Opposites attract: The case of Greek and Turkish financial markets

We investigate the presence of financial linkages between Turkey and Greece. In particular, we estimate bivariate vector error correction systems between the Greek and Turkish stock markets and then between the Greek Drachma and the Turkish Lira to test for long and short run causality and interdependence. The findings indicate that interdependence and a long-run causal relationship are indeed present. Given the apparent evidence for nominal linkages, we test a number of possible propagation mechanisms that could produce these linkages, such as real linkages, trade linkages, common balance of payments shocks, and contagion. Our findings suggest that the observed comovement of the two markets can be primarily attributed to the increased real integration of both countries, as well as the fact that they share a common set of trade and FDI partners. We also find evidence of contagion effects between the Drachma and Lira markets, but not between the stock markets. Finally, we conclude with a discussion of the implications of our findings. --Cointegration,Contagion,Interdependence,Market Linkages

Regional effects of terrorism on tourism: Evidence from three Mediterranean countries

A consumer-choice model developed by Enders, Sandler and Parise (1992) is utilized to study the regional effects of terrorism on competitors’ market shares in tourism sector where involved countries enjoy significant tourism activities but are subject to high frequency of terrorist attacks. The theoretical model is tested for three Mediterranean countries, namely Greece, Israel, and Turkey, for the period from January 1996 to December 1999, using the seemingly unrelated regression model. Italy is used as a control variable in estimations, acting as a proxy for tourist activities in the rest of the Mediterranean region and providing an additional destination for tourists to visit. Evidence indicates that the tourism industry in Israel and Turkey are more sensitive to terrorism incidents than in Greece. There are also significant regional contagion effects of terrorism. We find that a higher level of terrorist incidents in Greece is associated with an increase in the relative market share of Israel in the region, while terrorism in Israel benefits Turkey’s market share. We also document evidence that the location (urban versus rural) and the intensity of terrorist incidents play an important role in the decision-making process of tourists for choice of destinations. Policy implications of our findings are also discussed. --Terrorism,Mediterranean tourism,time series,seemingly unrelated regression

Regional effects of terrorism on tourism: Evidence from three Mediterranean countries

A consumer-choice model developed by Enders, Sandler and Parise (1992) is utilized to study the regional effects of terrorism on competitors’ market shares in tourism sector where involved countries enjoy significant tourism activities but are subject to high frequency of terrorist attacks. The theoretical model is tested for three Mediterranean countries, namely Greece, Israel, and Turkey, for the period from January 1996 to December 1999, using the seemingly unrelated regression model. Italy is used as a control variable in estimations, acting as a proxy for tourist activities in the rest of the Mediterranean region and providing an additional destination for tourists to visit. Evidence indicates that the tourism industry in Israel and Turkey are more sensitive to terrorism incidents than in Greece. There are also significant regional contagion effects of terrorism. We find that a higher level of terrorist incidents in Greece is associated with an increase in the relative market share of Israel in the region, while terrorism in Israel benefits Turkey’s market share. We also document evidence that the location (urban versus rural) and the intensity of terrorist incidents play an important role in the decision-making process of tourists for choice of destinations. Policy implications of our findings are also discussed

On the Determinants of Terrorism Risk Concern in Europe

We investigate whether differences in terrorism risk are mirrored on terrorism risk concern across European countries for the period 2003-2007. We find that the average propensity for terrorism risk concern is indeed affected by actual risk levels. Furthermore, country and individual heterogeneity contribute substantially to the variation of observed risk concern. According to our findings, males, singles and individuals with white collar jobs are less likely to mention terrorism as one of the most pressing issues their country faces. In contrast, political positioning towards the right end of the spectrum and living in rural areas make it more likely to be concerned about terrorism. As far as competing risks are concerned, we find that the likelihood terrorism is mentioned increases when competing risks' drivers also increase such as taxation, inflation, unemployment and poverty risk at work. In contrast, terrorism is less likely to be mentioned when the determinants of crime, immigration rates, housing costs and pensions are higher. Finally, based on the Bayesian framework we also examine the formation of terrorism risk perceptions, and decompose the observed country level time series of terrorism activity into a long and a short run component. We conclude that the observed risk concern variation is mostly explained by the trend part of terrorism activity countries face, although cyclical variations are also important

Terrorism Risk Concern in Europe

We explore whether differences of terrorism risk perception across all European countries reflect their underlying differences in terrorism risk, which we decompose into a long term and innovation component. We employ longitudinal country-level data on terrorism risk concern and our modeling approach is motivated by the Bayesian framework. We conclude that the observed risk perception variation is significantly explained by the long term terrorism countries face, while the cyclical part of terrorism activity does not affect risk perception

How Rational Is the Response of Individuals to the Threat of Terrorism in Europe?

In this Policy Briefing, we address two important questions. We look at the drivers of concern about terrorism and find that beyond individual characteristics, it is also affected by the occurrence of terrorism. When distinguishing between permanent and transitory terrorism, the first has a much stronger impact than the first. The second question concerns how terrorism affects the policy preferences of voters. We find that while a higher level of terrorist concern does increase people's willingness to trade off civil liberties for more security, a singular attack has only a temporary effect. After only a few months, people's preferences return towards their pre-attack levels

A p53-independent role for the MDM2 antagonist Nutlin-3 in DNA damage response initiation.

