Bank distress was a defining feature of the Great Depression in the United States. Most banks, however, weathered the storm and remained in operation throughout the contraction. We show that surviving banks cut lending when depositors withdrew funds en masse during panics. This panic-induced decline in lending explains about one-third of the reduction in aggregate commercial bank lending between 1929 and 1932, more than twice as much as attributed to the failure of banks.

Emptying–filling boxes have been studied in a wide range of configurations for decades, but the flow created in the box by two plumes rising from sources of arbitrary strength and elevation was previously unsolved. Guided by experiments and simplified analytical modelling, we reveal a rich array of two- and three-layer stratifications across seven possible flow regimes. The governing equations for these regimes show how the prevailing regime and stratification properties vary with three key parameters: the relative strength of the plumes, the height difference between their sources and a parameter characterising the resistance of the box to emptying. We observe and explain new behaviours not described in previous studies that are crucial to understanding emptying–filling boxes with multiple plumes. In particular, we demonstrate that the oft-assumed premise that $n$ plumes leads to a stratification with $n+1$ layers is not necessarily true, even in the absence of mixing. Two emptying–filling box models are developed: an analytical model addressing all combinations of the governing parameters and an extended model for three-layer stratifications that incorporates two mixing processes observed in the experiments. The predictions of these two models are in generally excellent agreement with measurements from the experimental campaign covering 69 combinations of the governing parameters. This study improves our understanding of emptying–filling boxes and could facilitate improvements to natural ventilation building design, as demonstrated by an example scenario in which occupants feel cooler upon the addition of a second source of heat.

Evidential records of investigative interviews serve an important institutional purpose within the legal system in England and Wales. Academic scholars have long recognized that little institutional attention is paid to the transformation process that occurs when written records of the spoken are produced, nor to the potential impact this has on later interpretation by users of the records during the investigation of crimes and later in court. We analyse twenty-nine digitally recorded investigative interviews and their corresponding official written ‘Record of Taped/Videoed Interview’ (ROTI/ROVI) transcripts, taking an ethnomethodological, conversation analytic (CA) approach to examine the social actions that are transformed in this activity by comparing the audio record of police interview evidence to the written transcripts. The intended outcome of this work, within the wider project of which this forms a part, is to better understand this process within the legal system, and to incite improvements. (Investigative interview, transcription, entextualisation, conversation analysis)

This paper documents trends over the last two decades in retirement behavior and retirement income choices of participants in TIAA, a large and mature defined contribution plan. From 2000 and 2018, the average age at which TIAA participants stopped contributing to their accounts, which is a lower bound on their retirement age, rose by 1.2 years for female and 2.0 years for male participants. There is considerable variation in the elapsed time between the time of the last contribution to and the first income draw from plan accounts. Only 40% of participants take an initial income payment within 48 months of their last contribution. Later retirement and lags between retirement and the first retirement income payout led to a growing fraction of participants reaching the required minimum distribution (RMD) age before starting income draws. Between 2000 and 2018, the fraction of first-time income recipients who took no income until their RMD rose from 10% to 52%, while the fraction of these recipients who selected a life-contingent annuitized payout stream declined from 61% to 18%. Among those who began receiving income before age 70, annuitization rates were significantly higher than among those who did so at older ages. Aggregating across all income-receiving beneficiaries at TIAA, not just new income recipients, the proportion with a life annuity as part of their payout strategy fell from 52% in 2008 to 31% in 2018. By comparison, the proportion of all income recipients taking an RMD payment rose from 16% to 29%. About one-fifth of retirees received more than one type of income; the most common pairing was an RMD and a life annuity. In the later years of our sample, the RMD was becoming the de facto default distribution option for newly retired TIAA participants.

Two factors have been instrumental in drawing scientists and scholars to northwestern Peru: oil resources and the climatic phenomena known as El Niño. During the past seventy-five years many aspects of the geology, paleontology, geography, climate, botany, zoology, and archaeology of the region north of the Sechura Desert have become well known. Due to the attention that scientists and the Peruvian government have paid to this area, the departments of Piura and Tumbes are scientifically the best known regions of Peru.

We apply the author's computational approach to groups to our empirical work studying and modelling riots. We suggest that assigning roles in particular gives insight, and measuring the frequency of bystander behaviour provides a method to understand the dynamic nature of intergroup conflict, allowing social identity to be incorporated into models of riots.

Despite its pivotal role in the classic theory of turbulent line plumes, there has been no consensus on the value of the entrainment coefficient $\alpha$ suitable for a pure plume. Reported measurements vary by 100 %, from $\alpha =0.1$ to $\alpha =0.2$, hindering the predictive capabilities of plume theory. Following our theoretical developments, measurements of plume entrainment using a new approach and a rigorous assessment of reported values for $\alpha$, we conclude that ${\alpha =0.11\pm 15\,\%}$ should be adopted as the consensus value. Our theoretical framework demonstrates how $\alpha$ is determined from underlying plume measurements, and places an emphasis on the link between measurement uncertainty and uncertainty in $\alpha$. This framework inspired our experimental design, intentionally conceived to precisely determine $\alpha$. From measurements of the plume scalar width and the entrainment velocity outside the plume, we determine that $\alpha =0.108\pm 2\,\%$ ($95\,\%$ confidence interval). Complementing our experiments is an evaluation of the historical data which, after we explain why some reported values of $\alpha$ are erroneous, supports the range $0.095\lesssim \alpha \lesssim 0.13$. The proposed consensus value thus represents both our precisely determined value and the variation in the published data. The significance of a consensus value for $\alpha$ can be summarised as follows: (i) it enhances confidence in the application of plume theory to practical situations and (ii) it permits more detailed comparison of entrainment between pure line plumes and related turbulent flows, including forced and lazy line plumes and wall plumes.

