Negative Interest Rate Policies: Sources and Implications

Against the background of continued growth disappointments, depressed inflation expectations, and declining real equilibrium interest rates, a number of central banks have implemented negative interest rate policies (NIRP) to provide additional monetary policy stimulus over the past few years. This paper studies the sources and implications of NIRP. We report four main results. First, monetary transmission channels under NIRP are conceptually analogous to those under conventional monetary policy but NIRP present complications that could limit policy effectiveness. Second, since the introduction of NIRP, many of the key financial variables have evolved broadly as implied by the standard transmission channels. Third, NIRP could pose risks to financial stability, particularly if policy rates are substantially below zero or if NIRP are employed for a protracted period of time. Potential adverse consequences include the erosion of profitability of banks and other financial intermediaries, and excessive risk taking. However, there has so far been no significant evidence that financial stability has been compromised because of NIRP. Fourth, spillover implications of NIRP for emerging market and developing economies are mostly similar to those of other unconventional monetary policy measures. In sum, NIRP have a place in a policy maker's toolkit but, given their domestic and global implications, these policies need to be handled with care to secure their benefits while mitigating risks

Physical, cognitive, social and mental health in near-centenarians and centenarians living in New York City: findings from the Fordham Centenarian Study

BACKGROUND: Despite their strong increase, the population of the very old, including near-centenarians and centenarians, represent an unstudied and underserved population. Available studies mostly concentrate on predictors of exceptional longevity, but rarely extend their focus to other areas of functioning. Also, little is known about what contributes to experiencing a quality life in very old age. The present population-based study aims at providing a comprehensive picture of key domain of functioning, including physical, cognitive, social and mental function in very old individuals and to determine predictors of mental health indicators. METHODS: A total of 119 individuals aged 95 to 107 living in private dwellings and residential care facilities were recruited based on the New York City Voters Registry. Participants answered questions regarding their health and activities of daily living. Their cognitive functioning was determined using the Mini-Mental State Examination and the Global Deterioration Scale. Social resources were measured with number of children and the Lubben Scale. Mental health was assessed with the Geriatric Depression Scale and the Satisfaction with Life Scale. RESULTS: An unexpectedly large proportion of the sample lived in the community. On average, cognitive functioning was high. Although five diseases were reported on average, participants reported good health. Functional status was reduced. Most participants had at least one person for communication/social support. On average, depression was below cut-off, and most participants reported high life satisfaction. Regression analyses indicated that individual differences in depression were associated with subjective health, IADL and relatives support. For life satisfaction, subjective health, ADL and number of children were most important. Demographic characteristics, number of illnesses or cognitive status were not significant. CONCLUSIONS: Despite reduced levels of physical functioning and social resources, very old participants were in good mental health suggesting high resilience and ability to adapt to age-associated challenges. That a large proportion of them lived in the community further highlights their desire for leading an autonomous life, which may have been facilitated by New York service culture. More research is necessary to provide guidance for the development of well-suited services for this very old population

An Overview of Computer Power for JSC Facilities

Techniques and devices used by the National Aeronautics and Space Administration (NASA) at the Johnson Space Center (JSC) to provide and maintain a quality power distribution system are discussed. Quality power is essential to support the array of facilities and functions involved in planning, developing, testing, and controlling a major portion of this nation's space exploration program. An overview is provided of the distribution system and components. Discussions address the criticality of the complex and computers in particular, the disturbance immunity of the hardware, and the redundancy of the systems. No attempt is made to draw absolute comparisons between the various types of power conditioners and their derivatives on the market today. Rather, an explanation is given of the rationale used at JSC to select the equipment and the circuit configurations that have proven to provide the required power quality and reliability. Because that level of power quality is sustained only through well planned and executed operation and maintenance activities, a description of JSC's program is also given

[Co(bppz)₂](ClO₄)₂·MeOH: a new 2,6-bis(pyrazol-1-yl)pyrazine complex

n/

Cal-4, A Structural Study Of A Dual Templated Chabazite-type Silicoaluminophosphate

