The Taylor rule and the practice of central banking

The Taylor rule has revolutionized the way many policymakers at central banks think about monetary policy. It has framed policy actions as a systematic response to incoming information about economic conditions, as opposed to a period-by-period optimization problem. It has emphasized the importance of adjusting policy rates more than one-for-one in response to an increase in inflation. And, various versions of the Taylor rule have been incorporated into macroeconomic models that are used at central banks to understand and forecast the economy. ; This paper examines how the Taylor rule is used as an input in monetary policy deliberations and decision-making at central banks. The paper characterizes the policy environment at the time of the development of the Taylor rule and describes how and why the Taylor rule became integrated into policy discussions and, in some cases, the policy framework itself. Speeches by policymakers and transcripts and minutes of policy meetings are examined to explore the practical uses of the Taylor rule by central bankers. While many issues remain unresolved and views still differ about how the Taylor rule can best be applied in practice, the paper shows that the rule has advanced the practice of central banking.

The Taylor rule and the transformation of monetary policy

This paper examines the intellectual history of the Taylor Rule and its considerable influence on macroeconomic research and monetary policy. The paper traces the historical antecedents to the Taylor rule, emphasizing the contributions of three prominent advocates of rules--Henry Simons, A.W. H. Phillips, and Milton Friedman. The paper then examines the evolution of John Taylor's thinking as an academic and policy advisor leading up to his formulation of the Taylor rule. Finally, the paper documents the influence of the Taylor rule on macroeconomic research and the Federal Reserve's conduct of monetary policy.Taylor's rule ; Taylor, John B. ; Simons, Henry ; Phillips, A.W.H. ; Friedman, Milton ; Monetary policy

Sur la mise en évidence de la tuberculose par le BCG-TEST chez les bovins tuberculeux rendus anergiques par injections répétées de tuberculine

Paraf Alain, Asso J. Sur la mise en évidence de la tuberculose par le BCG-TEST chez les bovins tuberculeux rendus anergiques par injections répétées et tuberculine. In: Bulletin de l'Académie Vétérinaire de France tome 111 n°4, 1958. pp. 183-188

Polymorphic ventricular arrhythmia triggered by temporary epicardial right ventricular stimulation after cardiac surgery

Temporary epicardial pacing is commonly used for rhythmic support in the acute postoperative period after cardiac surgery. Clinical studies suggest that pacing in the left ventricular epicardium during resynchronization therapy may be proarrhythmic in a minority of patients. The epicardial pacing increases transmural heterogeneity of repolarization. This could prolong the QT and JT intervals on the electrocardiogram (ECG), with subsequent proarrhythmic effects. The following case describes polymorphic ventricular arrhythmias after temporary epicardial ventricular stimulation

Place de la securisation dans les dispositifs juridique et institutionnel fonciers Beninois

La performance des instruments juridiques de gouvernance foncière demeure toujours problématique particulièrement dans les pays ouest-africains. Dans ce contexte, le présent article a analysé la place de la sécurisation foncière dans l’arsenal juridique béninois. L’analyse part du postulat que la définition de la sécurisation foncière doit prendre en compte simultanément quatre piliers dont : la propriété/transfert, l’usage ou l’utilisation, l’accessibilité et la conservation des terres. Ainsi, une analyse de contenu des différents instruments juridiques, institutions et acteurs de la gestion foncière au Bénin à travers leurs objectifs et missions a été effectuée. Il ressort que les réformes entreprises dans la gestion foncière ont faiblement pris en compte des aspects de conservation de la terre et de biodiversité. Le cadre juridique et institutionnel mis en oeuvre dans la gestion foncière ne garantit pas la conservation des terres et la biodiversité au Bénin. Cette recherche suggère la prise en compte du pilier conservation dans l’arsenal juridique qui régit le foncier pour une gouvernance responsable des régimes fonciers au Bénin. English title: the place of security in Benin’s legal and institutional arsenal on land tenure systems Abstract The performance of legal instruments for land governance remains problematic, particularly in West African countries. In this context, this article analyzes the place of land tenure security in the Benin legal arsenal. The analysis is based on the assumption that the definition of land tenure security must simultaneously take into account four main elements: ownership/transfer, use or utilization, accessibility and conservation of land. Thus, a content analysis of the different legal instruments (Livre Blanc, laws), institutions and land management agents in Benin was carried out through its objectives and missions. It emerged that the reforms undertaken in land management have shown gaps in terms of taking into account aspects of land conservation and biodiversity in the different laws developed, the missions and objectives of institutions and development projects oriented towards land management in Benin. Thus, the legal and institutional framework implemented in land management does not guarantee the conservation of land and biodiversity in Benin. This research suggests that the conservation aspect should be taken into account in the legal arsenal governing land tenure for responsible governance of land in Benin. Keywords: Land security, land conservation, legal reform, Benin

