Japan's internal debt

Does internal debt matter? Japan's yen-denominated public debt now totals 140% of GDP, and this number continues to rise rapidly. What constraints will this growing debt finally encounter? I argue that finance can postpone but not eliminate payments owed by the government to the private sector. The combination of continuing Keynsian budget deficits, bleeding banks, overleveraged municipalities and massive pension liabilities will ultimately bring into question the credibility of the government's many promises. The result could be a massive issuance of new currency

Can the Euro Be Saved?

A sovereign debt crisis in the eurozone has morphed into a crisis of the euro itself, revealing three deep flaws in the euro’s design. Escalating inter‐country debt is the predictable result of locking together the currencies of countries as different as Germany and Greece. There is no governance structure to make binding decisions about debt restructuring. Most importantly, the ECB itself holds so many risky assets that it is frightened at the otherwise logical solution of debt restructuring. Only radical action could save the common currency

On memories, neural ensembles and mental flexibility

Memories are assumed to be represented by groups of co-activated neurons, called neural ensembles. Describing ensembles is a challenge: complexity of the underlying micro-circuitry is immense. Current approaches use a piecemeal fashion, focusing on single neurons and employing local measures like pairwise correlations. We introduce an alternative approach that identifies ensembles and describes the effective connectivity between them in a holistic fashion. It also links the oscillatory frequencies observed in ensembles with the spatial scales at which activity is expressed. Using unsupervised learning, biophysical modeling and graph theory, we analyze multi-electrode LFPs from frontal cortex during a spatial delayed response task. We find distinct ensembles for different cues and more parsimonious connectivity for cues on the horizontal axis, which may explain the oblique effect in psychophysics. Our approach paves the way for biophysical models with learned parameters that can guide future Brain Computer Interface development

Appraising infrastructure for new towns in Ireland

Copyright © 2013 ICE Publishing Ltd. Permission is granted by ICE Publishing to print one copy for personal use. Any other use of these PDF files is subject to reprint fees.Over a 20 year period 1996–2016, a new 223 ha town is being developed 10 miles west of Dublin's city centre on the south side of Lucan, County Dublin, in the Republic of Ireland (ROI). This €4 billion ‘Adamstown’ development is the first of four planning schemes in ROI to be approved as a strategic development zone – an integrated planning framework deemed suitable for creating sustainable neighbourhoods in sites of strategic economic or social importance to the state. The creation of sustainable neighbourhoods in ROI is facilitated through the implementation of a checklist of 60 indicators. This paper critically examines the attempts being made to consider sustainability within the development's overall infrastructure plan, specifically: transport, energy and water services, information technology and waste. Inadequacies in the existing development are linked to shortfalls in the sustainability checklist, by way of a comparison of infrastructure-related indicators from the ROI checklist with those derived for the UK and exemplar European projects (i.e. Bedzed, UK and Freiberg, Germany). The subsequent legacy for future residents of Adamstown is then considered in the context of ‘what if’ scenarios

The genetic basis of endometriosis and comorbidity with other pain and inflammatory conditions

Endometriosis is a common condition associated with debilitating pelvic pain and infertility. A genome-wide association study meta-analysis, including 60,674 cases and 701,926 controls of European and East Asian descent, identified 42 genome-wide significant loci comprising 49 distinct association signals. Effect sizes were largest for stage 3/4 disease, driven by ovarian endometriosis. Identified signals explained up to 5.01% of disease variance and regulated expression or methylation of genes in endometrium and blood, many of which were associated with pain perception/maintenance (SRP14/BMF, GDAP1, MLLT10, BSN and NGF). We observed significant genetic correlations between endometriosis and 11 pain conditions, including migraine, back and multisite chronic pain (MCP), as well as inflammatory conditions, including asthma and osteoarthritis. Multitrait genetic analyses identified substantial sharing of variants associated with endometriosis and MCP/migraine. Targeted investigations of genetically regulated mechanisms shared between endometriosis and other pain conditions are needed to aid the development of new treatments and facilitate early symptomatic intervention

The genetic basis of endometriosis and comorbidity with other pain and inflammatory conditions

Endometriosis is a common condition associated with debilitating pelvic pain and infertility. A genome-wide association study meta-analysis, including 60,674 cases and 701,926 controls of European and East Asian descent, identified 42 genome-wide significant loci comprising 49 distinct association signals. Effect sizes were largest for stage 3/4 disease, driven by ovarian endometriosis. Identified signals explained up to 5.01% of disease variance and regulated expression or methylation of genes in endometrium and blood, many of which were associated with pain perception/maintenance (SRP14/BMF, GDAP1, MLLT10, BSN and NGF). We observed significant genetic correlations between endometriosis and 11 pain conditions, including migraine, back and multisite chronic pain (MCP), as well as inflammatory conditions, including asthma and osteoarthritis. Multitrait genetic analyses identified substantial sharing of variants associated with endometriosis and MCP/migraine. Targeted investigations of genetically regulated mechanisms shared between endometriosis and other pain conditions are needed to aid the development of new treatments and facilitate early symptomatic intervention

Emerging financial markets/ Beim

xix, 364 hal. : ill. ; 25 cm