Foreign Currency Borrowing: The Case of Hungary

We use household survey data from Hungary to analyse the determinants of foreign currency (FX) borrowing. We do not find evidence that Hungarian FX borrowers are better educated, wealthier or more risk-loving than their peers. In fact, FX borrowing is a common phenomenon driven mostly by macroeconomic factors: high interest rate spreads, a relatively stable exchange rate and the competition of foreign owned banks. Although FX borrowing is widespread, our analysis suggests that loan losses directly attributed to it may be limited, given currency fluctuations up to autumn 2009

Plasma surface engineering to biofunctionalise polymers for β-cell adhesion

Implant devices containing insulin-secreting β-cells hold great promise for the treatment of diabetes. Using in vitro cell culture, long-term function and viability are enhanced when β-cells are cultured with extracellular matrix (ECM) proteins. Here, our goal is to engineer a favorable environment within implant devices, where ECM proteins are stably immobilized on polymer scaffolds, to better support β-cell adhesion. Four different polymer candidates (low-density polyethylene (LDPE), polystyrene (PS), polyethersulfone (PES) and polysulfone (PSU)) were treated using plasma immersion ion implantation (PIII) to enable the covalent attachment of laminin on their surfaces. Surface characterisation analysis shows the increased hydrophilicity, polar groups and radical density on all polymers after the treatment. Among the four polymers, PIII-treated LDPE has the highest water contact angle and the lowest radical density which correlate well with the non-significant protein binding improvement observed after 2 months of storage. The study found that the radical density created by PIII treatment of aromatic polymers was higher than that created by the treatment of aliphatic polymers. The higher radical density significantly improves laminin attachment to aromatic polymers, making them better substrates for β-cell adhesion

The connection analysis between the dilution of the deposited Fe-Cr-V-Mo-C layer by the basic metal and the parameters of its microstructure

In this work, the structure of the Fe-Cr-V-Mo-C coatings received by plasma transferred arc cladding was investigated. Coatings were deposited on plates with a thickness of 10 mm and made from constructional steel (steel 20). The correlation analysis of relationships between dilution of the deposited layers by the basic metal and the parameters of their microstructure was carried out. The parameters were as follows: volume fraction, a size, a shape factor, the distance between particles, the number of particles of vanadium carbide, volume fraction of the eutectic on the basis of carbide M[7]C[3] and the distances between its colonies, as well as the volume fraction of the [alpha]-phase in the alloy matrix

Effects of subducted seamounts on megathrust earthquake nucleation and rupture propagation

Author Posting. © American Geophysical Union, 2012. This article is posted here by permission of American Geophysical Union for personal use, not for redistribution. The definitive version was published in Geophysical Research Letters 39 (2012): L24302, doi:10.1029/2012GL053892.Subducted seamounts have been linked to interplate earthquakes, but their specific effects on earthquake mechanism remain controversial. A key question is under what conditions a subducted seamount will generate or stop megathrust earthquakes. Here we show results from numerical experiments in the framework of rate- and state-dependent friction law in which a seamount is characterized as a patch of elevated effective normal stress on the thrust interface. We find that whether subducted seamounts generate or impede megathrust earthquakes depends critically on their relative locations to the earthquake nucleation zone defined by depth-variable friction parameters. A seamount may act as a rupture barrier and such barrier effect is most prominent when the seamount sits at an intermediate range of the seamount-to-trench distances (20–100% of the nucleation-zone-to-trench distance). Moreover, we observe that seamount-induced barriers can turn into asperities on which megathrust earthquakes can nucleate at shallow depths and rupture the entire seismogenic zone. These results suggest that a strong barrier patch may not necessarily reduce the maximum size of earthquakes. Instead, the barrier could experience large coseismic slip when it is ruptured.This work is supported by the NSF Grant EAR-1015221 and WHOI Deep Ocean Exploration Institute awards 27071150 and 25051162.2013-06-1

Beyond the marrow:insights from comprehensive next-generation sequencing of extramedullary multiple myeloma tumors

