Estimation in the continuous time mover‐stayer model with an application to bond ratings migration

The usual tool for modelling bond ratings migration is a discrete, time‐homogeneous Markov chain. Such model assumes that all bonds are homogeneous with respect to their movement behaviour among rating categories and that the movement behaviour does not change over time. However, among recognized sources of heterogeneity in ratings migration is age of a bond (time elapsed since issuance). It has been observed that young bonds have a lower propensity to change ratings, and thus to default, than more seasoned bonds. The aim of this paper is to introduce a continuous, time‐non‐homogeneous model for bond ratings migration, which also incorporates a simple form of population heterogeneity. The specific form of heterogeneity postulated by the proposed model appears to be suitable for modelling the effect of age of a bond on its propensity to change ratings. This model, called a mover–stayer model, is an extension of a Markov chain. This paper derives the maximum likelihood estimators for the parameters of a continuous time mover–stayer model based on a sample of independent continuously monitored histories of the process, and develops the likelihood ratio statistic for discriminating between the Markov chain and the mover–stayer model. The methods are illustrated using a sample of rating histories of young corporate issuers. For these issuers the default probabilities predicted by the Markov chain and mover–stayer models are different. In particular for 1–4 years old bonds the mover–stayer model estimates substantially lower default probabilities from rating C than a Markov chain. Copyright © 2004 John Wiley & Sons, Ltd.     

TSL and EPR studies of SrBPO5 doped with CeO2and co-doped with CeO2 and Sm2O3

Thermally stimulated luminescence (TSL) and electron paramagnetic resonance (EPR) investigations were carried out on gamma irradiated SrBPO₅ samples doped with CeO₂ and co-doped with CeO₂ and Sm₂O₃. On gamma-irradiation at room temperature, BO₃ ^2–, O₂ ^– and O^– radicals were produced. It was seen that the O^– radical ion disappeared in the sample annealed at 500 K. It is proposed that the recombination between trapped electrons and O^– radical ions results in transfer of recombination energy to the impurity centre Ce³⁺ resulting in TSL glow peak at 485 K. In the case of co-doped samples energy transfer occurs between Ce³⁺ to Sm³⁺ resulting in increase in the intensity of glow peak at 485 K.The authors are grateful to Dr. V. K. Manchanda, Head, Radiochemistry Division, BARC for his keen interest and encouragement during the course of this work.     

Simple high-performance liquid chromatographic method for the concurrent determination of the amine metabolites vanillylmandelic acid, 3-methoxy-4-hydroxyphenylglycol, 5-hydroxyindoleacetic acid, dihydroxyphenylacetic acid and homovanillic acid in urine using electrochemical detection

A simple method for the concurrent analysis of the noradrenaline metabolites vanillylmandelic acid and 3-methoxy-4-hydroxyphenylglycol, the dopamine metabolites dihydroxyphenylacetic acid and homovanillic acid, and the serotonin metabolite 5-hydroxyindoleacetic acid in human urine is described. Following organic extraction of the metabolites from acidified urine, they are separated by single-step gradient elution high-performance liquid chromatography on a reversed-phase column. Detection and quantification are achieved with an electrochemical detector using a carbon-paste electrode; samples can be injected at 40-min intervals. Optimisation of analytical parameters is described, and examples of the application of the method in the fields of clinical chemistry and clinical neuroscience are given. This provides a convenient method for the concurrent study of the metabolism of three major biogenic amines, and is readily adaptable for studies on cerebrospinal fluid and brain tissue.     

Characterization of serpentine: a potential nuclear shielding material

The use of serpentine as a potential nuclear shielding material necessitates a chemical quality control of the samples before its use in reactors. With this in view, characterization of these mineral samples was carried out using inductively coupled plasma atomic emission spectrometry (ICP-AES) and Instrumental neutron activation analysis (INAA) methods. The analytical results obtained by both ICP-AES and NAA techniques were found to be comparable. Na, Cr, Co, Zn, and Cu were found to be present in all samples of Indian origin while Ga, Ag, Ni, and Cd were found to below the limits of detection. A comparison on the detection limits of elements of interest was also carried out by both the analytical techniques and found to be in good agreement. An infrared spectroscopic investigation was also carried out on all the mineral samples. Bands at 3,689 and 3,648 cm⁻¹ were attributed to inner and outer hydroxyl stretching of Mg–OH, respectively. The weak and broad band centered around 3,416 cm⁻¹ was assigned due to the stretching vibrations of the adsorbed water molecules while three bands at 1076, 1022 and 968 cm⁻¹ were prescribed to the vibrations of the SiO₄ tetrahedra.     

Clouding and Hydrodynamic Behavior of Pluronic-Surfactant Interaction in Aqueous Salt Solutions

Clouding behavior of PEO-PPO-PEO and PPO-PEO-PPO block copolymers were studied in presence of sodium dodecyl sulfate (SDS) and NaCl. Extensive study of Pluronic P84 (EO₁₉PO₄₃EO₁₉) with different salts and ionic surfactants, were carried out using cloud point, viscosity and dynamic light scattering (DLS) measurements. The change in cloud point, as well as the size of P84 micelles in aqueous salt solution obeys the Hofmeister lyotropic series. Results on P84-ionic surfactant mixture indicate stronger interaction in case of SDS compared to those in presence of dodecyl trimethylammonium chloride (DTAC); here interaction seems to diminish in the presence of salts.     

Analytical application of poly [dibenzo-18-crown-6] for chromatographic separation of thorium(IV) from uranium(VI) and other elements in glycine medium

A selective and effective chromatographic separation method for thorium(IV) has been developed by using poly [dibenzo-18-crown-6] as stationary phase. The separations are carried out from glycine medium. The sorption of thorium(IV) was quantitative from 1 × 10^?2 to 1 × 10^?4 M glycine. The elution of thorium(IV) was quantitative with 2.0–8.0 M HCl, 4.0–7.0 M HBr, 1.0–2.0 M HClO₄ and 5.0 M H₂SO₄. The capacity of poly [dibenzo-18-crown-6] for thorium(IV) was found to be 0.215 ± 0.01 mmol/g of crown polymer. The effect of concentration of glycine, metal ion, foreign ion and eluents has been studied. Thorium(IV) was separated from a number of cations in ternary as well as in multicomponent mixtures. The applicability of the proposed method was checked for the determination of thorium(IV) in real as well as geological sample. The method is simple, rapid, and selective with good reproducibility (approximately ±2 %).     

Methods and concerns in disposal of nuclear waste from storage vials post recovery

Journal of Radioanalytical and Nuclear Chemistry - The speciation of iodine in environment must be known in order to properly assess its geological fate and to study potential remediation materials...     

An efficient protocol for the synthesis of 2-amino-4,6-diphenylpyridine-3-carbonitrile using ionic liquid ethylammonium nitrate

Chalcones on condensation with malononitrile and ammonium acetate in the presence of ionic liquid ethylammonium nitrate affords the corresponding 2-amino-4, 6-diphenylpyridine-3-carbonitrile in excellent yield. The ionic liquid is recycled and reused several times.     

Evidence for superconductivity in fluorinated La2CuO4 at 35 K: Microwave investigations

In the fluorinated La₂CuO_4−x prepared using a solid state reaction with NH₄HF₂ as a fluorinating agent at 550 K at ambient pressure, superconductivity was detected by microwave and EPR techniques with aT _c of 35 K.