Monetary policy and inflation persistence in the Eurozone

The primary goal of the European Central Bank’s (ECB) monetary policy is to achieve price stability. Whereas during the 1980s and 1990s there was a rapid and strong convergence in terms of price differential among the Euro countries, particularly in those countries with higher inflation rates in the past, single monetary policy has proved to be quite inefficient in continuing this trend and has not achieved further reductions in inflation rate differentials within the euro zone. Since the ECB sets the official interest rate according to the average inflation of the euro area, the persistence of such price differentials within the area would mean that the “one size interest rate policy” would not fit all. This paper studies empirically the inflation rate differentials and their persistence in some currency unions with the aim to draw some conclusions for the working of the ECB monetary policy. KEYWORDS: monetary policy; inflation persistence; currency unions

Good Banks and Bad Banks, Centralised Banks and Local Banks and Economic Growth

The on-going banking crisis has demonstrated the significance of banking for economic growth. While banks as creators of money are important for the functioning of the economy, bank lending to productive enterprises is necessary for economic activity. Much of the international policy discussion supports the notion of reform of banking structure to allow banks to perform these two functions more effectively. On the one hand there is a discussion of separating traditional banking functions from those which exposed the system to excessive risk, i.e. separating ‘good' banking from ‘bad' banking. At the same time there has been discussion of the relative merits of large-scale banking concentrated in financial centres and smaller-scale local banking

O papel do crédito na divergência regional: regiões espanholas e países da Zona do Euro

This paper provides a theoretical account of the role of regional differences in cyclical patterns of credit availability for patterns of regional convergence or divergence. While mainstream theories imply either equalising regional capital flows, or else lower credit availability for peripheral regions due to market imperfections, Post-Keynesian theory of liquidity preference and financial structure imply the scope for greater credit volatility for peripheral regions, especially in downturns, contributing to real economic divergence. This latter account is assessed by means of an empirical analysis of patterns in bank credit over the business cycle among the Spanish regions and Eurozone countries

Cycle of Knowledge in the Management of the Supply Chain of Corn for Human Consumption

The objective of this study is to characterize the cycle of knowledge in the supply chain of the industry of corn for human consumption. White corn is cultivated almost exclusively for human consumption and it has a significant value in the food supply in countries whose diet has a high proportion of this variety of corn, such as: Venezuela, México and Colombia in America, and the Republic of South Africa and Sahel countries in Africa. Corn is produced in Venezuela, under rainfed conditions and in a highly mechanized production system. The cycle of knowledge is defined as a progressive spiral in which knowledge is created, stored, transferred, applied and preserved, in order to increase the competitiveness and  sustainability of organizations and companies in the food supply chain. This non experimental and crosssectional research is of a descriptive type. It was conducted in Venezuela during the second semester of 2009 in the supply chain of white corn, specifically, at the level of first tier producers (primary sector). The population is constituted by 1,754 producers of corn in the most important producing regions of the country. The representative sample was selected by the stratified sampling technique with proportional allocation: by association of corn producers and according to the grain yield. A questionnaire was designed and conducted according to the structured survey method. Its validity was verified by discriminant tests of items and its reliability through Bartlett's test, variance factorial analysis, Kaiser/Meyer/Olkin and Cronbach Alpha, achieving the last one a value of 0.9276.The production units have an average area of 67.17 ha, with 1.97 permanent workers and 4.06 temporary workers. They obtained a physical productivity of 4,210.45 kg/ha. The Knowledge Index (KI) achieved a value of 69.78% and the Perception Index of the results (PI) was 76.06%. The Pearson correlation among these indices was positive and significant with a value of 0.51. The factorial analysis for principal components with rotated factors allows obtaining four factors from the five dimensions originally considered. These factors are: (1) knowledge creation, (2) knowledge storage, (3) knowledge transfer and application, and (4) preservation of knowledge.The results allow us to conclude that the cycle of knowledge is managed in four stages in an intuitive and predominantly tacit manner which is the reason why those practices related to explicit knowledge become the agents of differentiation. Moreover, the existence of a positive correlation between the Knowledge Index and the Perception Index of the positive results by the producer was also proven

SafeLS: Toward Building a Lockstep NOEL-V Core

Safety-critical systems such as those in automotive, avionics and space, require appropriate safety measures to avoid silent data corruption upon random hardware errors such as those caused by radiation and other types of electromagnetic interference. Those safety measures must be able to prevent faults from causing the so-called common cause failures (CCFs), which occur when a fault produces identical errors in redundant elements so that comparison fails to detect the errors and a failure arises. The usual solution to avoid CCFs in CPU cores is using lockstep cores, so that two cores execute the same flow of instructions, but with some time staggering so that their state is never identical and faults can only lead to different errors, which are then detectable by means of comparison. This paper extends Gaisler's RISC-V NOEL-V core with lockstep; and presents future prospects for its use and distribution.Comment: Abstract presented at the RISC-V Summit, June 2023, Barcelona (Spain

Correlating Remote Sensing Data with the Abundance of Pupae of the Dengue Virus Mosquito Vector, Aedes aegypti, in Central Mexico

