The nexus between prices, employment and output growth: a global and national evidence

This paper investigates how output growth, employment growth and inflation influence each other in the short/long run. It builds on Phillips (1962) and Blanchard Fischer (1989) assessment that empirical links between output, employment and prices are central issue in modern macroeconomics. This paper brings a global perspective on short and long term links between employment growth, inflation and output growth using panel cointegration framework with non-stationary heterogeneous panel (119 countries over 1970–2010). The empirical results (on global and national level) strongly support the existence of a long-run equilibrium relationship between output growth, employment growth and inflation. A central finding is that possible trade-off effects between growth, employment and prices varies significantly among economies. Therefore, universal answers to questions Is inflation good for growth or Is there a trade-off between employment and growth are not straightforward for general macroeconomic theory. Each country must design own economic policy (targeting) taking into account the quantitative relationships between growth, employment and prices. This has important policy implications also for price setting policies, cost management, market strategy and risk management through productivity-demand disturbances effects on the business environment

Metal-controlled diastereoselective self-assembly and circularly polarized luminescence of a chiral heptanuclear europium wheel

The chiral dissymmetric tetradentate ligand (S)-6′-(4-phenyloxazolin- 2-yl)-2,2′-bipyridine-6-carboxylate (S-Phbipox) leads to the diastereoselective assembly of a homochiral Eu3+ triangle and a highly emissive (quantum yield = 27%) heptanuclear wheel that is the largest example of a chiral luminescent complex of Eu3+ reported to date. The nuclearity of the assembly is controlled by the solvent and the Eu3+ cation. All of the compounds show large circularly polarized luminescence with an activity that varies with the nature of the assembly (highest for the homochiral trimer). © 2012 American Chemical Society

An investigation of interleukin-1 in graft versus host disease following allogeneic bone marrow transplantation

Available from British Library Document Supply Centre- DSC:DXN055334 / BLDSC - British Library Document Supply CentreSIGLEGBUnited Kingdo

Frequency Domain

Time series analysis in frequency domain has always been an active area of research. Theorists often employ techniques in frequency domain to advance current understanding on complex time series properties and develop useful toolboxes for practical time series analysis. This chapter reviews several concepts from frequency domain that are helpful for forecasting. The main focus is on the intuition behind these techniques rather than a rigorous mathematical introduction. In addition to the traditional frequency domain techniques, this chapter also discusses a time-frequency domain technique called wavelets, which has recently become an active area of research in financial econometrics due to the availability of tall and huge financial data. A novel application of the ZVAR model based on the generalised shift operator will also be introduced. ZVAR has the ability to produce forecasts at a sampling frequency that is different from the sampling frequency of the data. Monte Carlo experiments show that this approach performs relatively well when compared with the forecast performance of the true data generating process. Given the availabilities of big data, one may expect data with different sampling frequencies would become more common. ZVAR would seem to be a complementary method to other mixed frequency approaches such as Mixed Data Sampling (MIDAS)

Assessing the twin and triple deficit hypotheses in developing economies: A panel causality analysis

Twin deficit hypothesis, regarding Keynesian and Ricardian perspective, introducing of the linkage between budget deficit and current account deficit is broadly investigated. The literature on triple deficits which advance twin deficit hypothesis by associating savings and fixed investments is limited. The aim of this chapter is to explore whether the twin and triple deficit hypotheses are valid in developing economies. To this end, the twin and triple deficit hypotheses are examined by testing Dumitrescu and Hurlin (Economic Modelling 29(4): 1450–1460, 2012) panel causality approach for 15 developing country economies. The Czech Republic, Hungary, Estonia, Lithuania, Latvia, Ukraine, Brazil, India, Malaysia, Slovak Republic, Romania, Poland, Russian Federation, South Africa, and Turkey were analyzed, and the period is between 2000 and 2015 in the study. According to the panel causality results, there is a unidirectional causality from budget deficit to current account deficit. It is concluded that hypothesis of twin deficits is valid for the country group analyzed. In the field of the triple deficit hypothesis, a strong interrelationship between domestic savings and the current account is reached, while a causal relationship between fixed capital investments and the current account balance cannot be determined. In this context, when considering domestic savings as the decisive variable in the saving-investment gap, it is concluded that the theory of triple deficit is partially valid for the group of developing countries. © Springer International Publishing AG, part of Springer Nature 2018

Fully efficient direct Yb-to-Er energy transfer at molecular level in a near-infrared emitting heterometallic trinuclear quinolinolato complex

Combined chemical/photophysical studies on the mixed Yb–Er trinuclear lanthanide quinolinolato compound Yb2ErQ9 and on the corresponding Yb3Q9 analogue have been performed. In the mixed-metal molecular species, the ligands, acting as a bridge, allow the two metals to lie at optimal distance for direct Yb-to-Er resonance energy transfer, which reaches nearly unitary efficiency. The obtained results show that polynuclear lanthanide complexes provide a suitable strategy for achieving effective erbium sensitization in solution-processable molecular materials