Opennes and the Effectiveness of Monetary Policy : Empirical Evidence from Turkey

Opennes; Monetary Policy

Relationship between the Twin Deficit Hypothesis and the Inflation: Case of Turkey (2010-2019)

Twin deficit hypothesis; It emerges when budget deficits and current account deficits are observed simultaneously. Exchange rate fluctuations have an impact on both cost inflation and consumer inflation through production costs due to Turkey's import substitution mode of production. In this study, the relationship between the twin deficit hypothesis and consumer inflation was analyzed using VAR analysis and Granger causality tests using quarterly data between the periods 2010: Q1 and 2019: Q4. According to the results obtained; while the twin deficit hypothesis was not supported in Turkey in the period discussed, it was observed that the budget deficit and current account deficit increased inflation

Three-factor asset pricing model and portfolio holdings of foreign investors: evidence from an emerging market – Borsa Istanbul

This article contributes to the asset pricing literature by offering an alternative missing factor: the excess holdings of foreign investors. To incorporate this factor, we mimic the portfolio of foreign investors in Borsa Istanbul (BIST) with respect to portfolio preferences (foreign ownership) using the Fama and French’s three-factor model. Our findings suggest that market factor, size, and book-to-market (B/M) variables are still statistically significant and Jensen’s alpha is still not significant, and we obtain a statistically significant negative relationship between the excess return of foreign investors’ ownership and the return variation of a given portfolio

Wpływ hormonalnej terapii zastępczej oraz tamoxifenu na depresję u szczurów poddanych usunięciu jajników

Objectives: To determine the effects of tamoxifen and hormone replacement therapy in order to assess their role in depressive behavior. Material and Methods: Different protocols of hormone replacement therapies were administered to surgically ovariectomized rats. Intact rats were used for tamoxifen experiments. Properly assigned control groups were used and cognitive processes were studied on animal models of surgical menopause using the Porsolt Forced Swim Test and locomotor activity experiments. Results: In the tamoxifen experiments, an interaction between treatment and days did not reach statistical significance, but indicated a trend in this direction [F(1,26)=3.557, p=0.071]. The number of repeated movements significantly decreased after the Porsolt test (F(1,44) = 8.483, PCel: Określenie wpływu tamoxifenu oraz hormonalnej terapii zastępczej celem oceny ich roli w zachowaniach depresyjnych. Materiał i metody: Różne protokoły hormonalnej terapii zastępczej zastosowano u szczurów poddanych chirurgicznemu usunięciu jajników. Tamoxifen podawano szczurom, których nie operowano. Wykorzystano odpowiednio dobraną grupę kontrolną. Zbadano procesy poznawcze na modelach zwierzęcych z chirurgiczną menopauzą przy pomocy testu Porsolt Forced Swim oraz doświadczeń aktywności ruchowej. Wyniki: W doświadczeniach z tamoxifenem, związek pomiędzy terapią a dniami nie osiągnął statystycznej istotności, ale wykazał trend w tym kierunku [F(1,26)=3,557,p=0,071]. Liczba powtórzeń ruchów istotnie zmniejszyła się po teście Porsolta [F(1,44)=8,483,

Macular Findings Obtained by Spectral Domain Optical Coherence Tomography in Retinopathy of Prematurity

Purpose. To examine the macular findings obtained with spectral domain optical coherence tomography (SD OCT) in infants with retinopathy of prematurity (ROP). Materials and Methods. The macular SD OCT images of 190 premature infants were analyzed. Data regarding central foveal thickness (CFT), cystoid macular edema (CME), and cyst grading were compared. The relationships of CFT with gestational age and birth weight were investigated. Results. The results were obtained from 358 eyes of 179 infants (81 females and 98 males) of a mean gestational age of 30.9±2.7 weeks and a mean birth weight of 1609±477 g. ROP was diagnosed in 126 eyes and CME in 139 eyes. A significantly greater percentage of eyes with ROP were found to have CME (54%) compared to eyes without ROP (31%; P=0.001). The incidence of CME was 46.3% for stage 1 ROP, 57.1% for stage 2, and 87.5% for stage 3. There was a weakly inverse correlation between CFT, gestational age, and birth weight (P=0.025, r=-0.227; P=0.002, r=-0.182, resp., Spearman correlation test). Conclusions. High-quality SD OCT images can be obtained from premature infants using the iVue system. Severity and frequency of CME in premature infants increase as stage of ROP increases

