Resolving the National Banking System Note-Issue Puzzle

Resolving the National Banking SystemNote-Issue Puzzle

Under the National Banking System, 1863–1914, national banks that deposited sufficient collateral could issue notes provided they paid a tax on notes in circulation: 1% per year before 1900 and 12% thereafter. Because note issue was far below the allowed maximum, an arbitrage argument predicts that short-term nominal interest rates should have been bounded above by the tax rate. They were not. ...

Resolving the National Bank Note Paradox

Resolving "This-issue" Anaphora

We annotate and resolve a particular case of abstract anaphora, namely, thisissue anaphora. We propose a candidate ranking model for this-issue anaphora resolution that explores different issuespecific and general abstract-anaphora features. The model is not restricted to nominal or verbal antecedents; rather, it is able to identify antecedents that are arbitrary spans of text. Our results show...

Drinking in snakes: resolving a biomechanical puzzle.

Snakes have long been thought to drink with a two-phase buccal-pump mechanism, but observations that some snakes can drink without sealing the margins of their mouths suggest that buccal pumping may not be the only drinking mechanism used by snakes. Here, we report that some snakes appear to drink using sponge-like qualities of specific regions of the oropharyngeal and esophageal mucosa and spo...

Resolving an E-book Quality Puzzle

As it turned out, the E-book devices produced by three suppliers failed to meet Amazon’s requirements. Since the company emphasizes on high quality, they conducted an investigation immediately but could not identify the cause of the quality failure. In response to this, they decided to seek help from an expert parterner. The company turned to ITQM, a joint venture of Intertek and TQM Consultant...