51,118 research outputs found
Tpz1TPP1 SUMOylation reveals evolutionary conservation of SUMO-dependent Stn1 telomere association
Elongation of the telomeric overhang by telomerase is counteracted by synthesis of the complementary strand by the CST complex, CTC1(Cdc13)/Stn1/Ten1. Interaction of budding yeast Stn1 with overhang-binding Cdc13 is increased by Cdc13
SUMOylation. Human and fission yeast CST instead interact with overhang-binding TPP1/POT1. We show that the fission yeast TPP1 ortholog, Tpz1, is SUMOylated. Tpz1 SUMOylation restricts telomere elongation and promotes Stn1/Ten1 telomere association,and a SUMO-Tpz1 fusion protein has increased affinity for Stn1. Our data suggest that SUMO inhibits telomerase through stimulation of Stn1/Ten1 action by Tpz1, highlighting the evolutionary conservation of the regulation of CST function by SUMOylation
The overhang hangover
The authors revisit the debt overhang question. They first use nonparametric techniques to isolate a panel of countries on the downward sloping section of a debt Laffer Curve. In particular, overhang countries are ones where a threshold level of debt is reached in sample, beyond which (initial) debt ends up lowering (subsequent) growth. On average, significantly negative coefficients appear when debt face value reaches 60 percent of GDP or 200 percent of exports, and when its present value reaches 40 percent of GDP or 140 percent of exports. Second, the authors depart from reduced form growth regressions and perform direct tests of the theory on the thus selected sample of overhang countries. In the spirit of event studies, they ask whether, as the overhang level of debt is reached: (1) investment falls precipitously as it should when it becomes optimal to default; (2) economic policy deteriorates observably, as it should when debt contracts become unable to elicit effort on the part of the debtor; and (3) the terms of borrowing worsen noticeably, as they should when it becomes optimal for creditors to preempt default and exact punitive interest rates. The authors find a systematic response of investment, particularly when property rights are weakly enforced, some worsening of the policy environment, and a fall in interest rates. This easing of borrowing conditions happens because lending by the private sector virtually disappears in overhang situations, and multilateral agencies step in with concessional rates. Thus, while debt relief is likely to improve economic policy (and especially investment) in overhang countries, it is doubtful that it would ease their terms of borrowing or the burden of debt.
HIPC Debt Relief and Policy Reform Incentives
Debt overhang, incentives, Social expenditure, Investment
Investment, Fiscal Policy, and Capital Overhang
macroeconomics, Investment, Fiscal Policy, Capital Overhang
Home owning motivation in Malaysia
The residential property industry, which had grown rapidly in the 1980s, however, encountered overhang problems recently. Overhang of residential units has been getting worse and therefore, precautionary measures must be taken by the housing developers before it leads to a property glut. In order to address property overhang in the country, housing developers must recognize the importance of orienting their activities to consider how and why households are motivated to home owning. Factor analysis of the 25 questions was used to support the grouping of these questions into a smaller number of factors. Factors were used as constructs of the motivation of homeownership. The results conclude that Malaysian householders are motivated to become homeowners because they expect home owning will improve the home environment in which a child lives, improve neighborhood stability through higher properties maintenance and improvement, and longer tenure, and improve social capital and local amenities investments in the neighborhood. The motivation of home owning is crucial to housing developers as they have to be cautious before undertaking any new project. Housing developers should know what the market really wants and plan their products to take cognizance of the changing lifestyles of MalaysiansMotivation, Property overhang, Home owning, Housing provision, Malaysia
A Theory of Debt Overhang and Buyback
sovereign debt, sovereign default, debt overhang, buyback
Controlling root flies with exclusion fences?
Protecting crops with insect fences is currently being considered as an alternative to row cover netting and synthetic insecticides. Previous studies reported efficacies of such fences with 50-90 % reduction in crop damage by root flies. We conducted trials with a 1.70 m fence over two years to monitor carrot rust fly (Psila rosae) in carrots and cabbage root fly (Delia radicum) in radish. There was a significant reduction in cabbage root fly damage in fenced plots whereas no such effect could be found with carrot rust fly. The structure of the overhang at the top of the fence and the mobility of this particular species may be important elements to consider in fence design. The length of the overhang also seemed to be important for cabbage root fly (Delia radicum) control, as a statistically significant treatment effect was observed only when the overhang was 35 cm long. Using radish as a test crop, the fences reduced damage by 55 % in the second year of the trial. The population size of overwintering cabbage root flies was also an important factor, as the number of flies in the year that the fence was effective was lower than in the previous year
Resource Curse or Debt Overhang?
It has been widely believed that resource abundant economies grow less than other economies. In a very influential paper, Sachs and Warner (1997), point out that there is a negative relationship between resource abundance and growth. Two important econometric problems are present in the traditional empirical literature: First, the result might depend on factors that are correlated with primary exports but that have been excluded from the regression. Second, total GDP includes the production in the resource sector that has been declining in the last 30 years. We correct for those issues. Our results indicate that the so called 'Natural Resource Curse' might be related to a debt overhang. In the 70's when commodities' prices were high, natural resource abundant countries used them as collateral for debt. The 80's witnessed an important fall in the prices that drove these countries to debt crises. When we estimate the model taking these into account, we found that the effect of resource abundance disappears.
The role of investment, fundamental Q and financing frictions in agricultural investment decisions: an analysis pre and post financial crisis
JEL classifcation: G31, G32, F34This paper uses a fundamental Q model of investment to consider the role played
by nancing frictions in agricultural investment decisions, controlling econometrically for
censoring, heterogeneity and errors-in-variables. Our ndings suggest that farmer's in-
vestment decisions are not driven by market fundamentals. We nd some evidence that
debt overhang restricts investment but investment is not dependent on liquidity or internal
funds. The role of nancing frictions in determining investment decisions changes in the
post- nancial crisis period when debt overhang becomes a signi cant impediment to farm
investment. The evidence suggests that farmers increasingly rely on internal liquidity to
drive investment. Finally, we nd no evidence that farmers use o -farm capital to fund
on-farm investment.Teagasc Walsh Fellowship Programm
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