The role of intra-day volatility pattern in jump detection: empirical evidence on how financial markets respond to macroeconomic news announcements

This paper examines the effect of adjusting for the intra-day volatility pattern on jump detection. Using tests that identify the intra-day timing of jumps, we show that before the adjustment, jumps in the financial market have high probability of occurring concurrently with pre-scheduled economy-wide news announcements. We demonstrate that adjustment for the U-shaped volatility pattern prior to jump detection effectively removes most of the association between jumps and macroeconomic news announcements. We find empirical evidence that only news that comes with large surprise can cause jumps in the market index after the volatility adjustment, while the effect of other types of news is largely absorbed through the continuous volatility channel. The FOMC meeting announcement is shown to have the highest association with jumps in the market both before and after the adjustment

Forecasting Under Strucural Break Uncertainty

This paper proposes two new weighting schemes that average forecasts using different estimation windows to account for structural change. We let the weights reflect the probability of each time point being the most-recent break point, and we use the reversed ordered Cusum test statistics to capture this intuition. The second weighting method simply imposes heavier weights on those forecasts that use more recent information. The proposed combination forecasts are evaluated using Monte Carlo techniques, and we compare them with forecasts based on other methods that try to account for structural change, including average forecasts weighted by past forecasting performance and techniques that first estimate a break point and then forecast using the post break data. Simulation results show that our proposed weighting methods often outperform the others in the presence of structural breaks. An empirical application based on a NAIRU Phillips curve model for the United States indicates that it is possible to outperform the random walk forecasting model when we employ forecasting methods that account for break uncertainty

Data_Sheet_1_Drought, Salinity, and Low Nitrogen Differentially Affect the Growth and Nitrogen Metabolism of Sophora japonica (L.) in a Semi-Hydroponic Phenotyping Platform.ZIP

Abiotic stresses, such as salinity, drought, and nutrient deficiency adversely affect nitrogen (N) uptake and assimilation in plants. However, the regulation of N metabolism and N pathway genes in Sophora japonica under abiotic stresses is unclear. Sophora japonica seedlings were subjected to drought (5% polyethylene glycol 6,000), salinity (75mM NaCl), or low N (0.01mM NH4NO3) for 3weeks in a semi-hydroponic phenotyping platform. Salinity and low N negatively affected plant growth, while drought promoted root growth and inhibited aboveground growth. The NH4+/NO3− ratio increased under all three treatments with the exception of a reduction in leaves under salinity. Drought significantly increased leaf NO2− concentrations. Nitrate reductase (NR) activity was unaltered or increased under stresses with the exception of a reduction in leaves under salinity. Drought enhanced ammonium assimilation with increased glutamate synthase (GOGAT) activity, although glutamine synthetase (GS) activity remained unchanged, whereas salinity and low N inhibited ammonium assimilation with decreased GS activity under salt stress and decreased GOGAT activity under low N treatment. Glutamate dehydrogenase (GDH) activity also changed dramatically under different stresses. Additionally, expression changes of genes involved in N reduction and assimilation were generally consistent with related enzyme activities. In roots, ammonium transporters, especially SjAMT1.1 and SjAMT2.1a, showed higher transcription under all three stresses; however, most nitrate transporters (NRTs) were upregulated under salinity but unchanged under drought. SjNRT2.4, SjNRT2.5, and SjNRT3.1 were highly induced by low N. These results indicate that N uptake and metabolism processes respond differently to drought, salinity, and low N conditions in S. japonica seedlings, possibly playing key roles in plant resistance to environmental stress.</p

Practice Patterns in Orbital Decompression Surgery Among American Society of Ophthalmic Plastic and Reconstructive Surgery Members

Article full text The article associated with this page has been accepted for online publication and is in the final stages of production. The link to the full text will be made available on this page in the next few days Provide enhanced digital features for this article If you are an author of this publication and would like to provide additional enhanced digital features for your article then please contact [email protected]. The journal offers a range of additional features designed to increase visibility and readership. All features will be thoroughly peer reviewed to ensure the content is of the highest scientific standard and all features are marked as ‘peer reviewed’ to ensure readers are aware that the content has been reviewed to the same level as the articles they are being presented alongside. Moreover, all sponsorship and disclosure information is included to provide complete transparency and adherence to good publication practices. This ensures that however the content is reached the reader has a full understanding of its origin. No fees are charged for hosting additional open access content. Other enhanced features include, but are not limited to: • Slide decks • Videos and animations • Audio abstracts • Audio slides</p

Additional file 1 of Parenting style and child mental health at preschool age: evidence from rural China

Supplementary Material 1: Additional file 1 of cutoofs of the three sub-categories for the SDQ subscale

Nanostructured Carbon Nitride Polymer-Reinforced Electrolyte To Enable Dendrite-Suppressed Lithium Metal Batteries

