Why do emerging economies borrow short term?

We argue that one reason why emerging economies borrow short term is that it is cheaperthan borrowing long term. This is especially the case during crises, as in these episodes therelative cost of long-term borrowing increases. We construct a unique database of sovereignbond prices, returns, and issuances at di¤erent maturities for 11 emerging economies from 1990to 2009 and present a set of new stylized facts. On average, these countries pay a higher riskpremium on long-term than on short-term bonds. During crises, the di¤erence between the tworisk premia increases and issuance shifts towards shorter maturities. To illustrate our argument,we present a simple model in which the maturity structure is the outcome of a risk sharingproblem between an emerging economy subject to rollover crises and risk averse internationalinvestors.

Row Crop Response to Topsoil Restored on Borrow Areas, HR-186, Supplemental Report, 1982

Borrow areas are created where soil is needed to provide fill for construction projects. This research evaluated (1) the changes in row crop productivity resulting from removal of soil for highway construction in Iowa and (2) restoration methods which included: depth of topsoil, subsoil tillage, manure application, and two years of legume growth prior to row cropping. The research was carried out from 1977-1981 at four locations. Corn and soybean y1elds from borrow areas have been below, equal to; and greater than yields from undisturbed, neighboring farmland. Little or no yield increase was noted from restored topsoil at coarse textured sites. At finer textured sites, a marked yield increase of both crops occurred after the addition of 6 inches of topsoil but little added yield increase resulted from restoring 12 inches of topsoil. Subsoil tillage has shown little or no beneficial effect on crop yields. The manure treatment has resulted in a corn yield increase but only in the first year after application.

Row Crop Response to Topsoil Restored on Borrow Areas, HR-186, 1982

Borrow areas are created where soil is needed to provide fill for construction projects. The changes in row-crop productivity resulting from removal of soil for highway construction in Iowa and restoration methods, which included addition to topsoil, subsoil tillage, manure application, and 2 yr of legume growth before row cropping, were evaluated. The research was carried out from 1977 to 1981 at four locations. Corn and soybean yields from borrow areas have been below, equal to, and greater than yields from undisturbed neighboring farmland. Little or no yield increase was noted from restored topsoil at coarse-textured sites. At finer-textured sites, a marked yield increase of both crops occurred after the addition of 6 in. of topsoil but little added yield increase resulted from restoring 12 in. of topsoil. Subsoil tillage has shown little or no beneficial effect on crop yields. The manure treatment has resulted in a corn yield increase but only in the first year after application.

Borrow or buy? cost-effective delivery of monographs

In an effort to reduce Interlibrary borrowing activity, while enhancing the Library collection, the Bertrand Library has initiated a program to purchase current monographs requested through ILL by Bucknell University students and faculty. The results have been a successful reduction in ILL workload, and a cost-effective means of document delivery as measured by average delivery time, cost-per-title, processing costs, and circulation statistics. This procedure reflects an overall change in our philosophy concerning document access and delivery, which led to the reorganization of ILL services and staff in the Bertrand Library.

"Continuation of the acco[unt] of books saved from the Fire by being borrow'd," ca. 1764

Lists books borrowed by those with surnames Wyeth, Goodhue, Eliot, Langdon, Adams, Apthorp, Bowdoin, Chardon, and Mayhew. Entries include format, title, author, and volume number. Written in multiple hands.

Benthic fauna of an offshore borrow area in Broward County, Florida /

Benthic fauna from two stations within a 5-year-old borrow area and two control stations off Hillsboro Beach (Broward County), Florida, were sampled quarterly from June 1977 to March 1978 to evaluate the long-term impact of offshore dredging. Generally enhanced productivities occurred within the borrow area, although there was much seasonal variation among stations. Species diversities were usually higher at the borrow stations than at the control stations. The single exception was due to a high concentration of the bivalve E. nitens at one of the control stations in June. Although faunal similarity analysis revealed a qualitative change in the fauna of the borrow area, this change is not considered detrimental. Conspicuous patterns of heterogeneous faunal distributions were evident in this study, particularly for the bivalve E. nitens. No lasting detrimental effects, in terms of numbers of species, faunal densities, or species diversity, resulted from the dredging operation. (Author).

Benthic community response to dredging borrow pits, Panama City Beach, Florida /

This report gives biological and physical oceanographic data from baseline work, and studies of dredged and undredged sediments before and after dredging (9-meter contour) for beach nourishment at Panama City Beach, Florida. These studies were designed to show major short-term environmental effects of offshore dredging and included analyses of hydrology, sediments, and benthos. (Author).

A deterministic procedure for the design of carry-save adders and borrow-save subtracters /

"To be presented at the First Annual IEEE Computer Conference, Chicago, Illinois, September 6-8, 1967."

The logical design of a class of limited carry-borrow propagation adders,

On cover: C00-1018-1152.

A study of parallel one's complement arithmetic units with separate carry or borrow storage /

Vita.

Behavior of beach fill and borrow area at Seaside Park, Bridgeport, Connecticut /

"February 1965."

Behavior of beach fill and borrow area at Sherwood Island State Park, Westport, Connecticut /

"May 1967."

Techniques in evaluating suitability of borrow material for beach nourishment /

"December 1975."