Interaction Between Fiscal And Monetary Policy In A Dynamic Nonlinear Model

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)The objective of this study is to verify the dynamics between fiscal policy, measured by public debt, and monetary policy, measured by a reaction function of a central bank. Changes in monetary policies due to deviations from their targets always generate fiscal impacts. We examine two policy reaction functions: the first related to inflation targets and the second related to economic growth targets. We find that the condition for stable equilibrium is more restrictive in the first case than in the second. We then apply our simulation model to Brazil and United Kingdom and find that the equilibrium is unstable in the Brazilian case but stable in the UK case.103Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES

Confidence and self-attribution bias in an artificial stock market

Using an agent-based model we examine the dynamics of stock price fluctuations and their rates of return in an artificial financial market composed of fundamentalist and chartist agents with and without confidence. We find that chartist agents who are confident generate higher price and rate of return volatilities than those who are not. We also find that kurtosis and skewness are lower in our simulation study of agents who are not confident. We show that the stock price and confidence index—both generated by our model—are cointegrated and that stock price affects confidence index but confidence index does not affect stock price. We next compare the results of our model with the S&P 500 index and its respective stock market confidence index using cointegration and Granger tests. As in our model, we find that stock prices drive their respective confidence indices, but that the opposite relationship, i.e., the assumption that confidence indices drive stock prices, is not significant.This work was supported by grant number: 2014/19534-8, URL: http://www.fapesp.br/, Fundacao de Amparo a Pesquisa do Estado de Sao Paulo, MAB; and grant number: 1267846, URL: http://www.capes.gov.br/, Coordenacao de Aperfeicoamento de Pessoal de Nivel Superior, JNS. (2014/19534-8 - Fundacao de Amparo a Pesquisa do Estado de Sao Paulo; 1267846 - Coordenacao de Aperfeicoamento de Pessoal de Nivel Superior)Published versio

Development of risk maps to minimize uranium exposures in the Navajo Churchrock mining district

© 2009 deLemos et al; licensee BioMed Central Ltd. This is an Open Access article distributed under the terms of the Creative Commons Attribution Licens

Gradual reduction of testosterone using a gonadotropin-releasing hormone vaccination delays castration resistance in a prostate cancer model

In a previous study aimed to design a novel prostate cancer vaccine, the authors of the present study demonstrated the advantage of combining the adjuvants Montanide ISA 51 with very small size proteoliposomes (VSSP) to promote a significant humoral immune response to gonadotropin‑releasing hormone (GnRH) in healthy animals. The present study compared the efficacy of this vaccine formulation versus the standard treatment currently available in terms of preventing the development of tumors in DD/S mice injected with Shionogi carcinoma (SC) 115 cells. The results demonstrated that 5 non‑vaccinated control mice exhibited a fast tumor growth, and succumbed to the disease within 19‑31 days. Mice immunized with the GnRH/Montanide ISA 51/VSSP vaccine exhibited a moderate decline in testosterone levels that was associated with a decrease in anti‑GnRH antibody titers, which lead to a sustained tumor growth inhibition. In total, 2 mice in the immunized group exhibited complete remission of the tumor for the duration of the present study. In addition, castrated mice, which were used as a control for standard hormonal therapy, exhibited an accelerated decrease in tumor size. However, tumor relapse was observed between days 50 and 54, and between days 65 and 85, following the injection of SC 155 cells. Therefore, these mice were sacrificed at day 90. The present study concludes that the slow and moderate reduction of testosterone levels observed using the GnRH‑based vaccine may delay the appearance of castration resistance in a Shionogi prostate cancer model. These findings suggest that this vaccine may be used to delay castration resistance in patients with prostate cancer.The authors would like to thank the Union for International Cancer Control (Geneva, Switzerland; grant no., YY1/09/008/2009) for the fellowship received to support the present study. The authors would also like to thank the researchers at the Trev and Joyce Deeley Research Centre (Victoria, Canada), British Columbia Cancer Research Centre (Vancouver, Canada) and University of Victoria (Victoria, Canada), particularly Professor Brad Nelson, Dr Julian Lum and Dr John Webb, for purchasing the mice and providing the laboratory facilities required to conduct the present study.http://www.spandidos-publications.com/or/2017-02-27am2016Mammal Research Institut

INFLUÊNCIA DA SALINIDADE NA TAXA DE EVAPORAÇÃO DA ÁGUA

A alta taxa de evaporação de água, comum em regiões de clima árido e/ou semi-árido, é um fator que afeta significativamente os aspectos qualitativos e quantitativos dos reservatórios de água, principalmente os de superfície. Esse processo, em alguns casos, torna os recursos hídricos disponíveis impróprios para o consumo humano e uso na agropecuária. Este trabalho teve por objetivo analisar os índices evaporativos, em casa de vegetação, de soluções aquosas salinas quando acondicionadas em mini-tanques plásticos. O experimento foi conduzido no Centro Federal de Educação Tecnológica do Rio Grande do Norte, em Natal-RN, durante o período compreendido entre 23/07/06 e 23/09/06. Observou-se que a redução na taxa de evaporação em mini-tanque, devido ao aumento na salinidade da água, variou linearmente com a condutividade elétrica, medida em dS.m-1, com r2 = 0,999. Palavras-chave: Taxa de evaporação, salinidade, mini-tanque

Interaction between Fiscal and Monetary Policy in a Dynamic Nonlinear Model

<div><p>The objective of this study is to verify the dynamics between fiscal policy, measured by public debt, and monetary policy, measured by a reaction function of a central bank. Changes in monetary policies due to deviations from their targets always generate fiscal impacts. We examine two policy reaction functions: the first related to inflation targets and the second related to economic growth targets. We find that the condition for stable equilibrium is more restrictive in the first case than in the second. We then apply our simulation model to Brazil and United Kingdom and find that the equilibrium is unstable in the Brazilian case but stable in the UK case.</p></div

Saddle Point.

<p>Saddle Point.</p

Macroeconomic Data—Brazil (2013).

<p>Macroeconomic Data—Brazil (2013).</p