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This study investigates the relationship between bank ownership structure, non-interest income and risk in an emerging market setting. Our analysis shows that the relationship between product diversification and bank risk is significantly influenced by asset size and ownership structure. In contrast to large banks, small banks are exposed to higher risk when the income share of non-traditional banking activities rise. We also find strong evidence of differences in risk exposure of banks to non-interest income after controlling for ownership structure. Private domestic and private foreign banks experience lower risk with higher non-interest income while the converse is true for public domestic banks. Furthermore, we show that the speed with which risk adjust to non-income activities is faster for domestic private banks than for foreign banks. These results could provide useful information to investors and regulators of banking institutions as they seek to reconcile the important issues of bank ownership structure, income diversification and size on the one hand with the level of risk exposure on the other hand. © 2016, Banking and Finance Review.

This paper examines sustainability conditions when the stock effects of renewable resources prevail, and characterizes the maximal critical level of initial pollution emissions such that Pigovian tax alone ensures sustainable growth. (C) 2016 Elsevier B.V. All rights reserved.

The recent evidence from Eastern Europe suggests that one of the major obstacles towards the adoption of euro may lie in the impact that the recession of 2008 exerted on the trajectory of real exchange rates in new member countries (European Commission, 2015). This paper aims to establish and explain the relationship between the external shocks derived from the global financial crisis and recession of 2008 and equilibrium real exchange rate in advanced transition economies of Eastern Europe. The interplay between the external and internal balances is explained by developing an inter-temporal optimizing model of the real exchange rate determination in a small open economy with structural distortions. The results of our model suggest that, in the aftermath of recession, if the Eastern European economies attempt to restore and maintain the balance between the consumption, saving, and investment, the equilibrium real exchange rate will tend to reverse its trajectory from appreciation to depreciation over time in order to encourage a greater production in the future. The equilibrium real exchange rate depreciation in the future may obtain either as a result of an increase in the direct subsidies on investment or as a result of reduced subsidies on the "net-of-investment" income. The deprecation of countries’ real exchange rate, however, may continue to act as an effective constraint against the adoption of euro. © 2015, Institute of Eastern Europe and Central Asia. All rights reserved.

Apparent synchrony between eruption/emplacement of large igneous province (LIP) magmas and mass extinction has led to the implication of magmatism as a primary trigger of global scale environmental change. Evaluating the efficacy of magmatism as a driver of global change depends on the relative timing of magmatism and environmental change, and the magma effusion/intrusion rate, both of which can be constrained by high-precision geochronology. Early Jurassic (Pliensbachian-Toarcian) global ocean anoxia and acidification, carbon isotope perturbations, and biotic crisis have been linked to "synchronous" eruption and emplacement of the Karoo and Ferrar LIPs. To better constrain the timing and duration of Ferrar magmatism, we apply the single crystal, chemical abrasion U-Pb ID-TIMS method to zircon crystals isolated from twenty Ferrar LIP sills and lavas, and the Dufek intrusion. Dates suggest that both intrusive and extrusive Ferrar magmatism occurred over an interval of 349. ±. 49 kyr, beginning with intrusive magmatism as early as 182.779. ±. 0.033 Ma. Lava eruption was synchronous with, and in some cases postdates intrusion. When coupled with existing geochronology on the Karoo province, our dates confirm broad synchrony between Karoo and Ferrar magmatism, though Karoo magmatism began demonstrably prior to Ferrar magmatism, starting as early as 183.246. ±. 0.045 Ma. The short-lived magmatic history of the Ferrar LIP makes it a plausible trigger for early-Jurassic environmental change. © 2015.

The impact of increasing summer melt on the dynamics and stability of the Greenland Ice Sheet is not fully understood. Mounting evidence suggests seasonal evolution of subglacial drainage mitigates or counteracts the ability of surface runoff to increase basal sliding. Here, we compare subdaily ice velocity and uplift derived from nine Global Positioning System stations in the upper ablation zone in west Greenland to surface melt and supraglacial lake drainage during summer 2007. Starting around day 173, we observe speedups of 6-41% above spring velocity lasting ∼40 days accompanied by sustained surface uplift at most stations, followed by a late summer slowdown. After initial speedup, we see a spatially uniform velocity response across the ablation zone and strong diurnal velocity variations during periods of melting. Most lake drainages were undetectable in the velocity record, and those that were detected only perturbed velocities for ∼1 day, suggesting preexisting drainage systems could efficiently drain large volumes of water. The dynamic response to melt forcing appears to (1) be driven by changes in subglacial storage of water that is delivered in diurnal and episodic pulses, and (2) decrease over the course of the summer, presumably as the subglacial drainage system evolves to greater efficiency. The relationship between hydrology and ice dynamics observed is similar to that observed on mountain glaciers, suggesting that seasonally large water pressures under the ice sheet largely compensate for the greater ice thickness considered here. Thus, increases in summer melting may not guarantee faster seasonal ice flow. Copyright 2011 by the American Geophysical Union.