Culture du virus claveleux sur cellules : application à la vaccination et au contrôle de l'immunité

Dans cette publication sont étudiées quelques propriétés du virus claveleux cultivé sur cellules in vitro: E. C. P., titre, innocuité, pouvoir immunisant, induction d'anticorps sériques spécifique

Molecular heterogeneity of large-conductance calcium-activated potassium channels in canine intracardiac ganglia

Large conductance calcium-activated potassium (BK) channels are widely expressed in the nervous system. We have recently shown that principal neurons from canine intracardiac ganglia (ICG) express a paxilline- and TEA-sensitive BK current, which increases neuronal excitability. In the present work, we further explore the molecular constituents of the BK current in canine ICG. We found that the β1 and β4 regulatory subunits are expressed in ICG. Single channel voltage-dependence at different calcium concentrations suggested that association of the BKα with a particular β subunit was not enough to explain the channel activity in this tissue. Indeed, we detected the presence of several splice variants of the BKα subunit. In conclusion, BK channels in canine ICG may result from the arrangement of different BKα splice variants, plus accessory β subunits. The particular combinations expressed in canine IC neurons likely rule the excitatory role of BK current in this tissue

Effectiveness of exercise interventions on mental health and health-related quality of life in women with polycystic ovary syndrome: a systematic review

Background: Polycystic ovary syndrome (PCOS) is a complex condition, impacting cardio-metabolic and reproductive health, mental health and health-related quality of life. The physical health benefits of exercise for women with PCOS are well-established and exercise is increasingly being recognised as efficacious for improving psychological wellbeing. The aim of this review was to summarise the evidence regarding the effectiveness of exercise interventions on mental health outcomes in women with PCOS. Methods: A systematic search of electronic databases was conducted in March of 2020. Trials that evaluated the effect of an exercise intervention on mental health or health-related quality of life outcomes in reproductive aged women with diagnosed PCOS were included. Methodological quality was assessed using the modified Downs and Black checklist. Primary outcomes included symptoms of depression and anxiety, and health-related quality of life. Results: Fifteen articles from 11 trials were identified and deemed eligible for inclusion. Exercise demonstrated positive improvements in health-related quality of life in all of the included studies. Half of included studies also reported significant improvements in depression and anxiety symptoms. There was large variation in methodological quality of included studies and in the interventions utilised. Conclusions: The available evidence indicates that exercise is effective for improving health-related quality of life and PCOS symptom distress. Exercise also shows some efficacy for improving symptoms and/or prevalence of depression and anxiety in women with PCOS. However, due to large heterogeneity of included studies, conclusions could not be made regarding the impact of exercise intervention characteristics. High-quality trials with well reported exercise intervention characteristics and outcomes are required in order to determine effective exercise protocols for women with PCOS and facilitate translation into practice

Transforming growth factor beta 1 impairs the transcriptomic response to contraction in myotubes from women with polycystic ovary syndrome

First published online 27 June 2022Polycystic ovary syndrome (PCOS) is characterised by a hormonal imbalance affecting the reproductive and metabolic health of reproductive-aged women. Exercise is recommended as a first-line therapy for women with PCOS to improve their overall health; however, women with PCOSare resistant to the metabolic benefits of exercise training. Here, we aimed to gain insight into the mechanisms responsible for such resistance to exercise in PCOS. We employed an in vitro approach with electrical pulse stimulation (EPS) of cultured skeletal muscle cells to explore whether myotubes from women with PCOS have an altered gene expression signature in response to contraction.Following EPS, 4719 genes were differentially expressed (false discovery rate<0.05) in myotubes from women with PCOS compared to 173 in healthy women. Both groups included genes involved in skeletal muscle contraction. We also determined the effect of two transforming growth factorβ(TGFβ) ligands that are elevated in plasma of women with PCOS, TGFβ1 and anti-Müllerianhormone (AMH), alone and on the EPS-induced response. While AMH (30 ng/ml) had no effect,TGFβ1 (5 ng/ml) induced the expression of extracellular matrix genes and impaired the exercise-like transcriptional signature in myotubes from women with and without PCOS in response to EPS by interfering with key processes related to muscle contraction, calcium transport and actin filament.Our findings suggest that while the fundamental gene expression responses of skeletal muscle to contraction is intact in PCOS, circulating factors like TGFβ1 may be responsible for the impaired adaptation to exercise in women with PCOS.Luke C. McIlvenna, Ali Altıntas, Rhiannon K. Patten, Andrew J. McAinch, Raymond J. Rodgers, Nigel K. Stepto, Romain Barrès, and Alba Moreno-Ass