Extramedullary multiple myeloma (EMM) is an aggressive form of multiple myeloma (MM). This study represents the most comprehensive next-generation sequencing analysis of EMM tumors (N = 14) to date, uncovering key molecular features and describing the tumor microenvironment. We observed the co-occurrence of 1q21 gain/amplification and MAPK pathway mutations in 79% of EMM samples, suggesting that these are crucial mutational events in EMM development. We also demonstrated that patients with mutated KRAS and 1q21 gain/amplification at the time of diagnosis have a significantly higher risk of EMM development (HR = 2.4, p = 0.011) using data from a large CoMMpass dataset. We identified downregulation of CXCR4 and enhanced cell proliferation, along with reduced expression of therapeutic targets (CD38, SLAMF7, GPRC5D, FCRH5), potentially explaining diminished efficacy of immunotherapy. Conversely, we identified significantly upregulated EZH2 and CD70 as potential future therapeutic options. For the first time, we report on the tumor microenvironment of EMM, revealing CD8+ T cells and NK cells as predominant immune effector cells using single-cell sequencing. Finally, this is the first longitudinal study in EMM revealing the molecular changes from the time of diagnosis to EMM relapse.</p

T cell receptor repertoires associated with control and disease progression following Mycobacterium tuberculosis infection

Antigen-specific, MHC-restricted αβ T cells are necessary for protective immunity against Mycobacterium tuberculosis, but the ability to broadly study these responses has been limited. In the present study, we used single-cell and bulk T cell receptor (TCR) sequencing and the GLIPH2 algorithm to analyze M. tuberculosis-specific sequences in two longitudinal cohorts, comprising 166 individuals with M. tuberculosis infection who progressed to either tuberculosis (n = 48) or controlled infection (n = 118). We found 24 T cell groups with similar TCR-β sequences, predicted by GLIPH2 to have common TCR specificities, which were associated with control of infection (n = 17), and others that were associated with progression to disease (n = 7). Using a genome-wide M. tuberculosis antigen screen, we identified peptides targeted by T cell similarity groups enriched either in controllers or in progressors. We propose that antigens recognized by T cell similarity groups associated with control of infection can be considered as high-priority targets for future vaccine development

Hydrogeological system of erosional convergent margins and its influence on tectonics and interplate seismogenesis

[1] Fluid distribution in convergent margins is by most accounts closely related to tectonics. This association has been widely studied at accretionary prisms, but at half of the Earth's convergent margins, tectonic erosion grinds down overriding plates, and here fluid distribution and its relation to tectonics remain speculative. Here we present a new conceptual model for the hydrological system of erosional convergent margins. The model is based largely on new data and recently published observations from along the Middle America Trench offshore Nicaragua and Costa Rica, and it is consistent with observations from other erosional margins. The observations indicate that erosional margins possess previously unrecognized distinct hydrogeological systems: Most fluid contained in the sediment pores and liberated by early dehydration reactions drains from the plate boundary through a fractured upper plate to seep at the seafloor across the slope, rather than migrating along the décollement toward the deformation front as described for accretionary prisms. The observations indicate that the relative fluid abundance across the plate-boundary fault zone and fluid migration influence long-term tectonics and the transition from aseismic to seismogenic behavior. The segment of the plate boundary where fluid appears to be more abundant corresponds to the locus of long-term tectonic erosion, where tectonic thinning of the overriding plate causes subsidence and the formation of the continental slope. This correspondence between observations indicates that tectonic erosion is possibly linked to the migration of overpressured fluids into the overriding plate. The presence of overpressured fluids at the plate boundary is compatible with the highest flow rates estimated at slope seeps. The change from aseismic to seismogenic behavior along the plate boundary of the erosional margin begins where the amount of fluid at the fault declines with depth, indicating a control on interplate earthquakes. A previously described similar observation along accreting plate boundaries strongly indicates that fluid abundance exerts a first-order control on interplate seismogenesis at all types of subduction zones. We hypothesize that fluid depletion with depth increases grain-to-grain contact, increasing effective stress on the fault, and modifies fault zone architecture from a thick fault zone to a narrower zone of localized slip