Monetary policy transmission in the euro area: What do aggregate and national structural models tell us?

This paper analyses the monetary transmission mechanism in the euro area through the use of large scale macroeconomic models at the disposal of the European Central Bank and the National Central Banks of the Eurosystem. The results reported are based on a carefully designed common simulation experiment involving a 100 basis point rise in the policy interest rate for two years accompanied by common assumptions regarding the path of long-term interest rates and the exchange rate. Aggregating the country level results, the fall in output is found to reach a maximum of 0.4% after 2 years. The maximum aggregate fall in prices is also 0.4%, but it occurs 2 years later. The dominant channel of transmission in the first two years is the exchange rate channel, but in terms of the impact on output, the user cost of capital channel becomes dominant from the third year of the simulation onwards JEL Classification: C50, E17, E5macroeconomic models, Monetary policy transmission mechanism

BASEL III: Long-term impact on economic performance and fluctuations

We assess the long-term economic impact of the new regulatory standards (the Basel III reform), answering the following questions. (1) What is the impact of the reform on long-term economic performance? (2) What is the impact of the reform on economic fluctuations? (3) What is the impact of the adoption of countercyclical capital buffers on economic fluctuations? The main results are the following. (1) Each percentage point increase in the capital ratio causes a median 0.09 percent decline in the level of steady state output, relative to the baseline. The impact of the new liquidity regulation is of a similar order of magnitude, at 0.08 percent. This paper does not estimate the benefits of the new regulation in terms of reduced frequency and severity of financial crisis, analysed in Basel Committee on Banking Supervision (BCBS, 2010b). (2) The reform should dampen output volatility; the magnitude of the effect is heterogeneous across models; the median effect is modest. (3) The adoption of countercyclical capital buffers could have a more sizeable dampening effect on output volatility. These conclusions are fully consistent with those of the reports by the Long-term Economic Impact group (BCBS, 2010b) and Macro Assessment Group (MAG, 2010b).Basel III, countercyclical capital buffers, financial (in)stability, procyclicality, macroprudential policy.

Monetary policy transmission in the euro area: What do aggregate and national structural models tell us?

This paper analyses the monetary transmission mechanism in the euro area through the use of large scale macroeconomic models at the disposal of the European Central Bank and the National Central Banks of the Eurosystem. The results reported are based on a carefully designed common simulation experiment involving a 100 basis point rise in the policy interest rate for two years accompanied by common assumptions regarding the path of long-term interest rates and the exchange rate. Aggregating the country level results, the fall in output is found to reach a maximum of 0.4% after 2 years. The maximum aggregate fall in prices is also 0.4%, but it occurs 2 years later. The dominant channel of transmission in the first two years is the exchange rate channel, but in terms of the impact on output, the user cost of capital channel becomes dominant from the third year of the simulation onward

Development of a molecular technique for microsatellite instability for use in colon cancer

El Cáncer Colorrectal (CCR) es la segun-da causa de muerte por cáncer en Argentina, con más de 11.000 nuevos casos por año. Entre el 3 y el 8% de los casos son producidos por mutaciones heredables. El síndrome más común es el Síndrome de Lynch o Cán-cer Colorrectal Hereditario no Polipósico (CCHNP). Los pacientes afectados tienen un riesgo superior al 80% de desarrollar cáncer de colon y en mujeres, el riesgo de cáncer de endometrio es de 60%. También se encuentra incrementado el riesgo de padecer cáncer de estómago, ovario, intestino delgado, vías biliares y riñón. La patogé-nesis del CCHNP se relaciona con fallas en el sistema de reparación del ADN que lleva a la acumulación de muta-ciones de nucleótido único y cambios en la longitud de secuencias repetitivas, fenómeno conocido como Inesta-bilidad de Microsatélites (MSI). Alta Inestabilidad de mi-crosatélites (MSI-High) se presenta en más del 85% de casos de CCHNP. Además, puede detectarse en el 10-15% de los casos de CCR no asociados a CCHNP debido a metilación de los genes de las enzimas de reparación del ADN. Los tumores colorrectales con MSI tienen carac-terísticas histológicas definidas, mejor pronóstico que los tumores sin MSI y diferente respuesta a la quimioterapia. El descubrimiento de MSI en CCR ha incrementado el co-nocimiento de la diversidad de los CCR y colabora en el diagnóstico, tratamiento y asesoramiento genético. Objetivo: diseñar una técnica molecular para el análisis de MSI de bajo costo y adecuar los algoritmos para me-jorar el diagnóstico de Síndrome de Lynch en la región