Lithium metal batteries (LMBs) containing S, O₂, and fluoride cathodes are attracting increasing attention owing to their much higher energy density than that of Li-ion batteries. However, current limitation for the progress of LMBs mainly comes from the uncontrolled formation and growth of Li dendrites at the anode side. In order to suppress dendrite growth, exploring novel nanostructured electrolyte of high modulus without degradation of Li–electrolyte interface appears to be a potential solution. Here we propose a lightweight polymer-reinforced electrolyte based on graphitic carbon nitride (g-C₃N₄) mesoporous microspheres as electrolyte filler [bis­(trifluoromethanesulfonimide) lithium salt/di­(ethylene glycol) dimethyl ether mixed with g-C₃N₄, denoted as LiTFSI-DGM-C₃N₄] for the first time. This nanostructured electrolyte can effectively suppress lithium dendrite growth during cycling, benefiting from the high mechanical strength and nanosheet-built hierarchical structure of g-C₃N₄. The Li/Li symmetrical cell based on this slurrylike electrolyte enables long-term cycling of at least 120 cycles with a high capacity of 6 mA·h/cm² and small plating/stripping overpotential of ∼100 mV at a high current density of 2 mA/cm². g-C₃N₄ filling also enables a separator­(Celgard)-free Li/FeS₂ cell with at least 400 cycles. The 3D geometry of g-C₃N₄ shows advantages on interfacial resistance and Li plating/stripping stability compared to its 2D geometry

A Method for Evaluating the Film-Blowing Processability of Biodegradable Materials

Poly(3-hydroxybutyrate-co-3-hydroxyhexanoate) (PHBHHx), an emergent biodegradable polymer, exhibits excellent biodegradability in nature, particularly in seawater. However, the challenge in film-blowing of PHBHHx limits its wide-scale application. More generally, the suitability of biodegradable polymers (such as PHBHHx) for blown film processing has been rarely reported, and the commonly used extensional viscosity test methods are not applicable due to the low melt viscosity of most biodegradable polymers. To overcome these challenges, in this work, a laboratory test method for evaluating the film-blowing processability of biodegradable materials using a small amount of raw materials was established. The key indicators for film-blowing processability were proposed, including the entrance pressure drop in capillary rheology and the tensile stress and strain at break of melt in the DMA test. The generalizability of the key indicators was verified using various commercially available blown film materials, including biodegradable and nonbiodegradable polymers. Based on the key indicators, the optimal formulation of PHBHHx for film-blowing was designed and successfully validated in pilot equipment. Finally, a quantitative relation between material formulation, key indicators, and film-blowing processability was developed to guide the blown film processing and formulation design. Not limited to biodegradable polymers, the method can also be applied to evaluate film-blowing processability of other polymer materials

Exploring space-energy matching via quantum-molecular mechanics modeling and breakage dynamics-energy dissipation via microhydrodynamic modeling to improve the screening efficiency of nanosuspension prepared by wet media milling

Introduction: The preparation of nanosuspensions by wet media milling is a promising technique that increases the bioavailability of insoluble drugs. The nanosuspension is thermodynamically unstable, where its stability might be influenced by the interaction energy between the stabilizers and the drugs after milling at a specific collision energy. However, it is difficult to screen the stabilizers and the parameters of milling accurately and quickly by using traditional analysis methods. Quantum-molecular mechanics and microhydrodynamic modeling can be applied to improve screening efficiency. Areas covered: Quantum-molecular mechanics model, which includes molecular docking, molecular dynamics simulations, and data on binding energy, provides insights into screening stabilizers based on their molecular behavior at the atomic level. The microhydrodynamic model explores the mechanical processes and energy dissipation in nanomilling, and even combines information on the mechanical modulus and an energy vector diagram for the milling parameters screening of drug crystals. Expert opinion: These modeling methods improve screening efficiency and support screening theories based on thermodynamics and physical dynamics. However, how to reasonably combine different modeling methods with their theoretical characteristics and further multidimensional and cross-scale simulations of nanosuspension formation remain challenges.</p

Origin–destination (OD) of the interprovincial floating population of China

<p>China’s large floating population catalyzes economic development, redistributes the population, and promotes social changes to the social structure, lifestyle patterns, and cultural values. The floating population is a unique group faced with numerous problems stemming from cultural and lifestyle differences. Understanding and visualizing the distributional characteristics and patterns of the floating population is crucial for developing effective social policies. In this study, the origin–destination (OD) map and its adjustment destination–origin (DO) map are used to represent the interprovincial floating population. The OD or DO map can be regarded as a two-level spatial treemap representing the floating population recorded by pairs of locations. In accordance with the different hierarchy of the two-level spatial treemap, the OD and DO are distinguished. The migration volume of the floating population data is represented by the OD and DO maps to find the population’s direction of movement, magnitude, and hot-spots. The migration indicators including migration effectiveness, migration preference indexes, and sex ratios are represented by the OD and DO maps, which assist in to reviewing and studying the deep patterns of floating population.</p

Network-scape metric analysis: a new approach for the pattern analysis of urban road networks

The spatial patterns of road networks reflect the morphological and structural characteristics of cities. Previous studies have focused mainly on seeking universal laws in road networks rather than explaining their differences. A new approach for road network pattern analysis is proposed that has been inspired by landscape metric analysis. The utility of this approach is illustrated through (but is not limited to) the extraction of the main factors in network landscapes, or network-scapes for short. Twenty-four metrics were calculated for network-scapes of 100 cities worldwide, before an exploratory analysis is performed to detect the main factors. Four main factors were revealed and may be regarded as the characteristic indicators of road networks, which were identified to be evenness, richness-density, shape irregularity, and size and shape variation. The meanings of these factors are explained, and their spatial distributions are illustrated. Compared to existing road network analytics, these factors depict better the characteristic differences of road networks. The proposed approach provides a new framework for road network pattern analysis from a cellular perspective.</p