AIMS Cardiomyopathy produces significant mortality in patients with Friedreich ataxia (FA), a genetic disorder that produces intra-mitochondrial iron accumulation. We sought to test the hypothesis that abnormal myocardial perfusion reserve and fibrosis represent early manifestations of cardiomyopathy. METHODS AND RESULTS Twenty-six patients with genetically proven FA ages 36 ± 12 years withou...

We conduct a systematic comparison of confidence intervals around estimated probabilities of default (PD), using several analytical approaches from large-sample theory and bootstrapped small-sample confidence intervals. We do so for two different PD estimation methods—cohort and duration (intensity)—using twenty-two years of credit ratings data. We find that the bootstrapped intervals for the d...

Shill bidding in English auctions is the use of insincere bids on the seller’s behalf to artificially drive up the price of the listing. Shilling is illegal and has become a serious problem in online auctions because it is easy for the seller to bid under false names and hence self-collude. We show that in an independent private-value (IPV) English auction where there are heterogeneous bidders ...

O ver the last two decades, central banks around the world have adopted a common approach to monetary policy that involves targeting the value of a short-term interest rate. In the United States, for example, the Federal Open Market Committee (FOMC) announces a rate that it wishes to prevail in the federal funds market, where commercial banks lend balances held at the Federal Reserve to each ot...

This paper examines how the production of payment services impacts the franchise value of banks. It also explores whether analysts are incorrectly measuring the performance of the banking sector and failing to realize the full importance of payments-driven revenues to banks. In initial empirical analysis, we find limited evidence to suggest that higher payments-driven revenues are associated wi...

This review discusses visual and functional evaluation of the hemodynamic significance of the degree of stenosis in coronary angiography, with respect to the indications for revascularization. The concept of the coronary flow reserve is defined, and the theoretical assumptions of the invasive measurement of the fractional flow reserve (FFR) are presented. In the following part, the publication ...

The views in this paper are solely the responsibility of the authors and should not be interpreted as reflecting the views of the Federal Reserve Bank of San Francisco or the Board of Governors of the Federal Reserve System. ABSTRACT A recent decline in internal migration in the United States may have been caused in part by falling house prices, through the " lock in " effects of financial cons...

Randall W. Eberts is an assistant vice president and economist at the Federal Reserve Bank of Cleveland. The author wishes to thank Paul Bauer, William Fox, and Joe Stone for helpful comments and discussions and Douglas Dalenberg and Chul Soo Park for research assistance. Michael Fogarty and Gaspar Garofalo provided the private capital stock series. Estimation of the public capital stock series...