Duration Analysis of Interest Rate Spells : Cross-National Study of Interest Rate Policy

A duration analysis is adopted in this study to investigate the determinants of the "interest rate spells" across ten countries (or area) . Both parametric and nonparametric methods are employed for the analysis. It is found that the length of "interest rate spells" is affected by both the rate of inflation and the rate of economic growth. In contrast, the influence of exchange and unemployment rates proved to be insignificant and the lagged interest rate is significant only for Denmark. The empirical results support the contention that central banks usually design their interest rate policies based on the Taylor Rule.Duration Analysis, Taylor Rule, Parametric Models, Nonparametric Models

Security boundaries of an optical power limiter for protecting quantum key distribution systems

Unauthorized light injection has always been a vital threat to the practical security of a quantum key distribution (QKD) system. An optical power limiter (OPL) based on the thermo-optical defocusing effect has been proposed and implemented, limiting the injected hacking light. As a hardware countermeasure, the performance of the OPL under various light-injection attacks shall be tested to clarify the security boundary before being widely deployed. To investigate the OPL's security boundary in quantum cryptography, we comprehensively test and analyse the behavior of OPL under continuous-wave (c.w.) light-injection attacks and pulse illumination attacks with pulses' repetition rate at 0.5-Hz,40-MHz, and 1-GHz. The testing results illuminate the security boundary of the OPL, which allows one to properly employ the OPL in the use cases. The methodology of testing and analysis proposed here is applicable to other power-limitation components in a QKD system.Comment: 14 pages, 13 figure

Effects of pore structure characteristics on performance of sintered bi-porous Ti3AlC2 wicks

Loop heat pipe, carried out by liquid-gas phase transition, has been attracted as an efficient heat management device in high-heat-flux, long-distance and anti-gravity situations. The capillary pressure provided by the porous wick in the evaporator drives circulation for working liquid, affecting the heat exchange efficiency for loop heat pipes directly. In this work, the bi-porous Ti _3 AlC _2 wick was produced by reaction sintering and pore formers dissolution and porosity and pore size were regulated by varying pore formers content and cold pressure. The pore size distribution was characterized by mercury intrusion and effects on capillary performance and thermal conductivity were also analyzed. The porosity and proportion of large pores increased with the increased pore formers content, causing the enhancement of capillary performance and the reduction of thermal conductivity. As the cold pressure increased, pore size distribution concentrated, the proportion of fine pores increased and the porosity fluctuated slightly, increasing the capillary pressure and improving capillary performance and thermal conductivity. Based on experimental results, the parameter of pore size proportion was proposed to modify the Alexander model to predict the thermal conductivity of porous materials accurately, guide the design for pore structure and promote the transfer capacity

Staggered Audit Partner Rotations and Audit Quality

We examine whether staggered audit partner rotations, where partners overlap their experience on clients, are positively associated with audit quality. We use dual signature audit opinions to compare audits where partners are rotated on a staggered basis to those where both partners are rotated simultaneously. Consistent with knowledge continuity management theory, staggered rotations are associated with more audit adjustments that correct clients’ pre-audited earnings, fewer financial restatements, fewer regulatory misconduct sanctions against auditors, and lower discretionary accruals. These results are present regardless of whether staggered rotations occur voluntarily or due to mandatory partner rotation rules. Our findings support audit firms’ assertion that overlapping partner experience on audits is beneficial and increases financial reporting reliability

MCC950 ameliorates cognitive function by reducing white matter microstructure damage in rats after SAH

Neuroinflammation and white matter microstructure damage are important causes of cognitive impairment after subarachnoid hemorrhage (SAH). Nod-like receptor protein 3 (NLRP3) plays an important role in neuroinflammation after SAH and may be a potential therapeutic target for treatment of white matter microstructure injury. In this study, we observed whether MCC950, a specific inhibitor of the NLRP3 inflammasome, exerted a therapeutic effect after SAH. The SAH model was induced by endovascular perforation in SpragueDawley rats. MCC950 was injected intraperitoneally 1 h after SAH at a dose of 10 mg/kg. The results showed that MCC950 significantly attenuated white matter microstructure damage in some brain regions, and behavioral experiments confirmed that MCC950 ameliorated cognitive function in rats after SAH, which may provide a new method for the treatment of cognitive dysfunction in SAH patients

