mortar, concrete and masonry.

Experimental validation of a fracture model for pearlitic steel bars based on the cohesive zone model

Congreso internacional celebrado en Praga sobre modelos numéricos de fractura en el campo de la ciencia de materiales y estructuras.