Understanding how experienced teachers share and articulate effective mentoring practices can guide efforts to prepare quality mentors. This qualitative study focused on mentoring practices within a teacher-designed student-teaching program conceptualized while the mentor teachers within the program were students in a graduate-level mentoring course and implemented upon the mentors’ completion of their graduate studies. Data sources included interviews and field notes from meetings with mentors and student teachers. The results detail specific mentoring practices: explicit instruction through scaffolding, developing the whole teacher, student-teacher-directed learning, fostering student teachers’ individual practice, explicit mentoring of one another, and reflecting on mentoring. These practices were enabled by program structures such as mentor meetings, an online forum, and mentors’ observation of all student teachers in the program. © 2016, © 2016 CCNY and ATE.

Recent interest in materials culture and artifactual literacies has helped the authors of this article rethink how they teach preservice and inservice teachers and collaborate with K-12 teachers. Each discipline has its own stuff that can help students understand the products and practices of a field beyond what they might be able to glean from text. To that end, every teacher should see their classroom and content area as a "place for my stuff" because objects speak and communicate more messages through form, color, size, and texture than print alone. © 2015 International Literacy Association.

Conventional methods of addressing the needs of students with print disabilities include text-to-speech services. One major drawback of text-to-speech technologies is that computerized speech simply articulates the same words in a text whereas human voice can convey emotions such as excitement, sadness, fear, or joy. Audiobooks have human narration, but are designed for entertainment and not for teaching word identification, fluency, vocabulary, and comprehension to students. This chapter focuses on the 3-year pilot of CRISKids; all CRIS recordings feature human narration. The pilot demonstrated that students who feel competent in their reading and class work tend to be more engaged in classroom routines, spend more time on task and demonstrate greater comprehension of written materials. When more demonstrate these behaviors and skills, teachers are better able to provide meaningful instruction, since less time is spent on issues of classroom management and redirection. Thus, CRISKids impacts not only the students with print disabilities, but all of the students in the classroom.

What affordances do multimodal and digital information provide to the student and teacher with regard to responding to and writing poetry? This question juxtaposes one of the oldest literary genres in human history (i.e., poetry), with some of the newest technologies available. To enrich the content and effect as students experience poetry, technology may seem like an unwelcome stranger. Research has found, however, that “multimedia texts and multimodal composing may actually shift classroom culture toward a more learner-centered paradigm” (Chandler-Olcott & Mahar, 2003, pp. 381-382). This chapter explores the integration of technology with both response to poetry and authorship of poetic works as a means to enrich English classroom experiences. In the authors’ view, important work in this arena must not use technological tools for the sake of using technology in the classroom, but, rather, for the sake of enriching literary experiences. Ultimately, by connecting response, authorship, and multimodal technologies, the teaching of poetry may be enhanced by the teaching of 21st century literacy skills. Toward these ends, the authors share opportunities for intertwining multimodal text with the teaching of poetry to enrich literacy and literary experience in middle and high school classrooms.

The study compared the invented spelling of vowels in kindergarten native Spanish speaking children with that of English monolinguals. It examined whether, after receiving phonics instruction for short vowels, the spelling of native Spanish-speaking kindergartners would contain phonological errors that were influenced by their first language. Results showed no differences between the two groups on the number of correct short vowel spellings, even though the sounds for four of the five English short vowels do not exist in Spanish. By contrast, differences were observed in the representation of long vowels with a higher rate of error among ELLs. The students had not received explicit instruction in long vowels. ELLs appeared to be trying to represent the diphthongized nature of some English long vowels by spelling long vowels with more than one vowel. The results support the authors' hypothesis that kindergarten phonics instruction had an impact on the invented spellings of new second language vowel phonemes.