The monoclonal antibody SM5-1 recognizes a fibronectin variant which is widely expressed in melanoma

Abstract Background Previously we have generated the monoclonal antibody SM5-1 by using a subtractive immunization protocol of human melanoma. This antibody exhibits a high sensitivity for primary melanomas of 99% (248/250 tested) and for metastatic melanoma of 96% (146/151 tested) in paraffin embedded sections. This reactivity is superior to the one obtained by HMB-45, anti-MelanA or anti-Tyrosinase and is comparable to anti-S100. However, as compared to anti-S100, the antibody SM5-1 is highly specific for melanocytic lesions since 40 different neoplasms were found to be negative for SM5-1 by immunohistochemistry. The antigen recognized by SM5-1 is unknown. Methods In order to characterize the antigen recognized by mAb SM5-1, a cDNA library was constructed from the metastatic human melanoma cell line SMMUpos in the Uni-ZAP lambda phage and screened by mAb SM5-1. The cDNA clones identified by this approach were then sequenced and subsequently analyzed. Results Sequence analysis of nine independent overlapping clones (length 3100–5600 bp) represent fibronectin cDNA including the ED-A, but not the ED-B region which are produced by alternative splicing. The 89aa splicing variant of the IIICS region was found in 8/9 clones and the 120aa splicing variant in 1/9 clones, both of which are included in the CS1 region of fibronectin being involved in melanoma cell adhesion and spreading. Conclusion The molecule recognized by SM5-1 is a melanoma associated FN variant expressed by virtually all primary and metastatic melanomas and may play an important role in melanoma formation and progression. This antibody is therefore not only of value in immunohistochemistry, but potentially also for diagnostic imaging and immunotherapy.</p

Functional genetic variants of TNFSF15 and their association with gastric adenocarcinoma: a case-control study.

The purpose of this study was to identify functional genetic variants in the promoter of tumor necrosis factor superfamily member 15 (TNFSF15) and evaluate their effects on the risk of developing gastric adenocarcinoma. Forty DNA samples from healthy volunteers were sequenced to identify single nucleotide polymorphisms (SNPs) in the TNFSF15 promoter. Two TNFSF15 SNPs (-358 T > C and -638 A > G) were identified by direct sequencing. Next, genotypes and haplotypes of 470 gastric adenocarcinoma patients and 470 cancer-free controls were analyzed. Odds ratios (ORs) and 95% confidence intervals (CIs) were estimated by logistic regression. Serologic tests for Helicobacter pylori infection were measured by enzyme-linked immuno-sorbent assay (ELISA). Subjects carrying the TNFSF15 -358 CC genotype were at an elevated risk for developing gastric adenocarcinoma, compared with those with the -358 TT genotype (OR 1.42, 95% CI, 1.10 to 2.03). H. pylori infection was a risk factor for developing gastric adenocarcinoma (OR 2.31, 95% CI, 1.76 to 3.04). In the H. pylori infected group, subjects with TNFSF15 -358 CC genotype were at higher risks for gastric adenocarcinoma compared with those carrying -358 TT genotype (OR: 2.01, 95%CI: 1.65 to 4.25), indicating that H. pylori infection further influenced gastric adenocarcinoma susceptibility. The -358 T>C polymorphism eliminates a nuclear factor Y (NF-Y) binding site and the -358 C containing haplotypes showed significantly decreased luciferase expression compared with -358 T containing haplotypes. Collectively these findings indicate that functional genetic variants in TNFSF15 may play a role in increasing susceptibility to gastric adenocarcinoma