ABSTRACT IMPACT: ReacStick concussion testing and monitoring can serve as a 'vital sign for the brain', allowing for an immediate, objective assessment on the field or at the bedside. This project examines the entrepreneuship process from invention to commercialization. OBJECTIVES/GOALS: ReacStick is the first objective, portable, measure of concussion likelihood and severity and uses simple and complex reaction time testing. We detail the entrepreneurship process from product invention through its current mid-stage (patented, 20+ publications, etc.) to future commercialization for diverse applications. METHODS/STUDY POPULATION: ReacStick was invented in 2010 and underwent extensive testing and validation of the underlying innovations. The regulatory landscape of the product was examined, and 510(k) was found to be the best pathway. Competitive analysis was done examining alternative products and comparing against the current gold standards. A customer discovery process was undertaken, and stakeholders were interviewed for feedback and iteration. Testing and validation were completed with athletes, older adults, and people taking medications. An overview of the necessary commercialization concepts is: market opportunity/monetization, intellectual property considerations, regulatory processes, commercialization plan. RESULTS/ANTICIPATED RESULTS: ReacStick accurately predicts concussion and time to recovery and was patented through UM Tech Transfer in 2010, with 10 years currently remaining on the patent. Through customer discovery processes, athletics was determined to be the most viable first market to enter. Next steps include seeking additional patent protection, capital investors, delivery of minimum viable product followed by iteration and improvement for military, emergency medicine and acute care use. The current remaining timeline involves 12-18 months to commercialization and includes regulatory approval, additional patent protection, collaboration with regulatory consultants, capital fundraising and product production. DISCUSSION/SIGNIFICANCE OF FINDINGS: The research team has gone through a lengthy process toward commercialization of ReacStick. Proof of concept and extensive validation of the underlying technology have been completed and the regulatory process has been mapped. Our experience can serve as a model of many of the steps and challenges that lie on the path from lab to sale to end users.

The National Institute for Health and Care Excellence (NICE) informs us that the first-line treatments for behavioural and psychological symptoms of dementia (BPSD) are non-pharmacological. Although psychotropics used to be the main strategy in the management of behaviours that challenge, there has been an increase in the use of biopsychosocial formulations since 2010, and there are now over a dozen to choose from. However, many are overly focused on obtaining information about the agitation, and less specific about providing details of the actions required to manage the behaviours. The NICE guidelines too fail to provide specific guidance on which non-pharmacological approaches to use. This article argues for giving equal weight to both the collection of meaningful information and the development of ‘informed actions’, because it is the actions that lead to change. The article outlines a management programme providing a framework for the assessment, formulation and treatment of agitation in dementia. The work draws on theory, evidence-based practice and practice-based evidence to provide a model with sufficient structure and flexibility to be useful for clinicians across a range of settings and professional groups.

Given the common view that pre-exercise nutrition/breakfast is important for performance, the present study investigated whether breakfast influences resistance exercise performance via a physiological or psychological effect. Twenty-two resistance-trained, breakfast-consuming men completed three experimental trials, consuming water-only (WAT), or semi-solid breakfasts containing 0 g/kg (PLA) or 1·5 g/kg (CHO) maltodextrin. PLA and CHO meals contained xanthan gum and low-energy flavouring (approximately 122 kJ), and subjects were told both ‘contained energy’. At 2 h post-meal, subjects completed four sets of back squat and bench press to failure at 90 % ten repetition maximum. Blood samples were taken pre-meal, 45 min and 105 min post-meal to measure serum/plasma glucose, insulin, ghrelin, glucagon-like peptide-1 and peptide tyrosine-tyrosine concentrations. Subjective hunger/fullness was also measured. Total back squat repetitions were greater in CHO (44 (sd 10) repetitions) and PLA (43 (sd 10) repetitions) than WAT (38 (sd 10) repetitions; P < 0·001). Total bench press repetitions were similar between trials (WAT 37 (sd 7) repetitions; CHO 39 (sd 7) repetitions; PLA 38 (sd 7) repetitions; P = 0·130). Performance was similar between CHO and PLA trials. Hunger was suppressed and fullness increased similarly in PLA and CHO, relative to WAT (P < 0·001). During CHO, plasma glucose was elevated at 45 min (P < 0·05), whilst serum insulin was elevated (P < 0·05) and plasma ghrelin suppressed at 45 and 105 min (P < 0·05). These results suggest that breakfast/pre-exercise nutrition enhances resistance exercise performance via a psychological effect, although a potential mediating role of hunger cannot be discounted.

Labour standards provisions within the Trade and Sustainable Development (TSD) chapters of EU Free Trade Agreements (FTAs) are presented as a key element of the EU's commitment to a ‘value-based trade agenda’. But criticism of TSD chapters has led the European Commission to commit to improving their implementation and enforcement, creating a critical juncture in the evolution of the EU's trade–labour linkage. This contribution synthesizes findings from academic studies that have examined the effectiveness of labour standards provisions in EU FTAs. It then considers the reform agenda as presented by the European Commission, and explains how some of the proposals could tackle failures identified. However, it also argues that there are various limitations with the Commission's current proposals, and outlines how legal obligations and institutional mechanisms created by trade agreements could better be harnessed to improve working conditions and rights at work around the world.