The Rise and Fall of the ABS Market

The nancial crisis has raised some concern about the quality of information available on some traded assets on the securities markets to market participants and regulators. Asset-backed securitization in general got partial blame for the paucity of liquidity on bank balance sheets and the consequent credit crunch. After the Asset-Backed Security (ABS) market fell to near inactivity in 2009, the US federal government's Term Asset-Backed Securities Loan Facility (TALF) provided backing and a boost to the issuance of asset-backed securitization. In this market condition, given the nature of ABS, it is di¢ cult for them not to be relatively illiquid, and this has resulted in unacceptable levels of market risk for most investors. Their liquidity before the crisis was driven by a market in continuous expansion, fed by Special Purpose Vehicle (SPV), Conduits, and other low capitalized term-transformation vehicles. Nowadays, the industry is concerned with the ongoing ABS reforms and how these will be implemented. This article reviews the ABS market in the last decade and the possible consequences of the recent regulatory proposals. It proposes a retention policy and the institution of a new nancial body to supervise the quality of the security in an ABS pool, its liquidity, and the model risk implied by the issuer's valuation model.

The rise and fall of piecework–timework wage differentials: market volatility, labor heterogeneity, and output pricing

Based on detailed payroll data of blue collar male and female labor in Britain’s engineering and metal working industrial sectors between the mid-1920s and mid-1960s, we provide empirical evidence in respect of several central themes in the piecework-timework wage literature. The period covers part of the heyday of pieceworking as well as the start of its post-war decline. We show the importance of relative piece rate flexibility during the Great Depression as well as during the build up to WWII and during the war itself. We account for the very significant decline in the differentials after the war. Labor market topics include piecework pay in respect of compensating differentials, labor heterogeneity, and the transaction costs of pricing piecework output.

Health effects of volcano ash cloud

The Public Health Agency is advising that the plume of volcanic ash over the north Atlantic is not currently a risk to public health in Northern Ireland. The previous eruption of the Eyjafjallajokull Icelandic volcano in April 2010 had no impact on public health in the UK and a study of respiratory and related symptoms reported to GPs in the UK in 2010 showed no unusual increases during the period in which the volcanic dust from Iceland was present in the atmosphere.In view of the present dynamic weather conditions across the UK the PHA is liaising closely with health protection colleagues in England, Scotland, Wales and the Met Office in relation to the latest available scientific information on the volcanic ash.For more information visit www.hpa.org.uk

Smart News, Issue 7, Fall, 2001

Newsletter for Economic Development

IDED Tools and Trends, Fall 2002

Newsletter for Economic Development

IDED Tools and Trends, Fall 2003

Newsletter for Economic Development

Iowa Aviation Bulletin, Fall 2002

Quarterly newsletter published by the Iowa Department of Transportation's Office of Aviation that contains information of interest to aviation-related persons and organizations.

Research News, Fall 2003

Newsletter for Iowa Department of Transportation

Iowa Aviation Bulletin, Fall 2003

Quarterly newsletter published by the Iowa Department of Transportation's Office of Aviation that contains information of interest to aviation-related persons and organizations.

The Iowa African-American Journal, Spring/Fall 2001, Vol. 7, no. 1

Newsletter for the Iowa Commission on the Status of African-Americans

The Iowa African-American Journal, Spring/Fall 2002, Vol. 8, no. 1

Newsletter for the Iowa Commission on the Status of African-Americans

White Cane Update, Fall 1998

The White Cane Update newsletter includes information about the latest happenings at the Iowa Department for the Blind.

White Cane Update, Fall 2003

The White Cane Update newsletter includes information about the latest happenings at the Iowa Department for the Blind.