Trade and the Environment in Latin America: Examining the Linkage with the USA

This paper investigates how trade of "dirty" goods with the USA can affect the environmental pollution in Latin American (LA). By controlling for trade openness, the share of manufacturing in GDP, and the trade of pollution-intensive products with USA, CO2 emissions are estimated for 14 LA countries between 1986 and 1999. Our results show that increasing exports of "dirty" products to the USA tends to raise CO2 emissions in LA countries, while the opposite results occur for growing imports of those goods from the USA. Since the effect of "dirty" imports from the USA is larger than the effect of "dirty" exports to the USA, our results indicate that the trade of "dirty" products with the USA on the whole reduces CO2 emissions in LA countries during the estimation period.Trade Pollution Environmental Kuznets curves Inter-American relationship

Exchange rate pass-through and strategic pricing: Evidence from Japanese imports of DRAMs

This paper analyzes oligopolistic rivalry among source countries to evaluate the degree of exchange-rate pass-through. The analysis of Japanese imports of DRAMs also contributes to the study of the pass-through of relatively homogenous goods produced in emerging countries, which has been analyzed in very few papers. Comparison between traditional OLS estimates, which take competitors' pricing behavior as exogenously given, and GMM estimates, which fully endogenize the rivals'' pricing behavior, indicates the misspecification in the OLS estimates and the need to endogenize pricing behavior. The results also show that the degree of pass-through estimated by GMM is lower than that estimated by OLS, and that prices are strategic complements between the following pairs of countries Korea and Taiwan, Taiwan and Singapore, and Singapore and the US.Exchange rate pass-through Oligopoly International trade

An Empirical Study on Stock Price Responses to the Release of the Environmental Management Ranking in Japan

This paper investigates how stock prices respond to the release of the environmental management ranking by using a standard event study methodology. Examining top 30 manufacturing companies in the environmental management ranking published by Nihon Keizai Shimbun (Nikkei newspaper) from 1998 to 2005, we find that stock prices on the whole did not respond significantly to the release of the ranking within a three-day event window. Moreover, stock prices of companies that experienced a downgrade increased significantly, while those that experienced an upgrade decreased significantly.Corporate social responsibility

Effects of Oral Intervention on Fluctuations in Exchange Rates: Evidence from Japan 1995-2011

Abstract: This paper studies the effects of oral interventions on the JPY/USD rate between 1995 and 2011. Traditionally, monetary authorities have intervened directly in foreign exchange markets. In recent years, however, actual interventions have been supplemented or supplanted by “oral interventions†to influence market expectations. In the Japanese case, monetary authorities did not directly intervene in the market from 2005 to August 2010. They conducted actual interventions only five times between 2010 and 2012, though Japan has been noted for ongoing oral intervention in recent years. Prior studies examining the impact of oral interventions provide mixed results regarding their effectiveness. Our study attempts to contribute to the literature by focusing not only on the speaker of oral interventions, but also on the content of the statements released. Using the event study methodology, we find that market participants give great credence to announcements by monetary authorities that strike a decidedly positive or negative tone about current exchange rates. In addition, market participants give great credence to statements by speakers who actually conduct exchange rate policy, including staff from the Ministry of Finance and people affiliated with the Bank of Japan

How Large Creditors Affect Corporate Bond Prices through Creditor Coordination

We investigate the role of large creditors such as Japanese main banks in determining the prices of corporate bonds when creditors face coordination problems. We present a model in which a single large creditor and a group of small creditors independently decide whether to continue lending to a borrowing company without common knowledge of the company’s fundamentals. Our numerical calculations in the model show that when these fundamentals are good enough, corporate bond values fall as the information available to the large creditor deteriorates. However, when the fundamentals are bad enough, corporate bond values rise as the information available to the large creditor deteriorates. These results suggest that, for both the borrowing company and its bond holders, whether a better informed large creditor is beneficial or detrimental crucially depends on the strength of the company’s fundamentals

Intranasal sensitization with Blomia Tropicalis antigens induces allergic responses in mice characterized by elevated antigen-specific and non-specific serum ige and peripheral blood eosinophil counts