ABNORMALNI TEST OPTEREĆENJA GLUKOZOM I BLAGI GESTACIJSKI DIJABETES

Objective. The status of carbohydrate metabolism of pregnant women with positive glucose challenge test (GCT), but normal oral glucose tolerance test (OGTT) and their neonates are not defined clearly. Study Design. Pregnant women with normal GCT (n: 120), with abnormal glucose challenge test (AGCT) but normal OGTT (n: 67) and with gestational diabetes (GDM, n: 67) were included into the study. Insulin sensitivity was evaluated by fasting insulin level, homeostasis model assessment of insulin resistance index (HOMA-IR); quantitative insulin check index (QUICKI) and ISOGTT. Serum insulin and glucose values during OGTT were documented. Perinatal outcome and delivery modalities were compared. Results. Both GDM (31.6±5.9 yrs) and AGCT groups (29.0±4.0 yrs) were older than controls (28.1±4.9 yrs). Body mass index (BMI) was the predominant factor affecting both AGCT and GDM groups (OR: 3.78 and 5.97 respectively). Despite there was no significance between insulin indices; serum glucose and insulin values were similarly different; macrosomic infant and caesarean section rates were higher than controls in both GDM and AGCT groups in favor of gestational diabetics (6.6% vs. 18.9%; p=0.0001 and 20% vs. 27.7% p=0.0001 respectively). Conclusion. Pregnant woman with abnormal glucose challenge test have impaired carbohydrate metabolism as in gestational diabetics with a lesser severe degree.Cilj istraživanja. Stanje metabolizma ugljikohidrata u trudnica s pozitivnim testom probira (glucose challenge test – GCT), a normalnim testom opterećenja glukozom (OGTT) te njihove novorođenčadi, nije jasno definirano. Način istraživanja. U studiju su uključene trudnice s normalnim GCT-om (n: 120), s abnormalnim GCT-om ali normalnim OGTT-om (n:67 te trudnice s gestacijskim dijabetesom (n: 67). Insulinska osjetljivost je vrednovana jutarnjiom vrijednošću insulina, modelom prosudbe homeostaze indeksom rezistencije na inzulin (HOMA-IR), kvantitativnim indeksom provjere insulina (QUICKI) i ISOGTT-om. Vrijednosti serumske glukoze i inzulina su analizirane. Uspoređen je perinatalni ishod i način poroda. Rezultati. Trudnice s GDM (31,6±5,9 godina) i one s AGCT (29,0±4,0 godina) su bile starije dobi od kontrolnih trudnica (28,1±4,9 godina). Indeks tjelesne težine (BMI) je bio presudni čimbenik u skupini s AGCT i GDM (OR: 3,78 odnosno 5,97). Unatoč tome nije bilo značajnosti među inzuilinskim indeksima; serumske vrijednosti glukoze i inzulina su bile slično različite; makrosomna djeca i stopa carskih rezova su u trudnica s AGCT i OGTT bile češće, posebice u trudnica s GDM (6,6% prama 18,9%, p = 0,0001; 20% prama 27,7%, p = 0,0001). Zaključak. Trudnice s abnormalnim testom probira na glukozu (AGCT) imaju poremećaj metabolizma ugljikohidrata kao i trudnice s gestacijskim dijabetesom (GDM), ali u nešto manjoj mjeri

Extreme Calvarial and Upper Cervical Hyperpneumatization: A Case Report

The pneumatization of bones of cranial base other than the mastoid process and temporal bone is a pathologic and rare condition, and it may cause some serious complications. Extension of the pneumatization to the cranial vault and upper cervical bones is extremely rare. A 67 year-old man was admitted with complaint of chronic nonspecific headache for a long time. He had no history of head trauma or otologic infection. Physical examination not revealed fever, any palpable swelling, rhinorrhea or otorrhea. There was only a slight right sensorineural hearing loss. Brain computerized tomography (CT) revealed hyperpneumatization in the right mastoid process and right temporal bone, bilateral occipital, parietal and frontal bones, and right side of the atlas. There was no pneumocephalus, but there was free air under the scalp of the right suboccipital region and around the right condyle, right transverse process of the atlas and right paravertebral region of the upper cervical vertebrae. Extrathecal cerebrospinal fluid (CSF) leakage was not detected by CT cisternography with intrathecal contrast administration and by the radionuclide cisternogram

Reducing the environmental impact of surgery on a global scale: systematic review and co-prioritization with healthcare workers in 132 countries

