Public debt sustainability and crises in emerging market countries: a presentation of the concepts and diagnostic tools.

The growth of public debt in emerging market countries during the 1990s and recent financial crises have once again highlighted the risks associated with fragile public finances in these countries. The debt restructurings of the 1980s resulted from excessive debt vis-à-vis international banks. The 1990s saw a strong surge in financing on bond markets, which also brought risks with it and contributed to changing the nature and pattern of sovereign debt crises. The 1990s were marked by crises in investor confidence leading to sudden reversals in capital flows and sharp exchange rate movements, in turn sparking contagion phenomena between different economic sectors and countries. In this context, the government has a crucial role to play in limiting the impact of the drop in revenue. When public finances are fragile, doubts about the government’s ability to meet the financial cost of its intervention can contribute to prolonging the crisis or to triggering unsustainable debt dynamics. Emerging market countries that are heavily indebted in foreign currencies and subject to intermittent access to financial markets are particularly vulnerable to changes in international investor sentiment. Against this backdrop, the formulation of diagnoses making it possible to identify the risks weighing on public finances in emerging market countries is an important issue for the international community. In the light of recent experience, over the past few years the IMF has developed an analytical framework that should contribute to better account being taken of potential vulnerabilities in this area. This article begins by recalling that the rise in public debt in emerging market countries has gone hand in hand with the growth in debt financing and that “capital account crises” have had a significant impact on public finances. It reviews the traditional analysis of debt sustainability and the factors that may explain the instability of debt dynamics in emerging market countries. Lastly, it presents the methods for debt sustainability analysis used by the IMF and the difficulties involved in making diagnoses.

Le comportement d’épargne des ménages en 2010.

Les ménages français ont, comme leurs homologues européens, réduit leur effort d’épargne au bénéfice de leur consommation. Leurs choix de placements se sont orientés vers les produits bancaires liquides au détriment de l’assurance-vie.Épargne, épargne financière, taux d’épargne, ménages français, placements, dépôts, plans d’épargne logement, livret A, actions, titres d’OPCVM, assurance-vie, titres de créance, immobilier, investissement, inflation, consommation.

La destination finale des placements financiers des ménages français.

Les ménages français ont modifié la structure de leurs portefeuilles au cours des quinze dernières années au profit des contrats d’assurance-vie. Ils investissent une part croissante de leur épargne à l’étranger, via les intermédiaires financiers.Ménages, patrimoine financier, épargne, intermédiation, dépôts, crédits, titres de créance, valeurs mobilières, actions, OPCVM, sociétés d’assurance, profondeur financière, bases de détention de titres.

Les comportements patrimoniaux des ménages en France : évolutions et déterminants entre 2004 et 2010.

À la lumière des informations issues des enquêtes Patrimoine 2004 et 2010 de l’INSEE et des évaluations des comptes nationaux financiers établis par la Banque de France, l’article propose une première analyse des ajustements patrimoniaux des ménages français depuis 2007.épargne, ménages, portefeuilles, immobilier, risques.

Towards a genealogy of migrant struggles and rescue. The memory of solidarity at the Alpine border

This article advances a genealogy of migrant struggles and citizens solidarity practices, with a focus on the French-Italian migrant passage. It contends that scholarship has mainly mobilised a spatial approach to migrant struggles, while the temporality of solidarity and the collective memory of struggles have remained under-theorised. Then, the article moves on by focusing on the French-Italian Alpine border and it analyses the longstanding history of migrants’ passages there and, jointly, the mobilisations that took place in that area over the last decades exploring how these sedimented a citizen collective memory of solidarity practices. The final section deals with the history of mountain rescue at the French-Italian Alpine border and shows how migrants were saved by volunteers. The piece concludes by arguing that an insight into the memory of migrant struggles and solidarity practices enables foregrounding the transversal alliances which have been built between migrants and citizens and unsettling binary opposition between the former and the latter

Identification of recognition residues for ligation-based detection and quantitation of pseudouridine and N6-methyladenosine

Over 100 chemical types of RNA modifications have been identified in thousands of sites in all three domains of life. Recent data suggest that modifications function synergistically to mediate biological function, and that cells may coordinately modulate modification levels for regulatory purposes. However, this area of RNA biology remains largely unexplored due to the lack of robust, high-throughput methods to quantify the extent of modification at specific sites. Recently, we developed a facile enzymatic ligation-based method for detection and quantitation of methylated 2′-hydroxyl groups within RNA. Here we exploit the principles of molecular recognition and nucleic acid chemistry to establish the experimental parameters for ligation-based detection and quantitation of pseudouridine (Ψ) and N6-methyladenosine (m6A), two abundant modifications in eukaryotic rRNA/tRNA and mRNA, respectively. Detection of pseudouridylation at several sites in the large subunit rRNA derived from yeast demonstrates the feasibility of the approach for analysis of pseudouridylation in biological RNA samples

