776 research outputs found
The Role of Macroprudential Policy for Financial Stability in East Asia’s Emerging Economies
This paper analyzes the role and scope of macroprudential policy in preventing financial instability in the context of East Asian economies. It analyzes the behavior of the housing market in a dynamic setting to identify some of the factors responsible for the volatility of housing markets and their susceptibility to boom-bust cycles, which it identifies as a key source of financial imbalances in these economies. It then discusses the causal nexus between price and financial stability and the roles and complementary nature of macroprudential and monetary policies in addressing aggregate risk in the financial system. The paper identifies currency and maturity mismatches, which contributed to the 1997 - 1998 Asian financial crisis, as ongoing concerns in these economies although the high levels of reserves in the region now act as a buffer
Expression and Purification of Z Protein from Junín Virus
Arenaviridae comprises 23 recognized virus species with a bipartite ssRNA genome and an ambisense coding strategy. The virions are enveloped and include nonequimolar amounts of each genomic RNA species, designated L and S, coding for four ORFs (N, GPC, L, and Z). The arenavirus Junín (JUNV) is the etiological agent of Argentine Hemorrhagic Fever, an acute disease with high mortality rate. It has been proposed that Z is the functional counterpart of the matrix proteins found in other negative-stranded enveloped RNA viruses. Here we report the optimized expression of a synthetic gene of Z protein, using three expression systems (two bacterial and a baculoviral one). One of these recombinant proteins was used to generate antibodies. A bioinformatic analysis was made where Z was subdivided into three domains. The data presented contributes methodologies for Z recombinant production and provides the basis for the development of new experiments to test its function
Leading indicators of fiscal distress: evidence from extreme bounds analysis
Early warning systems (EWSs) are widely used to assess a country’s vulnerability to fiscal distress. A fiscal distress episode is identified as a period when government experiences extreme funding difficulties. Most EWSs employ a specific set of only fiscal leading indicators predetermined by the researchers, which casts doubt on their robustness. We revisit this issue using extreme bounds analysis, which allows identifying robust leading indicators of fiscal distress from a large set. A robust leading indicator’s effect does not strongly depend on the model specification. Consistent with the theoretical predictions of latest generation crisis models, we find that both fiscal and non-fiscal leading indicators are robust. In addition, we find that a fiscal vulnerability indicator based on fiscal and non-fiscal leading indicators offers a 29% gain in predictive power compared to a traditional one based only on fiscal leading indicators. This suggests that both fiscal and non-fiscal leading indicators should be taken into account when assessing country’s vulnerability to fiscal distress
Performance Of A Liquid Argon Time Projection Chamber Exposed To The WANF Neutrino Beam
We present the results of the first exposure of a Liquid Argon TPC to a
multi-GeV neutrino beam. The data have been collected with a 50 liters
ICARUS-like chamber located between the CHORUS and NOMAD experiments at the
CERN West Area Neutrino Facility (WANF). We discuss both the instrumental
performance of the detector and its capability to identify and reconstruct low
multiplicity neutrino interactions.Comment: 14 pages, 12 figures. Submitted for publication to Physical Review
A new, very massive modular Liquid Argon Imaging Chamber to detect low energy off-axis neutrinos from the CNGS beam. (Project MODULAr)
The paper is considering an opportunity for the CERN/GranSasso (CNGS)
neutrino complex, concurrent time-wise with T2K and NOvA, to search for
theta_13 oscillations and CP violation. Compared with large water Cherenkov
(T2K) and fine grained scintillators (NOvA), the LAr-TPC offers a higher
detection efficiency and a lower backgrounds, since virtually all channels may
be unambiguously recognized. The present proposal, called MODULAr, describes a
20 kt fiducial volume LAr-TPC, following very closely the technology developed
for the ICARUS-T60o, and is focused on the following activities, for which we
seek an extended international collaboration:
(1) the neutrino beam from the CERN 400 GeV proton beam and an optimised horn
focussing, eventually with an increased intensity in the framework of the LHC
accelerator improvement program;
(2) A new experimental area LNGS-B, of at least 50000 m3 at 10 km off-axis
from the main Laboratory, eventually upgradable to larger sizes. A location is
under consideration at about 1.2 km equivalent water depth;
(3) A new LAr Imaging detector of at least 20 kt fiducial mass. Such an
increase in the volume over the current ICARUS T600 needs to be carefully
considered. It is concluded that a very large mass is best realised with a set
of many identical, independent units, each of 5 kt, "cloning" the technology of
the T600. Further phases may foresee extensions of MODULAr to meet future
physics goals.
The experiment might reasonably be operational in about 4/5 years, provided a
new hall is excavated in the vicinity of the Gran Sasso Laboratory and adequate
funding and participation are made available.Comment: Correspondig Author: C. Rubbia (E-mail: [email protected]), 33
pages, 11 figure
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