Abstract Background Healthcare cannot achieve net-zero carbon without addressing operating theatres. The aim of this study was to prioritize feasible interventions to reduce the environmental impact of operating theatres. Methods This study adopted a four-phase Delphi consensus co-prioritization methodology. In phase 1, a systematic review of published interventions and global consultation of perioperative healthcare professionals were used to longlist interventions. In phase 2, iterative thematic analysis consolidated comparable interventions into a shortlist. In phase 3, the shortlist was co-prioritized based on patient and clinician views on acceptability, feasibility, and safety. In phase 4, ranked lists of interventions were presented by their relevance to high-income countries and low–middle-income countries. Results In phase 1, 43 interventions were identified, which had low uptake in practice according to 3042 professionals globally. In phase 2, a shortlist of 15 intervention domains was generated. In phase 3, interventions were deemed acceptable for more than 90 per cent of patients except for reducing general anaesthesia (84 per cent) and re-sterilization of ‘single-use’ consumables (86 per cent). In phase 4, the top three shortlisted interventions for high-income countries were: introducing recycling; reducing use of anaesthetic gases; and appropriate clinical waste processing. In phase 4, the top three shortlisted interventions for low–middle-income countries were: introducing reusable surgical devices; reducing use of consumables; and reducing the use of general anaesthesia. Conclusion This is a step toward environmentally sustainable operating environments with actionable interventions applicable to both high– and low–middle–income countries

Weather fluctuation-induced constraints of adaptive coloration of the wood tiger moth

Yksi värityksen tarkoitus on lämmönsäätely, mikä auttaa eliöitä sopeutumaan vaihteleviin ympäristöolosuhteisiin. Yhdistämällä pitkäaikainen seuranta-aineisto säätilan muutoksiin, voi auttaa meitä ymmärtämään lajin sopeutumispotentiaalia. Täpläsiilikäs (Arctia plantaginis) on laajalle levinnyt Holarktinen laji, jonka siipien väritys koostuu tumman eumelaniin ja vaaleamman pheomelaniinin yhdistelmästä. Tässä tutkimuksessa tarkastelin Bogertin termomelanismihypoteesia, jonka mukaan tummempia yksilöitä tavataan kylmemmissä ympäristöissä. Tutkin 10 vuoden aikasarjaa luonnosta pyydettyjen aikuisten täpläsiilikkäiden värivaihtelussa 1000 kilometrin alueelta leveyspiirigradientin suuntaisesti Virosta, Etelä-, Keski- ja Pohjois-Suomeen. Selvitin siipien melanisaatiota ja liitin tämän sääaineistoon (lämpötilan, kosteus, sadanta) täpläsiilikkään eri elinkiertovaiheissa (aikuisuus, nuoret toukat, talvehdinta, suuret toukat) tarkastelemalla valokuva-aineistoa Beta-regressio mallien avulla. Tulokseni osoittavat, että sääolosuhteet vaikuttavat merkitsevästi siipien melanisaatioon. Lämpötila vaikutti negatiivisesti ja kosteus positiivisesti eumelaniin ilmenemiseen. Etusiipien melanisaatiossa havaittiin kasvava ja takasiivissä negatiivinen vuosittainen trendi. Eri elinkiertovaiheiden aikainen sää vaikutti eri tavoin aikuisten siipien ilmiasuun, mikä todennäköisesti rajoittaa suuntaavaa valintaa ja ylläpitää muuntelua siipien värityksessä. Näin ollen, sään aiheuttamat vastakkaiset valintapaineet siipien väritykseen voivat säilyttää eri elinkiertovaiheissa olevaa evolutiivista potentiaalia ja siten edesauttaa sopeutumista muuttuviin ympäristöolosuhteisiin.One adaptive role of coloration is thermoregulation, which can help organisms to adapt to changing environmental conditions. Linking long-term monitoring of a species to weather data may therefore, help us to understand constraints of species’ adaptive potential via coloration. The wood tiger moth (Arctia plantaginis) is a widespread Holarctic species and its wing coloration is a combination of dark eu- and paler pheomelanin deposition. In this study, I tested Bogert’s thermal melanism hypothesis, which states that higher melanism (i.e. darker appearance) is expected at higher latitudes and/or colder environments. In order to do this, I analyzed 10-year-long data of wild-collected adult wood tiger moths’ wings, across 1000 kilometers long latitudinal gradient from Estonia, South-, Central- to North Finland. I investigated the melanin deposition of wings using photographic data and linked this to weather data (temperature, humidity, precipitation) divided across different life cycle periods (adulthood, small larvae, overwintering and large larvae) using image analysis techniques and Beta Regression models. My results show that weather conditions have a significant effect on wing melanisation. Temperature had a decreasing and humidity an increasing effect on eumelanin deposition. Forewings showed an increasing and hindwings a decreasing trend over the years. Different life-history stages of moths induced divergent responses on adult phenotypes, which may constrain combined functions of adaptive coloration. This is important, because color-linked fitness functions may preserve evolutionary potential over time and thus, help populations to adapt to changing conditions in nature