Using a geographic transect in Central Mexico, with an elevation/climate gradient, but uniformity in socio-economic conditions among study sites, this study evaluates the applicability of three widely-used remote sensing (RS) products to link weather conditions with the local abundance of the dengue virus mosquito vector, Aedes aegypti (Ae. aegypti). Field-derived entomological measures included estimates for the percentage of premises with the presence of Ae. aegypti pupae and the abundance of Ae. aegypti pupae per premises. Data on mosquito abundance from field surveys were matched with RS data and analyzed for correlation. Daily daytime and nighttime land surface temperature (LST) values were obtained from Moderate Resolution Imaging Spectroradiometer (MODIS)/Aqua cloud-free images within the four weeks preceding the field survey. Tropical Rainfall Measuring Mission (TRMM)-estimated rainfall accumulation was calculated for the four weeks preceding the field survey. Elevation was estimated through a digital elevation model (DEM). Strong correlations were found between mosquito abundance and RS-derived night LST, elevation and rainfall along the elevation/climate gradient. These findings show that RS data can be used to predict Ae. aegypti abundance, but further studies are needed to define the climatic and socio-economic conditions under which the correlations observed herein can be assumed to apply

Reduced Levels of Membrane-Bound Alkaline Phosphatase Are Common to Lepidopteran Strains Resistant to Cry Toxins from Bacillus thuringiensis

Development of insect resistance is one of the main concerns with the use of transgenic crops expressing Cry toxins from the bacterium Bacillus thuringiensis. Identification of biomarkers would assist in the development of sensitive DNA-based methods to monitor evolution of resistance to Bt toxins in natural populations. We report on the proteomic and genomic detection of reduced levels of midgut membrane-bound alkaline phosphatase (mALP) as a common feature in strains of Cry-resistant Heliothis virescens, Helicoverpa armigera and Spodoptera frugiperda when compared to susceptible larvae. Reduced levels of H. virescens mALP protein (HvmALP) were detected by two dimensional differential in-gel electrophoresis (2D-DIGE) analysis in Cry-resistant compared to susceptible larvae, further supported by alkaline phosphatase activity assays and Western blotting. Through quantitative real-time polymerase chain reaction (qRT-PCR) we demonstrate that the reduction in HvmALP protein levels in resistant larvae are the result of reduced transcript amounts. Similar reductions in ALP activity and mALP transcript levels were also detected for a Cry1Ac-resistant strain of H. armigera and field-derived strains of S. frugiperda resistant to Cry1Fa. Considering the unique resistance and cross-resistance phenotypes of the insect strains used in this work, our data suggest that reduced mALP expression should be targeted for development of effective biomarkers for resistance to Cry toxins in lepidopteran pests

Hyperuricemia and chronic kidney disease: to treat or not to treat

Hyperuricemia is common in chronic kidney disease (CKD) and may be present in 50% of patients presenting for dialysis. Hyperuricemia can be secondary to impaired glomerular filtration rate (GFR) that occurs in CKD. However, hyperuricemia can also precede the development of kidney disease and predict incident CKD. Experimental studies of hyperuricemic models have found that both soluble and crystalline uric acid can cause significant kidney damage, characterized by ischemia, tubulointerstitial fibrosis, and inflammation. However, most Mendelian randomization studies failed to demonstrate a causal relationship between uric acid and CKD, and clinical trials have had variable results. Here we suggest potential explanations for the negative clinical and genetic findings, including the role of crystalline uric acid, intracellular uric acid, and xanthine oxidase activity in uric acid-mediated kidney injury. We propose future clinical trials as well as an algorithm for treatment of hyperuricemia in patients with CKD

La vid silvestre en México. Actualidades y potencial

En ocho capítulos se aborda el estado del arte de la vid silvestre en MéxicoEl estudio de las especies vegetales nativas de México representa un reto que cada día más investigadores mexicanos asumen. Durante muchos años, el apoyo a la investigación pública ha sido mínimo; desde el punto de vista agronómico es insuficiente para avanzar a la velocidad que requiere nuestro país para afrontar problemas de producción y distribución de alimentos. Por esa razón, entre otras, me es grato presentar esta obra que compila parte de los trabajos de la Red de Vid Silvestre patrocinada por el Sistema Nacional de Recursos Fitogenéticos (sinarefi) dependiente de la sagarpa; trabajos apuntalados por investigadores que sin pertenecer a la red han colaborado en el estudio de las plantas del género Vitis. En este libro se muestra el potencial del país para aprovechar el recurso vid, empleado desde antes de la conquista española por nativos mexicanos que conocían sus bondades. Es necesario continuar el avance en el conocimiento de este recurso, por ello el presente libro pretende invitar a toda persona interesada en contribuir con el rescate y conservación de las vides mexicanas. Los autores y editores, así como las instituciones en donde laboramos y aquellas que patrocinan estas investigaciones, esperamos se cumpla este objetivo y que el lector, alumno, profesor, investigador, público en general, disfrute esta lectura y, sobre todo, se interese en el recurso VitisSEP, SINAREFI, UAEME