MosChito rafts as effective and eco-friendly tool for the delivery of a Bacillus thuringiensis-based insecticide to Aedes albopictus larvae

Adult mosquito females, through their bites, are responsible for the transmission of different zoonotic pathogens. Although adult control represents a pillar for the prevention of disease spread, larval control is also crucial. Herein we characterized the effectiveness of a suitable tool, named "MosChito raft", for the aquatic delivery of a Bacillus thuringiensis var. israelensis (Bti) formulate, a bioinsecticide active by ingestion against mosquito larvae. MosChito raft is a floating tool composed by chitosan cross-linked with genipin in which a Bti-based formulate and an attractant have been included. MosChito rafts (i) resulted attractive for the larvae of the Asian tiger mosquito Aedes albopictus, (ii) induced larval mortality within a few hours of exposure and, more importantly, (iii) protected the Bti-based formulate, whose insecticidal activity was maintained for more than one month in comparison to the few days residual activity of the commercial product. The delivery method was effective in both laboratory and semi-field conditions, demonstrating that MosChito rafts may represent an original, eco-based and user-friendly solution for larval control in domestic and peri-domestic aquatic habitats such as saucers and artificial containers in residential or urban environments

Packham's Triumph Pears (Pyrus communis L.) Post-Harvest Treatment during Cold Storage Based on Chitosan and Rue Essential Oil

Pears (Pyrus communis L.) cv. Packham's Triumph are very traditional for human consumption, but pear is a highly perishable climacteric fruit with a short shelf-life affected by several diseases with a microbial origin. In this study, a protective effect on the quality properties of pears was evidenced after the surface application of chitosan-Ruta graveolens essential oil coatings (CS + RGEO) in four different concentrations (0, 0.5, 1.0 and 1.5 %, v/v) during 21 days of storage under 18 °C. After 21 days of treatment, a weight loss reduction of 10% (from 40.2 ± 5.3 to 20.3 ± 3.9) compared to the uncoated pears was evident with CS + RGEO 0.5%. All the fruits' physical-chemical properties evidenced a protective effect of the coatings. The maturity index increased for all the treatments. However, the pears with CS + RGEO 1.5% were lower (70.21) than the uncoated fruits (98.96). The loss of firmness for the uncoated samples was higher compared to the coated samples. The pears' most excellent mechanical resistance was obtained with CS + RGEO 0.5% after 21 days of storage, both for compression resistance (7.42 kPa) and force (22.7 N). Microbiological studies demonstrated the protective power of the coatings. Aerobic mesophilic bacteria and molds were significantly reduced (in 3 Log CFU/g compared to control) using 15 µL/mL of RGEO, without affecting consumer perception. The results presented in this study showed that CS + RGEO coatings are promising in the post-harvest treatment of pears

Influencia del síndrome metabólico en el cáncer de próstata

El cáncer de próstata (CaP) es la segunda causa de muerte por enfermedades neoplásicas en los hombres mayores de 50 años. En él podría influir el Síndrome Metábolico (SM), el cual se caracteriza por la presencia de hipertensión arterial, dislipidemia, resistencia insulínica y obesidad central. El objetivo del siguiente trabajo fue estudiar la relación entre CaP y SM en la población mendocina

Asociación entre PSA y RsIL-6

Estudios recientes describen la intervención de la IL-6 en la fisiopatología del cáncer de próstata (CaP). Siendo esta patología de elevada incidencia en la población de edad avanzada, es relevante el conocimiento de los factores que intervienen en su desarrollo. El antígeno prostático específico (PSA) constituye el marcador tumoral de elección para screening y seguimiento del CaP. Por su parte, los niveles séricos de Receptor soluble de IL-6 (RsIL-6) serían indicativos del estado inflamatorio del paciente. El objetivo del trabajo fue estudiar la relación entre RsIL-6 y PSA en pacientes con y sin CaP de la población mendocina