In order to evaluate the potential allergenicity of Blomia tropicalis (Bt) antigen, IgE production of both specific and non-specific for Bt antigen was monitored in BALB/c mice after exposure to the antigen by nasal route. It was evidenced that B. tropicalis contains a functional allergen in its components. The allergenic components, however, when administered intranasally without any adjuvant, did not function to induce IgE response within a short period. On the other hand, intranasal inoculation of Bt antigens augmented serum IgE responses in mice pretreated by a subcutaneous priming injection of the same antigens. Inoculation of Bt antigen without subcutaneous priming injections induced IgE antibody production only when the antigen was continuously administered for a long period of over 24 weeks. Even when the priming injection was absent, the Bt antigen inoculated with cholera toxin (CT) as a mucosal adjuvant also significantly augmented the Bt antigen-specific IgE responses depending on the dose of CT co-administered. The present study also demonstrated that Bt antigen/CT-inoculated mice showed increased non-specific serum IgE level and peripheral blood eosinophil rates without noticeable elevations of the total leukocyte counts. The immunoblot analysis demonstrated 5 main antigenic components reactive to IgE antibodies induced. These components at about 44-64 kDa position were considered to be an important candidate antigen for diagnosis of the mite-related allergy.Para avaliar a capacidade alergizante do antígeno da Blomia tropicalis (Bt) a produção de IgE específica e não específica a antígeno Bt foi monitorada em camundongos BALB/c após exposição ao antígeno por via nasal. Foi evidenciado que Bt contem um alérgeno funcional em seus componentes. Os componentes alergênicos entretanto, quando administrados por via intra-nasal, sem qualquer adjuvante, não induzem resposta IgE durante um pequeno período. Por outro lado, a inoculação intra-nasal de antígenos Bt aumentou a resposta sérica de IgE em camundongos pré-tratados por uma injeção inicial sensibilizante sub-cutânea aos mesmos antígenos. A inoculação do antígeno Bt sem as injeções sensibilizantes iniciais induziu a produção de anticorpos IgE somente quando o antígeno foi administrado de maneira contínua, por um período longo de mais de 24 semanas. Mesmo quando as injeções sensibilizantes iniciais foram ausentes, o antígeno Bt inoculado com a toxina de cólera (CT) como adjuvante mucoso também aumentou de maneira significante a resposta IgE antígeno específica do Bt dependendo da dose de CT administrada conjuntamente. O presente estudo também demonstrou que camundongos inoculados com antígeno Bt/CT mostram aumento do nível IgE não específico no soro e médias de eosinófilos no sangue periférico sem qualquer elevação da contagem total de leucócitos. A análise por Immunoblot demonstrou cinco principais componentes antigênicos reativos aos anticorpos IgE induzidos. Estes componentes na posição 44-64 kilodaltons foram considerados importantes antígenos-candidatos para o diagnóstico da alergia relacionada ao ácaro

Hyperbaric Oxygen Exposure Reduces Age-Related Decrease in Oxidative Capacity of the Tibialis Anterior Muscle in Mice

The effects of exposure to hyperbaric oxygen on the oxidative capacity of the skeletal muscles in mice at different ages were investigated. We exposed 5-, 34-, 55-, and 88-week-old mice to 36% oxygen at 950 mmHg for 6 hours per day for 2 weeks. The activities of succinate dehydrogenase (SDH), which is a mitochondrial marker enzyme, of the tibialis anterior muscle in hyperbaric mice were compared with those in age-matched mice under normobaric conditions (21% oxygen at 760 mmHg). Furthermore, the SDH activities of type IIA and type IIB fibers in the muscle were determined using quantitative histochemical analysis. The SDH activity of the muscle in normobaric mice decreased with age. Similar results were observed in both type IIA and type IIB fibers in the muscle. The decrease in the SDH activity of the muscle was reduced in hyperbaric mice at 57 and 90 weeks. The decreased SDH activities of type IIA and type IIB fibers were reduced in hyperbaric mice at 90 weeks and at 57 and 90 weeks, respectively. We conclude that exposure to hyperbaric oxygen used in this study reduces the age-related decrease in the oxidative capacity of skeletal muscles