BACKGROUND: The mammalian DNA-damage response (DDR) has evolved to protect genome stability and maximize cell survival following DNA-damage. One of the key regulators of the DDR is p53, itself tightly regulated by MDM2. Following double-strand DNA breaks (DSBs), mediators including ATM are recruited to the site of DNA-damage. Subsequent phosphorylation of p53 by ATM and ATM-induced CHK2 results in p53 stabilization, ultimately intensifying transcription of p53-responsive genes involved in DNA repair, cell-cycle checkpoint control and apoptosis. METHODS: In the current study, we investigated the stabilization and activation of p53 and associated DDR proteins in response to treatment of human colorectal cancer cells (HCT116p53+/+) with the MDM2 antagonist, Nutlin-3. RESULTS: Using immunoblotting, Nutlin-3 was observed to stabilize p53, and activate p53 target proteins. Unexpectedly, Nutlin-3 also mediated phosphorylation of p53 at key DNA-damage-specific serine residues (Ser15, 20 and 37). Furthermore, Nutlin-3 induced activation of CHK2 and ATM - proteins required for DNA-damage-dependent phosphorylation and activation of p53, and the phosphorylation of BRCA1 and H2AX - proteins known to be activated specifically in response to DNA damage. Indeed, using immunofluorescent labeling, Nutlin-3 was seen to induce formation of γH2AX foci, an early hallmark of the DDR. Moreover, Nutlin-3 induced phosphorylation of key DDR proteins, initiated cell cycle arrest and led to formation of γH2AX foci in cells lacking p53, whilst γH2AX foci were also noted in MDM2-deficient cells. CONCLUSION: To our knowledge, this is the first solid evidence showing a secondary role for Nutlin-3 as a DDR triggering agent, independent of p53 status, and unrelated to its role as an MDM2 antagonist

Activation of the p53 pathway by the MDM2 inhibitor nutlin-3a overcomes BCL2 overexpression in a preclinical model of diffuse large B-cell lymphoma associated with t(14;18)(q32;q21)

p53 is frequently wild type (wt) in diffuse large B-cell lymphoma (DLBCL) associated with t(14;18)(q32;q21) that overexpresses BCL2. Nutlin-3a is a small molecule that activates the p53 pathway by disrupting p53–MDM2 interaction. We show that nutlin-3a activates p53 in DLBCL cells associated with t(14;18)(q32;q21), BCL2 overexpression and wt p53, resulting in cell cycle arrest and apoptosis. Nutlin-3a treatment had similar effects on DLBCL cells of activated B-cell phenotype with wt p53. Cell cycle arrest was associated with upregulation of p21. Nutlin-3a-induced apoptosis was accompanied by BAX and PUMA upregulation, BCL-XL downregulation, serine-70 dephosphorylation of BCL2, direct binding of BCL2 by p53, caspase-9 upregulation and caspase-3 cleavage. Cell death was reduced when p53-dependent transactivation activity was inhibited by pifithrin-α (PFT-α), or PFT-μ inhibited direct p53 targeting of mitochondria. Nutlin-3a sensitized activation of the intrinsic apoptotic pathway by BCL2 inhibitors in t(14;18)-positive DLBCL cells with wt p53, and enhanced doxorubicin cytotoxicity against t(14;18)-positive DLBCL cells with wt or mutant p53, the latter in part via p73 upregulation. Nutlin-3a treatment in a xenograft animal lymphoma model inhibited growth of t(14;18)-positive DLBCL tumors, associated with increased apoptosis and decreased proliferation. These data suggest that disruption of the p53–MDM2 interaction by nutlin-3a offers a novel therapeutic approach for DLBCL associated with t(14;18)(q32;q21)

Ryanodine Receptor Staining Identifies Viable Cardiomyocytes in Human and Rabbit Cardiac Tissue Slices

In terms of preserving multicellularity and myocardial function in vitro, the cultivation of beating myocardial slices is an emerging technique in basic and translational cardiac research. It can be used, for example, for drug screening or to study pathomechanisms. Here, we describe staining for viable cardiomyocytes based on the immunofluorescence of ryanodine receptors (RyRs) in human and rabbit myocardial slices. Biomimetic chambers were used for culture and measurements of contractile force. Fixable fluorophore-conjugated dextran, entering cells with a permeable membrane, was used for death staining. RyRs, nuclei and the extracellular matrix, including the t-system, were additionally stained and analyzed by confocal microscopy and image processing. We found the mutual exclusion of the RyR and dextran signals in cultivated slices. T-System density and nucleus size were reduced in RyR-negative/dextran-positive myocytes. The fraction of RyR-positive myocytes and pixels correlated with the contractile force. In RyR-positive/dextran-positive myocytes, we found irregular RyR clusters and SERCA distribution patterns, confirmed by an altered power spectrum. We conclude that RyR immunofluorescence indicates viable cardiomyocytes in vibratome-cut myocardial slices, facilitating the detection and differential structural analysis of living vs. dead or dying myocytes. We suggest the loss of sarcoplasmic reticulum integrity as an early event during cardiomyocyte death.</jats:p

COMPETENCES AND JOB OPPORTUNITIES OF ORGANIC MEDICINAL AND AROMATIC PLANTS DOMAIN DEVELOPED BY HERBAL.MEDNET PROJECT

Herbal.Mednet project aims to design an e-learning training program for advisors and trainers in the field of organic Medicinal and Aromatic Plants (MAPs) in order to equip them with knowledge, competences and skills necessary for providing a support and technical and managerial assistance to producers, processors and traders of organic medicinal and aromatic plants domain. The results showed that more than 65% of the participants are quite familiar with using competences to describe a job profile, hence the overall feedback is of high importance.Almost of all users respond that competences are very useful in the thematic area of organic MAPs.The most of survey participants (over 65%) already are familiar and use the competence to describe job opportunities, and believe that it is a useful tool. From the results, it can be seen that the competence list that is been identified and is being used by the Herbal.Mednet consortium, reflects the needs in the organic MAPs job profiles