Macroprudential Policy under Incomplete Information

In this paper, we use a DSGE model to study the passive and time-varying implementation of macroprudential policy when policy-makers have noisy and lagged data. The model features an economy with two agents; households and entrepreneurs. Entrepreneurs are the borrowers in this economy and need capital as collateral to obtain loans. The macroprudential regulator uses the collateral requirement as the policy instrument. In this setup , we compare policy performances of permanently increasing the collateral requirement (passive policy) versus a time-varying (active) policy which responds to credit developments. Results show that with perfect and timely information, an active approach is welfare superior, since it is more e¤ective in providing …nancial stability with no long-run output cost. If the policy-maker is not able to observe the economic conditions perfectly or observe with a lag, a cautious (less aggressive) policy or even a passive approach may be preferred. However, the latter comes at the expense of increasing inequality and a long-run output cost, which could outweigh their macroeconomic and …nancial stability bene…ts

The function of poliamine metabolism in prostate cancer

In many developed countries prostate cancer is the second leading cause of cancer related death in human population. Prostate tissue is characterized by the highest level of polyamines among organs in human body, and it is even higher in prostate carcinomas. These ubiquitous molecules are synthesized by prostate epithelium and are involved in many biochemical processes including cell proliferation, cell cycle regulation and protein synthesis. In this review we made the attempt to discuss the functions of polyamines, their involvement in apoptosis and potential role as molecular biomarker for prostate cancer. Also we present recent data on generation of drugs, in particular, cyclin dependent kinase inhibitor, developed for therapy of prostate cancer.Во многих развитых странах рак предстательной железы занимает первое место как причина смертности вследствие онкологических заболеваний. Ткань предстательной железы характеризуется наиболее высоким уровнем содержания полиаминов в сравнении с другими органами человека, причем в ткани карциномы простаты их содержание еще выше. Эти биомолекулы синтезируются эпителиальными клетками предстательной железы и принимают участие во многих биохимических процессах, включая пролиферацию клеток, регуляцию клеточного цикла и синтез белков. В обзоре обсуждаются функции полиаминов в клетке, их участие в процессах апоптоза и потенциальная роль в качестве биомаркеров при раке предстательной железы. Кроме того, приведены новые данные о разработке препаратов, в частности ингибитора циклинзависимой киназы, предназначенных для лечения рака предстательной железы

Non-Perturbative Planar Equivalence and the Absence of Closed String Tachyons

We consider 'orbifold' and 'orientifold' field theories from the dual closed string theory side. We argue that a necessary condition for planar equivalence to hold is the absence of a closed string tachyonic mode in the dual non-supersymmetric string. We analyze several gauge theories on R3xS1. In the specific case of U(N) theories with symmetric/anti-symmetric fermions ('orientifold field theories') the relevant closed string theory is tachyon-free at large compactification radius (due to winding modes), but it develops a tachyonic mode below a critical radius. Our finding is with agreement with field theory expectations of a phase transition from a C-parity violating phase to a C-parity preserving phase as the compactification radius increases. In the case of U(N)xU(N) theories with bi-fundamental matter ('orbifold field theories') a tachyon is always present in the string spectrum, at any compactification radius. We conclude that on R4 planar equivalence holds for 'orientfiold field theories', but fails for 'orbifold field theories' daughters of N=4 SYM and suggest the same for daughters of N=1 SYM. We also discuss examples of SO/Sp gauge theories with symmetric/anti-symmetric fermions. In this case planar equivalence holds at any compactification radius -in agreement with the absence of tachyons in the string dual.Comment: 14 pages, Latex. 3 eps figures. v2: ref. added. v3: clarifying sentences added in the abstract and at the end of section 4. version accepted to JHE

Deconstruction and other approaches to supersymmetric lattice field theories

This report contains both a review of recent approaches to supersymmetric lattice field theories and some new results on the deconstruction approach. The essential reason for the complex phase problem of the fermion determinant is shown to be derivative interactions that are not present in the continuum. These irrelevant operators violate the self-conjugacy of the fermion action that is present in the continuum. It is explained why this complex phase problem does not disappear in the continuum limit. The fermion determinant suppression of various branches of the classical moduli space is explored, and found to be supportive of previous claims regarding the continuum limit.Comment: 70 page

