Inflation measure, Taylor rules, and the Greenspan-Bernanke years

Recent research has emphasized that the Federal Reserve under Chairman Alan Greenspan was forward looking, smoothed interest rates, and focused on core inflation. The semiannual monetary policy reports to U.S. Congress indicate that the measure of inflation used in monetary policy deliberations has also been refined over time: For most of the Greenspan period before 2000, inflation forecasts used the consumer price index (CPI), but in the early 2000s, inflation forecasts switched to using the core personal consumption expenditures (PCE) deflator. Using information contained in Greenbook forecasts, this article estimates two forward-looking Taylor rules that differ only with respect to the measure of inflation used over 1987:1-2006:4. A Taylor rule that is estimated using a time-varying measure of core inflation-CPI until 2000 and PCE thereafter-depicts parameter stability in the Greenspan years, and tracks the actual path of the federal funds rate during the subperiod 2000:1–2006:4, when the measure of inflation used changed. In contrast, a Taylor rule that is estimated using headline CPI inflation does not depict such parameter stability, and indicates the actual funds rate was too low relative to the level prescribed during the subperiod 2000:1-2006:4, as headline CPI inflation remained elevated because of the continual rise in oil prices. Moreover, in real time during most of this subperiod, core PCE inflation was much lower than what is indicated by the current vintage data. These results highlight the importance of using real-time information in evaluating historical monetary policy actions.Inflation (Finance) ; Monetary policy

The first evaluation of glucose-6-phospate dehydrogenase defciency (G6PD) gene mutation in malaria endemic region at South Central Timor (SCT) district, Eastern Indonesia 2014–2015

Primaquine (PQ) is a key drug in the malaria pre-elimination stage. However, PQ can trigger acutehemolysis for people with G6PD defciency (G6PDd). In 2013, 15–25 million Indonesian people were infected with malaria, with 30,000–38,000 deaths each year mostly in eastern Indonesia with API= 15.6 %. Recently, the Ministry of Health of the Republic of Indonesia announced a plan to reach the pre-elimination stage based on WHO guidelines. This study assesses whether eastern Indonesia should proceed with the activities of malaria pre-elimination. A total 555 healthy people in fve subdistricts in eastern Indonesia were selected by systematic random samping. All data were collected using a standard questionnaire, physical examination, and laboratory tests. PCR and DNA sequencing protocols followed respective manufacture’s instructions. Statistical analysis by bivariate with α= 0.05 and 95% CI were performed using the SPSS software package. Based on the nested PCR, the result showed a malaria prevalence of 32.6% with being the dominant species (52.5%). Malaria cases were found in all study sites and not using a bed net was the moost signifcant risk factors with Exp B= 1.54 with 95% CI= 0.99–2.38. G6PDd prevalence was 16.6%, the highest G6PDd ever found in Indonesia with variant molecular dominant 10.883 T>C and one sample with a heterozygous female. Malaria pre-elimination in eastern Indonesia should be delayed. High risk patients should be tested for enzyme G6PD activities before antimalarial administration

Recent advances in hydrothermal carbonisation:from tailored carbon materials and biochemicals to applications and bioenergy

Introduced in the literature in 1913 by Bergius, who at the time was studying biomass coalification, hydrothermal carbonisation, as many other technologies based on renewables, was forgotten during the "industrial revolution". It was rediscovered back in 2005, on the one hand, to follow the trend set by Bergius of biomass to coal conversion for decentralised energy generation, and on the other hand as a novel green method to prepare advanced carbon materials and chemicals from biomass in water, at mild temperature, for energy storage and conversion and environmental protection. In this review, we will present an overview on the latest trends in hydrothermal carbonisation including biomass to bioenergy conversion, upgrading of hydrothermal carbons to fuels over heterogeneous catalysts, advanced carbon materials and their applications in batteries, electrocatalysis and heterogeneous catalysis and finally an analysis of the chemicals in the liquid phase as well as a new family of fluorescent nanomaterials formed at the interface between the liquid and solid phases, known as hydrothermal carbon nanodots