A study of x-rays protection in a hip-joint radiography examination

幼小児を含めた若年者の股関節X線撮影検査においては鉛板などで生殖腺を防護して行うのが通常である。男性の場合は生殖腺は体外に露出しているので，それを鉛板で包むようにすればある程度目的は達成される。しかし，女性の場合，生殖腺は骨盤腔内に存在するため，卵巣及び子宮を防護でき診断目的領域にかからないように鉛板を成形し，腹壁上に置いて撮影する。X斬写真上ではグリッドで散乱線を除去しているため，鉛板の陰影がくっきりと撮影され，生殖腺は完全に防護されているように見える。しかし，体内では散乱線によるかなりの被曝があるものと考えられる。そこで今回，鉛板下の散乱線量を鉛板幅及び電圧を変化させ，ファントム内各深さの散乱線量を測定した。その結果，鉛板下の散乱線量が相当量認められ，その量は深さ3～4cmでピークを形成した。鉛板幅による変化は幅が狭いほど線量は大きくなり，電圧による変化は60kVと80kVを比べると80kVの方が多くなった。これを鉛板なしの場合と比較すると，ファントム内意さが増すにしたがい増大した。したがって，臨床において鉛板がずれて再撮影をすることのないよう細心の注意が必要であると考えられた。Usually in a hip-joint radiographic examination for the youth including children, the gonads should be well protected with an appropriate lead shield etc. Since the male gonads are in the outside of the body, if covered with a lead shield, the shield can protect them. However, in the case of the female, since the gonads of exist in a pelvic cavity, the lead shield is cut to a specific pattern so that it can protect the ovaries and the womb, and it is set on the abdomen during the radiographic exposure. Since the scattered radiation on an X-ray film can be removed with the grid, the image of a lead shield is obtained clearly, and the gonads seem to be protected completely. The shield can not protect the gonads of the female from the scattered radiation, though it protects them almost completely from the primary X-rays beam. Therefore, the gonads have radioactive contamination from scattered radiation. Then, in order to estimate the amount of scattered radiation under the lead shield, the dose under the shield was measured by using a phantom in this research, changing lead shield width, the tube-voltage, and the monitoring depth of a phantom. As a results, the dose under the lead shield was observed considerably and showed the peak at the depth of 3 or 4cm. Therefore, it was thought that a careful caution was required for obviating lead shield in clinical

PGC-1α mRNA Level and Oxidative Capacity of the Plantaris Muscle in Rats with Metabolic Syndrome, Hypertension, and Type 2 Diabetes

We examined the fiber profiles and the mRNA levels of peroxisome proliferator-activated receptors (PPARα and PPARδ/β) and of the PPARγ coactivator-1α (PGC-1α) in the plantaris muscles of 15-week-old control (WR), metabolic syndrome (CP), hypertensive (SHR), and type 2 diabetic (GK) rats. The deep regions in the muscles of SHR and GK rats exhibited lower percentages of high-oxidative type I and IIA fibers and higher percentages of low-oxidative type IIB fibers compared with WR and CP rats. The surface regions in the muscles of CP, SHR, and GK rats exhibited lower percentages of high-oxidative type IIA fibers and higher percentages of low-oxidative type IIB fibers compared with WR rats. The muscles of SHR and GK rats had lower oxidative enzyme activity compared with WR rats. The muscles of SHR rats had the lowest PPARδ/β mRNA level. In addition, the muscles of SHR and GK rats had lower PGC-1α mRNA level compared with WR and CP rats. We concluded that the plantaris muscles of rats with hypertension and type 2 diabetes have lower oxidative capacity, which is associated with the decreased level of PGC-1α mRNA

Biphasic Aire expression in early embryos and in medullary thymic epithelial cells before end-stage terminal differentiation

The roles of autoimmune regulator (Aire)–expressing medullary thymic epithelial cells (mTECs) in the organization of the thymic microenvironment for establishing self-tolerance are enigmatic. We sought to monitor the production and maintenance of Aire-expressing mTECs by a fate-mapping strategy in which bacterial artificial chromosome transgenic (Tg) mice expressing Cre recombinase under the control of the Aire regulatory element were crossed with a GFP reporter strain. We found that, in addition to its well recognized expression within mature mTECs, Aire was expressed in the early embryo before emergence of the three germ cell layers. This observation may help to explain the development of ectodermal dystrophy often seen in patients with AIRE deficiency. With the use of one Tg line in which Cre recombinase expression was confined to mTECs, we found that Aire+CD80high mTECs further progressed to an Aire−CD80intermediate stage, suggesting that Aire expression is not constitutive from after its induction until cell death but instead is down-regulated at the beginning of terminal differentiation. We also demonstrated that many mTECs of Aire-expressing lineage are in close contact with thymic dendritic cells. This close proximity may contribute to transfer of tissue-restricted self-antigens expressed by mTECs to professional antigen-presenting cells