Preferential binding of ATR protein to UV-damaged DNA

The ATR protein is a member of the phosphoinositide 3-kinase-related kinase family and plays an important role in UV-induced DNA damage checkpoint response. Its role as a signal transducer in cell cycle checkpoint is well established, but it is currently unclear whether ATR functions as a damage sensor as well. Here we have purified the ATR protein and investigated its interaction with DNA by using biochemical analysis and electron microscopy. We find that ATR is a DNA-binding protein with higher affinity to UV-damaged than undamaged DNA. In addition, damaged DNA stimulates the kinase activity of ATR to a significantly higher level than undamaged DNA. Our data suggest that ATR may function as an initial sensor in the DNA damage checkpoint response

Fiber-Reinforcement of Binder-Jetted Casting Molds for Multiple Usag

Widely used sand casting with lost molds is an efficient and cost-effective way of producing geometrically complex components. As the demand for sand has tripled over the last two decades, finding new solutions for thermostable binder systems and ensuring the efficient use of resources is essential. To address this issue, the REINFORCED SAND project is exploring glass fiber-reinforced sand molds and temperature-stable inorganic binders within the binder-jetting process. The aim is to improve the mechanical properties of the D-printed casting molds to make multiple uses of these possible, reducing resource consumption and increasing profitability. For this purpose, various material systems and manufacturing parameters were examined. It has been demonstrated that fiber-reinforced sand molds can be used for multiple castings, and fibers can be principally processed in the binder jetting process. These efforts aim to make sand casting production more environmentally friendly and sustainable. The REINFORCED SAND project is a step towards achieving these goals.Mechanical Engineerin

What can we learn from the implementation of monetary and macroprudential policies: a systematic literature review

The emergence of macroprudential policies, implemented by central banks as a means of promoting financial stability, has raised many questions regarding the interaction between monetary and macroprudential policies. Given the limited number of studies available, this paper sheds light on this issue by providing a critical and systematic review of the literature. To this end, we divide the theoretical and empirical studies into two broad channels of borrowers - consisting of the cost of funds and the collateral constraint - and financial intermediaries - consisting of risk-taking and payment systems. In spite of the existing ambiguity surrounding coordination issues between monetary and macroprudential policies, it is argued that monetary policy alone is not sufficient to maintain macroeconomic and financial stability. Hence, macroprudential policies are needed to supplement monetary. Additionally, we find that the role of the exchange rate is critical in the implementation of monetary and macroprudential policies in emerging markets, whilst volatile capital flows pose another challenge. In so far as how the arrangement of monetary and macroprudential policies varies across countries, key theoretical and policy implications have been identified

Integrable Spin Chains on the Conformal Moose

We consider N=1, D=4 superconformal U(N)^{pq} Yang-Mills theories dual to AdS_5xS^5/Z_pxZ_q orbifolds. We construct the dilatation operator of this superconformal gauge theory at one-loop planar level. We demonstrate that a specific sector of this dilatation operator can be thought of as the transfer matrix for a two-dimensional statistical mechanical system, related to an integrable SU(3) anti-ferromagnetic spin chain system, which in turn is equivalent to a 2+1-dimensional string theory where the spatial slices are discretized on a triangular lattice. This is an extension of the SO(6) spin chain picture of N=4 super Yang-Mills theory. We comment on the integrability of this N=1 gauge theory and hence the corresponding three-dimensional statistical mechanical system, its connection to three-dimensional lattice gauge theories, extensions to six-dimensional string theories, AdS/CFT type dualities and finally their construction via orbifolds and brane-box models. In the process we discover a new class of almost-BPS BMN type operators with large engineering dimensions but controllably small anomalous corrections.Comment: 53 pages, 14 eps figures; Added reference