Determinants of The Application of Macro Prudential Instruments

The use of macro prudential instruments today gives rise to a major debate within the walls of central banks and other authorities in charge of financial stability. Contrary to micro prudential instruments, whose effects remain limited, macro prudential instruments are different in nature and can affect the stability of the financial system. By influencing the financial cycle and the financial structure of financial institutions, the use of such instruments should be conducted with great vigilance as well as macroeconomic and financial expertise. But the experiences of central banks in this area are sketchy, and only some emerging countries have experience using these types of instruments in different ways. This paper presents an analysis of instruments of macro prudential policy and attempts to empirically demonstrate that these instruments should be used only in specific economic and financial situations. Indeed, the results obtained, using modeling bivariate panel, confirm that these instruments are more effective when used to mitigate the euphoria of financial and economic cycles. In this sense, the output gap, describing the economic cycle, and the Z-score are the intermediate variables for the activation of capital instruments. Moreover, the liquidity ratio and changes in bank profitability are the two early warning indicators for activation of liquidity instruments

iTETRIS: An Integrated Wireless and Traffic Platform for Real-Time Road Traffic Management Solutions

Wireless vehicular cooperative systems have been identified as an attractive solution to improve road traffic management, thereby contributing to the European goal of safer, cleaner, and more efficient and sustainable traffic solutions. V2V-V2I communication technologies can improve traffic management through real-time exchange of data among vehicles and with road infrastructure. It is also of great importance to investigate the adequate combination of V2V and V2I technologies to ensure the continuous and costefficient operation of traffic management solutions based on wireless vehicular cooperative solutions. However, to adequately design and optimize these communication protocols and analyze the potential of wireless vehicular cooperative systems to improve road traffic management, adequate testbeds and field operational tests need to be conducted. Despite the potential of Field Operational Tests to get the first insights into the benefits and problems faced in the development of wireless vehicular cooperative systems, there is yet the need to evaluate in the long term and large dimension the true potential benefits of wireless vehicular cooperative systems to improve traffic efficiency. To this aim, iTETRIS is devoted to the development of advanced tools coupling traffic and wireless communication simulators

Partition function of the trigonometric SOS model with reflecting end

We compute the partition function of the trigonometric SOS model with one reflecting end and domain wall type boundary conditions. We show that in this case, instead of a sum of determinants obtained by Rosengren for the SOS model on a square lattice without reflection, the partition function can be represented as a single Izergin determinant. This result is crucial for the study of the Bethe vectors of the spin chains with non-diagonal boundary terms.Comment: 13 pages, improved versio

Drinfeld twist and symmetric Bethe vectors of the open XYZ chain with non-diagonal boundary terms

With the help of the Drinfeld twist or factorizing F-matrix for the eight-vertex solid-on-solid (SOS) model, we find that in the F-basis provided by the twist the two sets of pseudo-particle creation operators simultaneously take completely symmetric and polarization free form. This allows us to obtain the explicit and completely symmetric expressions of the two sets of Bethe states of the model.Comment: Latex file, 25 page

Entropic phase separation of linked beads

We study theoretically a model system of a transient network of microemulsion droplets connected by telechelic polymers and explain recent experimental findings. Despite the absence of any specific interactions between either the droplets or polymer chains, we predict that as the number of polymers per drop is increased, the system undergoes a first order phase separation into a dense, highly connected phase, in equilibrium with dilute droplets, decorated by polymer loops. The phase transition is purely entropic and is driven by the interplay between the translational entropy of the drops and the configurational entropy of the polymer connections between them. Because it is dominated by entropic effects, the phase separation mechanism of the system is extremely robust and does not depend on the particlular physical realization of the network. The discussed model applies as well to other polymer linked particle aggregates, such as nano-particles connected with short DNA linkers

Transcriptome changes in Hirschfeldia incana in response to lead exposure

Hirschfeldia incana, a pseudometallophyte belonging to the Brassicaceae family and widespread in the Mediterranean region, was selected for its ability to grow on soils contaminated by lead (Pb). The global comparison of gene expression using microarrays between a plant susceptible to Pb (Arabidopsis thaliana) and a Pb tolerant plant (H. incana) enabled the identification of a set of specific genes expressed in response to lead exposure. Three groups of genes were particularly over-represented by the Pb exposure in the biological processes categorized as photosynthesis, cell wall, and metal handling. Each of these gene groups was shown to be directly involved in tolerance or in protection mechanisms to the phytotoxicity associated with Pb. Among these genes, we demonstrated that MT2b, a metallothionein gene, was involved in lead accumulation, confirming the important role of metallothioneins in the accumulation and the distribution of Pb in leaves. On the other hand, several genes involved in biosynthesis of ABA were shown to be up regulated in the roots and shoots of H. incana treated with Pb, suggesting that ABA-mediated signaling is a possible mechanism in response to Pb treatment in H. incana. This latest finding is an important research direction for future studies