CAL-4 is a member of a novel family of SAPOs, which can be prepared from the layered precursor n-butylammonium ALPO-kanemite (nBA ALPO-kan). The usage of a layered starting material was found to have a profound influence on product morphology, acid strength and catalytic site distribution. The crystal structure of the novel chabazite-type material CAL-4 displays a layered organization of the SDAs, which may be responsible for an unusual plate-like particle shape. It is predicted that the morphology of the crystallites can be designed by choosing suitable SDAs. © 2008 Elsevier B.V. All rights reserved.174B917920Cheng, S.F., Tzeng, J.N., (1997) B. Y. Hsu Chem. Mater., 9, p. 1788Martins, G.A.V., Pastore, H.O., (2005) Stud. Surf. Sci. Catal., 158, p. 335H.O. Pastore, G.A.V. Martins, M. Strauss, L.G. Pedroni, G.B. Superti, E.C. de Oliveira, G. Gatti and L. Marchese, Micropor. Mesopor. Mater., in pressWilson, S.T., Flanigen, E.M., (1988) ACS Symp. Ser., 398, p. 329Gieck, C., Bisio, C., Marchese, L., Filinchuk, Y., da Silva, C.E., Pastore, H.O., (2007) Angew. Chem. Int. Ed., 46, p. 889

One Step Further in Understanding the Role of Hydrogen Bonds in Directing the Synthesis of CHA Analogue Molecular Sieves

In this work, the synthesis of CAL-4, a SAPO-44 structural analogue, is studied. This silicoaluminophosphate molecular sieve was prepared starting from the layered aluminophosphate n-butylammonium-AlPO-kanemite with the addition of silica and cyclohexylamine (CyHA). SAPO-44 was prepared using the conventional procedure and independent sources of silicon, aluminum, and phosphorus and the same structure-directing agent (CyHA). The materials prepared were compared in Fourier transform infrared (FTIR) light that showed the presence of CyHA and n-butylammonium (n-BA) in the chabasite cavities of CAL-4, while only CyHA was found in SAPO-44. No interaction between the codirecting agents CyHA and n-BA was detected by a Fourier transform infrared spectroscopy and single-crystal X-ray diffraction (XRD) combined study, contrary to what was found previously in another member of the same family of SAPO molecular sieves (Angew. Chem., Int. Ed. 2007, 46, pp 8895-8897). This study proposes that the H bond interaction of protonated CyHA with framework oxygen atoms through NH(3)(+) groups prevented the formation of a supramolecular arrangement with n-BA and, thus, probably led to the formation of this particular chabasite analogue. This paper represents another step toward understanding the role of host-guest and/or guest-guest interactions in directing the synthesis of molecular sieves. The three cases studied here provide clear evidence of the key role of H bonds between structure-directing agent (SDA) amines and their framework in driving the synthesis toward a defined structure.113241067510680European CommissionFundacao de Amparo Pesquisa no Estado de Sao Paul

Synthesis, characterization and in vitro cytotoxicity of palladium(II) complexes with mixed ligands: X-ray diffraction study of C31H36ClNPPdS2

Pd(II) complexes with organophosphines and dithiocarbamates derivatives of α-amino acids were synthesized by reacting N,N-dicyclohexyldithiocarbamate (DCHDTC, compounds 1–3) and N-methylcyclohexyldithiocarbamate (MCHDTC, compounds 4–6) with (R3P)2PdCl2 (R = Ph, o-tolyl, Ph2Cl) in a 1:1 molar ratio. The complexes were characterized by elemental analyses, FT-IR, multinuclear (1H, 13C and 31P) NMR and single X-ray crystallography, showing that the dithiocarbamate acts as a bidentate ligand and binds to Pd(II) via two sulfur atoms, resulting in a square planar geometry around Pd(II). The cytotoxicity of compounds 2, 3 and 4 was determined in vitro against six human tumour cell lines, MCF7, EVSA-T, WIDR, IGROV, M19 MEL, A498 and H226. Compounds 3 and 4 showed a moderate to low cytotoxicity, whereas compound 2 exhibited a very low cytotoxicity. The results of antifungal assays showed that compounds 1–6 possess antifungal activity against Fusarium moniliformes, Fusarium saolani, Mucor sp. Aspergillus niger and Aspergillus fumigatus. The anti-inflammatory screening results of 1–6 are quite similar to those observed for the standard drug Declofenac at 10 mg kg−1, which inhibited the odema by 74% after 4 h. Copyright © 2007 John Wiley & Sons, Ltd.FLWINinfo:eu-repo/semantics/publishe