Less Can Be More: RNA-Adapters May Enhance Coding Capacity of Replicators

It is still not clear how prebiotic replicators evolved towards the complexity found in present day organisms. Within the most realistic scenario for prebiotic evolution, known as the RNA world hypothesis, such complexity has arisen from replicators consisting solely of RNA. Within contemporary life, remarkably many RNAs are involved in modifying other RNAs. In hindsight, such RNA-RNA modification might have helped in alleviating the limits of complexity posed by the information threshold for RNA-only replicators. Here we study the possible role of such self-modification in early evolution, by modeling the evolution of protocells as evolving replicators, which have the opportunity to incorporate these mechanisms as a molecular tool. Evolution is studied towards a set of 25 arbitrary ‘functional’ structures, while avoiding all other (misfolded) structures, which are considered to be toxic and increase the death-rate of a protocell. The modeled protocells contain a genotype of different RNA-sequences while their phenotype is the ensemble of secondary structures they can potentially produce from these RNA-sequences. One of the secondary structures explicitly codes for a simple sequence-modification tool. This ‘RNA-adapter’ can block certain positions on other RNA-sequences through antisense base-pairing. The altered sequence can produce an alternative secondary structure, which may or may not be functional. We show that the modifying potential of interacting RNA-sequences enables these protocells to evolve high fitness under high mutation rates. Moreover, our model shows that because of toxicity of misfolded molecules, redundant coding impedes the evolution of self-modification machinery, in effect restraining the evolvability of coding structures. Hence, high mutation rates can actually promote the evolution of complex coding structures by reducing redundant coding. Protocells can successfully use RNA-adapters to modify their genotype-phenotype mapping in order to enhance the coding capacity of their genome and fit more information on smaller sized genomes

Digital Genome-Wide ncRNA Expression, Including SnoRNAs, across 11 Human Tissues Using PolyA-Neutral Amplification

Non-coding RNAs (ncRNAs) are an essential class of molecular species that have been difficult to monitor on high throughput platforms due to frequent lack of polyadenylation. Using a polyadenylation-neutral amplification protocol and next-generation sequencing, we explore ncRNA expression in eleven human tissues. ncRNAs 7SL, U2, 7SK, and HBII-52 are expressed at levels far exceeding mRNAs. C/D and H/ACA box snoRNAs are associated with rRNA methylation and pseudouridylation, respectively: spleen expresses both, hypothalamus expresses mainly C/D box snoRNAs, and testes show enriched expression of both H/ACA box snoRNAs and RNA telomerase TERC. Within the snoRNA 14q cluster, 14q(I-6) is expressed at much higher levels than other cluster members. More reads align to mitochondrial than nuclear tRNAs. Many lincRNAs are actively transcribed, particularly those overlapping known ncRNAs. Within the Prader-Willi syndrome loci, the snoRNA HBII-85 (group I) cluster is highly expressed in hypothalamus, greater than in other tissues and greater than group II or III. Additionally, within the disease locus we find novel transcription across a 400,000 nt span in ovaries. This genome-wide polyA-neutral expression compendium demonstrates the richness of ncRNA expression, their high expression patterns, their function-specific expression patterns, and is publicly available

Characterization of RNase MRP RNA and novel snoRNAs from Giardia intestinalis and Trichomonas vaginalis

<p>Abstract</p> <p>Background</p> <p>Eukaryotic cells possess a complex network of RNA machineries which function in RNA-processing and cellular regulation which includes transcription, translation, silencing, editing and epigenetic control. Studies of model organisms have shown that many ncRNAs of the RNA-infrastructure are highly conserved, but little is known from non-model protists. In this study we have conducted a genome-scale survey of medium-length ncRNAs from the protozoan parasites <it>Giardia intestinalis </it>and <it>Trichomonas vaginalis</it>.</p> <p>Results</p> <p>We have identified the previously 'missing' <it>Giardia </it>RNase MRP RNA, which is a key ribozyme involved in pre-rRNA processing. We have also uncovered 18 new H/ACA box snoRNAs, expanding our knowledge of the H/ACA family of snoRNAs.</p> <p>Conclusions</p> <p>Results indicate that <it>Giardia intestinalis </it>and <it>Trichomonas vaginalis</it>, like their distant multicellular relatives, contain a rich infrastructure of RNA-based processing. From here we can investigate the evolution of RNA processing networks in eukaryotes.</p

Autism genetic database (AGD): a comprehensive database including autism susceptibility gene-CNVs integrated with known noncoding RNAs and fragile sites

<p>Abstract</p> <p>Background</p> <p>Autism is a highly heritable complex neurodevelopmental disorder, therefore identifying its genetic basis has been challenging. To date, numerous susceptibility genes and chromosomal abnormalities have been reported in association with autism, but most discoveries either fail to be replicated or account for a small effect. Thus, in most cases the underlying causative genetic mechanisms are not fully understood. In the present work, the Autism Genetic Database (AGD) was developed as a literature-driven, web-based, and easy to access database designed with the aim of creating a comprehensive repository for all the currently reported genes and genomic copy number variations (CNVs) associated with autism in order to further facilitate the assessment of these autism susceptibility genetic factors.</p> <p>Description</p> <p>AGD is a relational database that organizes data resulting from exhaustive literature searches for reported susceptibility genes and CNVs associated with autism. Furthermore, genomic information about human fragile sites and noncoding RNAs was also downloaded and parsed from miRBase, snoRNA-LBME-db, piRNABank, and the MIT/ICBP siRNA database. A web client genome browser enables viewing of the features while a web client query tool provides access to more specific information for the features. When applicable, links to external databases including GenBank, PubMed, miRBase, snoRNA-LBME-db, piRNABank, and the MIT siRNA database are provided.</p> <p>Conclusion</p> <p>AGD comprises a comprehensive list of susceptibility genes and copy number variations reported to-date in association with autism, as well as all known human noncoding RNA genes and fragile sites. Such a unique and inclusive autism genetic database will facilitate the evaluation of autism susceptibility factors in relation to known human noncoding RNAs and fragile sites, impacting on human diseases. As a result, this new autism database offers a valuable tool for the research community to evaluate genetic findings for this complex multifactorial disorder in an integrated format. AGD provides a genome browser and a web based query client for conveniently selecting features of interest. Access to AGD is freely available at <url>http://wren.bcf.ku.edu/</url>.</p