Effects of a Composite Endomycorrhizal Inoculum on Olive Cuttings under the Greenhouse Conditions

This study was carried out in a nursery to evaluate the impact of mycorrhizal fungi on the cutting's root growth, and root colonization of a Moroccan olive variety ‘Picholine Marocaine' under greenhouse conditions during 2 years of cultivation. The results revealed that the inoculation with a composite inoculum of arbuscular mycorrhizal fungi (AMF) stimulated an early root formation and high development of vegetative shoots in inoculated cuttings respectively, 35 days (50 days in the control plots) and 40 days (60 days in the control plots) after their culture. The progressive establishment of mycorrhizal symbiosis in the roots of the inoculated plants showed that the root and vegetative masses were respectively 24 g and 19.5 g two years after inoculation. The average height and the leave's number of the inoculated plants relative to the control were respectively s 42/ 12 cm and 145/12. The newly formed roots were mycorrhizal and present different structures characteristic of AMF: arbuscules, vesicles, hyphae and spores, whose frequency and intensity reached 90% and 75% two years after cuttings cultivation. The arbuscular and vesicular contents and the number of spores were 67%, 96% and 212 spores/ 100 g of soil respectively. The fourteen species of mycorrhizal fungi isolated from the rhizosphere belong to 4 genera (Glomus, Acaulospora, Gigaspora, and Scutellospora) and three families (Glomaceae, Acaulosporaceae and Gigasporacea).The Glomus genus was the most dominant (65%) followed by the Gigaspora genus (22%). Glomus intraradices, Gigaspora sp.2, Glomus versiformes are the most abundant species, their frequency of occurrence are respectively 30%, 21% and 16%

Non-diagonal open spin-1/2 XXZ quantum chains by separation of variables: Complete spectrum and matrix elements of some quasi-local operators

The integrable quantum models, associated to the transfer matrices of the 6-vertex reflection algebra for spin 1/2 representations, are studied in this paper. In the framework of Sklyanin's quantum separation of variables (SOV), we provide the complete characterization of the eigenvalues and eigenstates of the transfer matrix and the proof of the simplicity of the transfer matrix spectrum. Moreover, we use these integrable quantum models as further key examples for which to develop a method in the SOV framework to compute matrix elements of local operators. This method has been introduced first in [1] and then used also in [2], it is based on the resolution of the quantum inverse problem (i.e. the reconstruction of all local operators in terms of the quantum separate variables) plus the computation of the action of separate covectors on separate vectors. In particular, for these integrable quantum models, which in the homogeneous limit reproduce the open spin-1/2 XXZ quantum chains with non-diagonal boundary conditions, we have obtained the SOV-reconstructions for a class of quasi-local operators and determinant formulae for the covector-vector actions. As consequence of these findings we provide one determinant formulae for the matrix elements of this class of reconstructed quasi-local operators on transfer matrix eigenstates.Comment: 40 pages. Minor modifications in the text and some notations and some more reference adde

5-hydroxytryptamine (5-HT) cellular sequestration during chronic exposure delays 5-HT₃ receptor resensitization due to Its subsequent release

The serotonergic synapse is dynamically regulated by serotonin (5-hydroxytryptamine (5-HT)) with elevated levels leading to the down-regulation of the serotonin transporter and a variety of 5-HT receptors, including the 5-HT type-3 (5-HT(3)) receptors. We report that recombinantly expressed 5-HT(3) receptor binding sites are reduced by chronic exposure to 5-HT (IC(50) of 154.0 ± 45.7 μm, t(½) = 28.6 min). This is confirmed for 5-HT(3) receptor-induced contractions in the guinea pig ileum, which are down-regulated after chronic, but not acute, exposure to 5-HT. The loss of receptor function does not involve endocytosis, and surface receptor levels are unaltered. The rate and extent of down-regulation is potentiated by serotonin transporter function (IC(50) of 2.3 ± 1.0 μm, t(½) = 3.4 min). Interestingly, the level of 5-HT uptake correlates with the extent of down-regulation. Using TX-114 extraction, we find that accumulated 5-HT remains soluble and not membrane-bound. This cytoplasmically sequestered 5-HT is readily releasable from both COS-7 cells and the guinea pig ileum. Moreover, the 5-HT level released is sufficient to prevent recovery from receptor desensitization in the guinea pig ileum. Together, these findings suggest the existence of a novel mechanism of down-regulation where the chronic release of sequestered 5-HT prolongs receptor desensitization